Healthcare Interoperability Solutions Market Analysis- Industry Share, Size, Trends, Demand, Revenue, Growth, Regional Segmentation and Forecast

Healthcare Interoperability Solutions Market

Healthcare Interoperability Solutions Market research report is always helpful to business or organization in every subject of trade for taking better decisions, solving the toughest business questions and minimizing the risk of failure. The most advanced tools and techniques have been used to structure this report such as SWOT analysis and Porter’s Five Forces Analysis. The studies of this report carefully analyzes the market status, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, and distributors. Moreover, different segments of the market taken into consideration in the market report gives better market insights with which a reach to the success gets extended.

The credible report takes into consideration several base factors namely the market type, organization size, availability on-premises, the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. This market report is an excellent resource to acquire recent as well as upcoming technical and financial details of the industry to 2029. While generating an influential market report, data has been analysed from the markets on the local, regional as well as global level. A huge amount of information related to business, product and market with respect to business needs has been brought together in this report to assist businesses create better strategies.

Data Bridge Market Research analyses that the healthcare interoperability solutions market is expected to reach the value of USD 139.93 million by the year 2029, at a CAGR of 8.40% during the forecast period. “Healthcare providers” accounts for the largest end user segment in the healthcare interoperability solutions market owning to the presence of government mandates and rise in healthcare costs.

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Healthcare Interoperability Solutions Market research report enlists the chief competitors and presents the strategic insights and analysis of the key factors influencing the industry. This market report guesstimates the growth rate and the market value based on market dynamics and growth inducing factors. The major areas of this report comprises of market definition, market segmentation, competitive analysis and research methodology. Moreover, as it is important for the businesses to acquire knowhow of consumer’s demands, preferences, attitudes and their changing tastes about the specific product, this market report bestows with all of this. Healthcare Interoperability Solutions Market report best suits the requirements of the client.

Market Analysis and Size

In recent years, healthcare interoperability has become one of the significant needs across health systems. These healthcare interoperability solutions can address strategy development, patient access API management, data curating and management, implementation and support, and consent management. Interoperability solutions do not just assist in compliance with industry requirements but also work towards digital transformation.

Competitive Landscape and Healthcare Interoperability Solutions Market Share Analysis

The healthcare interoperability solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to healthcare interoperability solutions market.

Major Players:-

Allscripts Healthcare, LLC, Cerner Corporation, Epic Systems Corporation, Infor, iNTERFACEWARE Inc., InterSystems Corporation, Jitterbit, NXGN Management, LLC, Koninklijke Philips N.V., ViSolve Inc., Orion Health group of companies, OSP Labs, AM HEALTHCARE TECHNOLOGY, Deevita LLC, GENERAL ELECTRIC COMPANY, and IBM among others.

Study Coverage:

The report defines, describes, and forecasts the Healthcare Interoperability Solutions Market, by technology, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Healthcare Interoperability Solutions Market.

This Healthcare Interoperability Solutions Market research report has several benefits which can be projected to varied aspects of medical device industry. This Healthcare Interoperability Solutions Market report takes into account diverse segments of the market analysis that today’s business ask for. In this report, market is segmented based on mainly type, application, and region. The report includes market analysis based on regional as well as global level. Moreover, this Healthcare Interoperability Solutions Market report serves the purpose of validating the information that has been gathered through internal or primary research. The report describes estimations of CAGR values, market drivers and market restraints about the medical device industry which are helpful for businesses in deciding upon numerous strategies.

Recent Development

  • Infor, the industry cloud company has launched a new interoperability solution for the healthcare sector, “FHIR Server”, in July 2021. The new solution promises to help healthcare organizations leverage and analyze their data better. Infor FHIR Server is being considered as one of the most modern, advanced, and scalable FHIR servers commercially available in the current market.
  • Epic Systems (US) partnered with Anthem, Inc. (US) in May 2021 to address potential gaps in care by harnessing Epic’s Payer Platform and easing administrative burdens.
  • Koninklijke Philips N.V. (Netherlands) signed an agreement to acquire Capsule Technologies, Inc. (US) in In January 2021 to transform care delivery.

Market Definition

Interoperability in healthcare is the integration and use of electronic health data, along with timely and secure access to improve health outcomes for individuals and populations. At present, the health care industry is highly focused on enhancing the quality of health care facilities and operational efficiency, declining medical errors that occur while conducting various medical procedures, and minimizing the cost of operations. These solutions can exchange health information across two or more systems and further utilize the data once it is received. Lack of interoperability and integration among payers, pharmacies, clinicians, patients, and even legislators could weaken the unified Healthcare continuum.

