Healthcare Informatics Market Tremendous Growth Opportunities Analysis with Forecast to 2031 | TMR Study

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Oct 18, 2022, 14:00 ET

Focus of companies on AI- enabled platforms to contribute toward innovative solutions in cancer care underscores growth
Need for patient-reported outcomes for critical decision making for patients of autoimmune conditions stokes demand

WILMINGTON, Del., Oct. 18, 2022 /PRNewswire/ -- Demand for healthcare informatics pivots on its significance to improve coordination in the healthcare industry. Healthcare informatics platforms help patients keep track of their health, while doctors have record of their patients on the fingertips. This demonstrates prospects of rapid increase in demand for mobile apps, which empowers patients for electronic access to their health history. The healthcare informatics market size is projected to exceed US$ 100 Bn by 2031.

Biomedical and healthcare informatics played a critical role in system response during COVID-19. The pandemic prompted a race for timely data to be used to benefit people. In this scenario, firms in the healthcare informatics market offered solutions to assist healthcare stakeholders with data governance and health decision making, thereby capitalizing on the opportunity.

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Market analysis of healthcare informatics reveals key role of vendors to create awareness to address security challenges. Vendors are educating hospitals for frequent change of password, and fill gaps in security of hospital systems to protect patient data.

Mounting pressure on healthcare providers to improve patient outcomes at low cost is compelling adoption of technology-based solutions. Healthcare informatics companies are stepping in to regulate practices, improve consistency in diagnosis, and deliver high quality patient care. Healthcare informatics enables healthcare professionals to connect disparate clinical systems, resulting in fast decision making based on available data.

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Healthcare Informatics Market – Key findings of the Report

Significance of healthcare informatics in the early intervention, and delay the progression of chronic kidney disease is driving potential revenues in the healthcare informatics market
Oncology is anticipated to hold the leading share among all applications in the healthcare informatics market during the forecast period. Vast pool of healthcare informatics data that provides unique clinical insights can contribute toward innovative solutions in cancer care. Healthcare informatics companies are leveraging insights obtained from this data, and are increasing research in precision medicine for personalized patient care.
Significance of patient-centered outcomes research for patients of autoimmune conditions demonstrates massive revenue potential in healthcare informatics market. This emphasizes the need for real-world data incorporating patient-reported outcomes, to help inform patients of autoimmune conditions and other stakeholders about patients' experience for treatments involving costly and innovative medication. Research initiatives for patient-centered outcomes involves engaging patients throughout the process, and is especially important for patients and their care partners.
Hospital information systems segment held the leading healthcare informatics market share in 2020. Implementation of several programs in emerging economies for adoption of hospital information systems fuels growth of the segment.
Healthcare informatics market segments based on end user are hospitals, clinics, insurance companies, specialty clinics, pharmacies, and others. Of them, insurance company's end user is expected to register a high CAGR during the forecast period.

Healthcare Informatics Market – Growth Drivers

Criticality for early intervention and significant delay in progression of chronic kidney disease fuels growth of healthcare informatics market
Mounting pressure on healthcare providers for improved health outcomes at low cost stirs demand

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Healthcare Informatics Market – Key Players

Some of the key players operating in the healthcare informatics market are;

Medtronic
Health Gorilla
MV Informatica Nordeste Ltd
NXGN Management LLC
nThrive Revenue Systems LLC
Axiom Resource Management Inc.
Benchmark Systems
Koninklijke Philips N.V.
Cerner Corporation
LabVantage Solutions Inc.
Allscripts Healthacre LLC
Agfa Healthacre Corp
Cardinal Health
CNSI

The healthcare informatics market is segmented as follows;

Healthcare Informatics Market, by Type

Hospital Information Systems

Electronic Health Record
Electronic Medical Record
Real-time Healthcare
Patient Engagement Solutions
Population Health Management
Others

Pharmacy Information Systems

Prescription Management
Automated Dispensing Systems
Inventory Management
Others

Medical Imaging Information Systems

Radiology Information Systems
Monitoring Analysis Software
Picture Archiving & Communication Systems
Others

Laboratory Information Systems
Health Insurance Information Systems

Healthcare Informatics Market, by Application

Renal Diseases
Autoimmune Diseases
Oncology
Cardiology
Gynecology
Respiratory Diseases
Others

Healthcare Informatics Market, by End-user

Hospitals
Specialty Clinics
Insurance Companies
Pharmacies
Others

Healthcare Informatics Market, by Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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