Healthcare Interoperability Solutions
Healthcare Interoperability Solutions Market Forecasts to 2030 - Global Analysis By Level (Foundational, Semantic, Structural and Other Levels), Type, Deployment, End User and By Geography
According to Stratistics MRC, the Global Healthcare Interoperability Solutions Market is accounted for $4.0 billion in 2023 and is expected to reach $11.9 billion by 2030 growing at a CAGR of 16.9% during the forecast period. In order to improve individual and community health outcomes, interoperability in healthcare refers to the integration and use of electronic health data with prompt and secure access. The healthcare sector is currently heavily focused on improving the standard of healthcare facilities and operating effectiveness, decreasing medical errors that occur during various medical procedures, and reducing operational costs. These solutions enable the interchange of health data between two or more systems and the subsequent use of that data.
According to the June 2022 report of the Federal Statistical Office (Destatis) of Germany, the country's healthcare expenditure is increasing year over year and in 2020 it stood at EUR 441 billion.
Market Dynamics:
Driver:
Increasing volumes of healthcare data
Electronic health records (EHRs), medical images, clinical notes, and patient histories are only a few of the types of data that healthcare systems produce in huge amounts. Solutions for interoperability are necessary to store and share this data effectively, securely, and across institutions, systems, and healthcare providers. Additionally, healthcare providers must be able to effortlessly exchange and integrate patient data in order to obtain comprehensive patient records, make wise clinical judgments, lower medical errors, and enhance care coordination.
Restraint:
Concerns about data security and privacy
Concerns regarding data security and patient privacy are raised by the sharing of private patient data through numerous healthcare organizations and systems. Identity theft, fraud, and breaches of patient confidence are just a few of the serious consequences that can result from healthcare data breaches. Healthcare firms must make significant investments in advanced access controls, encryption technologies, and cybersecurity measures to address these issues. However, they must follow strict data privacy laws like GDPR in the European Union and HIPAA in the United States.
Opportunity:
Better patient care and outcomes
Medical professionals can easily share patient data, such as electronic health records, diagnostic results, and treatment histories, due to interoperability solutions. Healthcare practitioners are granted immediate access to detailed patient data, enabling them to make better-educated clinical decisions that improve patient care and produce favorable results. Furthermore, interoperable systems help to lower medical errors, prevent unnecessary testing, and guarantee accurate and prompt treatment, all of which enhance the general standard of care. The simplified process of care coordination amongst various providers results in a more patient-centric approach to healthcare.
Threat:
High costs
Healthcare treatments will be more efficiently managed and patient care will be improved with interoperable systems, but there may be significant up-front costs involved in implementing them. Healthcare firms need to establish separate funds for staff training, interoperability software purchases, integrating various systems, and modernizing the IT infrastructure that is already in existence. However, smaller healthcare facilities and groups with limited resources may be particularly impacted by these expenses.
Covid-19 Impact:
Due to the unexpected rise in COVID-19 cases, the COVID-19 pandemic had a huge impact on the global economy and healthcare system. The unexpected floods of COVID-19 patients with various medical issues disturbed the regular operation of any healthcare facility, which considerably boosted the demand for healthcare interoperability solutions. An unprecedented worldwide public health threat, the COVID-19 pandemic is expected to positively affect the market for healthcare interoperability solutions for the R&D of vaccines and antiviral drugs.
The semantic segment is expected to be the largest during the forecast period
Semantic segment dominated the largest share over the forecast period. The most reliable interoperability method that is currently on the market, semantic interoperability, allows for the transmission of information between more than two systems. Through possibly different EHRs and other systems, semantic interoperability facilitates the electronic interchange of patient data among various authorized parties and providers in order to increase the effectiveness, efficiency, and safety of healthcare delivery. Additionally, semantic segment which consists of the capacity to comprehend and accurately determine the meaning of healthcare information, is a crucial aspect of healthcare data interchange.
The healthcare payers segment is expected to have the highest CAGR during the forecast period
Healthcare Payers segment is expected to have the highest CAGR during the forecast period. Interoperable solutions are being used by healthcare payers, such as insurance companies and governmental organizations, in an effort to accelerate the processing of insurance claims, improve payment procedures, and improve the overall management of healthcare expenses. Additionally, payers are utilizing interoperability to enable more effective financial transactions and data interchange with healthcare providers as healthcare costs increase while lowering administrative costs.
Region with largest share:
Owing to the increasing awareness of healthcare quality and patient safety and the need for accessible, effective care, Asia Pacific is anticipated to hold the largest share of the market over the projected period. Additionally, rapid urbanization and economic growth in the area are promoting the development of healthcare institutions, which offer the potential for the adoption of cutting-edge health IT systems.
Region with highest CAGR:
Due to the region's huge and diverse population, which is driving up demand for better healthcare services and technologies, Asia Pacific is predicted to have profitable growth. To improve patient care, organize healthcare procedures, and lower costs, governments around Asia-Pacific are expanding their investments in healthcare infrastructure, digital health programs, and the use of interoperable technologies.
Key players in the market
Some of the key players in Healthcare Interoperability Solutions market include International Business Machines Corporation (IBM), Orion Health Group Limited, Virtusa Corpopration, Jitterbit, Koch Software Investments (Infor Inc.), NextGen Healthcare Inc., EPIC Systems Corporation, Oracle Corporation, Allscripts Healthcare LLC and Koninklijke Philips NV.
Key Developments:
In October 2022, Lyniate (US) partnered with CyncHealth (US) to help healthcare providers and health networks, payers, and public health departments power more meaningful data exchange.
In September 2022, Lyniate (US) partnered with BrightInsight (US) to improve Information Exchange for Regulated Digital Health Solutions Built on the BrightInsight Platform.
In March 2022, eHealth Exchange, the non-profit health information network that connects providers and federal agencies, received a new Innovation Grant program of USD 550,000 to help catalyze new and innovative ways to boost electronic health information exchange or build new technical connectivity tools.
Levels Covered:
• Foundational
• Semantic
• Structural
• Other Levels
Types Covered:
• Solutions
• Services
• Other Types
Deployments Covered:
• On-premise
• Cloud-based
End Users Covered:
• Healthcare Payers
• Pharmacies
• Other End Users
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 2021, 2022, 2023, 2026, and 2030
- 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
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 End User Analysis
3.7 Emerging Markets
3.8 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 Healthcare Interoperability Solutions Market, By Level
5.1 Introduction
5.2 Foundational
5.3 Semantic
5.4 Structural
5.5 Other Levels
6 Global Healthcare Interoperability Solutions Market, By Type
6.1 Introduction
6.2 Solutions
6.3 Services
6.4 Other Types
7 Global Healthcare Interoperability Solutions Market, By Deployment
7.1 Introduction
7.2 On-premise
7.3 Cloud-based
8 Global Healthcare Interoperability Solutions Market, By End User
8.1 Introduction
8.2 Healthcare Payers
8.3 Pharmacies
8.4 Other End Users
9 Global Healthcare Interoperability Solutions Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 International Business Machines Corporation (IBM)
