The Healthcare Interoperability Solutions Market is expected to grow at a CAGR of 14% during the forecast period, rising from a valuation of US$ 3.3 billion in 2021 to US$ 5.5 billion by 2026.
Attributes
Details
Healthcare Interoperability Solutions Market CAGR (2022 – 2032)
14%
Healthcare Interoperability Solutions Market (2026)
US$ 5.5 Bn
Healthcare Interoperability Solutions Market Attraction
Availability of EHR solution providers in Asia Pacific to underpin adoption.
The adoption of cloud technology in healthcare services is one of the emerging trends and a major driving force in the healthcare interoperability solutions market. The amount of data in electronic health records is rapidly increasing, making it difficult to store large amounts of data on local storage devices without risking losing vital information.
Large amounts of data are difficult to share when in offline mode. As a result, software solutions for healthcare interoperability are becoming increasingly important. They facilitate the easy sharing and storage of big data, which increases the size of the global healthcare interoperability solutions market. Furthermore, the implementation of various healthcare reforms by the government has increased market demand for healthcare interoperability solutions.
Prior to COVID, healthcare organisations faced interoperability and ineffective data management challenges, which were exacerbated during the pandemic, and clinicians missed critical COVID-19 information due to interoperability issues in healthcare, resulting in inpatient treatment delays and clinicians’ inability to adequately document patients’ status.
Data exchange was ineffective and difficult to coordinate due to the pandemic’s rapid changes each day. With new coronavirus variants causing new COVID-19 outbreaks around the world, data sharing through interoperability is becoming increasingly important.
Because of the factors mentioned above, the healthcare interoperability solutions market is expected to generate approximately US$ 5.5 billion by 2026.
According to the Organization for Economic Co-operation and Development (OECD), public spending on healthcare and long-term care in OECD countries will rise from 6% of GDP in 2018 to nearly 9% by 2030 and 14% by 2060.” affirms an FMI analyst.
Competitive Landscape:
The leading companies in the healthcare interoperability solutions market include Koninklijke Philips NV, Interfaceware Inc., Orion Health Group Limited, Infor Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, Nextgen Healthcare, Inc., OSP Labs, EPIC Systems Corporation, and Intersystems Corporation.
Key Segments Covered:
By Type:
- Software Solutions
- Services
By Level of Interoperability:
- Foundational Interoperability
- Structural Interoperability
- Semantic Interoperability
By End User:
- Healthcare Providers
- Healthcare Payers
- Pharmacies
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