The market for European hospital information systems (HIS) is projected to grow from $3.131 billion (U.S.) in 2003 to $6.343 billion in 2010, primarily driven by the active implementation of hospital clinical information systems in European markets such as the U.K., Germany, and France, according to an analysis from market research group Frost & Sullivan.
In particular, the clinical segment of the HIS market is likely to provide the most growth opportunities to vendors, the firm said. This is because the healthcare industry is banking on clinical decision-support systems to deliver cost efficiencies, increase quality, and improve clinical workflow. Estimated at $1.892 billion in 2003, the segment is projected to grow at a compound annual growth rate of 12.3% between 2003 and 2010, Frost said.
In its report, European Hospital Information Systems Market, the group said that some of the clinical systems generating interest include PACS, RIS, electronic medical records (EMR), and computerized physician order entry (CPOE) systems.
Although the European HIS market is dominated by established vendors of legacy systems, new vendors seeking a toehold in the market may find leverage with competitive pricing, integrated healthcare IT solutions, and advanced functionality, Frost said.
By AuntMinnie.com staff writers
August 19, 2004
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