The healthcare interoperability solutions market is anticipated to grow at a CAGR 8.2% during the forecast period. The factor such as increasing focus on patient care and government initiatives for improving the patient care experience is propelling the growth of the healthcare interoperability solutions market. Interoperability of systems, data access, and information exchange play an important role in enhancing health outcomes. Mobilizing data related to individual health across the spectrum of care providers in health organizations that enable coordinated and high-quality care which supports transparency efforts, payment reforms and the ability to manage their health. Therefore, advantages provided by healthcare data interoperability software boost the growth of the industry. The healthcare data interoperability is a platform that provides information about patient clinical history. This platform allows healthcare professionals to have access to accurate and comprehensive data.
The rising adoption of EHR (Electronic Medical Records) software in the developed and emerging regions has shown a positive impact on the growth of the healthcare interoperability solutions industry. The need for data interoperability software has growing due to rising need to offer effective healthcare services. Growing healthcare costs boost the demand for data interoperability software to aids healthcare organizations to access medical data of patients easily thereby decreasing the number of test and making easier for staff to co-ordinate in the organization. The various data interoperability solutions are largely deployed in different healthcare facilities such as hospitals and home medical centers. For instance, an e-prescribing interoperability solution offers providers of ambulatory surgical center services to electronically send prescriptions to drug stores. The lack of awareness related to healthcare data interoperability in emerging economies may hamper the growth of the healthcare interoperability solutions market over the forecast period.
Segmental Outlook
The market is segmented on the basis of level, deployment type, and end-user. Based on level, the market is segmented into semantic, structural and foundational. Structural is expected to have considerable market growth due to the high adoption of technology such as e-prescribing wherein the same data are utilized in pharmacists and prescribers. The semantic segment is expected to have a significant growth rate in the healthcare interoperability solutions market. Semantic aids healthcare professionals to exchange, interpret and use clinical information to offer proper treatment. It maintains the data which makes it reliable for the doctor to analyze information accurately.
Additionally, the semantic level of interoperability secured the electronic exchange of patient's information in the diagnostic centers and hospitals that lead to being a cost-effective option. Therefore, the advantages provided by the semantic segment will drive the growth of the segment in the healthcare interoperability solutions market. Based on the deployment type, the market is sub-segmented into cloud-based and on-premises. Based on end-users the market is sub-segmented into hospitals and diagnostic centers and ambulatory surgical centers.
Cloud-Based healthcare interoperability solutions to hold the largest market share
Based on the deployment type, the market is segmented into cloud-based and on-premises. Cloud-Based is expected to have the largest market share in the market during the forecast period. The software aids secured exchange of data effectively within less duration and larger information exchange is possible with cloud-based software which is contributing to the growth of the segment. The cloud-based software has various benefits as compared to on-premises software. On-premise software aids transfer of information in various departments of single healthcare organizations whereas cloud-based aids exchange of data across the globe without interruptions. Therefore, doctors and diagnostics labs have a large preference for cloud-based software that boosts the growth of the segment.
Regional Outlook
The global healthcare interoperability solutions market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World.North America is anticipated to have the largest market share in the market due to the introduction of favorable government policies pertaining to the profitable use of EHR software in data interoperability. Moreover, large scale spending by the government for effective healthcare digitization and secured data swapping across the healthcare sector have shown a positive impact on the growth of the region. The growing number of clinics and hospitals in the US fuel the growth of the healthcare interoperability solutions market.
Asia-Pacific will augment with the fastest rate in the market
The market in Asia-Pacific is expected to be the fastest-growing region mainly owing to growth in medical tourism activities along with the rising need for high-quality healthcare amenities in emerging economies such as China and India. Furthermore, large patient population pools in the region in the requirement of effective data exchange in pharmacies, clinics, and hospitals.
Market Players Outlook
The major players of the healthcare interoperability solutions market include Allscripts Health Solution, Inc., Ciox Health, Epic System Corp., Experian Health, Cerner Corp., Jitterbit, Inc., InterSystems Corp.,Koninklijke Philips N.V., Oracle Corp., Orion Health Group, Ltd., iNTERFACEWARE, Inc. and Infor, Inc.
Request Customization
Get a Sample
Get a Sample
Request Customization