Health Information Exchange (HIE) Market Forecasts to 2028 – Global Analysis By Type (Directed, Query-Based), Product (Electronic, Non-Electronic), Application (Internal Interfacing, Secure), End User (Pharmacies) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $1.24 BN |
|
Projected Year Value (2028) |
US $3.24 BN |
|
CAGR (2021 - 2028) |
14.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Health Information Exchange (HIE) Market is accounted for $1.24 billion in 2021 and is expected to reach $3.24 billion by 2028 growing at a CAGR of 14.7% during the forecast period. Healthcare information exchange (HIE) refers to the deployment of healthcare information electronically. HIE is crucial for connecting communities and ensuring the availability of patient health records. It is an integral and significant element of health information technology (HIT) infrastructure.
Market Dynamics:
Driver:
Government support for the adoption of EMR solutions
EHRs form a central component of healthcare IT as they enable the easy exchange of healthcare information and communication among all stakeholders in hospitals. The adoption of EMR solutions also helps deliver better health outcomes in terms of healthcare access, quality, affordability, and lowering the disease burden. Owing to the benefits of using EMR, governments across several countries are undertaking initiatives to promote the adoption of EMR solutions.
Restraint:
Need for significant investments in infrastructure development
Hospitals need to make significant investments in infrastructure development, such as increasing their data storage and processing capabilities, to successfully implement EHR solutions. Investments in the development of such infrastructure become difficult for the already strained financial resources of healthcare providers. In addition to investments in infrastructure, additional charges are incurred for the procurement of EMR solutions, maintenance, training, and conversion of paper records to electronic records.
Opportunity:
Data privacy concerns
Health information exchange solutions have several useful applications in healthcare. However, the adoption of these solutions is restricted to an extent owing to data security and privacy concerns. Patient health data is protected under federal laws in many countries, and any breaches or failure to maintain its integrity can result in legal and financial penalties. Patient data contains personal, private, or confidential information and requires strict safeguarding to prevent its misuse. Since the interoperable solutions used for patient care require access to multiple health data sets, these solutions need to adhere to all the data security protocols implemented by governments and regulatory authorities.
Threat:
High cost of deployment
Indirect costs are also incurred, such as revenue losses due to the temporary loss of patient data. These are the major barriers to the adoption of EMR solutions, mainly in small and medium-sized hospitals, which could potentially restrict the growth of the health information exchange market.
The hybrid models segment is expected to be the largest during the forecast period
The hybrid model segment is expected to have the largest share during the forecast period due to the increasing patient care changes and improving the quality of operational efficiency. The hybrid model system proved flexible, which is essential to handle extensive data. The hybrid model increases data analysis capability and provides ample data storage, which helps the market grow tremendously.
The web portal development segment is expected to have the highest CAGR during the forecast period
The radar sensors segment is growing at the highest CAGR in the market during the forecast period due to factors such as the increase in the accessibility of the information through the patient web portal is more, and it enables the information of the treatment and provides insight.
Region with largest share:
North America is projected to hold the largest market share due to the increasing adoption of EHR, favorable reimbursement policies, and substantial stakeholders of the worldwide healthcare information exchange market.
Region with highest CAGR:
The Asia Pacific is projected to have the highest CAGR during the forecast period. The high growth in this regional market can be attributed to the increasing prevalence of chronic diseases, government initiatives to support healthcare interoperability, improving healthcare infrastructure, and the growing demand from key markets such as Japan, China, and India.
Key players in the market:
Some of the key players profiled in the Health Information Exchange (HIE) Market include Allscripts Healthcare, LLC, Cerner Corporation, eClinicalWorks, Epic Systems Corporation, General Electric Company, Great Lakes Health Connect, Health Catalyst, CORHIO, Health Level Seven (HL7) International, Integrated Health Information Systems (IHiS), Intersystems Corporation, McKesson Corporation, Meditech, Nextgen Healthcare Information System, LLC, Optum, Inc., Oracle Corporation, Orion Health Group Limited, San Diego Health Connect, The Health Collaborative, and ZorgNetOost.
Key developments:
In October 2021: MEDITECH entered into an agreement with Steward Health Care, wherein the latter implemented MEDITECH’s EHR system in 18 sites located across Arizona, Texas, Utah, Arkansas, and Louisiana. This decision was a part of Steward’s “One Platform” strategy to bring all 35 hospitals under a single HER.
In October 2020: Health Catalyst entered into a multi-year strategic partnership with Middle East Healthcare Company. Under this partnership; six Saudi-German Hospitals in the Kingdom of Saudi Arabia (KSA) will have access to Health Catalyst’s DOS technology.
In July 2019: Cerner Corporation collaborated with Amazon Web Services, Inc. Under this collaboration agreement; Cerner Corporation named AWS its preferred cloud provider. The agreement also focuses on accelerating Artificial Intelligence (AI), Machine Learning (ML), and other cutting-edge innovations in healthcare.
