The global healthcare information system market is expected to grow at a CAGR of 7.5% during the forecast period. The market growth is attributed to the increasing government initiatives and spending for providing better healthcare services. Further, growing investment by healthcare IT companies further gives a boost to the growth of the healthcare information system industry. Healthcare Information System is an approach to manage information and communication systems and technology that facilitate quality patient care, innovative research, and progressive medical education. 

Moreover, rising adoption of electronic healthcare records (EHR) system by the healthcare providers has contributed massively towards the growth of healthcare information system market. According to American Hospital Association, around 84% of the non-federal acute care hospitals in the US adopted a basic EHR system in 2015 and it is projected to increase with a significant rate during the forecasted period. Such facts witness the growing trend towards the adoption of information technology in the healthcare industry. This, in turn, is expected to positively impact the growth of the global healthcare information system market. 

Segmental Outlook  

The global healthcare information system market is segmented on the basis of deployment, application, and end-user. On the basis of deployment, the market is bifurcated into on-premises deployment and cloud-based deployment of healthcare information system. Further, on the basis of application, the market is segmented into hospital information system, laboratory information system, pharmacy information system, and radiology information system. Among these, hospital information system is expected to contribute significantly to the growth of the market.

Global Healthcare Information System Market Share by End-User, 2018 (%)

Hospital Information System to Hold Significant Share in the Market 

By application, the market is segmented into the hospital information system, laboratory information system, pharmacy information system, and radiology information system. The hospital information system is expected to hold a prominent share during the forecast period owing to the increase in number of hospitals and healthcare centers across the globe. In addition, increasing patient pool generates huge amount of data that is needed to be managed efficiently, which increase the demand for hospital information system globally. Further, radiology information system is expected to exhibit a considerable rate during the forecast period.

Regional Outlook 

The global healthcare information system market is segmented on the basis of geography into North America, Europe, Asia-Pacific and Rest of the World. North America is expected to have a significant share in the market during the forecast period. The market growth is attributed to the presence of well-developed healthcare infrastructure in the region. In addition, increasing government initiatives for accelerating the implementation of IT services in the healthcare industry further gives a boost to the growth of the global market. For instance, in March 2018, the US government announced MyHealthEData initiative that enables patients to have access to their EHR through the device or application of their choice.

Global Healthcare Information System Market Growth, by Region 2019-2025

Asia-Pacific to Exhibit the Highest Rate in the Healthcare Information System Market 

Asia-Pacific is projected to be the fastest-growing region in the market. Rising demand for healthcare information systems from the emerging countries such as India and China coupled with increase in geriatric population & rising prevalence of chronic diseases such as Alzheimer, diabetes within the regional countries are the key factors contributing to the growth of the market. In Asia-Pacific, South Korea, Australia, and Japan have been at the forefront of the adoption of information technology in the healthcare sector whereas India, Thailand, and China are the emerging markets.

Market Players Outlook

Moreover, the market growth is influenced by the presence of players operating in the market. Some of the key players include Allscripts Healthcare Solutions, Inc., Cerner Corp., Nextgen Healthcare, Inc., Mckesson Corp., and Agfa-Gevaert NV, among others. The companies are working on providing innovative solutions in the market to improve patient care and enhance the quality of life of the people. Furthermore, the market players are adopting various strategies, in order to sustain in the highly competitive market, which includes merger and acquisition, geographical expansion, joint ventures, and product development, among others.

Recent Activities

• In June 2019, Allscripts Healthcare Solutions Inc. purchased digital specialty prescription start-up ZapRx to enhance the company’s portfolio. This new purchase will enable the company’s veradgim platform to integrate with cloud-based platform. The company’s veradigm unit is already engaged in providing services to a range of healthcare stakeholders by integrating software analytics, reporting, and workflow tools. This purchase will enable Veradigm to add new specification to its product portfolio in the near future.
• In May 2018, acquired HealthGrid Holding Co., that has significantly expanded the Allscripts FollowMyHealth platform, patient engagement solution of the company that is focused on connecting consumers with providers
• In September 2017, Allscripts Healthcare Solutions, Inc. entered into a collaboration with Surescripts. With this collaboration, free access to patient-specific medication history data for pharmacists in Texas and Louisiana is provided by the company.
• In June 2017, Athenahealth, Inc. completed its acquisition of Praxify Technologies, Inc. for advancing the company's platform strategy and mobile capabilities. With this, the company has expanded its R&D to drive innovation in the products.
• In July 2017, General Electric Co. completed its acquisition of Novia Strategies for expanding its US clinical consulting capabilities. This acquisition has enabled the company to strengthen its position as a provider of outcomes-based solutions.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global healthcare information system market. Based on the availability of data, information related to products and services, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.