The size of the Health Information Exchange Market in Europe is estimated to be USD 332.45 million in 2022 and is predicted to grow at a CAGR of 8.86% to reach USD 508.24 million by 2027. As a result, Europe is the second-largest region in Health Information Exchange Market.
Healthcare information exchange enables an association between healthcare stakeholders, reduces administrative tasks, and provides better precision in the healthcare field, thus enhancing healthcare delivery's quality, safety, and effectiveness.
Factors such as federal mandates like meaningful use, increasing patient-centric approach in healthcare delivery, rising adoption rate, and decreasing healthcare costs are driving the health information exchange market. On the other hand, though, data security & privacy concerns and the necessity of infrastructural investments to support health information exchange are limiting the growth of this market to a certain extent.
This research report has been segmented and sub-segmented into the following categories:
By Implementation model:
By Setup Type:
Regionally, the European region accounted for a substantial share of the global health information exchange market in 2021. In this region, the U.K. and France are expected to grow at the highest CAGR in the coming years. The U.K. held the leading share of the European market in 2021. England’s state-run NHS (National Health Service) has collaborated with Google to maintain their data. In addition, LHCRE (local healthcare record exemplar), an initiative by England’s government organizations, helps improve patient care excellence. The increasing economy is also one of the factors for the market to grow in this country.
The health information exchange market in France is growing at a promising growth rate. France is one of the first countries to adopt digital health care systems. The market will have the highest CAGR in Scotland in the coming years. Increasing disposable income in urban areas is prompting the market's growth rate. In addition, the growing scale of hospitals and the rising use of electronic health records are enhancing the market's growth. Austria is following Scotland and is growing at the fastest rate. The emergence of advanced technologies in hospitals is a significant factor thin growing the market. The German government is taking new initiatives and increasing funding for the digitalization of healthcare information, eventually lowering the cost of healthcare in the country.
KEY MARKET PLAYERS:
Companies playing an influential role in the Europe health information exchange market are Aetna Medcity, eClinical Works, RelayHealth, Medecision, Epic Corporation Inc., Cerner Corporation, RelayHealth Corporation, Infor Inc., Intersystems, Optum Inc., Alere Wellogic, NextGen Healthcare Information Systems, LLC, Covisint Corporation, Allscripts Healthcare Solutions Inc., and Orion Health.
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