The Global Health Information Exchange Market accounted for USD 1.23 Billion in 2020 and is expected to reach USD 3.42 Billion by 2028, growing at a CAGR of 13.6% from 2020 to 2028.
Market Overview
The Global Health Information Exchange Market accounted for USD 1.23 Billion in 2020 and is expected to reach USD 3.42 Billion by 2028, growing at a CAGR of 13.6% from 2020 to 2028.
Health information exchange technology is being designed to facilitate the dissemination and sharing of data between providers, as well as the sharing of health information records among providers in different geographic regions of the world. The Nationwide Health Information Exchange Network will facilitate data sharing among providers and health systems via health information exchange. HIMSS is deeply involved in the creation of health information exchanges, and it also offers a variety of tools and statistical services for health information exchange practitioners around the world.
COVID-19 Impact Analysis
The COVID-19 pandemic has a wide range of consequences for the healthcare industry. To avoid the transmission of the epidemic, government-imposed restrictions on travel and a social distancing policy are in place. The epidemic infected a large number of people around the world, resulting in a growing patient pool. The hospital and clinics eventually ran into problems treating such a large number of patients and keeping track of their medical history.
Furthermore, the decline in medical and nursing personnel put a significant strain on physicians, nurses, and other healthcare professionals. During this pandemic, HIE allowed the compilation and standardisation of all public health records, making them readily accessible to physicians. As a result, the COVID-19 pandemic has provided a significant gap for the global health knowledge sharing industry, which is projected to expand rapidly.
Growth Factors
One of the major growth drivers for the Global Health Information Exchange Market is rising awareness about healthcare information exchange system. Health information exchange facilitates high-speed access to exchange medical clinical records with hospitals and doctors, allowing for fast, reliable, and successful patient recovery. Sharing patient data on a regular basis aids in making informed decisions at the point of treatment, reduces duplicate tests and improves diagnosis rates, and prevents readmissions and prescription errors. Clinical data from a variety of providers, public health data, and expense and activity data from a variety of providers and payers are also used in the health information exchange.
Another factor for the growth of this market is reducing the costs that is associated with the maintenance of health records in hard copy. The technology provides excellent patient care while reducing costs associated with manual processes such as shipping patient notes, copying documents, and the time and effort required to retrieve patient files. Furthermore, according to a study published by the National Center for Biotechnology Information, retrieving data from electronic health records is much quicker and simpler than obtaining traditional hard copy records. Throughout the forthcoming years, this is supposed to boost demand for HIE industry.
Report Scope :
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Solution Segment Analysis Preview
The portal-centric portion of the total health information sharing industry had the largest share of the market based on solution form. The growing number of online portal developments allowing improved and easy access to healthcare information can be credited for the high share. During the forecast era, platform-centric is projected to rise at a CAGR of over 6.0 percent. The core drivers that are supposed to provide the growth platform for this segment are government policies such as the Health Information Technology for Economic and Clinical Health Act (HITECH), which focuses on patient participation.
Application Segment Analysis Preview
The web portal creation segment, which holds the largest share of over 37 % in 2020, is the HIE's most popular application. This is due to the improved visibility of patient health data, which can be accessed through patient portals. For example, Allscripts Healthcare Solutions, Inc.'s FollowMyHealth allows patients to connect with doctors and learn useful information about their health conditions. Internal interfacing is predicted to expand rapidly over the
Region Segment Analysis Preview
The Global Health Information Exchange Market is divided into five regions, North America, Europe, Asia Pacific, Latin America and Middle East Africa . North America has the highest CAGR of the health information sharing industry, accounting for more than 14.0 %. Its leading role in the regional market is due to high visibility of HIE systems, ongoing government initiatives, the involvement of non-profit organisations, and the presence of influential players domiciled in this field, such as Medicity, Inc. and IBM Corporation.
The Asia Pacific region is expected to witness significant growth in the upcoming years. It is due to the increasing number of patients, which requires better information systems for effective data management and the rising expenditure in healthcare sector in the countries like India and China.
Key Market Players and Competitive Landscape
Some of the key players in the Global Health Information Exchange Market include GE Healthcare, IBM Corporation, Siemens AG, Orion Health, Inc., Allscripts Healthcare Solutions, Inc., Medicity, Inc., CareEvolution, Inc., Cerner Corporation, eClinicalWorks, RelayHealth Corporation
These key players have adopted various strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their health information exchange system.
The market is fiercely competitive, and players are pursuing long-term plans such as new product releases, corporate alliances, mergers and acquisitions, and technical advancements. For example, in February 2016, Orion Health announced a strategic partnership with Cognizant, allowing the latter to leverage Orion Health's open data platform Amadeus, resulting in a product portfolio expansion.
