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(Health-NewsWire.Net, April 13, 2021 ) High Acuity Information Systems Market size in 2020 is estimated to be $8.6 billion, growing at a CAGR of 5.9% during the forecast period 2021-2026. High-acuity information systems are integrated computer-based platforms composed of both software and hardware to help health care providers to manage their patients more efficiently and improve the quality of care. High-acuity information systems provide all the patient information in accurate manner and it is very useful while operating patient. This system saves the time and helps to make authenticity of data with help of Electronic patient record. High acuity information system usually utilized in intensive care unit, operating unit and others which include surgical information system, vital sign monitor and others. Increasing demand for higher standards of care, coupled with rising number of hospitals and beds in worldwide, are the major factors driving the growth of the market. Moreover, growing technological advancement in High Acuity Information Systems coupled with rising government initiative to implement health IT enhance the overall demand for High Acuity Information Systems Market during the aforesaid period.
High Acuity Information Systems Market Segment Analysis - By Type
Based on the type, High Acuity Information Systems Market is segmented into Intensive Care Unit Information (ICU) System, Anaesthesia Information System, Emergency Department Information System, others. The Intensive Care Unit Information (ICU) System segment is estimated to dominate the market during the period 2021-2026. This is attributed to rising usage of Intensive Care Unit Information (ICU) System as it provides cares for patients with acute, life-threatening illness or injury. The Anaesthesia Information System segment is projected to be the fastest-growing segment and is forecast to grow at a CAGR of 5.1% during the period 2021-2026. This is mainly since they are more trusted, provide basic record-keeping function and also have the ability to read and write data from the main hospital clinical data repositories.
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High Acuity Information Systems Market Segment Analysis - By End-User
Based on the End-User, High Acuity Information Systems Market is segmented into Hospitals, Ambulatory Surgical Centres, Nursing Care Facilities, others. In 2020, hospital is estimated to hold major share in the market. This is mainly owing to the large target patient population base especially in emerging countries preferring hospitals. Moreover, rising emphasis on effective and early disease diagnosis in hospital are also contributing to the dominance of this segment. Also, Ambulatory Surgical Centres is projected to grow with a CAGR of 4.8% over the period 2021-2026. This is owing to the introduction of technologically advanced information systems in these centres.
High Acuity Information Systems Market Segment Analysis - By Geography
North America dominated the High Acuity Information Systems market share accounting for 41% of the market in 2020. This is mainly owing to rising number of aging population in this region which leads to high demand for high acuity information systems. According to, report published by U.S. Department of Health and Human Services in 2018, The Administration for Community Living, in U.S. the population age 85 is projected to more than double from 6.5 million in 2017 to 14.4 million in 2040.
However, the Asia-pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to rising expenditure on healthcare which leads to demand for technologically advanced High Acuity Information Systems.
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High Acuity Information Systems Market Drivers
Increasing Demand for High Standard Care
Increasing demand for high standard care and accuracy of the data is driving the growth of High Acuity Information Systems market. High Acuity Information Systems provide patients with more acute care and closer monitoring with the help of Electronic patient record than a general hospital ward which include Intensive Care Units, surgical information systems, Vital Signs Monitor. Moreover, rising number of geriatric population is leading to consequences, like greater incidences of chronic and life-threatening diseases that lead to hospitalization is also set to increase the market growth. According to the World Health Organization (WHO), in 2017, the global population aged 60 years or over was around 962 million and is projected to reach about 2.1 billion by 2050.
Rising Technological Advancement
Increase in research and development in high acuity information system with technologically advanced features is also driving the market. The advancement in R & D of high acuity information system provides more patient care and management. For instance, Advance ICU Care launched tele-ICU care with CentraState Medical Centre. Tele- ICU care is advance ICU care provide patient care. Also, rising number of patient admissions to different departments of a hospital such as critical care/intensive care unit (ICU), emergency department (ED) and operation theatre (OT) is also set to the growth of High Acuity Information Systems Market.
High Acuity Information Systems Market Challenges
Introduction of data analytics, decision support system and mobility is challenging the market. Along with this the funds required in continuously upgrading the system, lack of knowledge in using the system and maintenance of the software are also further challenging the growth of the market.
COVID-19 Impact
Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the High Acuity Information Systems market including management of Intensive Care Unit Information (ICU) System, Anaesthesia Information System, and Emergency Department Information System owing to staff issues. Also owing to spread of corona, non-essential medical procedures which are not linked to treatment of COVID-19 were affected. These affects High Acuity Information Systems market.
High Acuity Information Systems Industry Outlook
Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the High Acuity Information Systems Market. High Acuity Information Systems top 10 companies are All Scripts Healthcare Solutions Inc., Epic Systems Corporation, Cerner Corporation, Dragerwerk AG & Co., The Merck Group, Computer Sciences Corporation, iSOFT Group Limited., Optum Inc.¸ Picis Clinical Solutions, Inc., and McKesson Corporation
Acquisitions/Product Launches:
In July 2020, Advanced ICU Care launched tele- ICU services with collaboration Salem Regional Medical Centre (SRMC), located in Salem, Ohio. Tele- ICU care is advance ICU care provide patient care.
Key Takeaways
In 2020, North America dominated the High Acuity Information Systems Market owing to the rise in geriatric population of this region.
Increasing development in healthcare infrastructure across the globe is driving the market growth of High Acuity Information Systems.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the High Acuity Information Systems Market report.
Introduction of data analytics, decision support system and mobility are challenging the growth of the market.
Related Reports :
A. Healthcare Information Systems Market
https://www.industryarc.com/Report/4339/Healthcare-Information-Systems-Market-Research-Report.html
B. Hospital Information Systems Market
https://www.industryarc.com/Research/Hospital-Information-Systems-Market-Research-503940
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