The Growth in this HIE Market can be attributed to factors such as growing need to curtail healthcare costs, focus on patient-centric care delivery, growing adoption of EHRs and other HCIT solutions, government initiatives for enhancing patient care and safety, government funding for healthcare interoperability.However, data privacy concerns, need for significant investments in infrastructure development and high cost of deployment, lack of true interoperable solutions are expected to hinder the market growth.According to the new market research report “Health Information Exchange (HIE) Market by Set Up Type (Public, Private), Implementation Model (Federated, Hybrid), Type (Pull, Push), Application (Web Portal, Secure Messaging), Solution (Portal, Platform Centric), End User – Global Forecast to 2025″, published by MarketsandMarkets™, the global Health Information Exchange Market is expected to reach 2.0 billion by 2025 from an estimated USD 1.1 billion in 2020 at a CAGR of 12.2% during the forecast period.COVID-19 Impact on the Health information exchange MarketThe COVID-19 pandemic has created technological shifts crucial to providing better care.
It has also increased the need for social distancing among physicians and patients, which has driven the demand for remote patient monitoring and telehealth solutions and the need for the accurate and timely exchange of patient health records.
These solutions allow a seamless exchange and interpretation of health-related data among healthcare organizations and patients for clinical decision-making and other applications.Browse in-depth TOC on “Health Information Exchange (HIE) Market”141 – Tables36 – Figures199 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=249987292The health information exchange market includes Tier I and II vendors Epic Systems Corporation (US), Cerner Coporation (US), MEDITECH(US), and Intersystems Corporation (US) among others.
The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.The private HIE segment is expected to account for the largest share during the forecast periodBased on the setup type, the health information exchange market is segmented into public and private HIE.
The large share and high growth can be attributed to the various advantages it offers as compared to public HIEs, such as additional functionalities and strong technical support.The hybrid model is expected to grow at the highest rate during the forecast periodBased on the implementation model, the health information exchange market is segmented into centralized/consolidated model, federated/decentralized, hybrid models.
The large share and high growth can be attributed to the various advantages it offers as such as controlled flow of data and support to diverse communities, cost-effective database solution and is often the only choice for cost-constrained organizations.The directed exchange segment to account for the largest share during the forecast periodBased on the type, the health information exchange market is segmented into directed (push HIE), query-based (pull-HIE), consumer-mediated exchange solutions.