The healthcare industry has been expanding rapidly all over the world as the impending need for healthcare facilities has increased drastically over the last couple of decades, some of the reasons for the same being increased life expectancy and rising number of old-age population. This has increased the pressure on the hospitals to maintain the data related to the patients in an efficient way, which is critical to their functioning. The demand for high acuity information systems has witnessed a steep rise in the recent years due to an escalating patient volume in Emergency Department (ED), Operating Rooms (OR) and Intensive/Critical Care Units (I/CCU).
The high acuity information solutions comprise of sophisticated patient monitoring devices as well as software applications. The software are interfaced with the monitoring devices to enable the hospitals to collect, store, manage and analyze patient data for better clinical outcomes. On the other hand, monitoring devices are installed to measure and monitor various physiological parameters (vital signs) of a patient which helps the doctors to conclude the degree of his/her well-being. A number of hospitals are moving in this direction and incorporating high acuity information systems in their hospitals, the most recent one being the Dubai Health Authority, which is actively integrating biomedical devices to the Salama Medical Records System in high acuity areas in certain DHA hospitals.
The significance of this information system is gaining considerable traction globally and it is estimated that the global high acuity information solutions market will reach $13.69 billion by the end of 2025. The market will witness a healthy growth at a CAGR of 8% during 2017 and 2025. The growth of this market has been highly influenced by the efforts to reduce the number of deaths due to medical errors. Moreover, the need for better workflow management at hospitals and government support for the installation of these systems in the hospitals are driving the growth of this market.
The information systems are majorly installed in Operating rooms (OR), Intensive Care (ICU) and Emergency Departments (EDs) among others, as these areas deal with high acuity patients. The high acuity information systems segment comprises the largest products segment which accounted for a major share of the market in 2016 and is expected to witness a robust growth at a CAGR of 8% from 2017 to 2025, and expected to reach 8.2 billion by the end of 2025. However, the high acuity monitoring system is expected to reach $5.47 billion by 2025 growing at a CAGR of 8%. Patient safety is a key driver of this segment of the market as the continuous monitoring of patient’s physiological parameters is critical.
BIS Healthcare has conducted an extensive market research on ‘Global High Acuity Information Solutions Market (2017-2025)‘. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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