Healthcare Informatics and Patient Monitoring Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Software, Services), By Deployment (Cloud-Based, On-Premise), By End User (Hospitals, Ambulatory Surgical Centers, Home Health care) and Region Forecast 2019-2030

Healthcare Informatics and Patient Monitoring Market is expected to grow at a CAGR of 16.5% from 2023 to 2029. Healthcare informatics uses information technology to enhance the role of healthcare by improving quality and efficiency. Healthcare informatics is also known as biomedical informatics, medical informatics, nursing informatics, or clinical informatics among others. It enables health information management through the computerized systems between consumers, providers, payers, and quality monitors. Patient monitoring devices help the practitioners to decide on the treatment regimen and track the disease prognosis during the treatment in post-acute care and chronic diseases. The high cost involved with the installation of these healthcare informatics and patient monitoring systems has been a major stumbling block to industry growth.

In addition, the expense of maintenance and the resulting security worries about data storage are likely to stifle the worldwide healthcare informatics and patient monitoring market's growth. Furthermore, there is a major lack of consumer awareness regarding the advantages of using these systems in developing countries. This, too, is projected to limit global market expansion in the approaching years. Global Market report gives a comprehensive outlook on Healthcare Informatics and Patient Monitoring across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.