HOSPITAL INFORMATION SYSTEM MARKET ANALYSIS

Market Challenges And Opportunities

Market Restraints:

1. Lack of proper IT infrastructure in developing regions is expected to hamper growth of the global hospital information system market. IT infrastructure improves the safety, effectiveness, access, timeliness, patient-centeredness, and efficiency. Poor IT infrastructure may contribute to poor quality of care and outcomes, particularly among vulnerable population groups.
2. Data security and privacy concerns are also expected to hinder growth of the global hospital information system market. According to the major healthcare data breaches reported over the years, the most common threats to data privacy and security include unauthorised access, data theft, data loss, hacking IT incidents, improper disposal of data, and more.

Market Opportunities:

1. The outbreak of COVID-19 is expected to offer significant growth opportunities for players in the global hospital information system market. For instance, according to the National Center for Biotechnology Information (NCBI), the pandemic required health information systems to rapidly adapt to identify, collect, store, manage, and transmit accurate COVID-19 related data.
2. Growing patient pool across the globe is expected to offer lucrative growth opportunities for players in the global hospital information system market. For instance, according to the World Health Organization (WHO), between 5.7 and 8.4 million deaths are attributed to poor quality care each year in low- and middle-income countries (LMICs), which represents up to 15% of overall deaths in these countries.