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).

Healthcare information systems provide solutions for the security and management of healthcare-related data. The impact of information technology on the cost, quality, and safety of healthcare is greater. Electronic medical records, healthcare records, and personal health records are some of the most widely used applications in the healthcare industry. Patient-centered care management, population health management, and point-of-care solutions help providers reduce healthcare costs while also increasing outcomes by developing patient registries and patient portals. One of the main factors influencing market growth is technological advancements in healthcare IT infrastructure, including the use of IoT, big data, and AI. Electronic health records and personal health records are two of the most widely used healthcare information systems. Increased government investments in healthcare infrastructure development and digitization have played a vital role in the growth of the global market. Increasing development strategies such as new product launches, partnerships, and collaborations are significant factors in determining the expansion of the market. However, the reluctance of the healthcare infrastructure to operate these systems is expected to restrain the growth of the global market.

US Healthcare Information Systems Market is poised to grow at a sustainable CAGR for the next forecast year.