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Market Analysis: Global Healthcare Interoperability Market
Global healthcare interoperability market is expected to register a healthy CAGR of 13.2% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the better population management with these services as well as the increased usage of EHR software by the healthcare providers.
Key Market Competitors:
Few of the major competitors currently working in the global healthcare interoperability market are InterSystems Corporation; Orion Health group of companies; Allscripts Healthcare LLC; Infor; Cerner Corporation; iNTERFACEWARE Inc.; NXGN Management, LLC; OSPLabs; Epic Systems Corporation; Koninklijke Philips N.V.; ViSolve.com; Jitterbit; Health Catalyst; Optum, Inc.; Smiths Medical, Inc.; Ciox Health; TeleTracking Technologies, Inc.; Experian Information Solutions, Inc.; Corepoint Health; Oracle; MuleSoft, LLC; Summit Healthcare Services, Inc.; IBM Corporation, among others.
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Market Definition: Global Healthcare Interoperability Market
Healthcare interoperability essentially is the co-working of healthcare information systems and technological services. This ability is provided by interacting between various healthcare databases, technological services to result in better delivery of healthcare services. This involves exchange of information, medicine practices and communication between physicians over software/applications.
Healthcare Interoperability Market Drivers
- Increasing need to deliver patient specialized healthcare services according to the unique need of every individual, this factor is expected to drive the growth of the market
- Increased levels of expenditure incurred & initiatives taken by the government to deliver improving the healthcare services, this is expected to foster growth in the market
- Growing requirement to reduce the costs of healthcare incurred, is expected to have a positive effect on the growth of the market
- Increased usage of healthcare IT services and unique patient information in the North America and European region, is expected to drive the growth of the market
Healthcare Interoperability Market Restraints
- Concerns regarding unavailability of completely compatible interoperability offerings, this factor is expected to restrain the growth of the market
- Absence of any set standardizations & regulations regarding the usage of these technologies, this factor is expected to restrain the growth of the market
- Lack of technically skilled professionals for the integration and maintenance of these systems due to a complicated set-up coupled with high costs associated, is expected to hinder the growth of the market
Segmentation: Global Healthcare Interoperability Market
Healthcare Interoperability Market : By Type
- Software Solutions
Healthcare Interoperability Market : By Software Type
Healthcare Interoperability Market : By Model Type
Healthcare Interoperability Market : By Interoperability Level
- Foundational Interoperability
- Structural Interoperability
- Semantic Interoperability
Healthcare Interoperability Market : By Deployment
Healthcare Interoperability Market : By Application
Healthcare Interoperability Market : By End-Users
- Healthcare Providers
- Healthcare Payers
Healthcare Interoperability Market : By Geography
- North America
- South America
- Middle East and Africa
Key Developments in the Healthcare Interoperability Market:
- In July 2018, Health Catalyst announced that they had completed the acquisition of Medicity, expanding their consumer base along with the locations serviced. They will be able to provide their offerings to a greater number of healthcare providers, facilities to physicians and patients. Due to the combined capabilities of both the companies, they will be able to offer better healthcare services resulting in better quality at a lower cost.
- In January 2018, Epic Systems Corporation announced the launch of “One Virtual System Worldwide”, a communicative interface for physicians, clinics, organizations where the exchange of data & interaction between them is available. This will enable not just viewing the data available at their disposal rather involve exchange of valuable information that will help in providing specialized healthcare services according to each individual requirement.
Reasons to Purchase this Report
- Current and future of global healthcare interoperability market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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