The European market for hospital information systems generated revenues worth $3.4 billion (2.35 billion euros) in 2008, according to a new report by San Antonio market research firm Frost & Sullivan.
The report states that although most European hospitals have some kind of information system in place, few have fully functional HIS software installed. The market is expected to grow to $4.26 billion (2.94 billion euros) by 2015, the report states.
The adoption rate of HIS software varies by country, ranging from 95% in Scandinavia to 73% in Italy. Increasing accountability pressures on the government and regulatory authorities to garner more investments into healthcare IT adoption is boosting the potential of the HIS market, according to the report.
The European HIS market's growth rate is lower because of the decreasing number of potential end users year after year, as the market's penetration rate has almost reached its saturation level. Currently, annual maintenance and replacements systems are the main sources of revenues for the vendors, and future revenues will depend on the recurring revenues from annual support and maintenance contracts and replacement systems.
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