Implementation Models Covered:
• Hybrid Models
• Centralized/Consolidated Models
• Decentralized/Federated Models
• Gastrointestinal Surgeries
Types Covered:
• Consumer-Mediated Exchange
• Directed Exchange
• Query-Based Exchange
Setup Types Covered:
• Private HIE
• Public HIE
Solutions Covered:
• Portal-Centric Solutions
• Messaging-Centric Solutions
• Platform-Centric Solutions
Deployments Covered:
• On-Premise
• Cloud-Based
Product Types Covered:
• Electronic Health Record (EHR) Vendor Medicated HIE
• Non-Electronic Health Record (EHR) Vendor HIE
Components-Based Covered:
• Enterprise Master Person Index (EMPI)
• Clinical Data Repository
• Record Locator Service (RLS)
• Healthcare Provider Directory (HPD)
Applications Covered:
• Internal Interfacing
• Secure Messaging
• Web Portal Development
• Workflow Management
• Patient Safety
End Users Covered:
• Healthcare Payers
• Healthcare Providers
• Pharmacies
• Medical Research Institution
• Medical Professional
• Public Health Agency
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Health Information Exchange (HIE) Market, By Implementation Model
5.1 Introduction
5.2 Hybrid Models
5.3 Centralized/Consolidated Models
5.4 Decentralized/Federated Models
5.5 Gastrointestinal Surgeries
6 Global Health Information Exchange (HIE) Market, By Type
6.1 Introduction
6.2 Consumer-Mediated Exchange
6.3 Directed Exchange
6.4 Query-Based Exchange
7 Global Health Information Exchange (HIE) Market, By Setup Type
7.1 Introduction
7.2 Private HIE
7.3 Public HIE
8 Global Health Information Exchange (HIE) Market, By Solution
8.1 Introduction
8.2 Portal-Centric Solutions
8.3 Messaging-Centric Solutions
8.4 Platform-Centric Solutions
9 Global Health Information Exchange (HIE) Market, By Deployment
9.1 Introduction
9.2 On-Premise
9.3 Cloud-Based
10 Global Health Information Exchange (HIE) Market, By Product Type
10.1 Introduction
10.2 Electronic Health Record (EHR) Vendor Medicated HIE
10.3 Non-Electronic Health Record (EHR) Vendor HIE
11 Global Health Information Exchange (HIE) Market, By Component-Based
11.1 Introduction
11.2 Enterprise Master Person Index (EMPI)
11.3 Clinical Data Repository
11.4 Record Locator Service (RLS)
11.5 Healthcare Provider Directory (HPD)
12 Global Health Information Exchange (HIE) Market, By Application
12.1 Introduction
12.2 Internal Interfacing
12.3 Secure Messaging
12.4 Web Portal Development
12.5 Workflow Management
12.6 Patient Safety
13 Global Health Information Exchange (HIE) Market, By End User
13.1 Introduction
13.2 Healthcare Payers
13.3 Healthcare Providers
13.4 Pharmacies
13.5 Medical Research Institution
13.6 Medical Professional
13.7 Public Health Agency
14 Global Health Information Exchange (HIE) Market, By Geography
14.1 Introduction
14.2 North America
14.2.1 US
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 Italy
14.3.4 France
14.3.5 Spain
14.3.6 Rest of Europe
14.4 Asia Pacific
14.4.1 Japan
14.4.2 China
14.4.3 India
14.4.4 Australia
14.4.5 New Zealand
14.4.6 South Korea
14.4.7 Rest of Asia Pacific
14.5 South America
14.5.1 Argentina
14.5.2 Brazil
14.5.3 Chile
14.5.4 Rest of South America
14.6 Middle East & Africa
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Qatar
14.6.4 South Africa
14.6.5 Rest of Middle East & Africa
15 Key Developments
15.1 Agreements, Partnerships, Collaborations and Joint Ventures
15.2 Acquisitions & Mergers
15.3 New Product Launch
15.4 Expansions
15.5 Other Key Strategies
16 Company Profiling
16.1 Allscripts Healthcare, LLC
16.2 Cerner Corporation
16.3 eClinicalWorks
16.4 Epic Systems Corporation
16.5 General Electric Company
16.6 Great Lakes Health Connect
16.7 Health Catalyst
16.8 CORHIO
16.9 Health Level Seven (HL7) International
16.10 Integrated Health Information Systems (IHiS)
16.11 Intersystems Corporation
16.12 McKesson Corporation
16.13 Meditech
16.14 Nextgen Healthcare Information System, LLC
16.15 Optum, Inc.
16.16 Oracle Corporation
16.17 Orion Health Group Limited
16.18 San Diego Health Connect
16.19 The Health Collaborative
16.20 ZorgNetOost
List of Tables
1 Global Health Information Exchange (HIE) Market Outlook, By Region (2019-2028) ($MN)
