Tuesday, September 29, 2015

Health Information Systems Market to Rise in Revenue and Sales with Booming Aging Population

As technology has evolved and made human lives better, healthcare received its fair share of technological advancements. Today, physicians and patients have access to facilities which were once unimaginable. As we move towards technology-based healthcare era, the development of Healthcare Information System (HIS) is an important milestone. Healthcare Information System in simple words is an integration of all facets of Healthcare Systems such as patient medical records, diagnostic results, prescription records and insurance records and makes them available to each physician across the nation for improved accessibility and patient care.

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The Healthcare Information System is gaining importance and it is the need of the hour. What we need is to build a model which incorporates patients, physician and payers. The patients need to allow sharing of medical records which will help in saving cost and treatment time. The physicians need to adopt the EHR model and remove physical records. The payers on the other hand need to motivate the patients for sharing of data. The government here needs to incentivize people who share the patient data and it is only then the Interoperability function will work.

Market Outlook:
According to IndustryARC, the Healthcare Information Systems Market is expected to grow at a CAGR of 7.5 % through 2015-2020. North America is noted to hold the highest percent of the total market share in this market owing to Healthcare Reforms, Better Healthcare Facilities and Large Private Investment in the Healthcare Segment.

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Driving Factors:
The increase in the aging population is driving the demand for Health Information Systems. The government across the globe has been investing heavily in Healthcare reforms. Today, the Health Information Systems are accessed through various platforms such as Cloud computing and Web-based delivery model. India and China appear to be great opportunities for the development of Health Information Systems.
The European region has different countries like Germany, Sweden and UK have implemented Healthcare Reforms and witnessed huge success. Thus the European region is growing steadily. During the forecast period, the highest growth can be expected to occur in Asia Pacific region such as China, India and Japan. The increasing aging population, growing disposable income and improvised healthcare facilities will drive the market for Health Information Systems.

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Market Segmentation:
The Healthcare Information Systems Market is broadly divided into 5 types with further sub segments each.
  1. By Type: Electronic Medical Record, Electronic Health Record and Others.
  2. By Application: Billing, Claims & Reimbursement, Adverse Events Reporting and Others.
  3. By Delivery Mode: Web-Based, Cloud-Based and On-Premise.
  4. By End-User: Clinics, Hospitals and Pharmacy.
  5. By Geography: Americas, Europe, APAC and ROW.

Key Players:
  • Mckesson Corporation
  • GE Healthcare
  • Philips Healthcare, Inc.
  • Cerner Corporation
  • Agfa Gevaert NV

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About IndustryARC:

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

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