The Global Health Information Exchange Market is segmented as follows:-
Setup
Implementation Model
Solution
Application
By Region???????
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Setup
FIG NO. 2. Market Attractiveness Analysis, By Implementation Model
FIG NO. 3. Market Attractiveness Analysis, By Solution
FIG NO. 4. Market Attractiveness Analysis, By Application
FIG NO. 5. Market Attractiveness Analysis, By Region
FIG NO. 6. Global Health Information Exchange Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 7. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 8. Market Revenue Share, By Setup, 2020 & 2028
FIG NO. 9. Global Health Information Exchange Market for Public, Revenue (USD Million) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Health Information Exchange Market for Public, By Country, 2020 & 2028
FIG NO. 11. Global Health Information Exchange Market for Private, Revenue (USD Million) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Health Information Exchange Market for Private, By Country, 2020 & 2028
FIG NO. 13. Market Revenue Share, By Implementation Model, 2020 & 2028
FIG NO. 14. Global Health Information Exchange Market for Centralized, Revenue (USD Million) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Health Information Exchange Market for Centralized, By Country, 2020 & 2028
FIG NO. 16. Global Health Information Exchange Market for Decentralized, Revenue (USD Million) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Health Information Exchange Market for Decentralized, By Country, 2020 & 2028
FIG NO. 18. Global Health Information Exchange Market for Hybrid, Revenue (USD Million) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Health Information Exchange Market for Hybrid, By Country, 2020 & 2028
FIG NO. 20. Market Revenue Share, By Solution, 2020 & 2028
FIG NO. 21. Global Health Information Exchange Market for Portal Centric, Revenue (USD Million) 2016 – 2028
FIG NO. 22. Comparative Revenue Analysis of Health Information Exchange Market for Portal Centric, By Country, 2020 & 2028
FIG NO. 23. Global Health Information Exchange Market for Platform Centric, Revenue (USD Million) 2016 – 2028
FIG NO. 24. Comparative Revenue Analysis of Health Information Exchange Market for Platform Centric, By Country, 2020 & 2028
FIG NO. 25. Global Health Information Exchange Market for Messaging Centric, Revenue (USD Million) 2016 – 2028
FIG NO. 26. Comparative Revenue Analysis of Health Information Exchange Market for Messaging Centric, By Country, 2020 & 2028
FIG NO. 27. Global Health Information Exchange Market for Others, Revenue (USD Million) 2016 – 2028
FIG NO. 28. Comparative Revenue Analysis of Health Information Exchange Market for Others, By Country, 2020 & 2028
FIG NO. 29. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 30. Global Health Information Exchange Market for Web Portal Development, Revenue (USD Million) 2016 – 2028
FIG NO. 31. Comparative Revenue Analysis of Health Information Exchange Market for Web Portal Development, By Country, 2020 & 2028
FIG NO. 32. Global Health Information Exchange Market for Workflow Management, Revenue (USD Million) 2016 – 2028
FIG NO. 33. Comparative Revenue Analysis of Health Information Exchange Market for Workflow Management, By Country, 2020 & 2028
FIG NO. 34. Global Health Information Exchange Market for Internal Interfacing, Revenue (USD Million) 2016 – 2028
FIG NO. 35. Comparative Revenue Analysis of Health Information Exchange Market for Internal Interfacing, By Country, 2020 & 2028
FIG NO. 36. Global Health Information Exchange Market for Others, Revenue (USD Million) 2016 – 2028
FIG NO. 37. Comparative Revenue Analysis of Health Information Exchange Market for Others, By Country, 2020 & 2028
FIG NO. 38. Global Health Information Exchange Market Revenue Share, By Region, 2020 & 2028
FIG NO. 39. North America Health Information Exchange Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 40. Porter’s Five Forces Analysis for Global Health Information Exchange Market
FIG NO. 41. PEST Analysis for Global Health Information Exchange Market
FIG NO. 42. Pricing Analysis for Global Health Information Exchange Market
FIG NO. 43. Value Chain Analysis for Global Health Information Exchange Market
FIG NO. 44. Company Share Analysis, 2019
FIG NO. 45. Radar Determinant Chart, 2019
FIG NO. 46. Company Strategic Developments – Heat Map Analysis
FIG NO. 47. GE Healthcare Business Segment Revenue Share, 2020 (%)
FIG NO. 48. GE Healthcare Geographical Segment Revenue Share, 2020 (%)
FIG NO. 49. Market Channels
FIG NO. 50. Marketing Channel Development Trend
FIG NO. 51. Growth in World Gross Product, 2008-2018
FIG NO. 52. Research Methodology – Detailed View
FIG NO. 53. Research Methodology
List of Tables
TABLE NO. 1 Global Health Information Exchange Market: Snapshot
TABLE NO. 2 Quarterly Health Information Exchange Market Revenue by Region, 2020
