Companies operating in the global Healthcare Information Exchange Market are focusing on merger and acquisitions and new product launches to gain competitive advantage. Growth strategies adopted by these companies are studied in detail in the report. The report also includes several valuable information on the Healthcare Information Exchange Market, derived from various industrial sources.
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The United States healthcare information exchange market was valued at USD 457.38 million in 2018 and is estimated to be valued at USD 775.56 million in 2024, witnessing a CAGR of 9.20% during the forecast period. Factors driving the market growth include the increasing demand for electronic health records, government support via various programs and incentives, and reduction in healthcare cost and improved efficacy.
Health information exchange allows doctors, pharmacists, nurses, healthcare providers, and patients to access and securely share the patient’s medical information, electronically, thus improving the quality, safety, speed, and cost of patient care. Healthcare information exchange (HIE) is an important part of health information technology (HIT). According to the National Coordinator for Health Information Technology, 41% of all hospitals were using electronically-exchanged health information in 2008. However, by 2015, more than eight in 10 acute care hospitals electronically exchanged laboratory results, MRI reports, and clinical summaries, or medication lists. Owing to the increase in government initiatives and high engagement of a private setup in HIE, the market is expected to witness exponential growth.
Scope of the Report
The United States healthcare information exchange market has been segmented on the basis of the implementation model, setup type, application, exchange type, and component. Market segments have been further sub-divided into respective sub-segments. For instance, the implementation model segment has been divided into centralized/consolidated models, decentralized/federated models, and hybrid models.
Healthcare Information Exchange Market by Companies:
– Cerner Corporation, Allscripts Healthcare Solutions, Mckesson Corporation, Eclinical Works, Covisint Corporation, Nextgen Healthcare Information Systems LLC, Infor Inc., Optum Inc., Medicity Inc., Epic Corporation Inc.
Key Market Trends
The Decentralized/Federated Model is Expected to Hold the Largest Market Share
The decentralized/federated model segment holds the largest market share and is expected to retain its share during the forecast period. In a federated HIE, there is no master database. In this model, each healthcare provider is responsible for maintaining the records of their individual patients. In this model, the main function of HIE is to facilitate the providers in exchanging patient records among themselves, when the need arises. The salient distinction of a federated model is that there is no central database from which a previously compiled, the comprehensive medical record is stored and can be downloaded. The advantages, such as low conflicts related to data ownership and compartmentalization of data, which makes it less vulnerable to data thefts, along with lower implementation costs when compared to other models, are leading to its high adoption rates.
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Detailed TOC of Global Healthcare Information Exchange Market – Growth, Trends, Forecast and Challenges (2019 – 2023)
- Research Methodology
- Executive Summary
- Market Overview and Trends of Healthcare Information Exchange Market
- Market Dynamics of Healthcare Information Exchange Market
- Global Healthcare Information Exchange Market Segmentation, By Capacity
- Global Healthcare Information Exchange Market Segmentation, By Material Type
- Global Healthcare Information Exchange Market Segmentation, Segmented by Region
- Competitive Landscape and Introduction of Healthcare Information Exchange Market
- Key Vendor Analysis (Overview, Products & Services, Strategies)
And Many More…….
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