Healthcare Informatics Market Witnesses Gains from Bundled Characteristics of Intelligent Workflows, AI-enabled Platforms for Improved Patient Outcomes; Market Valuation to Surpass US$ 100 Bn by 2031, TMR

PR Newswire
Thursday, October 14, 2021 at 2:30pm UTC

Healthcare Informatics Market Witnesses Gains from Bundled Characteristics of Intelligent Workflows, AI-enabled Platforms for Improved Patient Outcomes; Market Valuation to Surpass US$ 100 Bn by 2031, TMR

- Availability of several intelligent tools to serve various areas within healthcare services fosters growth

- Changing healthcare practice of information sharing among clinicians, patients, and authorized agencies in Asia Pacific to drive the healthcare informatics market in the region at a CAGR of 13.8% from 2021 to 2031

PR Newswire

ALBANY, N.Y., Oct. 14, 2021 /PRNewswire/ -- The critical role of healthcare informatics for patient management and responsiveness of healthcare services during the coronavirus pandemic has received endorsement of health caregivers for its use for such crisis in the future. The importance of timely availability of patient data for optimizing clinical processes using healthcare informatics has spurred the confidence of health caregivers in technology to address such intense crisis. The healthcare informatics market is projected to expand at a CAGR of 11.8% from 2021 to 2031.

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Taking a cue from this, players in the healthcare informatics market are investing to amplify virtues of healthcare informatics applications such as for data governance and improved health decision making. The objective is to serve the various areas that healthcare informatics solutions are suitable for namely, hospital information systems, laboratory information systems, health insurance information systems, pharmacy information systems, and medical imaging information systems. Stakeholders in the healthcare informatics market are emphasizing on the skills required to use healthcare informatics applications for the judicious use of critical data of healthcare organizations, public health agencies, and electronic health records.

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The prospects of the use of mobile apps for healthcare informatics that will empower patients to have electronic access to their healthcare history are expected to expand the growth horizons of the healthcare informatics market.

Healthcare Informatics Market – Key Findings of Report

Advantages to Connect Disparate Clinical Outcomes Attracts Demand; Efforts to Standardize Practices Gathers Steam

Healthcare providers the world over are under pressure to improve patient outcomes at low costs. This requires the availability of patient data from multiple wings of treatment that can be connected for improved line of treatment. The use of healthcare informatics enables diverse clinical systems to be connected for healthcare professionals to make fast decisions. In order to facilitate this, players in the healthcare informatics market are striving to standardize practices, improve consistency in diagnosis, and deliver high quality patient care. The increasing availability of web-enabled patient information management system to fetch patient data is another step towards this.

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For instance, The IntelliSpace Cardiovascular informatics solution from Philips connects the clinical dots that allows easy access to a patient's cardiovascular pathway information.

Benefits of Valuable Insights for Complex Kidney Disorders and Clinical Research for Women's Health Favors Growth

The complex nature of renal transplantation that involves consultation from multiple specialists and laboratory wings is necessitating the use of technology for information sharing. Thus, to facilitate this, players in the healthcare informatics market are scaling up efforts to improve access to patient clinical data and faster information sharing needs via healthcare informatics.

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The role of healthcare informatics in the early intervention of chronic kidney diseases is creating new frontiers in the healthcare informatics market. The timely availability of patient data from multiple medical consultants plays a significant role to delay the progression of chronic kidney diseases. Efforts to develop algorithms to combine rule-driven and machine learning approach to detect kidney diseases at a specific stage are factors fueling the growth of the healthcare informatics market.

The elements of women's health primarily comprise reproductive health and breast condition that require various types of screening to prevent serious disorders. The use of medical informatics in gynecology and obstetrics helps to receive valuable insights for data about women's health that can be the focus area for clinical research. This creates opportunities in the healthcare informatics market.

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Healthcare Informatics Market – Growth Drivers

  • Advantages of real-time availability of patient data from multiple wings for patient care drive the healthcare informatics market
  • Initiatives to accelerate the development of informatics solutions for precision medicine in oncology promise growth of the healthcare informatics market

Healthcare Informatics Market – Key Players

Some of the key players operating in the healthcare informatics market are Medtronic, Health Gorilla, MV Informatica Nordeste Ltda., NXGN Management LLC, nThrive Revenue Systems LLC, Axiom Resource Management Inc., Benchmark Systems, Koninklijke Philips N.V., Cerner Corporation, LabVantage Solutions Inc., Allscripts Health Care LLLC, Agfa Healthcare Corp., and Cardinal Health, CNSI.

Global Healthcare Informatics Market: Segmentation

  • Healthcare Informatics Market, by Type
    • Hospital Information Systems
      • Electronic Health Record
      • Electronic Medical Record
      • Real-time Healthcare
      • Patient Engagement Solutions
      • Population Health Management
      • Others
    • Pharmacy Information Systems
      • Prescription Management
      • Automated Dispensing Systems
      • Inventory Management
      • Others
    • Laboratory Information Systems
    • Medical Imaging Information Systems
      • Radiology Information Systems
      • Monitoring Analysis Software
      • Picture Archiving & Communication Systems
      • Others
    • Health Insurance Information Systems
  • Healthcare Informatics Market, by Application
    • Renal Diseases
    • Autoimmune Diseases
    • Oncology
    • Cardiology
    • Gynecology
    • Respiratory Diseases
    • Others
  • Healthcare informatics Market, by End User
    • Hospitals
    • Specialty Clinics
    • Insurance Companies
    • Pharmacies
    • Others
  • Healthcare Informatics Market, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research: 

Drug Discovery Informatics Market: The global drug discovery informatics market was valued approximately US$ 2.0 Bn in 2016 and is anticipated to register CAGR of over 17.0% from 2017 to 2025 to reach value of approximately US$ 7.8 Bn by 2025. The cost and time of drug discovery are reduced to a very large extent in comparison with the traditional drug discovery process, these drivers are likely to fuel expansion of the global drug discovery informatics market from 2017 to 2025.

Medical Imaging Informatics Market: The medical imaging informatics market is growing globally due to rise in the number of diagnostic imaging procedures, high prevalence of chronic diseases, advanced application, and availability of cost effective medical informatics data storage platforms.

Hospital Information Systems Market: Some of the key driving factors for the hospital information systems market are government initiatives, initiatives from the private and public sector around the world and rapid technological enhancements, rising healthcare cost and changing world demographic have forced the government to enhance the healthcare.

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