The global healthcare informatics market size accounted for US$ 34,774 Mn in 2021 and is estimated to reach US$ 98,679 Mn by 2030, with a significant CAGR of 12.4% from 2022 to 2030.
Healthcare informatics is a branch of engineering and analytics that focuses on collecting, storing, and analyzing healthcare data in order to improve service delivery and collaboration between physicians and healthcare professionals. Healthcare informatics is an important component of healthcare reform, reflecting evolving expertise that connects healthcare, communications, and informatics to improve patient care quality and safety. The purpose of healthcare informatics is to improve medical service operations by researching the resources, procedures, and equipment utilized to collect healthcare data and identifying strategies to improve the services given. Scanning electronic medical records, automated intake, and clinical decision support are all examples of this. More precisely, the field examines medical records to discover areas in which doctors, nurses, hospital administrators, and others may improve their services. Healthcare informatics also strives to improve communication and overall service quality by streamlining informational procedures for healthcare operators both internally and outside.
|Market||Healthcare Informatics Market|
|Market Size 2021||US$ 34,774 Mn|
|Market Forecast 2028||US$ 98,679 Mn|
|CAGR||12.4% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Type, By Application, By End-User, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Allscripts, Accuro Healthcare Solutions, Agfa HealthCare Corp, Cardinal Health, Benchmark Systems, Cerner Corp., CNSI, Axiom Resource Management Inc., Cognizant Technology Solutions, and Medtronic.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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The increased demand for data integration to understand, analyze, treat, and record healthcare data is driving the worldwide healthcare informatics market. Increasing usage of electronic health records (EHRs) and electronic medical records (EMRs) is one of the significant trends in the healthcare informatics industry that is helping the rapid expansion. As the biopharmaceutical business invests more in research and development, there is a rising need for data storage. As a result, increased demand from biotechnology and pharmaceutical companies for large amounts of data storage and management is moving the global healthcare informatics industry ahead. Government spending on building and renovating healthcare infrastructure, as well as expanding hospital networks, are some of the factors contributing to a better market opportunity. However, mounting security concerns, combined with expensive service and maintenance costs for these systems, may stifle industry growth. Furthermore, the growing number of investments in healthcare infrastructure, combined with the increasing use of technologically advanced systems, will create multiple potential opportunities for the market in the coming years.
The global healthcare informatics market is segmented based on type, application, end-user, and geography.
Market By Type
Based on types, the hospital information system segment occupied a considerable healthcare informatics market share in 2021. On the other hand, the laboratory information system segment is anticipated to witness a lucrative growth in the forecasted period 2022 – 2030. The segment is rising due to an increase in the number of patients enrolling their tests in healthcare and pharma labs, technological breakthroughs in laboratory automation, a growing requirement for clinical workflow management, and advances in LIMS technology.
Market By Application
Among them, the ocology segment held a noteworthy market share in 2021. This is due to a growth in the number of cancer patients, extensive research activities to find treatments, and an increase in the demand for informatics in hospitals. According to the International Organization for Research on Cancer, there were more than 19 million new cancer cases and 10 million cancer fatalities globally in 2020. Meanwhile, due to the increasing prevalence of heart attacks and other cardiovascular problems, the cardiology segment is expected to increase at the quickest rate.
Market By End-User
Healthcare Informatics Market Regional Overview
Middle East & Africa (MEA)
The higher adoption rate of advanced technologies boosts the North America healthcare informatics market revenue
The regional segmentation is given as North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa (MEA). Based on regional analysis, the North America region generated the maximum market revenue in 2021 and is likely to continue its trend in the coming years. Some of the factors driving regional growth include developed healthcare infrastructure, greater government spending in establishing healthcare and biopharma facilities, and an increase in the number of research centers. Meanwhile, the Asia-Pacific region is expected to develop at the quickest CAGR over the next few years. The APAC region's rapid expansion can be attributed to a large population base, rising prevalence of chronic diseases, an ageing population, and increased investments in healthcare infrastructure.
Some of the top vendors offered in the professional report include Allscripts, Accuro Healthcare Solutions, Agfa HealthCare Corp, Cardinal Health, Benchmark Systems, Cerner Corp., CNSI, Axiom Resource Management Inc., Cognizant Technology Solutions, and Medtronic.
Increasing requirement for data integration, rising demand from pharma and biotech companies, and growing adoption of EMRs and EHRs all contribute to the expansion of the worldwide healthcare informatics market.
The estimated value of global healthcare informatics market in 2021 was accounted to be US$ 34,774 Mn.
The projected CAGR of healthcare informatics market during the analysis period of 2022 to 2030 is 12.4%.
The prominent players of the global healthcare informatics market involve Allscripts, Accuro Healthcare Solutions, Agfa HealthCare Corp, Cardinal Health, Benchmark Systems, Cerner Corp., CNSI, Axiom Resource Management Inc., Cognizant Technology Solutions, and Medtronic.
North America held the dominating share for healthcare informatics during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for healthcare informatics during the analysis period of 2022 to 2030.
Based on type, hospital information system segment held the maximum share for healthcare informatics market in 2021.