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HEALTHCARE & PHARMACEUTICAL

Critical Care Information Systems Market Segmentation By Component (Software, Hardware, and Services); By Implementation Type (Cloud Based and On-premise) and By End User (Hospitals, Nursing homes, Clinics, and Emergency units) – Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Critical Care Information Systems Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • October 2019: Cerner Corporation announced that it had acquired the strategic IT consulting and engineering firm, AbleVets. The deal is aimed to benefit Cerner Corporation with technical expertise in its product line.

  • March 2020: Siemens Healthineers, a subsidiary of Siemens Healthcare GmbH, announced that it has received clearance from the U.S. Food and Drug Administration for its RAPIDPoint 500e Blood Gas Analyzer, a device used in critical care conditions, and is now available in Europe and other countries.

Introduction To Critical Care Information Systems

The implementation of the intensive care information system (CCIS) in the intensive care unit (ICU) aims to reduce the time that healthcare providers (HCPs) spend on documentation and the time spent on direct patient care. Nowadays, intensive care needs to be strengthened, taking into account the aging of the population and the socio-economic factors that affects health care. The intensive care information system can solve many problems in intensive care units like exorbitant treatment costs, severe nosocomial infections database, high LOS, low standard of care, low quality of care and improvements, an epidemic of medical errors, poor coordination of the intensive care team and lack of information required for clinical decisions and management decisions.

Market Size and Forecast

There is a significant increase in technological advances in the healthcare industry owing to the fact that it has the potential to improve healthcare and is considered to be the necessary solution for the clinical practice. Thus, there is a shift in towards technological advancements in healthcare which will enhance the market growth. The critical care information systems market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by component, by implementation, by end-user. In the component type, it is segmented into software, hardware, and services. Among these, services type is growing at a fast pace and has the largest market share. This is owing to the fact that the service system provides an important tool for more efficiently monitoring and managing the province's critical care resources, as well as highlighting opportunities for individual hospitals and to implement quality improvement measures. The data captured in the critical information system is also used to generate quarterly reports which highlights the improvements in the healthcare system. CLICK TO DOWNLOAD SAMPLE REPORT

Growth Drivers

Increase In The Utilization Of Technological Advances In Intensive Care

According to the published report of WHO, it called for international consultations with government, intergovernmental agencies, educational institutions, civil society, and industry stakeholders, for the design and implementation of AI and technological advances in the healthcare sector.

The critical care system can perform multiple tasks: Storing and processing clinical data and transform them into suitable formats for clinical decision making, bringing various data together  through an integrated system, monitoring of the vital parameters and detecting the specific problems, reminding guidelines to the intensive care team, improving decisions and clinical guidelines fulfillment, reporting resources utilization and epidemiology, and allow comparing of hospital costs, all these factors are the growth drivers and this is anticipated to significantly expand the critical care information systems market.

Restraints

High Costs Of Equipment And Challenges Faced In Development Of Software Systems

Despite the growing market for the critical care information system, the equipment requires a huge amount of financial support as well as proper planning. This could lead to a heavy expenditure for hospitals which many of them can't afford. Also, challenges faced in the development of these technologies creates this vicious cycle and acts as a restraint towards the market growth for the product.

Market Segmentation

Our in-depth analysis of the critical care information systems market includes the following segments:

By Component

  • Software
  • Hardware
  • Services

By Implementation Type

  •  Cloud-based
  • Premise based

By End User

  • Hospitals
  • Nursing homes
  • Clinics
  • Emergency units

By Region

Based on regional analysis, the critical care information systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America, followed by Europe, holds a significant share of the world critical care information system market, owing to the native presence of more technologically advanced institutions, successful implementation of MHT and eHealth in the medical field, improved healthcare pieces of equipment and IT sector boom in these regions. Latin America is predicted to exhibit vital growth within the critical care information systems market over the forecast period. Additionally, government initiatives to improve healthcare by the formation of enticing policies in countries like China and India are predicted to spice up the ICIS business, which is predicted to considerably contribute towards the expansion of the product market throughout the forecast period.

The critical care information systems market is further classified based on region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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