Information system in the healthcare industry has been putting more impact on expenditure quality and wellbeing. In general, this sector leverages some healthcare information applications, such as Electronic Medical Records (EHR), personal health records and medical records. The healthcare information system is playing a crucial role in collecting, storing and securely share patient data. When looking around the market facts and figures, the global market for healthcare information systems will garner huge revenue and reach USD 53.2 billion in 2019, from USD 35.2 billion in 2013, with a growing CAGR of 7.1 percent.
The market is largely driven by the aging population and rise in healthcare costs across the globe. Escalating government initiatives, growing demand for integrated healthcare systems and massive investment from healthcare IT players are further accelerating the business growth of the global healthcare information systems market. Besides, lack of experienced professionals, high maintenance and service expenses and interoperability issues could slow down the business growth of the market. The global market for healthcare information systems is also witnessing a shift to computerized process from the manual process. This would be attributable to the introduction of wireless and cloud technology, patient-based healthcare information systems and utilization of mobile devices are some of the major trends in the market. Additionally, adoption of the electronic health record and geographic expansion by some leading players are also trendy which have been observed in the market.
The facts and figures further demonstrated that North America leads the global healthcare information system market followed by Europe. Conversely, the Asian region is predicted to see high growth rate, due to the escalating demand of healthcare information systems in emerging markets like China and India. Currently, a few numbers of governments and healthcare service providers are deploying healthcare information systems to comply with the growing need of healthcare in a savvy way for therapeutic purposes.