TABLE NO. 3 Quarterly Health Information Exchange Market Revenue Forecast by Region, 2021
TABLE NO. 4 Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5 Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6 Global Health Information Exchange Market for Public, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7 Global Health Information Exchange Market for Private, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8 Global Health Information Exchange Market for Centralized, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9 Global Health Information Exchange Market for Decentralized, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10 Global Health Information Exchange Market for Hybrid, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11 Global Health Information Exchange Market for Portal Centric, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12 Global Health Information Exchange Market for Platform Centric, by Region, 2016 – 2028 (USD Million)
TABLE NO. 13 Global Health Information Exchange Market for Messaging Centric, by Region, 2016 – 2028 (USD Million)
TABLE NO. 14 Global Health Information Exchange Market for Others, by Region, 2016 – 2028 (USD Million)
TABLE NO. 15 Global Health Information Exchange Market for Web Portal Development, by Region, 2016 – 2028 (USD Million)
TABLE NO. 16 Global Health Information Exchange Market for Workflow Management, by Region, 2016 – 2028 (USD Million)
TABLE NO. 17 Global Health Information Exchange Market for Internal Interfacing, by Region, 2016 – 2028 (USD Million)
TABLE NO. 18 Global Health Information Exchange Market for Others, by Region, 2016 – 2028 (USD Million)
TABLE NO. 19 Global Health Information Exchange Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 20 North America Health Information Exchange Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 21 North America Health Information Exchange Market Revenue, By Setup, 2016 – 2028 (USD Million)
TABLE NO. 22 North America Health Information Exchange Market Revenue, By Implementation Model, 2016 – 2028 (USD Million)
TABLE NO. 23 North America Health Information Exchange Market Revenue, By Solution, 2016 – 2028 (USD Million)
TABLE NO. 24 North America Health Information Exchange Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 25 U.S. Health Information Exchange Market Revenue, By Setup, 2016 – 2028 (USD Million)
TABLE NO. 26 U.S. Health Information Exchange Market Revenue, By Implementation Model, 2016 – 2028 (USD Million)
TABLE NO. 27 U.S. Health Information Exchange Market Revenue, By Solution, 2016 – 2028 (USD Million)
TABLE NO. 28 U.S. Health Information Exchange Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 29 Canada Health Information Exchange Market Revenue, By Setup, 2016 – 2028 (USD Million)
TABLE NO. 30 Canada Health Information Exchange Market Revenue, By Implementation Model, 2016 – 2028 (USD Million)
TABLE NO. 31 Canada Health Information Exchange Market Revenue, By Solution, 2016 – 2028 (USD Million)
TABLE NO. 32 Canada Health Information Exchange Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 33 Mexico Health Information Exchange Market Revenue, By Setup, 2016 – 2028 (USD Million)
TABLE NO. 34 Mexico Health Information Exchange Market Revenue, By Implementation Model, 2016 – 2028 (USD Million)
TABLE NO. 35 Mexico Health Information Exchange Market Revenue, By Solution, 2016 – 2028 (USD Million)
TABLE NO. 36 Mexico Health Information Exchange Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 37 Drivers for the Health Information Exchange Market: Impact Analysis
TABLE NO. 38 Restraints for the Health Information Exchange Market: Impact Analysis
TABLE NO. 39 Major Buyers of Health Information Exchange
TABLE NO. 40 Distributors/Traders List of Health Information Exchange
TABLE NO. 41 Global Health Information Exchange Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 42 Global Health Information Exchange Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
Request the coronavirus impact analysis across industries and markets
The Global Health Information Exchange Market was valued at USD 1.23 Billion in 2020.
The Global Health Information Exchange Market is expected to reach USD 3.42 Billion by 2028, growing at a CAGR of 13.6% between 2021 to 2028.
Rising awareness about healthcare information exchange system and reducing the costs that is associated with the maintenance of health records in hard copy plays as the major key factors in driving the Global Health Information Exchange Market growth.
North America has the highest sales share of the health information sharing industry, accounting for more than 45%. Its leading role in the regional market is due to high visibility of HIE systems, ongoing government initiatives, the involvement of non-profit organisations, and the presence of influential players.
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