Hospital Information Systems Industry To Reach $34.7 Billion By 2026
Posted on October 14th, 2021
A report titled 'Global Hospital Information Systems Market 2021-2026' said the global market for hospital information systems (HIS) is estimated to increase from $22.4 billion in 2021 to $34.7 billion by 2026. The compound annual growth rate (CAGR) will be 9.2% all through the anticipated period 2021-2026.
The same report said that the worldwide market for electronic medical will grow from $6.1 billion in 2021 and reach $9.7 billion by 2026. The CAGR will be 9.9% during the projected period 2021-2026.
On the other hand, the market for clinical information systems is also set to increase from $5.5 billion in 2021 to $9.1 billion by 2026 throughout the globe. The CAGR will be 10.6% during the estimated period of 2021-2026.
The report focused on different types of hospital information systems like electronic health records, pharmacy information systems, clinical information systems, laboratory information systems, administrative information systems and radiology information systems. The report covered the market condition of hospital information systems and correlated legislations or regulations in specific nations. The report even portrayed the dynamics and trends influencing the market.
The report divided the market into North America, Europe, Middle East, Africa, Asia-Pacific, and South America regions. The North America zone included nations the U.S., Mexico, and Canada; Europe included nations U.K., France, the rest of Europe and Germany; Asia-Pacific included nations India, China, Japan and the rest of Asia-Pacific.
What is Hospital Information System (HIS)?
Often called a clinical information system, the HIS is a comprehensive and integrated information system developed to aid hospitals to manage their administrative, clinical, and financial operations. To effectively manage data relating to hospital registers and patient records, all hospitals rely on hospital management system software. Many healthcare departments, including inpatient, operating theatre, financing, nursing, clinical, laboratory, radiology, outpatient, pathology, and pharmaceutical benefit from hospital information system software.
The marketplace for HIS is projected to increase majorly due to the heightening need to adopt automated information technology, consumer expectations, increasing healthcare costs and growing interest in enhancing the standards of care.