The Hospital Information System Market is Seeing an Increase in the Use of AI Technology to Improve Data Management - By The Business Research Company

News provided by

Jan 12, 2023, 04:49 ET

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, Jan. 12, 2023 /PRNewswire/ -- The use of artificial intelligence is gaining popularity in the hospital information system market trends. Major companies operating in the hospital information system market are leveraging artificial intelligence to improve tracking, recording and maintenance of data. For instance, in August 2022, TidalHealth, a Maryland-based Hospitals information system, and Health Care company, which provides a network of hospitals, clinics, and physicians for the provision of emergency care, launched a collaboration designed to increase patient diagnosis accuracy, reduce clinician burnout, and enhance revenue through improved documentation. TidalHealth will implement the software, which uses AI to help physicians diagnose medical conditions across its network in Maryland and Delaware to optimize practitioners' workflows.

The global hospital information system market size grew from $109.5 billion in 2022 to $119.22 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital information system market size is expected to grow to $173.59 billion in 2027 at a CAGR of 9.8%.

Learn More On The Hospital Information System Market Report

Hospital Information System Market Driver – Favorable Government Initiatives

Favorable government initiatives are expected to contribute to the hospital information system market growth during the forecast period. Governments across the world are encouraging the research and development of ways for delivering safe and better healthcare in order to develop more accessible ways to help people. For instance, in September 2020, the three federal agencies FCC (Federal Communications Commission), HHS (US Department of Health and Human Sciences), USDA (United States Department of Agriculture) have signed a memorandum of understanding to work together on the Rural Telehealth Initiative to expand healthcare services in rural parts of the country where healthcare access is challenging.

Hospital Information System Market Segments

The global hospital information system market is segmented -

1) By Components: Hardware, Software, Services

2) By Type: Clinical Information Systems, Administrative Information Systems, Electronic Medical Records, Laboratory Information System, Radiology Information System, Pharmacy Information System, Other Types

3) By Deployment: Web-Based, On-Premises, Cloud Based

4) By End-User: Hospitals, Insurance Companies, Other End Users

North America Held The Largest Hospital Information System Market Share In 2022

North America was the largest region in the hospital information system market and was worth $44.27 billion in 2022. The hospital information system market in North America is supported by favorable government initiatives in this region. For instance, in June 2021, the United States Department of Health, and Human Services (HHS), announced the allocation of $80 million from the American Rescue Plan to improve COVID-19 data collection, strengthen public health IT in the United States, and increase the workforce's representation of underrepresented communities.

Request A Free Sample Of The Hospital Information System Market Report

View More Similar Market Reports:

Hospital Outsourcing Global Market Report 2023 – By Hospital Type (Private, Public), By Hospital Size (Small And Medium Hospitals, Large Hospitals), By Services (Healthcare IT, Clinical Services, Business Services, Transportation Services, Other Services), By End-Users (Nursing Homes And Assisted Living, Speciality Hospitals, General Medical And Surgical Hospitals, Emergency And Other Outpatient Care Centers, Other End Users) – Market Size, Trends, And Global Forecast 2023-2032

Hospital Asset Tracking And Inventory Management Systems Global Market Report 2023 – By Product Type (Mobile, Fixed, Other Inventory), By Technology (Hardware, Software), By Application (Equipment Or Device Or Supplies Tracking, Equipment Maintenance) – Market Size, Trends, And Global Forecast 2023-2032

Hospital EMR Systems Global Market Report 2023 – By Type (General EMR Solutions, Specialty EMR Solutions), By Hospital Size (Small And Medium-Sized Hospitals, Large Hospitals), By Delivery Mode (On-Premise, Cloud-Based), By Component (Services, Software, Hardware) – Market Size, Trends, And Global Forecast 2023-2032

Interested to know more about The Business Research Company?

The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

The World's Most Comprehensive Database

The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.

Contact Information

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model