Clinical Information Systems Market

Report Description
Table of Contents

Report Description

The global clinical information systems market size is estimated to be USD 22.6 billion in 2021 and is expected to witness a CAGR of 9.65% during the forecast period. Increase in occurrence and cases of various critical diseases is a key driver for the growth of the global clinical information systems market. Additionally, technologically innovative and rising number of state-of-the-art healthcare facility centers and growth in favorable initiatives taken by government to adopt better use of CIS are some of the other drivers propelling the market growth. However, high cost of clinical information systems and lack of knowledge regarding clinical information systems among developing economies are expected to restrain the global market growth.

Global Clinical Information Systems Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Application

Based on application, the market is segmented into offices, hospitals, and others. In 2021, the hospitals segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This can be attributed to the increasing preference of hospitals using CIS to help in reduction of errors and maintain privacy to the patient’s information worldwide. Offices segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to the rise in majority of the population shift towards the corporate sector, thus increasing the application of CIS to maintain clinical record of their workforces.

By System Type

Based on system type, the market is segmented into software, hardware, and services. In 2021, the software segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to this system type gaining approval over the years due to increase in need to prevent errors in database management worldwide. Hardware segment is anticipated to grow at a profitable CAGR during the forecast period. This is attributed to the growth in R&D investments in the clinical information systems market.

By Platform

Based on platform, the market is categorized into cloud-based and web-based. In 2021, the cloud-based segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is due to various advantages offered by this segment such as easy accessibility from remote locations, thereby providing the benefit of less costs due to power consumption and system maintenance worldwide. The web-based segment is anticipated to grow at a profitable CAGR during the forecast period due to the increasing burden from regulatory authorities and introduction of technologically advanced software services.

Regional Insights

In 2021, North America held the highest revenue share in the global market and is estimated to keep its dominance during the forecast period. This is attributed to the presence of major pharmaceutical players in the region, increase in the share of healthcare expenditure in the per capita income, growth in initiatives from the government, and accessibility of technologically advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the less stringent regulations, growing government and corporate investment in healthcare sector, increase in research outsourcing by pharmaceutical giants, and growing public and private investments in pharmaceutical R&D.

Competitor Insights

Some of the key players in the clinical information systems market are F Athenahealth (U.S.); GE Healthcare (U.S.); eClinicalWorks (U.S.); Allscripts Healthcare Solutions, Inc. (U.S.); iMDsoft (U.S.); TheraDoc, Inc. (U.S.); Lifecom Pharmaceuticals (I) Private Limited (India); Cerner Corporation (U.S.); InferMed (U.K.); and Epic Systems Corporation (U.S.). The leading players operating in the clinical information systems industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The clinical information systems market report is categorized into the following segments and subsegments: