DUBLIN, March 28, 2019 /PRNewswire/ — The “Healthcare Interoperability Solutions Market by Type (EHR Interoperability, Health Information Exchange, Enterprise), Interoperability Levels (Foundational, Structural, Semantics), End User and Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The healthcare interoperability solutions market is projected to reach USD 4.2 billion by 2024 from an estimated USD 2.3 billion in 2019, at a CAGR of 12.6%.
The growing focus on patient-centric care delivery, rising need to curb increasing healthcare costs, government initiatives for enhancing patient care and safety, and government funding for healthcare interoperability are the primary growth factors for this market. The growing improvements in healthcare infrastructure are expected to offer significant growth opportunities for players in this market.
However, increasing complexity with lack of consistent data, lack of trained healthcare IT professionals, and data privacy concerns are some of the major market challenges.
The prominent players in the global healthcare interoperability solutions market are Cerner Corporation (US), Infor, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), Koninklijke Philips NV (Netherlands), InterSystems Corporation (US), Orion Health Group Limited (New Zealand), iNTERFACEWARE (Canada), Quality Systems, Inc. (US), OSP Labs (US), Epic Systems Corporation (US), ViSolve, Inc. (US), and Jitterbit (US).
The need to manage regulatory compliance and favorable government initiatives are expected to account the largest market share of EHR interoperability solutions
On the basis of software solutions, by type, the healthcare interoperability solutions market is further sub-segmented into EHR interoperability solutions, lab system interoperability solutions, imaging system interoperability solutions, HIE interoperability solutions, enterprise interoperability solutions, and other interoperability solutions.
The EHR interoperability solutions segment is expected to hold the largest share of the healthcare interoperability software solutions market. The increasing number of initiatives to improve the quality of care delivered to patients and the growing need to improve the profitability of healthcare operations and curtail healthcare costs are factors contributing for the larger share of this segment.
The Asia Pacific region is likely to be the fastest growing market for players operating in the healthcare interoperability solutions market
Even though North America is expected to account for the largest share of the global healthcare interoperability solutions market in 2019, the Asia Pacific region is expected to witness the highest CAGR during the forecast period. Rising medical tourism, growing demand for quality healthcare, and the growing need for the implementation and integration of medical devices and HCIT solutions to provide cost-effective and quality care to patients are factors driving the growth of this regional segment.
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Research Approach
2.2 Market Size Estimation
2.3 Data Triangulation Approach
2.4 Market Share Estimation
2.5 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Healthcare Interoperability Solutions Market Overview
4.2 Healthcare Interoperability Solutions Market: Geographic Growth Opportunities
4.3 Regional Mix: Healthcare Interoperability Solutions Market (2019-2024)
4.4 Healthcare Interoperability Solutions Market: Developed vs Developing Markets, 2019 vs 2024
5 Market Overview
5.2 Market Dynamics
22.214.171.124 Growing Focus on Patient-Centric Care Delivery
126.96.36.199 Growing Need to Curtail Healthcare Costs
188.8.131.52 Government Initiatives for Enhancing Patient Care and Safety
184.108.40.206 Government Funding for Healthcare Interoperability
220.127.116.11 Lack of True Interoperability Solutions
18.104.22.168 Lack of Standards
22.214.171.124 Use of Outdated Legacy Systems
126.96.36.199 Improving Healthcare Infrastructure in Emerging Markets
188.8.131.52 Increasing Complexity With Lack of Consistent Data
184.108.40.206 Lack of Trained Healthcare IT Professionals
220.127.116.11 Data Privacy Concerns
6 Industry Insights
