Healthcare Information Exchange Market Size, Competitor Strategy, Regional Analysis & Industry Growth Forecast to 2026
Market size – USD 1227.4 million in 2018, market growth – CAGR of 9.4%, market trends – product launches and research for advanced technological developments
NEW YORK, NY, USA, December 11, 2021 /EINPresswire.com/ — Based on the current analysis, the Health Information Exchange Market was valued at USD 1227.4 million in 2018 and is expected to reach USD 2552.9 million by 2026, at a CAGR of 9.4%. Health Information Exchange (HIE) is the electronic transformation of health care data between medical institutions, health information organizations, businesses that require and govern the exchange of such data. Electronic HIE allows healthcare professionals such as doctors, nurses, pharmacists and patients to appropriately access and securely share a patient’s vital medical information electronically, improving the timeliness , quality, safety and cost of patient care. Although HIE generally refers to the act of exchanging information between two or more organizations or healthcare providers, it can also refer to an organization responsible for facilitating the exchange. HIE’s goal is to promote appropriate and secure access and retrieval of patient information to improve the cost, quality, safety and timeliness of patient care. The demand for electronic HIE among healthcare professionals is increasing alongside global efforts to improve the quality, safety and efficiency of healthcare delivery, which is expected to drive the growth of the healthcare exchange market health information.
The health information exchange market services aim to help their providers reduce medication and medical errors, eliminate unnecessary paperwork, provide caregivers with clinical decision support tools for treatment more efficient, improve public health surveillance and reporting, improve health care quality and reduce health care costs.
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A comprehensive analysis of the value chain and downstream raw materials and upstream essentials are offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and microeconomic factors, and globalization. The report further segments the Healthcare Information Exchange market based on key companies, product types, applications, and key regions to enable a better understanding of the Healthcare Information Exchange market. .
Leading companies profiled in the report are:
GE, eClinicalWorks, Siemens AG, Orion Health, Medicity, IBM Corporation, CareEvolution, Cerner Corporation, RelayHealth Corporation, and Allscripts Healthcare Solutions, Inc.
Main findings of the report
• In the health information exchange implementation model segment, the hybrid model segment is expected to grow at a profitable rate due to the related benefits, such as improved delivery of patient care and improving the operational efficiency of practices
• Based on applications, the internal interfacing segment is the fastest growing segment with a growing CAGR of 10.1% in the health information exchange market during the period forecast. Internal interfacing is expected to propel demand in the health information exchange market
• North America dominated the health information exchange market with a market share of 44.4% due to the existence of huge companies, favorable establishment policies and the growing implementation of HER
• GE and Microsoft have announced their intention to create a joint venture that will enable healthcare teams to improve quality, performance and the patient experience. New partnership will deliver something truly different: the industry’s first solution to enable population health management to change the economics of health and wellness
• The National Rural Health Resource Center has made available a set of practical HIE resources to help providers understand and implement health information exchange
• Asia-Pacific is expected to grow rapidly at a CAGR of over 10.6% during the forecast period in the healthcare information exchange market owing to rising levels of disposable income, increased awareness among health professionals of health information exchange systems
• HIE enables patient engagement, providing patients with an electronic copy of their medical information that they can share with their healthcare providers. Research has also found that using the HIE can improve patient-provider communication and patient satisfaction.
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For the purposes of this study, the HIE market is segmented on the basis of application, implementation model, solution type, type of exchange configuration, and regions:
Application Outlook (Revenue USD Million; 2016-2026)
• Web portal development
• Internal interfacing
• Workflow management
Implementation Model Outlook (Revenue USD Million; 2016-2026)
Solution Type (Revenue in USD Million; 2016-2026)
• Centered on the portal
• Centered on the platform
• Focused on messaging
Exchange Setup (Revenue in USD Million; 2016-2026)
• Private HIE
• Public HIE
Key Regions Covered in the Report:
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
The pharmaceutical and healthcare industry, in recent years, has undergone a paradigm shift with regards to the adoption of advanced technologies. The integration of AI, ML, 3D printing and augmented reality/virtual reality accelerated the R&D process, developed innovative and personalized drugs and therapies, and improved efficiency and effectiveness overall healthcare treatment, improving patient outcomes. Furthermore, the growing popularity and acceptance of wearable technology that enables patients to manage their health and make fruitful decisions and the increasing integration of patient monitoring systems have further contributed to the market revenue growth. Advances in genomics and proteomics, emphasis on personalized medicine, and growing number of clinical trials for therapeutic products in development are further expected to create lucrative opportunities for major market players.
Key Benefits of the Global Health Information Exchange Market Report:
• In-depth analysis of market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges and risks
• Analysis of market opportunities and key trends to help stakeholders capitalize on emerging insights
• Accurate analysis and estimation of global health information exchange market forecasts
• Study of key players, including SWOT analysis and Porter’s five forces
• Analysis of each market segment and sub-segment to determine growth trends and their contribution to the market
• Study of developments in the competitive landscape such as agreements, partnerships, expansions, new product launches and brand promotions, and other market characteristics
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Highlights of the report table of contents:
• Chapter 1: Market Overview
• Chapter 2: Global Health Information Exchange Market Analysis
• Chapter 3: Regional Analysis of Health Information Exchange Industry
• Chapter 4: Market segmentation based on types and applications
• Chapter 5: Revenue Analysis by Types and Applications
• Chapter 6: Market share
• Chapter 7: Competitive Landscape
• Chapter 8: Drivers, constraints, challenges and opportunities
• Chapter 9: Gross Margin and Price Analysis
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