Healthcare Informatics Market Will Grow At Highest Pace Owing To Rising Demand For Advanced Healthcare IT Solutions

Healthcare Informatics Market 


Healthcare informatics refers to the application of information technology to the field of medicine to analyze healthcare data, improve patient outcomes and enhance computer-based decision support systems for healthcare professionals. Healthcare informatics systems help improve clinical processes, reduce costs and enhance patient engagement. They allow for seamless integration and exchange of patient data between various care delivery systems. Use of advanced analytics in healthcare informatics helps clinicians and healthcare organizations gain valuable insights to achieve better results.


The Global Healthcare Informatics Market is estimated to be valued at US$ 91.51 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the Healthcare Informatics are Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Inc., Epic Systems Corporation, GE Healthcare, Philips Healthcare, Siemens Healthineers, IBM Watson Health, Oracle Healthcare, eClinicalWorks, Athenahealth, Inc., Carestream Health, Agfa-Gevaert Group (Agfa HealthCare), Medidata Solutions, Inc., NextGen Healthcare, Inc., Siemens Medical Solutions, Health Catalyst. The rising demand for efficient management of voluminous patient data is driving increased adoption of healthcare informatics solutions. Technological advancements in big data analytics, artificial intelligence and cloud computing are enabling enhanced data integration and predictive analytics capabilities in healthcare informatics.

Market Trends
The Healthcare Informatics Market Size  is witnessing growing adoption of cloud-based solutions. Cloud-based healthcare informatics systems offer benefits such as scalability, simplified data accessibility, reduced infrastructural costs and lower total cost of ownership. Growing popularity of telehealth and remote patient monitoring is another key trend in the healthcare informatics market. Wearable devices and remote diagnostic tools are augmenting patient care through virtual visits. This is expected to drive demand for interconnected healthcare delivery platforms.

Market Opportunities
Growing healthcare expenditures in emerging nations provide significant growth opportunities for players in the healthcare informatics market. Partnerships with local players can help global companies tap into opportunities in developing healthcare IT infrastructure. Rising instances of chronic diseases will further propel demand for integrated healthcare informatics solutions that help optimize clinical outcomes through data-driven decision making. This presents lucrative prospects for stakeholders to develop advanced analytics capabilities into their platforms.

Impact of COVID-19 on Healthcare Informatics Market Growth

The COVID-19 pandemic has significantly impacted the growth of the healthcare informatics market. During the onset of the pandemic, there was an urgent need to leverage healthcare IT solutions like telehealth, remote monitoring, and electronic health records to help manage patient volume, conduct virtual doctor visits, and monitor patients remotely. This drove increased adoption of various healthcare informatics platforms and services in 2020 and 2021. However, the pandemic also caused short term disruptions in the market as hospitals temporarily shifted resources away from digital transformation projects towards direct COVID care. Post pandemic, the demand for healthcare informatics is expected to grow steadily as the importance of data-driven approaches and technology enabled care delivery models have been firmly established. Governments and hospitals now recognize the importance of digital healthcare infrastructure and tools for improved clinical outcomes, cost reductions, as well as preparedness for future public health crises.

Geographical Regions with Highest Value Concentration in Healthcare Informatics Market

North America accounts for the largest share of the healthcare informatics Market Size and Trends in terms of value. This is due to favorable government policies supporting healthcare IT adoption, presence of leading informatics solutions providers, and advanced IT infrastructure across hospitals and clinics in the US and Canada. Being an early adopter of digital health technologies, the region witnessed high spending on clinical as well as administrative solutions pre-COVID. Post pandemic, budgets have increased further to strengthen IT capabilities. Other major value pockets include Western European countries like Germany, UK, France due to universal healthcare systems and focus on EHRs and telehealth. Parts of Asia Pacific like Japan, South Korea, Australia, Singapore are also growing rapidly due to government LED healthcare reforms promoting IT enabled care.

Fastest Growing Regional Market for Healthcare Informatics

The Asia Pacific region excl. Japan holds the highest growth potential for the healthcare informatics market. Majority of the countries in South and South East Asia still have developing healthcare systems and low IT penetration rates in hospitals and physician practices compared to developed markets. However, governments are now proactively implementing national electronic health record systems, telemedicine programs, and other digital health initiatives to address rising disease burden as well as improve access and quality of care delivery. China in particular stands to gain the most as it is the largest market and national policies are driving wider adoption of informatics platforms. Increased investments from global players are also helping expand the reach of innovative solutions in emerging APAC economies at an accelerated pace.

Get more insights on – Healthcare Informatics Market

About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

Comments

Post a Comment

Popular posts from this blog

Cellulose Films is the largest segment driving the growth of Cellulose Plastics Market

Image
  Cellulose Plastics Market The global Cellulose Plastics Market is estimated to be valued at US$ 819.69 Mn or Million in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview: Cellulose plastics are bioplastics made from cellulose, one of the most abundant organic polymer on Earth. They are produced from plant materials like wood and agricultural residues. Cellulose plastics offer advantages like biodegradability, recyclability and sustainability. They are widely used in agriculture films, food packaging and textiles. Market key trends: One of the key trend in the cellulose plastics market is growing demand for biodegradable and sustainable packaging solutions. Rising environmental concerns regarding widespread use of conventional plastics is driving the demand for eco-friendly cellulose plastics. Strict government regulations prohibiting use of single use p...
Read more

Electronic Warfare Market Poised to Witness High Growth Owing to Increasing Usage of EW Systems Across Military and Defense Sectors

Image
Electronic Warfare Market Electronic warfare (EW) systems are used for detecting, deceiving or damaging enemy’s communication and radar systems. It involves deliberate emission or suppression of electromagnetic energy to maintain information dominance. EW systems find wide applications across military, including land, sea, air and space operations for counteracting threats from armed forces of other nations. The need for situational awareness and gaining tactical advantage over opponents has catalyzed demand from armed forces globally. The global electronic warfare market is estimated to be valued at US$ 18.45 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.  Key players operating in the electronic warfare market are BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Co...
Read more

Poultry Keeping Machinery connected with market drivers for automation

Image
  Poultry Keeping Machinery Market The global Poultry Keeping Machinery Market is estimated to be valued at US$ 4,866.90 Mn in 2022 and is expected to exhibit a 3.4% CAGR over the forecast period 2023 to 2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview: Poultry keeping machinery are used for rearing poultry birds for commercial meat and egg production. Poultry keeping machinery includes equipment such as cage systems, feeders, waterers, egg collection systems, heating and cooling systems and ventilation systems. Poultry cages provide shelter to the birds and make the feeding and waste collection process efficient. Automatic feeders and waterers ensure the availability of nutritional feed and water to birds on a regular basis. Egg collection systems collect eggs from the cages to avoid breakage during collection. Heating, cooling and ventilation systems maintain optimum temperature and provide fresh air. The equipment allows large scale...
Read more