LONDON--(BUSINESS WIRE)--In 2010 the worldwide Hospital information Systems market reached a value of $7.4 billion, according to a new report available on companiesandmarkets.com. By 2017, it is expected to achieve a value of $14.7 billion - a growth rate of 10% p/a. Advancements in technology, combined with increased investment in public and private healthcare sectors are driving the hospital information systems market.
Hospital Information Systems (HIS) - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2017
The largest market for Hospital Information Systems is the US which holds a 31% share, valued at $2.3 billion. This market is anticipating growth of 12% p/a to 2017, when it should reach over $5.1 billion. Growth in the US HIS market is being driven by President Obama’s Health Information Technology for Economic and Clinical Health Act, which will contribute $27 billion to healthcare providers to encourage adoption of IT. In 2010, GE Healthcare held a 13% market share, followed by Siemens with 11%. GE’s $6 billion ‘Healthymagination’ programme has developed integrated healthcare systems which are being used by many governments in their quest for cost-efficient healthcare solutions.
The Hospital Information Systems market is highly fragmented, with 48% of the market held by six participants. A recent trend has been consolidation, with companies entering into M&A agreements to become more competitive. High market potential of HIS has encouraged the entry of smaller, niche businesses, although major telecommunications and IT companies are also active in the HIS market.
Other influential companies referenced within the HIS research report include Allscripts Healthcare Solutions, Cerner Corporation, iSOFT Group Limited and McKesson Corporation.
The 115 page July 2011 report provides a comprehensive overview of the Hospital Information Systems market, including historical and forecast data (2003-2017). Information is split geographically by Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Spain, UK and US. The HIS research report also incorporates trends, M&A activity, market drivers/barriers, regulations and other market influences.
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