Healthcare Information Systems Market Size, Share, Growth Analysis, By Application(Pharmacy information systems, hospital information systems, laboratory information systems, revenue cycle management), By Component(Hardware, software, and services), By Deployment(Cloud-based, web-based, and on-premises), By End-user(Hospitals, diagnostic centers, academic & research institutes), By Region - Industry Forecast 2024-2031

Healthcare Information Systems Market size was valued at USD 358.5 billion in 2019 and is poised to grow from USD 406.4 billion in 2023 to USD 1614.8 billion by 2031, growing at a CAGR of 13.3% in the forecast period (2024-2031).

Global healthcare information systems market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'McKesson Corporation', 'Philips Healthcare', ' Allscripts Healthcare Solutions Inc. ', ' Cerner Corporation ', ' Epic Systems Corporation ', ' GE Healthcare ', ' NextGen Healthcare Information Systems LLC ', ' Athenahealth, Inc. ', ' Siemens Healthineers ', ' IBM Watson Health ', ' Meditech ', ' eClinicalWorks ', ' Greenway Health LLC ', ' DXC Technology ', ' Carestream Health ', ' Agfa Healthcare ', ' Merge Healthcare Solutions Inc. ', ' Nuance Communications Inc. ', ' Dell EMC ', ' Fujifilm Holdings Corporation ', 'In November 2022, Malta launched its first national health workforce strategy, an ambitious plan to address the shortage of health-care workers while also addressing gaps in their training, retention, and professional development.', 'In November 2022, Fujifilm India Pvt. Ltd., a pioneer in diagnostic imaging and information systems for healthcare facilities, expanded its pulmonology solutions portfolio in India with the launch of the EB-710P, a new slim video bronchoscope.'

The increasing rates of chronic diseases, a geriatric population, and an increase in road accidents are all contributing to an increase in hospitalized patients. A massive amount of patient-related data must be managed efficiently and economically stored. The rising need to eliminate paperwork is propelling the growth of the global healthcare information systems market size.

Increasing of launching mHealth programs by many companies and healthcare institutions for remote patient monitoring, which is leading to an increase in the implementation of IT solutions for remote patient monitoring services.

North America dominated the market in 2021, accounting for approximately 52% of the total, and is expected to maintain this position during the forecast period due to factors such as high economic development and the presence of hospitals, advanced research centres, universities, and medical device manufacturers in this region. The North American government activities to remove paperwork and keep increasing the use of digital technologies for storing patient data have significantly influenced the development of the healthcare information systems market. The region's increased adoption of digital technologies, coupled with growing investments in the construction of smart hospitals, are key causes of the North America market.