Global Healthcare Information Exchange (HIE) Solutions market is Likely to Grow at a CAGR Value of 12.10% by 2028

02-Aug-2022 | Facts and Factors

According to Facts and Factors, the global Healthcare Information Exchange (HIE) Solutions market was worth USD 318.50 million in 2021 and is estimated to grow to USD 632.03 million by 2028, with a compound annual growth rate (CAGR) of approximately 12.10% over the forecast period. The report analyzes the Healthcare Information Exchange (HIE) Solutions market drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the Healthcare Information Exchange (HIE) Solutions market.

The electronic transformation of healthcare-related data between medical institutions, health information organizations, and businesses that demand and regulate the exchange of this data is known as health information exchange. The timeliness, quality, safety, and cost of patient care can all be improved by the appropriate access and secure sharing of a patient's critical medical information electronically between healthcare providers such as doctors, nurses, pharmacists, and patients. The act of transferring data between two or more healthcare organizations or providers and the body in charge of facilitating the communication is referred to as "health information exchange. The need to reduce healthcare costs, the emphasis on patient-centered care delivery, the growing adoption of EHRs and other HCIT solutions, government initiatives to improve patient care and safety, and government funding for healthcare interoperability are some of the factors driving this market's growth.

Request Sample Request Customization Buy Now

Browse the full “ Healthcare Information Exchange (HIE) Solutions Market Size, Share, Growth Analysis Report By Type (Directed Exchange, Consumer-Mediated Exchange, and Query-Based Exchange), By Implementation Model (Centralized, Decentralized, and Hybrid), and By Solution Type (Platform-Centric, Portal-Centric, and Messaging-Centric), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/healthcare-information-exchange-hie-solutions-market

Another force behind the growth of the health information exchange business is the growing demand to reduce the costs related to maintaining paper-based patient health records. Additionally, research cited by NCBI found that obtaining information from electronic health records is much quicker and simpler than doing so with traditional physical copies of records. Through the course of the projection period, this is anticipated to increase demand for HIE systems. Hospitals must invest significantly in infrastructure development, such as increasing their data storage and processing capacity, to integrate EHR solutions properly. The already limited financial resources of healthcare providers make it difficult to invest in developing such infrastructure.

Segmental Overview

The Healthcare Information Exchange (HIE) Solutions market is segregated based on type, Implementation model, and solution type.

The type of market is segmented into Directed Exchange, Consumer-Mediated Exchange, and Query-Based Exchange. The Directed exchange has the most substantial market share in this segment owing to the trend of passing the documents to the physicians and point-to-point transaction support.

Based on Implementation Model, the market is divided into Centralized, Decentralized, and Hybrid. The implementation model segment's hybrid model segment, which currently has the greatest market share, is anticipated to expand at the highest CAGR throughout the projection period. The hybrid model combines centralized and decentralized models and has advantages like a huge data storage capacity and cheaper cost, which makes it easier for the utilization rate to expand.

Based on Solution Type, the market is classified into Platform-Centric, Portal-Centric, and Messaging-Centric. According to solution type, the market for health information exchange was dominated by the portal-centric category. A significant proportion can be ascribed to the increase in online portal improvements that make it easier and more convenient to get medical information.

Regional Overview

Due to the increasing numbers of accountable care organizations in the US and Canada, which led to the largest share of healthcare facilities, North America accounts for the highest percentage of the global market for health information exchange. A few more factors for North America's dominant market share include favorable settlement policies and the growing use of the Health Information Exchange. On the other hand, Asia-Pacific is anticipated to experience the fastest growth between 2020 and 2025. The expansion of the health information exchange market in this area is being fueled by factors including rising population levels, increased awareness among healthcare professionals of healthcare information exchange systems, and various government initiatives.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 318.50 Million

Projected Market Size in 2028

USD 632.03 Million

CAGR Growth Rate

12.10% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Health Catalyst (U.S.), Intersystems Corporation (U.S.), MEDITECH (U.S.), and Others

Key Segment

By Type, Implementation Model, Solution Type, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

Competitive Landscape

The report contains qualitative and quantitative research on the global Healthcare Information Exchange (HIE) Solutions market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key players functioning in the global Healthcare Information Exchange (HIE) Solutions market include Epic Systems Corporation (US), Cerner Corporation (US), Health Catalyst (US), Intersystems Corporation (US), MEDITECH (US).

Recent developments:

  • In order to provide advanced bidirectional interoperability, E Clinical Works announced a collaboration with Humana Inc., a top health and wellness company, Guide Well, the parent company of a family of innovative businesses focused on transforming healthcare, and Trusted Health Plan, a provider of Medicaid and Alliance Benefits in the year 2019.
  • Practice Fusion, a provider of electronic medical records based in San Francisco, was purchased by Allscripts in 2018. The goal of the acquisition was to increase Allscripts' business with independent doctors.

The global Healthcare Information Exchange (HIE) Solutions market is segmented as follows:

By Type

  • Directed Exchange
  • Consumer-Mediated Exchange
  • Query-Based Exchange

By Implementation Model

  • Centralized
  • Decentralized
  • Hybrid

By Solution Type

  • Platform-Centric
  • Portal-Centric
  • Messaging-Centric

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Visual Effects (VFX) Market Report 2024 – 2032

[217+ Pages Report] According to Facts Factors, the global visual effects (VFX) market size in terms of revenue was valued at around USD 10.12 billion in 2023 and is expected to reach a value of USD 18.72 billion by 2032, growing at a CAGR of roughly 7.07% from 2024 to 2032. The global visual effec

Published Date : 17-Jun-2024 | | Category : Technology & Media | Pages : 217 | Format : Read more

Inquiry for Buying Request Sample
report img

E-Learning Market Report 2024 – 2032

[218+ Pages Report] According to Facts Factors, the global E-Learning market size in terms of revenue was valued at around USD 251.46 billion in 2023 and is expected to reach a value of USD 1,080.32 billion by 2032, growing at a CAGR of roughly 17.58% from 2024 to 2032. The global E-Learning market

Published Date : 17-Jun-2024 | | Category : IT | Pages : 218 | Format : Read more

Inquiry for Buying Request Sample
report img

Plant-based Meat Market Report 2024 – 2032

[219+ Pages Report] According to Facts Factors, the global plant-based meat market size in terms of revenue was valued at around USD 5.35 billion in 2023 and is expected to reach a value of USD 33.12 billion by 2032, growing at a CAGR of roughly 22.4% from 2024 to 2032. The global plant-based meat

Published Date : 17-Jun-2024 | | Category : Food & Beverages | Pages : 219 | Format : Read more

Inquiry for Buying Request Sample
report img

Healthcare Augmented and Virtual Reality Market Report 2024 – 2032

[212+ Pages Report] According to Facts Factors, the global healthcare augmented and virtual reality market size in terms of revenue was valued at around USD 3.21 billion in 2023 and is expected to reach a value of USD 15.07 billion by 2032, growing at a CAGR of roughly 18.7% from 2024 to 2032. The

Published Date : 12-Jun-2024 | | Category : Healthcare | Pages : 212 | Format : Read more

Inquiry for Buying Request Sample
report img

North America Frozen Bakery Products Market Report 2024 – 2032

[213+ Pages Report] According to Facts Factors, the North America frozen bakery products market size in terms of revenue was valued at around USD 11.15 billion in 2023 and is expected to reach a value of USD 17.74 billion by 2032, growing at a CAGR of roughly 5.3% from 2024 to 2032. The North Ameri

Published Date : 12-Jun-2024 | | Category : Food & Beverages | Pages : 213 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration