According to the new market research report "Healthcare Interoperability Solutions Market by Type (EHR Interoperability, Health Information Exchange, Enterprise), Interoperability Levels (Foundational, Structural, Semantic), End User (Hospitals, Pharmacies, Clinics, Payers) - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 5.7 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 13.9% during the forecast period.
Browse in-depth TOC on "Healthcare
Interoperability Solutions Market"
151 – Tables
41 – Figures
234 – Pages
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The Growth in this market is driven by the growing
need to curtail healthcare costs, government initiatives to enhance patient
care & safety, government funding for healthcare interoperability, and the
rapid adoption of EHR & other healthcare IT solutions. However, the lack of
true interoperability solutions, lack of standards, and the use of outdated
legacy systems are some factors restraining the growth of the healthcare
interoperability solution market to a certain extent during the forecast
period. The base year considered for the study is 2020, while, the forecast
period is 2021 to 2026.
By type, the services segment accounted for the largest
share of the healthcare interoperability solutions market in 2020.
On the basis of type, the services segment accounted
for the largest share. The large share of this segment can be attributed to the
recurring cost of services such as software upgrades/updates and maintenance.
The healthcare providers segment is expected to
witness the highest growth rate in the healthcare interoperability solutions
market, by end user, during the forecast period
Based on end user, the healthcare providers segment
is expected to register the highest CAGR during the forecast period. Factors
responsible for the growth of this segment are increasing patient volume, the
need to curtail the rising healthcare costs, and government mandates.
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North
America dominated the healthcare interoperability
solutions market in 2020
North
America accounted for the largest share of the
healthcare interoperability solution market in 2020, followed by Europe and Asia Pacific.
The rising demand for quality healthcare delivery, the need to curb the
increasing healthcare expenditure, and the implementation of favorable
initiatives & regulations to improve the overall efficiency of healthcare
organizations in the region are the key factors responsible for the large share
of North America in
the market.
Some of the prominent players in this healthcare
interoperability solutions market are Cerner Corporation (US), Epic Systems
Corporation (US), Infor, Inc. (US), Koninklijke Philips NV (Netherlands),
InterSystems Corporation (US) are the major players in this market. These
companies are majorly focusing on the strategies such as agreements,
collaborations, partnerships, and service launches in order to remain
competitive and further increase their share in the market. Some of the
prominent players in the market namely, Orion Health Group Limited (New Zealand),
IBM Watson Health (US), Lyniate (US), Change Healthcare (US), NextGen
Healthcare, Inc. (US), and Medical Information Technology, Inc. (US),
iNTERFACEWARE (Canada),
OSP Labs (US), ViSolve, Inc. (US), Jitterbit (US), Virtusa Corp. (US), and
Summit Healthcare Services, Inc. (US).
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