The healthcare interoperability solutions market size was valued at $5,320.0 million in 2022, and is expected to reach $21,544.6 million by 2032, registering a CAGR of 14.9% from 2023 to 2032. Interoperability in healthcare refers to timely and secure access, integration and use of electronic health data so that it can be used to optimize health outcomes for individuals and populations. As populations around the world age and people live longer, interoperability and data sharing are going to become increasingly critical for delivering effective healthcare. Interoperability is the ability of two or more systems to exchange health information and use the information once it is received.
The COVID-19 has affected the market negatively, as the focus has shifted from healthcare interoperability solutions, which are cost-intensive and long term projects, to other IT investments such as patient access management.
Request a Sample@ https://www.qyresearchmedical.com/sample/119540
The major factors driving the healthcare interoperability solutions market are adoption of cloud technology related to healthcare services. Electronic health record data is increasing rapidly, and therefore, it is difficult to store the bulk data on the local storage devices, as there is chance of losing essential data.
It is difficult to share the bulk amount of data via offline mode. Hence, adoption of healthcare interoperability solutions in the healthcare industry becomes necessary because it allows easy sharing and storage of big data, which in turn drives the healthcare interoperability solutions market around the world. In addition, implementation of various healthcare reforms by the governments has raised the demand for healthcare interoperability solutions in the market. For instance, on June 22, 2022, the U.S. House of Representatives introduced the Patient Protection and Affordable Care Enhancement Act (HR 1425). The bill was designed to strengthen and expand upon the Affordable Care Act (ACA), to curb healthcare expenditure. According to this act, healthcare organizations and physicians have to adopt healthcare interoperability solutions and services to make their operations easier, to improve clinical results and to reduce healthcare costs.
However, increase in concerns regarding the patient data safety & security acts as a restrain to the market. Safeguarding the patient information is a great challenge for healthcare companies, due to increase in cyber-attacks globally. According to the Insurance Information Institute organization, 47% Americans experienced financial identity theft in 2022 and there were 4.8 million identity theft and fraud reports received by the FTC in 2022. Such factors hamper the growth of the market.
The COVID-19 pandemic is an unprecedented global public health challenge and is anticipated to have a positive impact on the healthcare interoperability solutions market for R&D of vaccines and antiviral drugs. Technologies such as interoperability solutions are important in keeping healthcare records. The pandemic has amplified the need of interoperability solutions and services to become realities in the healthcare industry for accurate patient information, linked patient records, interoperability and cyber security continue to be at the forefront of healthcare concerns.
Furthermore, the Asia-Pacific region has a huge market potential for the healthcare interoperability solutions industry. India and China are two rapidly growing economies followed by South Korea, in the Asia-Pacific region. The governments in these countries are making several efforts to cater to the demand for better healthcare services and healthcare infrastructure owing to surge in economies. Hence, it is anticipated that the Asia-Pacific region is expected to create new opportunities during the forecast period.
The healthcare interoperability solutions market is segmented on the basis of level, deployment, end-user and region. By level, the market is segregated into foundational, structural and semantic. On the basis of deployment, the market is divided into cloud-based and on-premise. On the basis of end-user, the market is divided into healthcare providers and healthcare payers. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
On the basis of level, in 2022, the structural segment dominated the healthcare interoperability solutions market, in terms of revenue, whereas the semantic segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of deployment, in 2022, the cloud-based segment dominated the healthcare interoperability solutions market and is expected to witness growth at the highest CAGR during the forecast period. Depending on end-user, the healthcare providers segment led the market in 2022, in terms of revenue. Whereas, the healthcare payers segment is anticipated to exhibit the highest CAGR in the coming years. Region wise, North America garnered the highest revenue in 2022; however, LAMEA is anticipated to register highest CAGR during the forecast period.
Competition Analysis
The major players profiled in the healthcare interoperability solutions market include Allscripts Healthcare, LLC, Cerner Corporation, Epic Systems Corporation, Infor, InterSystems Corporation, Jitterbit, Koninklijke Philips N.V., NextGen Healthcare, Inc., Orion Health and ViSolve Inc. Major companies in the market have adopted product launch, business expansion and acquisition as their key developmental strategies to offer better products and services to customers in the healthcare interoperability solutions market.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current trends, future estimations, and dynamics of the healthcare interoperability solutions market.
- In-depth healthcare interoperability solutions market analysis is conducted by estimations for the key segments between 2021 and 2030.
- Extensive analysis of the healthcare interoperability solutions market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
- The healthcare interoperability solutions market forecast from 2021 to 2030 is included in the report.
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry.
Key Market Segments
By Level
- Foundational
- Structural
- Semantic
By Deployment
- Cloud-based
- On-premise
By End-Users
- Healthcare Providers
- Healthcare Payers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Allscripts Healthcare, LLC
- Cerner Corporation
- Epic Systems Corporation
- Infor
- InterSystems Corporation
- Jitterbit
- Koninklijke Philips N.V.
- NextGen Healthcare, Inc.
- Orion Health
- ViSolve Inc.
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119540/
You can place an order or ask any questions, please feel free to contact [email protected] | +1 9197 992 333
Blog: https://www.novaoneadvisor.com/
Blog: https://www.visionresearchreports.com/
About Us
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/