Overview and Scope
The Healthcare Interoperability system refers to the exchange of healthcare information between two or more systems. Healthcare interoperability enables seamless data sharing across healthcare organizations with the patient’s consent. Electronic health records (EHRs) along with health information exchange (HIE) services must be optimized and adopted by every healthcare firm to implement interoperability functionalities. Interoperability achievement depends on five key components namely, privacy and security, standards, rules of engagement, adoption & optimization, and financial & clinical incentives.
Sizing and Forecast
The healthcare interoperability solutions market size has grown rapidly in recent years. It will grow from $4.32 billion in 2023 to $4.87 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to patient-centric care models, rise of value-based care, improvement in telehealth services, regulatory initiatives, enhanced data security measures.
The healthcare interoperability solutions market size is expected to see rapid growth in the next few years. It will grow to $8.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to interoperability in precision medicine, enhanced clinical decision support, increasing in application programming interfaces, . Major trends in the forecast period include push for nationwide interoperability, patient-centric interoperability, blockchain for healthcare data exchange, cloud-based interoperability solutions, adoption of fast healthcare interoperability resources.
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Segmentation & Regional Insights
The healthcare interoprability solutions market covered in this report is segmented –
1) By Type: Software Solutions, Services
2) By Software Solutions: Eletronic Health Record (EHR) Interoperability Solutions, Lab System Interoperability Solutions, Imaging System Interoperability Solutions, Healthcare Information Exchange Interoperability Solutions, Enterprise Interoperability Solutions, Other Healthcare Interoperability Solutions
3) By Level of Interoperability: Foundational Interoperability, Structural Interoperability, Semantic Interoperability
4) By End User: Healthcare Providers, Healthcare Payers, Pharmacies
North America was the largest region in the healthcare interoperability solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare interoprability solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The government initiatives to enhance patient care and safety are expected to propel the growth of the healthcare interoperability solutions market over the coming years. The shortcoming in the healthcare system is arising due to its increasing demand in public leading to Covid -19 pandemic. Government authorities across the globe such as the Canter for Medicare & Medicaid Services (CMS) have set the goal of increasing healthcare availability by implementing advanced technologies to better treat the patients. For instance, in April 2023, the Centers for Medicare & Medicaid Services (CMS), a US-based governmental entity of the US Department of Health and Human Services, announced a proposed regulation for inpatient and long-term hospitalization hospitals that develops on the Biden-Harris Administration’s key goals of advancing health equity and supporting neglected areas. The regulation would also implement hospital quality standards to promote safety, equality, and the reduction of unwarranted damage in the hospital context. The regulation would also implement hospital quality standards to promote safety, equality, and the lessening of undeserved damage in the hospital context.
Key Industry Players
Major companies operating in the healthcare interoprability solutions market report are Cerner Corporation, Epic Systems Corporation, Koninklijke Philips N. V., ViSolve Inc., Jitterbit Inc., Quality Systems Inc., Orion Health Group Limited, Infor Inc., Allscripts Healthcare Solutions Inc., InterSystems Corporation, OSP Technologies, INTERFACEWARE Inc., VIRTUSA CORP., SUMMIT HEALTHCARE SERVICES Inc., MPHRX Inc., WIPRO LTD., EMIDS TECHNOLOGIES Inc., NALASHAA HEALTHCARE, DEEVITA LLC, Healthcare Language Exchange, HealthVerity, Iguana Healthcare Solutions, Imprivata, Innovaccer Inc., Kno2, Lightbeam Health Solutions, MDI Achieve, Medicity, Redox Engine, Sansoro Health Inc., Surescripts
The healthcare interoprability solutions market report table of contents includes:
1. Executive Summary
2. Healthcare Interoprability Solutions Market Characteristics
3. Healthcare Interoprability Solutions Market Trends And Strategies
4. Healthcare Interoprability Solutions Market – Macro Economic Scenario
5. Global Healthcare Interoprability Solutions Market Size and Growth
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26. South America Healthcare Interoprability Solutions Market
27. Brazil Healthcare Interoprability Solutions Market
28. Middle East Healthcare Interoprability Solutions Market
29. Africa Healthcare Interoprability Solutions Market
30. Healthcare Interoprability Solutions Market Competitive Landscape And Company Profiles
Top Major Players:
- Cerner Corporation
- Epic Systems Corporation
- Koninklijke Philips N. V
- ViSolve Inc
- Jitterbit Inc
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