Healthcare Information System Market

The global healthcare information system market size is projected to reach USD 547.2 billion by 2030 from USD 290.4 Billion in 2022, at a CAGR of 8.2% during the forecast period. The healthcare information system market is mainly driven by factors such as rise in penetration of technological advanced healthcare services, increasing government initiatives, rise in healthcare expenditure and digitalization of the healthcare infrastructure. However, potential data security concerns related to healthcare information system are expected to restrain the growth of this market to a certain extent in the coming years.

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As of 2021, major players operating in the healthcare information system market are McKesson Corporation (US), Cerner Corporation (US), athenahealth, Inc. (US), Allscripts Healthcare, LLC (US), Medidata Solutions Inc. (US), Agfa-Gevaert N.V. (Belgium),GE Healthcare (US), Siemens Healthineers (Germany), Epic Systems Corporation (US), NextGen Healthcare (US), eClinicalWorks (US), Philips Healthcare (Netherlands), Hewlett Packard (US), Carestream Health (US), Novarad Corporation (US), e-MDs Incorporation (US), Ada Health GmbH (Germany), SWORD Health (US), Siilo (Netherlands), Orion Health (US), Oracle (US), NXGN Management, LLC (US), Greenway Health, LLC (US), Infor (US) and Neusoft Medical Systems Co., Ltd. (China), among others.

Research Methodology

The study involved four major activities in estimating the current size of the healthcare information system market. Exhaustive secondary research was conducted to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Secondary Research

The secondary sources referred to in this research study include corporate filings (such as annual reports, SEC filings, investor presentations, and financial statements); research journals; and press releases; trade, business, and professional associations. Secondary sources were used to identify and collect helpful information for this extensive and commercial study of the healthcare information system market. Secondary research was mainly used to obtain critical information about the industry’s total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, market trends, and necessary developments by both the public and private organizations in the healthcare information system market.

The secondary sources referred to for this research study include government, independent or public, paid/private, and research databases, among others. Secondary data was collected and analyzed to arrive at the overall market size of the healthcare information system market, which was further validated by primary research. Some of the critical secondary sources referred to during the preparation of this report are listed below-

• Governmental and inter-governmental sources & databases such as World Health Organization (WHO), World Bank, Organization for Economic Co-operation and Development (OECD), and Centers for Disease Control and Prevention (CDC), among others.
• Business and research articles such as Springer Nature, The Lancet, PubMed, and the US National Library of Medicine, among others.
• Company sources include annual reports, SEC filings, regulatory filings, investor presentations, press releases, and financial statements.

Primary Research

Extensive primary research was conducted after acquiring knowledge about the healthcare information system market scenario through secondary research. A significant number of primary interviews were conducted from both the demand. The primaries interviewed for this study include experts from the healthcare information system industry (such as CEOs, VPs, directors, sales heads, and marketing managers of tier 1, 2, and 3 companies engaged in offering healthcare information system and post-sale services) and administrators & purchase managers of hospitals and diagnostic centers.

Around 65% and 35% of primary interviews were conducted from the supply and demand sides. A robust primary research methodology has been adopted to validate the report's contents and fill gaps. Telephonic and e-mail communications were adopted to conduct interviews (questionnaires were designed and sent to primary participants at their convenience).

The healthcare information system market comprises stakeholders such as healthcare information system providers, hospitals, clinics, diagnostic laboratories, and research centre. The demand side of this market is characterized rise in penetration of technological advanced healthcare services, the rapidly increasing geriatric population, and rise in healthcare expenditure and advancements in its IT infrastructure. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is the breakdown of primary respondents:

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the healthcare information system market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research
• The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research
• All percentage shares split, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the healthcare information system market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the healthcare information system market industry.

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Report Objectives

• To define, describe, and forecast the healthcare information system market by application, delivery mode, components, end user, and region
• To provide detailed information about significant factors influencing the market growth (key drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets1 concerning individual growth trends, prospects, and their contributions to the overall healthcare information system market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the market value of various segments and sub-segments concerning five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
• To profile the key players active in the healthcare information system market and comprehensively analyze their global revenue shares and core competencies2
• To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the healthcare information system market

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Scope of the Report

This research report categorizes the healthcare information system market based on application, delivery mode, components, end user, and region

By Application

• Hospital information systems
• Pharmacy information systems
• Laboratory information systems
• Revenue Cycle Management
• Medical Imaging Information System

By Delivery Mode

• Web-based
• On-premise
• Cloud-based

By Components

• Software
• Hardware
• Services

By End User

• Hospitals
• Diagnostic Centers
• Academic & Research

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • RoAPAC
• Latin America
• The Middle East and Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the healthcare information system market report:

PRODUCT ANALYSIS

• Product Matrix, which gives a detailed comparison of the product portfolios of the top five global players

PRODUCT ANALYSIS

• Further breakdown of the Rest of Europe’s healthcare information system market into Russia, Portugal, Belgium, Denmark, Switzerland, and other European countries (aggregated)

COMPANY INFORMATION

• Detailed analysis and profiling of additional market players (up to 5 OEMs)

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