Healthcare HEALTHCARE INTEROPERABILITY SOLUTIONS MARKET IS PROJECTED TO GROW UP TO 12.9% CAGR DURING ...


HEALTHCARE INTEROPERABILITY SOLUTIONS MARKET IS PROJECTED TO GROW UP TO 12.9% CAGR DURING THE FORECASTING PERIOD 2021-2027.

As technology is commonly used to engage patients, consumers, and caregivers, provide real-time information, and help care delivery with better data and analytics, health care is undergoing a major transformation. The health-care industry is currently focusing on better healthcare facilities and operational performance, lowering procedure costs, and reducing medical errors that occur during different medical procedures. In healthcare, interoperability refers to the ability of various information technology systems to communicate and share useful data. This helps providers to see all of the information about a patient who is being treated. Interoperability in healthcare is critical, and as new technology innovations emerge, healthcare organisations are adopting connected health and interoperability for more than just compliance—about it's enhancing patient outcomes. And the rate of expansion is outpacing what the healthcare industry saw a few years ago with electronic prescription (e-prescribing) in Electronic Health Records (EHRs). Some pharmacies were participating at the time, but by the end of the year, nearly all of them had signed up. The market for linked health and interoperability is fierce today.

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Key Driving Factors:

Health care agencies' increased emphasis on health care interoperability solutions, increased investments in upgrading health care services, increased government programmes for improving patient care, increased government support for health care interoperability, and increased focus on patient-centric care delivery have all changed many aspects of medical practises. Health care interoperability solutions are widely used in hospitals, resulting in significant growth in the global market for health care interoperability solutions. However, the demand is likely to be restrained during the forecast period due to a shortage of qualified health care IT experts, a rise in sophistication due to a lack of reliable data, and data privacy concerns. Moreover, The growing need to manage rising healthcare costs, as well as government measures to improve patient care and protection, are driving the growth of this sector. The market is also growing due to a growing emphasis on patient-centric care delivery and government support for healthcare interoperability.

This report offers the major market player’s profiles, such as Cerner Corporation (US), Infor, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), Koninklijke Philips NV (Netherlands), Intersystem Corporation (US), Orion Health Group Limited (New Zealand), interface WARE (Canada), Quality Systems, Inc. (US), OSP Labs (US), Epic Systems Corporation (US), VI Solve, Inc. (US), and Jitterbit (US).

Regional Insights:

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa make up the demand for health care interoperability solutions. In 2018, North America dominated the market share. Some of the major factors driving the adoption of interoperability solutions in this area are an increase in demand for efficient healthcare services, a desire to minimise healthcare spending, and successful EHR implementation by healthcare organisations. During the forecast period, Asia Pacific is expected to expand at a faster rate. Major factors driving growth in this area include increased medical tourism, the demand for high-quality healthcare, and increased government spending on healthcare facilities. Furthermore, in densely populated countries like India and China, a large patient pool produces a large amount of patient data per year, necessitating successful data exchange between pharmacies and hospitals.

The Healthcare Interoperability Solutions Market report has been categorized as below

By Type

  • Software Solutions 
  • EMR/EHR Interoperability Solutions
  • Lab Systems Interoperability Solutions
  • Imaging Systems Interoperability Solutions
  • Healthcare Information Exchange Interoperability Solutions
  • Enterprise Interoperability Solutions
  • Other Interoperability Solutions (Medical Billing Interoperability Solutions, Practice Management Software, and System Document Management, etc.)
  • Services

By Interoperability Levels

  • Foundational Interoperability
  • Structural Interoperability
  • Semantic Interoperability

By End User

  • Healthcare Providers
  • Hospitals and Clinics
  • Long-term Care Centers
  • Diagnostic and Imaging Centers
  • Other Providers (Accountable Care Organizations, Academic Research Centers, and Blood Banks)
  • Payers
  • Pharmacies

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

By Segmentation:

The market is divided into two types: Software Solutions and Services. The service segment accounted for the largest share of the industry. The factors influencing the growth of the services segment include the transition to Cloud Computing, decreased operating costs for quicker and better performance of business processes, and recurring costs of services such as software upgradation/update and maintenance. The market is divided into Foundational Interoperability, Structural Interoperability, and Semantic Interoperability based on Interoperability Level. Because of the widespread adoption of technologies such as e-prescribing, which allows prescribers and pharmacists to use the same data, Structural Interoperability retained the largest market share. The sector is divided into Healthcare Providers, Healthcare Payers, and Pharmacies based on Industry Vertical. The highest market share was retained by the healthcare provider. Supportive government policies and the implementation of various IT tools in healthcare environments, including HER, are among the factors.

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Published Date : May-2021