08-Jan-2020 | Zion Market Research
Zion Market Research has published a new report titled “Healthcare Interoperability Solutions Market by Type (Software and Services) by Interoperability Level (Structural, Semantic, and Foundational), for Long Term Care Centers, Diagnostic and Imaging Centers, Pharmacies, Hospitals and Clinics and Other End Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for healthcare interoperability solutions market was valued at approximately USD 1.94 billion in 2018, and is expected to generate revenue of around USD 4.94 billion by end of 2025, growing at a CAGR of around 14.3% between 2019 and 2025.
Browse the full “Healthcare Interoperability Solutions Market by Type (Software and Services) by Interoperability Level (Structural, Semantic, and Foundational), for Long Term Care Centers, Diagnostic and Imaging Centers, Pharmacies, Hospitals and Clinics and Other End Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2025” Report at https://www.zionmarketresearch.com/report/healthcare-interoperability-solutions-market
Health interoperability solutions are designed to provide endless capabilities to healthcare. It has revolutionized the scope of healthcare services. It helps to ingest, store, manage, exchange and imaging-related data in healthcare sector. It acts as a business platform that automates and streamlines pre-authorization and referral processes and archives DICOM and non-DICOM data. It gives access to all information of patient care, manages data storage capacities, image viewing and medical screenings. The system can immediately retrieve information of patients, improve accuracy, consistency and quality of care.
The growth for global healthcare interoperability solutions market is driven by increasing emphasis of healthcare providers on offering patient-centric care delivery and growing need to reduce healthcare costs. Also, government initiatives to offer better patient care and safety, high investments in health care, government funding and programs are projected to extensively boost the growth of the health interoperability solutions market. However, dearth of skilled health care IT workers, data privacy issues, complex and inconsistent data may hinder market growth over the forecast period. Increasing investments in emerging markets to improve healthcare infrastructure to offer better patient care are expected to open new growth avenues over the forecast period.
The healthcare interoperability solutions market is segmented based on solution type, end user, interoperability level, and region. Based on type, global market is segmented into services and software. In 2018, software segment held major revenue share whereas services segment will register fastest growth in the coming years. The software segment is sub-segmented into enterprise solutions, lab system interoperability solutions, imaging system solutions, health care information exchange solutions, electronic health records solutions, and other interoperability solutions. EHR/EMR solution segment dominated the software segment in 2018 due to higher installation rate of EHR systems and increasing need to make HER systems interoperable. Other interoperability solutions segment covers medical billing solutions, practice management software, system document management, etc.
Based on the interoperability levels, global market is segmented into foundational, structural and semantic. Semantic solutions segment is projected to grow at a fastest CAGR in the coming years whereas foundational solutions segment held leading market share in 2018 as a result of increasing need for more accurate and safe data interchanging system across different systems.
Based on end user, market is segmented into diagnostic and imaging centers, pharmacies, hospitals and clinics, long term care centers, and others. Hospitals and clinics were largest end user segment in 2018 due to rising number of patient volume, increasing need for data privacy and error free data management solutions.
At regional level, North held leading market share due to the growing demand for efficient healthcare delivery, increasing need to minimize healthcare costs and government initiatives to enhance patient care and safety. Asia Pacific region will exhibit fastest growth in the coming years for global healthcare interoperability solutions market. This fast growth is attributed to multiple factors such as growing demand for quality health care, need for integration of HCIT solutions with medical devices, increasing popularity of medical tourism, and need to offer better care to patients at cheaper prices. Presence of developed infrastructure, availability of advanced healthcare facilities and swift adoption of healthcare interoperability solutions are factors that are likely to boost market growth in Europe. Middle East and Africa region will experience moderate growth in the coming years. Latin America is expected to register moderate growth during the forecast period.
Major players included in the report are Cerner Corporation, Infor, Inc., Allscripts Healthcare Solutions, Inc., Koninklijke Philips NV, Orion Health Group Limited, OSP Labs, InterSystems Corporation, Epic Systems Corporation, ViSolve, Inc.and Quality Systems, Inc.
The report segment of the global healthcare interoperability solutions market as follows:
Global Healthcare Interoperability Solutions Market: Type
Global Healthcare Interoperability Solutions Market: Interoperability levels Analysis
Global Healthcare Interoperability Solutions Market: End User Analysis
Global Healthcare Interoperability Solutions Market: Regional Segment Analysis
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