The Healthcare Information Software Market to grow by USD 7.27 million from 2022 to 2027, North America to account for 37% of market growth- Technavio
NEW YORK, Sept. 19, 2023 /PRNewswire/ -- The healthcare information software market is expected to grow by USD 7.27 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 4.98% during the forecast period, according to Technavio Research. The market has been segmented by application (HIS and PIS), deployment (on-premises and cloud-based), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America is estimated to contribute 37% to the growth of the global market during the forecast period. This is mainly due to the high spending on major federal health programs, such as Medicare, Medicaid, and the Children's Health Insurance Program (CHIP), as well as the creation of trade-in benefits—health insurance under the Affordable Care Act. Furthermore, increasing investment in healthcare and the introduction of various government policies are increasing the adoption of digital healthcare technologies, such as healthcare information software. As such, such initiatives foster rapid advances and innovations in healthcare technology, products, devices, and software solutions. The imposition of new regulations and additional laws by governments and regulators in the region is increasing the adoption of digital health solutions. Hence, these factors are expected to drive market growth during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read FREE PDF Sample Report
3M Co., Asteres Inc., athenahealth Inc., Azalea Health Innovations Inc., Cognizant Technology Solutions Corp., Dedalus Group, ec2 Software Solutions, Epic Systems Corp., Fusion, GE Healthcare Technologies Inc., Koch Industries Inc., Koninklijke Philips N.V., McKesson Corp., Merative L.P., NextGen Healthcare Inc., Oracle Corp., Siemens AG, UnitedHealth Group Inc., Veradigm LLC, and WRS Health
3M Co. - The company offers healthcare information software such as creating time to care, driving value-based care, and improving revenue cycles like Clinical documentation integrity.
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Healthcare Information Software Market: Segmentation Analysis
The market share growth by the HIS segment will be significant during the forecast period. The list of products covered in this segment includes LIS, CPOE, DME, and DSE. For all treatment, financial, and management information in healthcare enterprises, healthcare IT solutions are being used to capture, store, manage, and document that information.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Healthcare Information Software Market: Market Dynamics
- Increasing adoption of EHRs
- Presence of favorable government initiatives
- Rising prevalence of chronic diseases
Increasing adoption of EHRs is the key factor driving market growth. The EHR is a digital file of patients' medical information. Patients' information can be stored in electronic documents using EHR and EMR. Information is automatically accessed by electronic health records systems to streamline hospital processes. Moreover, devices connected to the network may share recorded data obtained by EHR and DME. Physicians and doctors can use EHRs to access a patient's medical history, diagnoses, medications, treatment plans, vaccination dates, allergies, X-ray images, and test results. EHR reduces the number of medical errors and improves the accuracy and clarity of medical records. Hence, these factors are expected to drive market growth during the forecast period.
A growing number of acquisitions and partnerships is the key trend in the healthcare information software market. Identify key trends, drivers, and challenges in the market. Download a FREE sample to gain access to this information.
- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by WRITERS
Market Segmentation by Geography
Drivers, Challenges, & Trends
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