Healthcare Interoperability Solution Market by Type (Software Solutions and Services), Interoperability Level (Foundational Interoperability, Structural Interoperability, and Semantic Interoperability), Mode of Deployment (Cloud Based and On Premise), Application (Diagnosis, Treatment, and Others), End User (Healthcare Providers, Healthcare Payers, and Pharmacies): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 5.46 billion in 2022 and is expected to hit US$ 14.74 billion by 2030, recording a CAGR of 13.2% during the forecast period
The cloud-based is the largest mode of deployment segment
Cloud-based HER allows collecting patient data, maintaining precise health information, organizing, and collecting data into actionable information and sharable formats, and thereby allowing effective communication with healthcare providers, third-party payers, and patients. The cloud-based popular amongst the physicians and healthcare providers operating on a smaller scale as these systems can be installed without any requirement of in-house servers and offer a wide range of customizations & improvements as per their needs. Cloud-based solutions are cost-effective as cloud computing reduces the cost of managing and maintaining your IT systems. Cloud-based EHR offers flexibility and allows the user to access the data from any place.
Within the report, the market is segmented into type, interoperability level, mode of deployment, application, end-users, and geography. Based on type, the global healthcare interoperability solution market is bifurcated into software solutions and services. Based on interoperability level, the market is divided into foundational interoperability, structural interoperability, and semantic interoperability. Based on mode of deployment, the market is bifurcated into cloud based and on premise. Based on application, the market is segmented into diagnosis, treatment, and others. Based on end-users, the global market is segmented into healthcare providers, healthcare payers, and pharmacies. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing public–private investments, grants, and funds
Governments worldwide are focusing on laying down the standards, regulations, and infrastructure for maintaining health records, which is increasing the demand for patient portals. For instance, My Health Record, a national digital health record platform in Australia, has launched "My Health Record" to ensure that most citizens have a health record by 2022. This would help all healthcare providers in the country in retrieving healthcare information available on the platform. In May 2020, the US federal government proposed the Federal Health IT Strategic Plan 2020–2025 that mandates the meaningful usage of EHR by healthcare providers.
Rapid adoption of Electronic Health Records and other healthcare IT solutions
EHRs are becoming increasingly popular as the digitization of the healthcare industry is growing at a significant rate. After the Health Information Technology for Economic and Clinical Health (HITECH) Act became law in 2009, the federal government committed US$ 300 million to aid health care facilities in adopting a nationwide health information exchange system. Apart from this, the increasing adoption of healthcare technologies by hospitals in emerging countries is further driving the market. For instance, in March 2019, Huawei Technologies signed a partnership agreement with Guangdong Provincial People's Hospital for building a wireless healthcare hospital in China. This would be achieved by integrating 5G, IoT, big data, artificial intelligence (AI), and other technologies to provide accessible healthcare services and better patient-doctor relationship.
The healthcare interoperability solution market has undergone several significant developments, and a few of these have been mentioned below:
- In July 2021, Infor, the industry cloud company, announced its Fast Healthcare Interoperability Resource (FHIR) Server, the company's vision for helping healthcare organizations better leverage and analyze data. Built on the latest web technologies, Infor FHIR Server is one of the most advanced, modern, and scalable FHIR servers commercially available
- In April 2022, Embratel announced the launch of the Embratel Saúde Interoperabilidade solution, suitable for public and private institutions that seek to solve the challenges of clinical connectivity, information integration and sharing of medical records for an integral view of healthcare
The healthcare interoperability solution market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Allscripts Healthcare Solutions, Inc; Cerner Corporation; Intersystems Corporation; Orion Health Group Limited; Koninklijke Philips N.V.; Visolve Inc; Infor, Inc; Nextgen Healthcare, Inc; EPIC Systems Corporation; and Interfaceware are among the prominent players operating in the market.
The target audience for the report:
- Raw Material Providers
- Associations, Organizations, Forums, And Alliances
- Government Bodies, Such as Regulating Authorities and Policymakers
- Healthcare Providers
- Healthcare Payers
- Venture Capitalists, Private Equity Firms, and Start-Up Companies
- Research Institutes, Organizations, and Consulting Companies
Scope of the report:
In this report, the market has been segmented based on:
- Software Solutions
- Interoperability Level:
- Foundational Interoperability
- Structural Interoperability
- Semantic Interoperability
- Mode of Deployment:
- Cloud Based
- On Premise
- Healthcare Providers
- Healthcare Payers
- North America
- Asia Pacific
- South & Central America
- Middle East & Africa
- Companies Profiled
The List of Companies
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- Intersystems Corporation
- Orion Health Group Limited
- Koninklijke Philips N.V.
- Visolve Inc.
- Infor, Inc.
- Nextgen Healthcare, Inc.
- EPIC Systems Corporation