About Medical Information System
Medical information system provides a common source of information about a patient's health history. It enhances the ability of health care professionals to coordinate care by providing a patient's health information and visit history at the place and time that it is needed. In today’s time, healthcare facilities are focusing on the digitalization of patients’ medical records, medication logs, contact information, appointment times, insurance information and billing and payment accounts for easy access, reduce operational cost, and offer quality service.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.2% |
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Medical Information System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
InferMed (United Kingdom), Cerner Corporation (United States), TheraDoc, Inc. (United States), iMDsoft (United States), Allscipts (United States), 3M (United States), Napier Healthcare Solutions (Singapore), Smartsheet Inc. (United States), Meditab Software Inc. (United States) and Adroit Infosystems (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Medical Information System market by Type (Web-Based and Cloud-Based) and Region.
On the basis of geography, the market of Medical Information System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-user, the sub-segment i.e. Hospitals will boost the Medical Information System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Electronic Health Records will boost the Medical Information System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Wearable Devices, Telemedicine Systems, and Virtualization Technologies for Patient Monitoring
Market Growth Drivers:
Increased Adoption of Medical information System to Eliminate Medical Errors, Reduce Healthcare Costs, and Improve Quality of Patient Care and Growing Demand of Advanced Technological Solutions to Digitally Manage Patients’ Medical Data
Challenges:
Lack of Regulations and Policies to Support Health Information Systems
Restraints:
Lack of Financial Resources and Privacy Concerns Will Restraint the Market
Opportunities:
The Standardization of Hospital Administration to Improve Management Decisions and Remote Monitoring of Patients
Market Leaders and their expansionary development strategies
In January 2021, Royal Philips, a global leader in health technology announced the acquisition of Capsule Technologies, Inc. Capsule’s platform captures streaming clinical data and transforms it into actionable information for patient care management to enhance patient outcomes, improve collaboration between care teams, streamline clinical workflows and increase productivity. The acquisition of Capsule is a strong fit with Philips’ strategy to transform the delivery of care along the health continuum with integrated solutions.
In June 2022, Athenahealth expanded its mobile EHR voice capabilities for healthcare providers. The voice assistant will help them improve documentation accuracy, provide a better patient experience, and save time.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Medical Information System Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.