Global Hospital Information System Market Insights by 2028 & Covid-19 Analysis

 

Hospital Information System Market

A Hospital Information System (HIS) is a subset of health informatics that focuses on hospital administration. The system is intended to manage all medical data. HIS assists healthcare organisations in overcoming the complex challenges that they face in today's healthcare industry. HIS is intended to centrally manage patients and their related information through electronic data processing and to predict health status within the hospital setting. A Hospital Information System is a novel approach to assisting multiple doctors with their all-day outpatient management. It is a collection of applications created to manage healthcare data. In short, the hospital information system plays an important role in streamlining hospital workflow by digitising all hospital operations.

According to Coherent Market Insights, The global Hospital Information System Market was valued at US$ 39,696.3 Mn in 2020 and is forecast to reach a value of US$ 75,824.7 Mn by 2028 at a CAGR of 7.3%between 2021 and 2028.

The COVID-19 outbreak is expected to provide significant growth opportunities for global Hospital Information System Market participants. According to the National Center for Biotechnology Information (NCBI), the pandemic necessitated rapid adaptation of health information systems to identify, collect, store, manage, and transmit accurate COVID-19-related data. Globally expanding patient pools are expected to provide lucrative growth opportunities for players in the global hospital information system market. According to the World Health Organization (WHO), poor quality care is responsible for between 5.7 and 8.4 million deaths each year in low- and middle-income countries (LMICs), accounting for up to 15% of all deaths in these countries.

The global Hospital Information System Market is expected to grow due to rapid developments in healthcare infrastructure. For example, the Delhi government approved an INR 13.9 billion project in August 2021 to establish a cloud-based integrated health information management system across its hospitals. The introduction of new products by major players is expected to help the global hospital information system market grow. For example, CoverMyMeds and Cerner Corporation collaborated in January 2019 to integrate patient-specific information into the HER (electronic health record) for healthcare providers to view pricing information at the point-of-care.

Various Segments-

·        By Mode of Delivery: (Cloud-based and On-premise)

·        By Type: (Clinical Information Systems, Administrative Information Systems, Electronic Medical Records, Laboratory Information System, Radiology Information system, Pharmacy Information System, and Others)

Rising government initiatives and increased demand from hospitals to deploy advanced IT solutions for effective operational efficiency are two key factors driving the increase in hospital information system adoption (HIS). The growing need to reduce healthcare expenditure due to inefficiencies in hospital workflow is expected to increase hospital information system implementation globally. Thus, the growing demand for lower healthcare costs and better clinical outcomes is driving the adoption of information systems in both developed and emerging economies such as India, China, the Philippines, and Brazil.

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