Persistence Market Research Released New Market Report on the global growth of the healthcare software market in which they outline the environmental conditions over the next few years. The study is titled, “Global Market Study on Healthcare Information Systems: Asia to Witness Highest Growth by 2019” the global healthcare information systems market was valued at USD 35.2 billion in 2013 and is expected to grow at a at a rate of 7.1% from 2013 to 2019, to reach an estimated value of USD 53.2 billion in 2019.
Healthcare Information Systems Industry Forecast: $53.2 Billion in 2019
Some of the key driving factors for the healthcare information systems market are raising government initiatives, rising need for integrated healthcare systems and increasing investment from healthcare IT players. However, the market faces some restraints such as lack of experienced professionals, high maintenance and service expenses and interoperability issues. Healthcare information systems market is also witnessing shift from manual process to computerized process. Introduction of wireless and cloud technology, patient-centric healthcare information systems and use of mobile devices are some of the major trends that have been observed in the market. Also, trends such as adoption of electronic health record and geographic expansion by some leading players have been observed in the global market for healthcare information systems.
North America dominates the global healthcare information system market followed by Europe. Asia is expected to experience high growth rate, due to the increasing demand of healthcare information systems in emerging markets such as China and India. Increase in aging population, increase in incidence rate of various chronic diseases such as diabetes, chronic pain are acting as the driving factors for healthcare information systems market in these regions.
Laboratory information system has the largest market for healthcare information systems. This segment is expected to grow at a CAGR of about 7.7% during 2013 – 2019. Healthcare information systems market is also segmented on the basis of delivery mode; web based cloud based and on-premise; by components: software, hardware and services; by geographies: North America, Europe, Asia Pacific and Rest of the World (RoW).
Some of the companies operating in healthcare information systems market are GE Healthcare, Philips Healthcare, McKesson Corporation and Nextgen Healthcare Information System Inc.. GE Healthcare is one of the leading players in healthcare information systems market.