The global healthcare information system market accounted for USD 460.81 billion in 2023 and is expected to reach at USD 1,830.54 billion by 2034 with a CAGR of 13.36% during the forecast period 2024-2034. Increasing healthcare expenditure, growing advancements in IT infrastructure, surge in demand for remote patient monitoring, rising focus on cybersecurity & AI applications, increasing prevalence of chronic diseases such as cancer, diabetes, & congestive heart failure, growing launch of mHealth programs for remote patient monitoring by healthcare institutions, rising applications of smartphones, such as remote disease management, Health Management Information Systems (HMIS), telemedicine, & others, and surge in introduction of innovative healthcare information system are some of the key factors boosting the market growth.
Surge in introduction of innovative healthcare information system is predicted to boost the market growth during the forecast period. Health Information Systems are designed to store and analyze patient data to ensure optimal diagnosis. Their purpose is to consistently improve the quality of clinical care provided to every patient. For instance, in February 2022, Chronic Care Complete, a comprehensive solution designed to improve healthcare outcomes via the management of chronic conditions, was introduced by Teladoc Health, Inc.
By component, service was the highest revenue-grossing segment in the global healthcare information system market in 2023. Companies offer a range of services including optimization, hosting, consulting, and revenue cycle management to support information systems in healthcare facilities. There's a growing demand for IT and communication services within healthcare information systems. Additionally, software & systems is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for streamlined management of organizational workflows in the healthcare industry, improving healthcare IT infrastructure, growing launch of innovative platforms. For instance, in September 2023, SAS, an artificial intelligence and analytics firm, plans to introduce SAS Health, an innovative healthcare platform designed to streamline health data and management processes, enhance data governance, and expedite patient insights.
By deployment, web-based was the highest revenue-grossing segment in the global healthcare information system market in 2023 owing to the advantage of minimizing operational challenges associated with managing vast amounts of data, their ability to support software and systems hinges on having the necessary technical requirements and operational expertise in place. Additionally, cloud-based is predicted to grow at the fastest CAGR during the forecast period owing to the growing launch of novel platforms. Cloud-based technology allows for remote access to software, systems, and services via the internet. Its adoption has grown due to security breaches in on-premises and web-based deployments. Advancements in edge computing have simplified data processing at the edge, resulting in enhanced processing efficiency and enabling the transfer of data to private or public clouds for advanced analytics. For instance, in March 2023, Fujitsu introduced Fujitsu Uvance, a fresh cloud-based platform enabling secure collection and utilization of health data, aimed at driving digital transformation in the medical sector.
By application, revenue cycle management (RCM) was the highest revenue-grossing segment in the global healthcare information system market in 2023 owing to the growing demand to minimize errors in medical billing and decrease reimbursements in healthcare, a trend towards developing integrated management systems, and increased need to streamline workflows in hospitals and other healthcare facilities. Additionally, hospital information systems is predicted to grow at the fastest CAGR during the forecast period owing to the rise in the utilization of hospital information systems to enhance operational effectiveness, increasing awareness of technologically advanced services, rising need to lower healthcare expenses, and increase in the introduction of sophisticated systems. For instance, in December 2022, The National Health Authority (NHA) is launching a beta version of a Hospital Management Information System (HMIS) that is lightweight, durable, and compliant with ABDM standards. This HMIS aims to offer a digital platform for healthcare providers, with a specific focus on private clinics and small healthcare facilities.
By end-user, hospital was the highest revenue-grossing segment in the global healthcare information system market in 2023 owing to the rising use of healthcare information systems in hospitals has boosted professionals' efficiency, leading to streamlined patient care, increasing advancements in cloud-based technology, surge in introduction of more innovative systems. These systems aid in handling administrative, financial, and clinical tasks within hospitals, thereby enhancing inventory management and patient record-keeping. For instance, in October 2023, Bahrain introduced its latest iteration of the E-health information system, which is a unified and secure platform aimed at enhancing the quality of healthcare services provided to residents and citizens across all Royal Medical Services and hospitals. Additionally, diagnostic centers is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for laboratory informatics systems to facilitate tasks such as sample collection & machine interfacing. Healthcare information systems employed in diagnostic centers enable service providers to make informed decisions, aiding in diagnosis preparation and prediction of medical conditions such as drug interactions and reactions.