11.2 Orion Health Group Limited
11.3 Virtusa Corpopration
11.4 Jitterbit
11.5 Koch Software Investments (Infor Inc.)
11.6 NextGen Healthcare Inc.
11.7 EPIC Systems Corporation
11.8 Oracle Corporation
11.9 Allscripts Healthcare LLC
11.10 Koninklijke Philips NV
List of Tables
1 Global Healthcare Interoperability Solutions Market Outlook, By Region (2021-2030) ($MN)
2 Global Healthcare Interoperability Solutions Market Outlook, By Level (2021-2030) ($MN)
3 Global Healthcare Interoperability Solutions Market Outlook, By Foundational (2021-2030) ($MN)
4 Global Healthcare Interoperability Solutions Market Outlook, By Semantic (2021-2030) ($MN)
5 Global Healthcare Interoperability Solutions Market Outlook, By Structural (2021-2030) ($MN)
6 Global Healthcare Interoperability Solutions Market Outlook, By Other Levels (2021-2030) ($MN)
7 Global Healthcare Interoperability Solutions Market Outlook, By Type (2021-2030) ($MN)
8 Global Healthcare Interoperability Solutions Market Outlook, By Solutions (2021-2030) ($MN)
9 Global Healthcare Interoperability Solutions Market Outlook, By Services (2021-2030) ($MN)
10 Global Healthcare Interoperability Solutions Market Outlook, By Other Types (2021-2030) ($MN)
11 Global Healthcare Interoperability Solutions Market Outlook, By Deployment (2021-2030) ($MN)
12 Global Healthcare Interoperability Solutions Market Outlook, By On-premise (2021-2030) ($MN)
13 Global Healthcare Interoperability Solutions Market Outlook, By Cloud-based (2021-2030) ($MN)
14 Global Healthcare Interoperability Solutions Market Outlook, By End User (2021-2030) ($MN)
15 Global Healthcare Interoperability Solutions Market Outlook, By Healthcare Payers (2021-2030) ($MN)
16 Global Healthcare Interoperability Solutions Market Outlook, By Pharmacies (2021-2030) ($MN)
17 Global Healthcare Interoperability Solutions Market Outlook, By Other End Users (2021-2030) ($MN)
18 North America Healthcare Interoperability Solutions Market Outlook, By Country (2021-2030) ($MN)
19 North America Healthcare Interoperability Solutions Market Outlook, By Level (2021-2030) ($MN)
20 North America Healthcare Interoperability Solutions Market Outlook, By Foundational (2021-2030) ($MN)
21 North America Healthcare Interoperability Solutions Market Outlook, By Semantic (2021-2030) ($MN)
22 North America Healthcare Interoperability Solutions Market Outlook, By Structural (2021-2030) ($MN)
23 North America Healthcare Interoperability Solutions Market Outlook, By Other Levels (2021-2030) ($MN)
24 North America Healthcare Interoperability Solutions Market Outlook, By Type (2021-2030) ($MN)
25 North America Healthcare Interoperability Solutions Market Outlook, By Solutions (2021-2030) ($MN)
26 North America Healthcare Interoperability Solutions Market Outlook, By Services (2021-2030) ($MN)
27 North America Healthcare Interoperability Solutions Market Outlook, By Other Types (2021-2030) ($MN)
28 North America Healthcare Interoperability Solutions Market Outlook, By Deployment (2021-2030) ($MN)
29 North America Healthcare Interoperability Solutions Market Outlook, By On-premise (2021-2030) ($MN)
30 North America Healthcare Interoperability Solutions Market Outlook, By Cloud-based (2021-2030) ($MN)
31 North America Healthcare Interoperability Solutions Market Outlook, By End User (2021-2030) ($MN)
32 North America Healthcare Interoperability Solutions Market Outlook, By Healthcare Payers (2021-2030) ($MN)
33 North America Healthcare Interoperability Solutions Market Outlook, By Pharmacies (2021-2030) ($MN)
34 North America Healthcare Interoperability Solutions Market Outlook, By Other End Users (2021-2030) ($MN)
35 Europe Healthcare Interoperability Solutions Market Outlook, By Country (2021-2030) ($MN)
36 Europe Healthcare Interoperability Solutions Market Outlook, By Level (2021-2030) ($MN)
37 Europe Healthcare Interoperability Solutions Market Outlook, By Foundational (2021-2030) ($MN)
38 Europe Healthcare Interoperability Solutions Market Outlook, By Semantic (2021-2030) ($MN)
39 Europe Healthcare Interoperability Solutions Market Outlook, By Structural (2021-2030) ($MN)
40 Europe Healthcare Interoperability Solutions Market Outlook, By Other Levels (2021-2030) ($MN)
41 Europe Healthcare Interoperability Solutions Market Outlook, By Type (2021-2030) ($MN)
42 Europe Healthcare Interoperability Solutions Market Outlook, By Solutions (2021-2030) ($MN)
43 Europe Healthcare Interoperability Solutions Market Outlook, By Services (2021-2030) ($MN)
44 Europe Healthcare Interoperability Solutions Market Outlook, By Other Types (2021-2030) ($MN)
45 Europe Healthcare Interoperability Solutions Market Outlook, By Deployment (2021-2030) ($MN)
46 Europe Healthcare Interoperability Solutions Market Outlook, By On-premise (2021-2030) ($MN)
47 Europe Healthcare Interoperability Solutions Market Outlook, By Cloud-based (2021-2030) ($MN)
48 Europe Healthcare Interoperability Solutions Market Outlook, By End User (2021-2030) ($MN)