2 Global Health Information Exchange (HIE) Market Outlook, By Implementation Model (2019-2028) ($MN)
3 Global Health Information Exchange (HIE) Market Outlook, By Hybrid Models (2019-2028) ($MN)
4 Global Health Information Exchange (HIE) Market Outlook, By Centralized/Consolidated Models (2019-2028) ($MN)
5 Global Health Information Exchange (HIE) Market Outlook, By Decentralized/Federated Models (2019-2028) ($MN)
6 Global Health Information Exchange (HIE) Market Outlook, By Gastrointestinal Surgeries (2019-2028) ($MN)
7 Global Health Information Exchange (HIE) Market Outlook, By Type (2019-2028) ($MN)
8 Global Health Information Exchange (HIE) Market Outlook, By Consumer-Mediated Exchange (2019-2028) ($MN)
9 Global Health Information Exchange (HIE) Market Outlook, By Directed Exchange (2019-2028) ($MN)
10 Global Health Information Exchange (HIE) Market Outlook, By Query-Based Exchange (2019-2028) ($MN)
11 Global Health Information Exchange (HIE) Market Outlook, By Setup Type (2019-2028) ($MN)
12 Global Health Information Exchange (HIE) Market Outlook, By Private HIE (2019-2028) ($MN)
13 Global Health Information Exchange (HIE) Market Outlook, By Public HIE (2019-2028) ($MN)
14 Global Health Information Exchange (HIE) Market Outlook, By Solution (2019-2028) ($MN)
15 Global Health Information Exchange (HIE) Market Outlook, By Portal-Centric Solutions (2019-2028) ($MN)
16 Global Health Information Exchange (HIE) Market Outlook, By Messaging-Centric Solutions (2019-2028) ($MN)
17 Global Health Information Exchange (HIE) Market Outlook, By Platform-Centric Solutions (2019-2028) ($MN)
18 Global Health Information Exchange (HIE) Market Outlook, By Deployment (2019-2028) ($MN)
19 Global Health Information Exchange (HIE) Market Outlook, By On-Premise (2019-2028) ($MN)
20 Global Health Information Exchange (HIE) Market Outlook, By Cloud-Based (2019-2028) ($MN)
21 Global Health Information Exchange (HIE) Market Outlook, By Product Type (2019-2028) ($MN)
22 Global Health Information Exchange (HIE) Market Outlook, By Electronic Health Record (EHR) Vendor Medicated HIE (2019-2028) ($MN)
23 Global Health Information Exchange (HIE) Market Outlook, By Non-Electronic Health Record (EHR) Vendor HIE (2019-2028) ($MN)
24 Global Health Information Exchange (HIE) Market Outlook, By Component-Based (2019-2028) ($MN)
25 Global Health Information Exchange (HIE) Market Outlook, By Enterprise Master Person Index (EMPI) (2019-2028) ($MN)
26 Global Health Information Exchange (HIE) Market Outlook, By Clinical Data Repository (2019-2028) ($MN)
27 Global Health Information Exchange (HIE) Market Outlook, By Record Locator Service (RLS) (2019-2028) ($MN)
28 Global Health Information Exchange (HIE) Market Outlook, By Healthcare Provider Directory (HPD) (2019-2028) ($MN)
29 Global Health Information Exchange (HIE) Market Outlook, By Application (2019-2028) ($MN)
30 Global Health Information Exchange (HIE) Market Outlook, By Internal Interfacing (2019-2028) ($MN)
31 Global Health Information Exchange (HIE) Market Outlook, By Secure Messaging (2019-2028) ($MN)
32 Global Health Information Exchange (HIE) Market Outlook, By Web Portal Development (2019-2028) ($MN)
33 Global Health Information Exchange (HIE) Market Outlook, By Workflow Management (2019-2028) ($MN)
34 Global Health Information Exchange (HIE) Market Outlook, By Patient Safety (2019-2028) ($MN)
35 Global Health Information Exchange (HIE) Market Outlook, By End User (2019-2028) ($MN)
36 Global Health Information Exchange (HIE) Market Outlook, By Healthcare Payers (2019-2028) ($MN)
37 Global Health Information Exchange (HIE) Market Outlook, By Healthcare Providers (2019-2028) ($MN)
38 Global Health Information Exchange (HIE) Market Outlook, By Pharmacies (2019-2028) ($MN)
39 Global Health Information Exchange (HIE) Market Outlook, By Medical Research Institution (2019-2028) ($MN)
40 Global Health Information Exchange (HIE) Market Outlook, By Medical Professional (2019-2028) ($MN)
41 Global Health Information Exchange (HIE) Market Outlook, By Public Health Agency (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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