Healthcare Interoperability Solutions Market growth 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 However, the lack of true interoperability solutions, lack of standards, and the use of outdated legacy systems are some factors restraining the growth of the healthcare interoperability solutions market to a certain extent during the forecast period.
Currently, Healthcare Interoperability Solutions Market is
growing at a Compound Annual Growth Rate (CAGR) of 13.9 % to reach USD 5.7
billion by 2026. Healthcare costs have almost doubled over the last decade,
especially in the US. The Organisation for Economic Co-operation and
Development (OECD) anticipated increasing public expenditures on healthcare and
long-term care in OECD countries from 6% of the GDP in 2018 to almost 9% by
2030 and 14% by 2060. Factors such as increasing health insurance premiums, the
rising demand for quality healthcare services, the growing geriatric
population, and the growing incidence of chronic disorders across the globe are
responsible for the significant rise in healthcare costs. Another major factor
contributing to this trend is the high dependency on traditional and
technologically outdated clinical devices that increase the rate of readmission
of patients and the chances of medical errors as well as increase the
administration costs.
Request for assumptions & how
numbers were triangulated.
https://www.marketsandmarkets.com/requestsampleNew.asp?id=17705847
Growth Drivers
- Growing need to curtail healthcare costs
- Government initiatives to enhance patient care
and safety
- Government funding for healthcare
interoperability
- Rapid adoption of electronic health records
and other healthcare IT solutions
Growth Opportunities
- Emerging markets for healthcare
interoperability solutions in developing countries
Challenges
- Increasing complexity with lack of consistent
data
- Shortage of skilled healthcare IT
professionals
- Data privacy concerns
Trends
- Fast healthcare interoperability resources
- Smart on FHIR
- Growing need for semantic interoperability
- Increasing adoption of application programming
interface
The prominent players operating in the
Healthcare Interoperability Solutions Market are
Cerner Corporation (US), Epic Systems
Corporation (US), Infor, Inc. (US), Koninklijke Philips NV (Netherlands), and
InterSystems Corporation (US)
Cerner Corporation dominated the healthcare interoperability
solutions market in 2020. The company’s leading position in this market can be
attributed to its comprehensive suite of products and solutions and strong
distribution network, which has enabled the adoption of its solutions across
the globe. The company offers various industry-specific applications and suites
to facilitate information exchange across several healthcare providers. Around
27,500 facilities license Cerner’s solutions in more than 35 countries. Cerner
has a strong product portfolio with a double-digit organic growth rate over the
last three decades. Its high focus on R&D enables the company to rapidly
innovate and develop products that suit the current market demands.
InterSystems Corporation is the second-largest player in the
healthcare interoperability solutions market. InterSystems has earned its
reputation by partnering with well-known companies such as Epic Systems
Corporation and GE Healthcare and offering services to well-known hospitals in
the US. The company offers advanced HCIT interoperability technologies in its
solutions, such as the InterSystems HealthShare and InterSystems Ensemble. The
company actively launches products in the healthcare interoperability solutions
market to expand its product portfolio. Recently, it launched HealthShare
2021.2 and the InterSystems IRIS FHIR Accelerator Service. The firm also
intends to expand its business in the international market, mainly through
agreements and contracts. The company has its presence in more than 100
countries, including the US. The major end users of the company include
healthcare providers, government organizations, and other industries.
Download
an Illustrative Overview:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=17705847
North America is expected to exhibit
the highest growth during the forecast period
- The rising demand for quality healthcare
delivery
- The need to curb the increasing healthcare
expenditure
- The implementation of favorable initiatives
Recent Developments
- In May 2021, Epic Systems (US) partnered with
Anthem, Inc. (US) to ease administrative burdens and address potential
gaps in care by harnessing Epic’s Payer Platform, which will be embedded
directly into Anthem’s Health OS.
- In May 2021, InterSystems Corporation (US)
partnered with Oncodesign (France). Under this partnership, Oncodesign
will use the InterSystems’ IRIS for Health solution to organize and
leverage healthcare data to accelerate the search for new treatments in
oncology using AI.
- In January 2021, Koninklijke Philips
(Netherlands) signed an agreement to acquire Capsule Technologies, Inc.
(US) to transform the delivery of care along the health continuum with
integrated solutions.
- In February 2019, Veradigm (US) entered into a
partnership with NextGen Healthcare, Inc. (US) to improve connectivity and
data exchange with payers & labs.
No comments:
Post a Comment