Global Hospital Information System (HIS) Market is valued approximately at USD 20.91 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.51% over the forecast period 2020-2027.
Report Ocean presents a new report on Hospital Information System (HIS) Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Hospital information systems (HIS) is an extremely synchronized data structure which tapes, screens and manages hospital related activities namely, documentation, administration, scheming and finance. The rise in the occurrence of disease and disorders has led to surge in the patient cases in hospitals which has extensively burdened the management systems. For Instance: According to Disease Control and Prevention, around 100 million individuals which include both male and female population were impacted by diabetes or prediabetes by the end of the year 2017 in United States. In the present scenario, nearly 1 in 10 individuals are affected by diabetes. Also, 84.1 million American adults which is approximately 1 in 3 individuals have prediabetes.
Newly diagnosed cases of type 1 & type 2 diabetes cases were registered in Youth population of United States which is positively influencing the hospital admissions and driving the growth of the market. Further, HIS enhances efficacy of the information and lowers the errors and time spent on documentation. Hospital information system is a software with a wide-range of features for recording of all financial, management and therapeutic information. The market growth is chiefly driven by growing demand to cut the excess of healthcare finances, streamline the hospitals workflow in order to advance outcomes and reduce the risk of errors. Moreover, due to some other advantages such as efficient workflow, better storage, operations streamlining, management and distribution of patient data, the demand for hospital information systems is boosting. Additionally, growth in government initiatives worldwide is also fueling the growth of the global HIS market. However, complex implementation and maintenance expenses and shortage of skilled professionals impedes the growth of the market over the forecast period of 2020-2027.
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The regional analysis of global Hospital Information System (HIS) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the well-established Healthcare infrastructure and presence of major market players in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising population and increasing healthcare problems such as Cardiovascular diseases, Cancer and more would create lucrative growth prospects for the Hospital Information System (HIS) market across Asia-Pacific region.
Major market player included in this report are:
Meditech (Medical Information Technology, Incorporated)
Computer Programs and Systems, Inc. (CPSI)
GE Healthcare Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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Rest of the World
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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