Provided by BIS Research
With the population increasing worldwide, the number of ailing patients is also increasing. Hospitals are facing challenges to minimize medical errors and manage data more efficiently. High acuity information systems are one such solution to these challenges, as they are integrated computer based platforms comprising of both software and hardware (patient monitoring machines) which aid the healthcare providers to manage their patients efficiently and effectively. There has been an impending need for these systems in different departments of the hospital such as critical care/intensive care unit (ICU), emergency department (ED) and operation theatre (OT), as the patient volume is increasing significantly in these departments.
REDUCING MEDICAL ERRORS
The patients in these critical facilities need the utmost care and monitoring and hence the use of high acuity information solutions helps in providing quality treatment. The software applications of these solutions are interfaced with hardware, that are monitoring devices, to collect, store, manage, and analyze patient data for a better clinical outcome. The monitoring systems aide with measuring and monitoring various physiological parameters to keep a tab on the patient's recovery rate. The hospitals are focusing significantly on reducing the rate of medical errors and to improve the workflow management in the high acuity settings. Governments of a number of countries are investing in the development of IT in healthcare and to reduce healthcare costs. These factors are propelling the growth in the market.
Besides hospitals, ambulatory surgical centers, nursing care facilities, and others are also a consumer of this market. However, hospitals are the leading end-user in the market, which accounted for $4.9 billion in 2016 and is expected to reach $9.31 billion, growing at a CAGR of 7% during 2017 and 2025. But the nursing care facilities segment is expected to grow at the highest CAGR during the same period, owing to the rapidly growing old-age population which is boosting medical needs.
According to a new market research report by BIS Research, titled ‘Global High Acuity Information Solutions Market (2017-2025)', the global high acuity information solutions market is estimated to reach $13.69 billion by 2025 growing at a CAGR of 8% during the forecast period 2017-2025. The growing investment from governments along with the growing risk of medical errors are mainly driving this market. The product segment of this market, the high acuity information systems, account for the major share of the market in 2016 and is expected to reach $8.2 billion by the end of 2025.
This market report includes a comprehensive analysis of various aspects of the global high acuity information systems market. The market has been segmented in the report on the basis of product type, application type, end users type and geographical regions, in order to present a holistic view of the global market.
The report further divides the market in terms of product, viz. clinical information system, intensive care unit information system (ICUIS), anesthesia information system (AIMS), patient monitoring information system, surgical information system, emergency department information system (EDIS), perinatal information system and integrated information system, among others.
It also highlights the key driving and restraining forces in the market and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Key players in the market are:
- All Scripts Healthcare Solutions, Inc.
- Picis Clinical Solutions, Inc.
- Nihon Kohden
- iSOFT Group Limited
- GE Healthcare
- Cerner Corporation
- McKesson Corporation
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