6.2 Industry Trends
6.2.1 Shift Towards Cloud-Based Solutions
6.2.2 Increasing Adoption of Application Programming Interface
6.3 Regulatory Scenario
7 Healthcare Interoperability Solutions Market, By Type
7.2 Software Solutions
7.2.1 EHR Interoperability Solutions
18.104.22.168 Large Installation Base of EHR Systems and the Need to Make Them Interoperable – Factors Responsible for the Large Market Share
7.2.2 Lab System Interoperability Solutions
22.214.171.124 Increasing Cost of Operations and the Decreasing Reimbursements for Laboratory Services to Boost the Adoption of These Solutions
7.2.3 Imaging System Interoperability Solutions
126.96.36.199 Rising Need for Data Interoperability and Increasing Usage of Smart Devices to Drive Market Growth
7.2.4 Healthcare Information Exchange Interoperability Solutions
188.8.131.52 Large Investments By the Federal Government to Drive the Adoption of These Solutions
7.2.5 Enterprise Interoperability Solutions
184.108.40.206 Advancing Software Technology and the Rising Demand for Expanded Care Delivery are Driving the Growth of This Segment
7.2.6 Other Interoperability Solutions
8 Healthcare Interoperability Solutions Market, By Interoperability Level
8.2 Foundational Interoperability
8.2.1 Need for Safe and Accurate Data Exchange Across Disparate Systems to Drive Market Growth
8.3 Structural Interoperability
8.3.1 Structural Interoperability Ensures Interpretation of Data Exchanges Between Systems at the Data Field Level
8.4 Semantic Interoperability
8.4.1 Semantic Interoperability Segment to Register the Highest Growth During the Forecast Period
9 Healthcare Interoperability Solutions Market, By End User
9.2 Healthcare Providers
9.2.1 Hospitals and Clinics
220.127.116.11 Increasing Patient Volume and the Rising Need to Reduce Errors in Data Management Along With Need for Data Privacy is Expected to Drive This Segment
9.2.2 Long-Term Care Centers
18.104.22.168 Increasing Number of Long-Term Care Centers and the Need to Maintain Compliance With Medical Reforms is Expected to Drive Market Growth
9.2.3 Diagnostic and Imaging Centers
22.214.171.124 Increasing Volume of Clinical Data and Need to Streamline the Imaging Workflow is Driving Market Growth
9.2.4 Other Providers
9.3 Healthcare Payers
9.3.1 Payer Interoperability Helps to Decrease Emergency Department & Hospital Stays and Repeat Tests & Procedures
9.4.1 Pharmacies Use Hie Solutions to Provide Individualized Care and Support to Patients
10 Healthcare Interoperability Solutions Market, By Region
10.2 North America
10.2.1.1 Growing Need to Curtail Soaring Healthcare Costs to Drive Market Growth in the US
10.2.2.1 Healthcare Digitization to Support the Adoption of Healthcare IT Solutions in Canada
10.3.1.1 Government Initiatives to Modernize the Healthcare System and Increasing Healthcare Expenditure Driving the Market Growth in Germany
10.3.2.1 Government Initiatives to Drive the Demand for Healthcare Interoperability Solutions in the UK
10.3.3.1 Government Initiatives to Promote the Adoption of Healthcare IT Solutions to Drive Market Growth in France
10.3.4.1 Robust Healthcare Infrastructure and Ehealth Initiatives are Expected to Drive the Market in the Netherlands
10.3.5 Rest of Europe
10.4 Asia Pacific
10.4.1 APAC Region is Expected to Grow at the Highest CAGR During the Forecast Period
10.5 Latin America
10.5.1 Brazil, Argentina, and Mexico are Some of the Emerging Healthcare Markets in Latin America
10.6 Middle East & Africa
10.6.1 UAE is Expected to Offer Growth Opportunities for the Healthcare IT Market in the Region
11 Competitive Landscape
11.2 Market Share Analysis
11.2.1 Healthcare Interoperability Solutions Market
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Competitive Situation and Trends
11.4.1 Product Launches
11.4.4 Agreements, Partnerships and Collaborations
12 Company Profiles
12.1 Intersystems Corporation
12.2 Orion Health Group Limited
12.3 Allscripts Healthcare Solutions Inc.
12.4 Infor Inc.
12.5 Cerner Corporation
12.6 Interfaceware Inc.
12.7 Nextgen Healthcare Inc.
12.8 OSP Labs
12.9 EPIC Systems Corporation
12.1 Koninklijke Philips N.V.
12.11 Visolve Inc.
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