The global hospital information systems (HIS) market will exceed $18bn in 2016, rising from $7.8bn in 2009, a Global Data report has predicted.

Global Data expects the market to grow from its 2009 level at a compound annual growth rate (CAGR) of 13%.

The largest segment of the HIS market, electronic medical records, is expected to grow at a CAGR of 15.3% over the next seven years.

Practice management, the second largest segment, is predicted to expand at a CAGR of 10.8% over the same period.

The computerised physician order entry, pharmacy information systems and laboratory information systems segments are expected to grow at a CAGR of 12.1%, 9.7% and 10.6% respectively.

With many current hospital management systems deemed insufficient, physicians and healthcare organisations around the world are now planning to adopt more electronic medical record technologies to improve patients’ safety and the quality of care.

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By GlobalData

Governments in Australia, Canada, Denmark, Finland, France, New Zealand, the UK, the US and other countries are building integrated computer-based national healthcare infrastructures with an aim to deploy electronic medical record systems within the next ten years.