The Growth in Healthcare Interoperability Solutions 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 However, the lack of true interoperability solutions, lack of standards, and the use of outdated legacy systems are some factors restraining the growth of the healthcare interoperability solution market to a certain extent during the forecast period.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.
The global healthcare interoperability solutions 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
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Scope
of the Report:
The study categorizes the healthcare
interoperability solutions market based on product, type, technology,
application, animal type, end user at regional and global level.
Global
Healthcare interoperability solutions Market, by Type
- Introduction
- Software Solutions
- Services
Healthcare
interoperability solutions Market, By Software Solutions
- Introduction
- EHR interoperability solutions
- Lab system interoperability
solutions
- Imaging system interoperability
solutions
- Healthcare information exchange
interoperability solutions
- Enterprise interoperability
solutions
- Other healthcare interoperability
solutions.
Healthcare
interoperability solutions Market, By End User
- Introduction
- Healthcare Providers
- Healthcare Payers
- Pharmacies
Healthcare
interoperability solutions Market, By Healthcare Providers
- Introduction
- Hospitals & Clinics
- Long-term Care centers
- Diagnostics & Imaging centers
- Other Healthcare Providers
Market Segmentation: -
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.
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.
Regional
Analysis:
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.
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Top Key players:
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).
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.
Conclusion:
In conclusion, the Healthcare Interoperability
Solutions Market is poised for significant growth as healthcare organizations
strive to improve patient outcomes through seamless data exchange and better
care coordination. With advances in technology and increasing demand for
interoperable systems, healthcare providers can expect to see increased
efficiency, accuracy, and quality of care. The benefits of healthcare
interoperability are far-reaching and can impact not only individual patient
outcomes, but also the overall performance and sustainability of the healthcare
system. The future of healthcare is centered on seamless integration and
interoperability, and the Healthcare Interoperability Solutions Market is at
the forefront of this revolution.
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