Global Clinical Information Systems market: Overview
Clinical information systems comprise various software solutions allowing effective clinical workflow. Various clinical systems comprise picture archiving and communication system (PACS), radiology information systems, pharmacy information systems, laboratory information systems, computerized physician order entry, and electronic medical records. The growth of the global clinical information systems market is likely to ride on the back of its growing popularity across the globe, particularly in the developed nations. However, the market in the developing countries is still in the very nascent stage. At present, clinical information systems are expected to dominate hospital information system (HIS) due to their increasing adoption and high price. However, financial constraints together with low level of awareness are expected to hamper growth of the global clinical information systems market in the years to come.
End use, product type, and region are three vital market factors based on which the global clinical information systems market has been classified.
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Global Clinical Information Systems market: Notable Developments
Some futuristic and important developments pertaining to the global clinical information systems market have taken place in the last few years.
- In May 2018, Vendor of electronic health record (EHR), Allscripts Healthcare Solutions, Inc, entered into an agreement with HealthGrid. The latter is a prominent enterprise patient engagement and mobile solutions provider and it also offers education and care materials to both patients and practices using paper.
Some of the prominent companies in the global clinical information systems market are listed below:
- Iatric Systems, Inc.
- GE Healthcare Systems
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc.
- Practice Fusion, Inc.
- Thermo Fisher Scientific Inc.
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Global Clinical Information Systems market: Key Trends
The global clinical information systems market is marked with the prevalence of the below-mentioned challenges, market drivers, and promising opportunities.
Technological Progress in the Healthcare Sector to Foster Growth of the Market
Clinical information systems (CIS) refer to a computer-aided system that rechecks, stores, and manages all the medical information in spaces like hospitals. In these places, notes of doctors, prescriptions, health history of patients, and any other important comment is stored together electronically. Through the process of capturing of clinical data, clinical information systems make delivery of clinical care and decision-making process much more effective and accurate. This also assists in the replacement of cumbersome paperwork. Riding on the back of such multiple benefits, the global clinical information systems market is anticipated to observe significant development over the projection period, from 2020 to 2030.
This solution also provides computerization of various repetitive tasks, offers automated recording of medical equipments observations and results, and high accuracy. However, the tasks of clinical information systems is not restricted to one single area but are quite extensive in nature and are spread over several aspects of clinical information. All these factors are likely to foster development of the global clinical information systems market over the timeframe of analysis, from 2020 to 2030.
Global Clinical Information Systems market: Geographical Analysis
In terms of regional segmentations, it is anticipated that North America is estimated to likely to emerge as one of highly lucrative region with plentiful opportunity for growth. The region is technically advanced and is a rapid adopter of latest technologies, which is likely to play an important role in the development of the clinical information systems market in North America in the years to come.
Asia Pacific is also estimated to come up as one of the rapidly growing regions in the market with plentiful opportunities to offer. Increasing investment in healthcare services and technology in the region is likely to augur well for the market in Asia Pacific.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.