North America region is anticipated for the highest revenue share during the forecast period owing to the existence of hospitals, advanced research institutions, universities, & medical device manufacturers, and increase in the introduction of cutting-edge solutions by market participants. For instance, in March 2023, Nuance Communications, Inc., now part of Microsoft, unveiled Dragon Ambient eXperience (DAX) Express, a clinical documentation application seamlessly integrated into workflows, featuring fully automated processes. DAX Express is pioneering in merging established conversational and ambient AI technologies with OpenAI's latest and most advanced model, GPT-4. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the significant need for healthcare IT services, increasing spending by governments in this sector, rising healthcare expenditure, improving healthcare infrastructure, increase in the adoption of advanced technology to enhance hospital workflows & reduce medical expenses, and rise in government initiatives to introduce new platforms. For instance, in May 2023, The Health and Family Welfare Minister unveiled Information and Communication Technology initiatives including the Education Learning Management System (eLMS) and the Ayush Health Management Information System (AHMIS).
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Surge in introduction of innovative healthcare information system is predicted to boost the market growth during the forecast period. Health Information Systems are designed to store and analyze patient data to ensure optimal diagnosis. Their purpose is to consistently improve the quality of clinical care provided to every patient. For instance, in February 2022, Chronic Care Complete, a comprehensive solution designed to improve healthcare outcomes via the management of chronic conditions, was introduced by Teladoc Health, Inc.
By component, service was the highest revenue-grossing segment in the global healthcare information system market in 2023. Companies offer a range of services including optimization, hosting, consulting, and revenue cycle management to support information systems in healthcare facilities. There's a growing demand for IT and communication services within healthcare information systems. Additionally, software & systems is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for streamlined management of organizational workflows in the healthcare industry, improving healthcare IT infrastructure, growing launch of innovative platforms. For instance, in September 2023, SAS, an artificial intelligence and analytics firm, plans to introduce SAS Health, an innovative healthcare platform designed to streamline health data and management processes, enhance data governance, and expedite patient insights.
By deployment, web-based was the highest revenue-grossing segment in the global healthcare information system market in 2023 owing to the advantage of minimizing operational challenges associated with managing vast amounts of data, their ability to support software and systems hinges on having the necessary technical requirements and operational expertise in place. Additionally, cloud-based is predicted to grow at the fastest CAGR during the forecast period owing to the growing launch of novel platforms. Cloud-based technology allows for remote access to software, systems, and services via the internet. Its adoption has grown due to security breaches in on-premises and web-based deployments. Advancements in edge computing have simplified data processing at the edge, resulting in enhanced processing efficiency and enabling the transfer of data to private or public clouds for advanced analytics. For instance, in March 2023, Fujitsu introduced Fujitsu Uvance, a fresh cloud-based platform enabling secure collection and utilization of health data, aimed at driving digital transformation in the medical sector.
By application, revenue cycle management (RCM) was the highest revenue-grossing segment in the global healthcare information system market in 2023 owing to the growing demand to minimize errors in medical billing and decrease reimbursements in healthcare, a trend towards developing integrated management systems, and increased need to streamline workflows in hospitals and other healthcare facilities. Additionally, hospital information systems is predicted to grow at the fastest CAGR during the forecast period owing to the rise in the utilization of hospital information systems to enhance operational effectiveness, increasing awareness of technologically advanced services, rising need to lower healthcare expenses, and increase in the introduction of sophisticated systems. For instance, in December 2022, The National Health Authority (NHA) is launching a beta version of a Hospital Management Information System (HMIS) that is lightweight, durable, and compliant with ABDM standards. This HMIS aims to offer a digital platform for healthcare providers, with a specific focus on private clinics and small healthcare facilities.
