The major factors driving the growth of this market include the growing need to curb increasing healthcare costs and a growing focus on patient-centric care delivery. Moreover, government initiatives for enhancing patient care & safety and government funding for healthcare interoperability are also boosting market growth.
The Healthcare Interoperability Solutions Market is expected to reach USD 4.2 billion by
2024 from an estimated USD 2.3 billion in 2019, at a CAGR of 12.6%.
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Market Segmentation:-
Based on type, the
healthcare interoperability solutions market is segmented into software and
services. The services segment is estimated to account for the largest market
share in 2019. The large share of this segment can be attributed to the
shifting era towards cloud computing and reduced operational costs for better
and faster performance of business processes and applications.
Based on software type,
the Interoperability solutions Market is segmented into EHR interoperability
solutions, lab system interoperability solutions, imaging system
interoperability solutions, HIE interoperability solutions, enterprise interoperability
solutions, and other interoperability solutions. The HIE interoperability
solutions segment is expected to grow at the highest CAGR during the forecast
period.
Recent Developments:-
- In
2018, Epic launched the One Virtual System Worldwide, and added new
features to its Care Everywhere solution.
- In
2016 Cerner opened a Health center at the Cerner Center in Bangalore,
India, which helped the company enter the Indian market and also expand
its geographic reach.
- In
2017, Epic launched its Share Everywhere.
- In
2016, Cerner launched its Open Developer Experience (code).
Regional Analysis:-
North America is
expected to account for the largest share of the Interoperability solutions
Market in 2019, followed by Europe. The dominance of the North American region
can be attributed to the rising demand for quality healthcare delivery, a need
to curb increasing healthcare expenditure, and the implementation of favorable
initiatives & regulations to improve the overall efficiency of healthcare
organizations in the region.
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Top Key Players:-
The prominent players in
the 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).
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