Healthcare Information Systems Market to Post 7.1% Cagr from 2013–2019 with Progression of Integrated Healthcare Systems

The deepening interest in integrated healthcare systems will benefit the global healthcare information systems market, leading it to achieve a compounded annual growth rate (CAGR) of 7.1% between 2013 and 2019, says Transparency Market Research in its latest report. The report, titled ‘Healthcare Information System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019’ states that the market, will reach US$53.2 billion by 2019, growing strongly from its 2013 value of US$35.1 billion. The growth of the market is also propelled by an increase in the healthcare costs.The other market forces pinned down by the report are: An expansion in the aging population base, supportive government initiatives, and higher investments by companies in the healthcare IT market. In contrast, aspects that will impede the growth of the healthcare information systems market are identified as: A dearth of skilled and experienced professionals, high investment and maintenance costs of healthcare informatics, and interoperability glitches.

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Even as companies in the market try to address and alleviate the drawbacks of healthcare informatics, there are some remunerative opportunities that are already on the horizon. The foremost among these is wireless and cloud technology for healthcare informatics. These developments are the result of a paradigm shift from manual processes to computerized and automated processes. The burgeoning adoption of electronic health records and the growing use of mobile devices for monitoring and alerts is expected to create promising avenues for the growth of the healthcare information systems market.

An external trend that directly impacts the growth rate of the global healthcare information systems market is the increasing adoption of home health monitoring systems – the use of such...