By end-user, hospital was the highest revenue-grossing segment in the global healthcare information system market in 2023 owing to the rising use of healthcare information systems in hospitals has boosted professionals' efficiency, leading to streamlined patient care, increasing advancements in cloud-based technology, surge in introduction of more innovative systems. These systems aid in handling administrative, financial, and clinical tasks within hospitals, thereby enhancing inventory management and patient record-keeping. For instance, in October 2023, Bahrain introduced its latest iteration of the E-health information system, which is a unified and secure platform aimed at enhancing the quality of healthcare services provided to residents and citizens across all Royal Medical Services and hospitals. Additionally, diagnostic centers is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for laboratory informatics systems to facilitate tasks such as sample collection & machine interfacing. Healthcare information systems employed in diagnostic centers enable service providers to make informed decisions, aiding in diagnosis preparation and prediction of medical conditions such as drug interactions and reactions.
North America region is anticipated for the highest revenue share during the forecast period owing to the existence of hospitals, advanced research institutions, universities, & medical device manufacturers, and increase in the introduction of cutting-edge solutions by market participants. For instance, in March 2023, Nuance Communications, Inc., now part of Microsoft, unveiled Dragon Ambient eXperience (DAX) Express, a clinical documentation application seamlessly integrated into workflows, featuring fully automated processes. DAX Express is pioneering in merging established conversational and ambient AI technologies with OpenAI's latest and most advanced model, GPT-4. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the significant need for healthcare IT services, increasing spending by governments in this sector, rising healthcare expenditure, improving healthcare infrastructure, increase in the adoption of advanced technology to enhance hospital workflows & reduce medical expenses, and rise in government initiatives to introduce new platforms. For instance, in May 2023, The Health and Family Welfare Minister unveiled Information and Communication Technology initiatives including the Education Learning Management System (eLMS) and the Ayush Health Management Information System (AHMIS).
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Component, Deployment, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Healthcare Information System Market Report 2023 - 2034
Healthcare Information System Market Analysis & Forecast by Component 2023 - 2034 (Revenue USD Bn)
- Software & Systems
- Hardware
- Services
Healthcare Information System Market Analysis & Forecast by Deployment 2023 - 2034 (Revenue USD Bn)
- On-premises
- Web-based
- Cloud-based
Healthcare Information System Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Laboratory Informatics
- Revenue Cycle Management
- Medical Imaging Information System
- Picture Archiving and Communication Systems
- Radiology Information Systems
- Monitoring Analysis Software
- Pharmacy Automation Systems
- Automated Medication Compounding System
- Medication Dispensing System
- Packaging & Labeling System
- Storage & Retrieval System
- Tabletop Tablet Counters
- Hospital Information System
- Population Health Management
- Patient Engagement Solution
- Electronic Medical Record
- Electronic Health Record
- Real-time Healthcare
Healthcare Information System Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Academic & Research Institutes
- Hospitals
- Diagnostic Centers
Healthcare Information System Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Healthcare Information System Market: Component Estimates & Trend Analysis
8. Healthcare Information System Market: Deployment Estimates & Trend Analysis
9. Healthcare Information System Market: Application Estimates & Trend Analysis
10. Healthcare Information System Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Healthcare Information System Market
13. Europe Global Healthcare Information System Market
14. Asia Pacific Global Healthcare Information System Market
15. Latin America Global Healthcare Information System Market
16. MEA Global Healthcare Information System Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Philips Healthcare
- GE Healthcare
- NextGen Healthcare
- McKesson Corporation
- GREENWAY HEALTH LLC.
- Novarad Corporation
- Allscripts Healthcare LLC
- Oracle (Cerner Corporation)
- eClinicalWorks
- e-MDs Incorporation
- Epic Systems Corporation
- NXGN Management LLC
- Siemens Healthineers
- Athenahealth Inc.
- Ada Health GmbH
- Carestream Health
