Sarasota, FL -- (SBWire) -- 03/26/2019 --With the presence of a large pool of participants, the global healthcare information system market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). McKesson Corporation, Philips Healthcare, Cerner Corporation, Merge healthcare Inc., and GE Healthcare are some of the key vendors of healthcare information system across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the healthcare information system market study.
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In a major boost to healthcare information system market, in August 2018, Colorado Regional Health Information Organization abbreviated as CORHIO has set up two Wolters Kluwer Health IT services for enhancing interoperability as well as health data standardization along with providing network players with more advanced healthcare data analytics and reporting.
As estimated in this report, the global healthcare information system market stood at US$ 41.20 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this market is expected to reach US$ 60.00 billion by the end of the forecast period. The main components available in this healthcare information system market are services, hardware, and software. Among the three, the demand for software is relatively higher and the trend is anticipated to remain so over the next few years, notes the healthcare information system market research report.
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Growing Incidences Of Chronic Diseases To Favorably Impact Market Revenue
"Expanding elderly population prone to dreaded diseases along with the rise in the cases of patients suffering from chronic ailments is projected to propel the development of healthcare information system market in the forthcoming years," says the author of this healthcare information system market study. Apart from this, favorable government initiatives and support from private firms will lucratively leverage the business.
Low availability of healthcare IT experts along with rise in the service & maintenance cost of healthcare information system can inhibit the of healthcare information system market development in the near future. Nevertheless, new technological developments witnessed across the globe will create new growth dimensions for healthcare information system market in the years to come, thereby normalizing the impact of hindrances on the healthcare information system market, reports the study.
Elevated Use Of Electronic Health Record Systems To Support Dominance
Regionally, North America has been leading the worldwide healthcare information system market and is anticipated to continue on the dominant position in the years to come, states the market study. Robust demand for high quality diagnostics system is the main factor behind the dominance of the North America healthcare information system market. Furthermore, large-scale implementation & storage of electronic records in the healthcare system witnessed in the countries such as Canada and the U.S is supporting the expansion of this regional healthcare information system market.
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The global healthcare information system market is segmented as follows:
By Delivery Mode
On-Premises Installation
Cloud Based Technology
Web-Based Technology
By Component
Software
Hardware
Services
By Application
Pharmacy Information System
Laboratory Information System
Hospital Information System
By Region
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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Global Healthcare Information System Market Is Projected to Be Around USD 60.00 Billion by 2022: ZMR Report
Global Healthcare Information System Market is projected to be around USD 60.00 billion by 2022: ZMR Report