The global hospital information systems (HIS) market will climb past $35 billion by 2015, with the United States representing the largest consumer of the technology, according to a report by Global Industry Analysts (GIA).
The U.S. hospital IS market is experiencing an increase in acceptance of customized technology, such as laboratory information systems (LIS) and RIS, according to the report. The market holds a promise for an uptake in EMR systems.
GIA found that United States is projected to grow at a compounded annual growth rate (CAGR) of approximately 7.2 percent over the next few years. The clinical IS segment is set to grow on the industry's need for decision-making in the areas of cost reduction, workflow optimization and quality enhancement.
The Asia-Pacific region is the fastest growing market in clinical information systems. The Asia-Pacific region--excluding Japan--represents the fastest growing HIS market, exhibiting a CAGR of 11.5 percent over the next few years, GIA said. Despite being a smaller market in terms of revenue, the Asia-Pacific promises growth opportunities, the firm said..
The growth of the emerging health informatics market is high in many other countries such as Australia, China, Thailand, Malaysia, India and the Philippines.
Although non-clinical IT systems created the foundation for the initial adoption of hospital IT, clinical IS products are dominating the market in terms of both popularity and revenues due to an increased emphasis on reducing clinical errors, workflow optimization and offering quality healthcare at a reasonable cost, according to the report.