Increasing usage of electronic health records (EHR) and electronic medical records (EMR) by hospitals, medical institutes, and healthcare practitioners is one of the key factors driving the global healthcare informatics market. Growing number of medical practitioners and healthcare professionals are using these systems to effortlessly store patients’ data with minimal error. These systems can be used for recording and monitoring the patient’s health and medical data in real time. This creates massive amounts of patient data that needs to be categorized, stored, managed, and analyzed to gain essential insights that can enable healthcare professionals to form better and enhanced relationships with patients. Using these systems also reduce the burden of healthcare professionals and require lesser backend support team on premise. This also enables healthcare facilities to reduce the operations cost and efficiently manage their patient flow. This factor is also expected to bolster the growing global healthcare informatics market in coming years.
Healthcare informatics is a multidisciplinary field that combines healthcare industry and computer science along with information technology to offer higher quality deliverables and increased efficiency. Types of services offered by players in global healthcare informatics market include nursing informatics, imaging informatics, research informatics, pathology informatics, and pharmacy informatics. Solutions in global healthcare informatics market can be deployed by various means including on premise, web hosted, remotely hosted, and cloud based solutions. Some of the key benefits offered by products and services in global healthcare informatics market include increased accountability, enhanced healthcare delivery, reduced burden on traditional healthcare organizations, better population health outcomes, and reduction in healthcare costs for clinics and relevant medical facilities. However, high cost associated with maintenance and support and lack of integration standards in healthcare industry can impede the market growth in near future.
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North America Healthcare Informatics Market to Provide Lucrative Opportunities for Industry Players
North America region is anticipated to provide promising opportunities for industry players and software developers operating in global healthcare informatics market in near future. Key trends supporting this development include extensive healthcare and life sciences research in United States and rising demand for healthcare informatics solutions for their potential to improve healthcare services delivery. Rising focus of patient-centric care is expected to provider multiple opportunities for players operating in Asia Pacific healthcare informatics market in near future. Other motivators include rising investments by governments in the region to expand their healthcare infrastructure and increased focus on digitalization of healthcare services and facilities.
Players in Healthcare Informatics Market Focusing on Delivering Products with high Interoperability
Industry players in global healthcare informatics market are investing in developing solutions that can overcome various challenges that hamper the adoption of informatics services and software tools in global healthcare industry. One of the major concerns for the players in the market is the threat of breaking the privacy regulations enforced by governments and regulatory agencies. Privacy of the patient’s medical data is a huge concern while digitalizing the medical record keeping processes. Transferring this type of sensitive and private medical data across systems is a massive challenge for the players in global healthcare informatics market. This is because various medical and healthcare infrastructures, especially in developing and underdeveloped economies, are not developed or technologically advanced enough to handle the data privacy risks. Players in global healthcare informatics market are focusing on increasing cyber security and interoperability of their products.
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Few of the most prominent players in global healthcare informatics market include Agfa HeathCare Corp., Cardinal Health, CGI, Cognizant Technology Solutions, 3T Systems Inc., Adaptis, Allscripts, Benchmark Systems, Amcom Software, Cerner Corp., CNSI, Axiom Resource Management Inc., and Companion Technologies. Leading players in global healthcare informatics market are focused on providing the solutions for rising demand for standardization and interoperability of healthcare informatics services. Population health management is an emerging segment that is expected to attract an increasing number of private players in global healthcare informatics market.