49 Europe Healthcare Interoperability Solutions Market Outlook, By Healthcare Payers (2021-2030) ($MN)
50 Europe Healthcare Interoperability Solutions Market Outlook, By Pharmacies (2021-2030) ($MN)
51 Europe Healthcare Interoperability Solutions Market Outlook, By Other End Users (2021-2030) ($MN)
52 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Country (2021-2030) ($MN)
53 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Level (2021-2030) ($MN)
54 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Foundational (2021-2030) ($MN)
55 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Semantic (2021-2030) ($MN)
56 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Structural (2021-2030) ($MN)
57 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Other Levels (2021-2030) ($MN)
58 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Type (2021-2030) ($MN)
59 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Solutions (2021-2030) ($MN)
60 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Services (2021-2030) ($MN)
61 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Other Types (2021-2030) ($MN)
62 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Deployment (2021-2030) ($MN)
63 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By On-premise (2021-2030) ($MN)
64 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Cloud-based (2021-2030) ($MN)
65 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By End User (2021-2030) ($MN)
66 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Healthcare Payers (2021-2030) ($MN)
67 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Pharmacies (2021-2030) ($MN)
68 Asia Pacific Healthcare Interoperability Solutions Market Outlook, By Other End Users (2021-2030) ($MN)
69 South America Healthcare Interoperability Solutions Market Outlook, By Country (2021-2030) ($MN)
70 South America Healthcare Interoperability Solutions Market Outlook, By Level (2021-2030) ($MN)
71 South America Healthcare Interoperability Solutions Market Outlook, By Foundational (2021-2030) ($MN)
72 South America Healthcare Interoperability Solutions Market Outlook, By Semantic (2021-2030) ($MN)
73 South America Healthcare Interoperability Solutions Market Outlook, By Structural (2021-2030) ($MN)
74 South America Healthcare Interoperability Solutions Market Outlook, By Other Levels (2021-2030) ($MN)
75 South America Healthcare Interoperability Solutions Market Outlook, By Type (2021-2030) ($MN)
76 South America Healthcare Interoperability Solutions Market Outlook, By Solutions (2021-2030) ($MN)
77 South America Healthcare Interoperability Solutions Market Outlook, By Services (2021-2030) ($MN)
78 South America Healthcare Interoperability Solutions Market Outlook, By Other Types (2021-2030) ($MN)
79 South America Healthcare Interoperability Solutions Market Outlook, By Deployment (2021-2030) ($MN)
80 South America Healthcare Interoperability Solutions Market Outlook, By On-premise (2021-2030) ($MN)
81 South America Healthcare Interoperability Solutions Market Outlook, By Cloud-based (2021-2030) ($MN)
82 South America Healthcare Interoperability Solutions Market Outlook, By End User (2021-2030) ($MN)
83 South America Healthcare Interoperability Solutions Market Outlook, By Healthcare Payers (2021-2030) ($MN)
84 South America Healthcare Interoperability Solutions Market Outlook, By Pharmacies (2021-2030) ($MN)
85 South America Healthcare Interoperability Solutions Market Outlook, By Other End Users (2021-2030) ($MN)
86 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Country (2021-2030) ($MN)
87 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Level (2021-2030) ($MN)
88 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Foundational (2021-2030) ($MN)
89 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Semantic (2021-2030) ($MN)
90 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Structural (2021-2030) ($MN)
91 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Other Levels (2021-2030) ($MN)
92 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Type (2021-2030) ($MN)
93 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Solutions (2021-2030) ($MN)
94 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Services (2021-2030) ($MN)
95 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Other Types (2021-2030) ($MN)
96 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Deployment (2021-2030) ($MN)
97 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By On-premise (2021-2030) ($MN)
98 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Cloud-based (2021-2030) ($MN)
99 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By End User (2021-2030) ($MN)
100 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Healthcare Payers (2021-2030) ($MN)
101 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Pharmacies (2021-2030) ($MN)
102 Middle East & Africa Healthcare Interoperability Solutions Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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