Key Benefits of Buying the Report

The report identifies and addresses the key markets for Healthcare Interoperability Solutions Market operations and services, which would help equipment manufacturers and service providers review the growth in demand.

The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.

The report will help key players understand the strategies of their competitors better and help the min making better strategic decisions.

Healthcare Interoperability Solutions Market Dynamics

  • The rise in the adoption of electronic health records (EHR)

It is a challenge to store the bulk data generated by the electronic health records (EHR) on the local storage devices due to the risk associated with the loss of essential data. Hence, deploying these interoperability solutions in the healthcare sector becomes critical to enable easy sharing and storage of big data.

  • The increase in the cost of operations and the decline in reimbursements for laboratory services

The surge in the cost of various medical procedures, along with the reduction in reimbursements for laboratory services, accelerate the demand for healthcare interoperability solutions across healthcare providers and healthcare payers.

  • Regulatory Compliance

Maintaining compliance with medical reforms and regulations raises the demand for these solutions.

  • Government investments for healthcare interoperability

The increase in the funding by the federal government to drive the adoption of these solutions further influence the market.

Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the healthcare interoperability solutions market.

Opportunities

  • Advancements in software technology

Furthermore, advancements in software technology extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, a high emphasis on streamlining imaging workflows will further expand the healthcare interoperability solutions market’s growth rate in the future.

Restraints/Challenges

  • Lack of accurate interoperability solutions
  • Complexity with lack of consistent data

On the other hand, a lack of accurate interoperability solutions, an absence of standards, and outdated legacy systems are expected to obstruct market growth. Also, complexity with lack of consistent data and concerns regarding data privacy are projected to challenge the healthcare interoperability solutions market in the forecast period of 2022-2029.

This healthcare interoperability solutions market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.

Covid-19 Impact on Healthcare Interoperability Solutions Market

Dr. Petra Wilson, European Program Director of the UK’s Personal Connected Health Alliance, states, “We are at a point now where we can really see some of the benefits that have arisen out of the crisis for digital health” in a HIMSS webinar held on November’2021. High need for healthcare interoperability solutions is emerging with the COVID crisis, as these systems can talk to each other across national and regional boundaries and have been acknowledged globally. One of the biggest challenges faced during the pandemic was ineffective data exchange. Data sharing through interoperability has become even more critical with the emergence of new variants of the coronavirus.

Table of Contents:

 

  1. Introduction
  2. Market Segmentation
  3. Market Overview
  4. Executive Summary
  5. Premium Insights
  6. By Component
  7. Product Type
  8. Delivery
  9. Industry Type
  10. Geography
    • Overview
    • North America
    • Europe
    • Asia-Pacific
    • South America
    • Middle East & Africa
  11. Company Landscape
  12. Company Profiles
  13. Related Reports

 

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Global Healthcare Interoperability Solutions Market Scope and Market Size

The healthcare interoperability solutions market is segmented on the basis of type, level of interoperability, deployment and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Software Solutions
  • Services

On the basis of type, the healthcare interoperability solutions market is segmented into Software Solutions and Services. Software Solutions are further segmented into EHR interoperability solutions, lab system interoperability solutions, imaging system interoperability solutions, healthcare information exchange interoperability solutions, enterprise interoperability solutions and other healthcare interoperability solutions.

Level of Interoperability

  • Foundational Interoperability
  • Structural Interoperability
  • Semantic Interoperability

On the basis of level of interoperability, the healthcare interoperability solutions market is segmented into foundational interoperability, structural interoperability, and semantic interoperability. The semantic segment is projected to witness the highest growth during the forecast period in terms of revenue. Whereas, in the past, the structural part dominated the healthcare interoperability solutions market.

Deployment

  • Cloud-based
  • On-premise

On the basis of deployment, the healthcare interoperability solutions market is segmented into cloud-based and on-premises. The cloud-based segment dominates the market and is expected to witness highest growth in the coming years.

End User

  • Healthcare Providers
  • Healthcare Payers
  • Pharmacies

On the basis of level of interoperability, the healthcare interoperability solutions market is segmented into healthcare providers, healthcare payers and pharmacies. Healthcare providers segment is further divided into hospitals and clinics, long-term care centers, diagnostics and imaging centers and other healthcare providers.

 

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Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The healthcare interoperability solutions market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for healthcare interoperability solutions market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the healthcare interoperability solutions market. The data is available for historic period 2010-2020.

 

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