Healthcare Informatics Market Size, Share, and Industry Analysis, By Type (Hospital Information Systems [Electronic Health Record, Electronic Medical Record, Patient Engagement Solutions, Others], Pharmacy Information Systems [Prescription Management Systems, Automated Dispensing Systems, Others], Radiology Information Systems, Monitoring Analysis Software, Others], & Others), By Application (Clinical Informatics, Predictive Medicine, & Others), By End-User (Hospitals & ASCs, Clinics, Pharmacies, Clinical Laboratories, Diagnostic Centers, and Others), and Regional Forecast, 2024-2032

Healthcare informatics refers to developing and assessing the methods and systems for the analysis and further management of data among patients with the help of information technology. Healthcare informatics can be of various types, such as hospital information systems, pharmacy informatics, and pathology informatics.

The growing focus on evidence-based medicine and data security, among others, is resulting in rising research and development activities to introduce predictive models or systems for the efficient analysis of data among patients. This, along with the rising government spending for the development and upgradation of the healthcare infrastructure and the expansion of the hospital network, is likely to aid the growing demand for healthcare informatics worldwide.

• For instance, according to the 2023 data published by the Michigan Technology University, the healthcare industry generates approximately 30% of the world’s data, and it is expected to rise to 36% by 2025. 

Furthermore, the increasing focus on the stringency of the rules and the regulations for the adoption of these clinical informatics software, including electronic health records and electronic medical records, among others, especially in developed countries, is likely to boost the growth of the market globally.

The COVID-19 pandemic had a positive impact on the global healthcare informatics market. Increasing focus on the research activities to develop faster healthcare solutions using these models and systems, along with the wider utilization of telehealth platforms and remote patient monitoring, among others, supported the market growth during the pandemic. Thus, the demand for artificial intelligence and machine learning led to the overall adoption of healthcare informatics, which supported the market growth during the pandemic.

Segmentation

Key Insights

The report covers the following key insights:

• Overview of Regulatory Scenario, by Key Countries, 2023


• Overview of Technological Advancements


• New Product Launches


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Healthcare Informatics Market

Analysis by Type

By type, the market is segmented into hospital information systems, pharmacy information systems, medical imaging processing systems, and others.

The hospital information systems segment held a significant proportion of the global market in 2023. The growth is due to the growing demand for hospital information systems including electronic health records and electronic medical records for efficient patient data collection, management, and analysis. The growing demand for this software, along with the increasing focus of key players to launch advanced telehealth products for efficient remote patient monitoring among patients, is likely to boost the adoption of these systems in the market.

• For instance, according to 2023 data published by Rock Health, approximately 61.0% of patients prefer telemedicine for prescription management, and about 51% prefer telemedicine for minor illnesses.

This, along with increasing technological advancements for these hospital information systems, rising focus toward the development of hospital and healthcare infrastructure among government and other organizations, among others, are some of the other factors supporting the growth of the segment in the market.

On the other hand, the medical imaging processing systems segment is also expected to grow during the forecast period. The growth is due to the rising demand for imaging procedures, which has resulted in the growing adoption of medical imaging information systems among service providers. This, along with the growing focus of key players toward mergers and collaborations among the other players to strengthen their presence, is further likely to boost the growth of the segment in the market.

Regional Analysis

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The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the market in 2023. The growth is owing to the stringent rules and regulations to use hospital information systems, medical imaging processing systems, and others among governmental organizations, resulting in the rising adoption of these systems in the market. In addition, the growing focus of key market players in the region on the research and development activities to launch innovative products is further likely to support the market growth in the region.

• In March 2024, The Department of Veterans Affairs and the Defense Department launched a new, interoperable electronic health record (EHR) to support healthcare providers in the U.S.

On the other hand, Europe is also expected to grow with a considerable CAGR during the forecast period. The growth is due to the growing geriatric population, which has resulted in the rising demand for imaging procedures among the general population. The increasing number of imaging procedures is further augmenting the demand for innovative medical imaging processing systems in the market. Furthermore, the increasing focus of key players on acquisitions and partnerships to strengthen their presence is further likely to support the market growth in the region.

Key Players Covered

The report includes the profiles of key players such as Change Healthcare, Koninklijke Philips N.V., AKASA Inc., VERADIGM LLC., Greenway Health, Medical Information Technology, Inc., and Athenahealth.

Key Industry Developments

• In May 2024, Athenahealth launched customizable specialty electronic health records (EHR) to meet the clinical and operational needs of women’s health and urgent care practices.


• In April 2024, Greenway Health, one of the leading health information technology service providers, partnered with Nabla, a clinical documentation partner, to reduce administrative burden and improve clinician engagement.


• In April 2024, Veradigm LLC, one of the leading providers of healthcare data and technology solutions, collaborated with Vim, a platform for U.S. healthcare, to enhance the point-of-care integration for electronic health records platforms.