The global healthcare information systems market is projected to expand at a CAGR of 7.10% within the forecast period of 2013 to 2019. This market was valued at US$35.1 bn in 2013 and is expected to reach US$53.2 bn by the end of 2019, as published in a research report released by Transparency Market Research. The report, titled “Healthcare Information System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” points to the factors that drive as well as restrain this market. The report provides in-depth analyses of the recent changes in the market, along with the changes that might occur till 2019.
According to the report, the global healthcare information systems market is primarily being driven by a high level of interest shown by multiple top players in the implementation of integrated healthcare systems. This is compounded by the increasing cost of running healthcare organizations. Other drivers of the global healthcare information systems market are the growing geriatric demographic, a growing number of investments in the global IT healthcare market, and favorable government policies.
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On the other hand, the global healthcare information systems market is impeded by factors including the issues faced in interoperability, the high cost of the installation and maintenance of healthcare informatics systems, and the currently low number of skilled workers available for the operation of these systems.
In terms of technologies, the report expects the future of the global healthcare information systems market to lie in the growing use of mobile devices, cloud computing, and wireless technology. These trends could help mitigate some of the restraints faced by the market. The report further explains that home health monitoring systems, which are not part of the global healthcare information systems market, will be one of the major factors influencing the growth of this market.
In terms of applications, the global healthcare information systems market was led by the hospital information systems segment in 2012. This segment is expected to continue its dominance while expanding at a CAGR of 6.90% within the report’s given forecast period.
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The global healthcare information systems market was led by North America in 2012, while Asia Pacific is expected to emerge as a consistent propeller of the market thanks to its rapid growth rate. With the advancing economies of countries such as China and India, the implementation of information systems is taking place at a faster rate.
The competitive landscape of the global healthcare information systems market is still in its nascent stage with the market itself being a relatively new one. Key players in the global healthcare information systems market are NextGen Healthcare Information Systems Inc., Epic Systems Corporation, Merge Healthcare Incorporated, Cerner Corporation, Carestream Health Inc., Siemens Healthcare, Agfa Gevaert NV, Philips Healthcare, GE Healthcare, and McKesson Corporation. Of these, the market is currently led by GE Healthcare.
