The size of the global HIE market is predicted at USD 1174.58 million in 2020 and growing at a CAGR of 9.2%, to reach USD 1823.88 million by 2025 during the forecast period.
The Health Information Exchange (HIE) will promote data exchange between providers and health systems through the National Health Information Exchange network. HIMSS is actively involved in the development of the health information exchange and also provides a wide range of statistical tools and resources to professionals around the world interested in the transfer of health information.
Several companies in this market are trying to increase their product range to obtain the maximum share of this market. Healthcare Information Exchange is the conduction of healthcare information by electronic means between healthcare professionals, healthcare information organizations, and Government agencies inside a region according to national standards. It permits healthcare providers, patients, and other stakeholders to correctly access and securely shares a patient’s information electronically, by improving efficiency, quality, safety and cost of patient care.
MARKET DRIVERS
The significant factors contributing to the growth of the healthcare information exchange (HIE) market are increasing awareness among people about the advanced technologies to exchange information related to health, growing applications of EHR devices.
The electronic system improves the storage system of the information by eliminating the paper-based information and helps the hospital to give quick and improved quality treatment which is additionally fueling the growth rate of the market. Adoption of advanced technologies in the healthcare centres and the government throughout the world is investing in the health care information system to improve the health care services in their country which is expected to drive the growth further.
Factors such as increasing demand for PHR and EHR in economically developing nations, increasing the adoption of mobile health applications and cloud-based systems are likely to provide lucrative growth opportunities to the global healthcare information exchange market during the forecast period.
MARKET RESTRAINTS
The necessity of significant infrastructural investments, with low return on investment and data security & privacy concerns, are primarily restricting the growth of the healthcare information exchange market. Further, the budget restrictions in developing countries, high costs associated with high-end technologies, and interoperability issues.
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Type, Implementation Model, Setup Type, Application, Component-Based, End-User and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape and Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This market research report on Global HIE has been segmented and sub-segmented based on by type, implementation model, setup type, application, component-based, end-user and region.
Healthcare Information Exchange Market - By Type:
Based on type, in 2019, the direct exchange segment had the most substantial share market value. The growing trend of passing the documents to the physicians and point-to-point transactions support are the key factors helping this segment to continue the lead.
Direct exchange provides an essay and secure way of sending patient information from one organization to other this is one of the factors propelling the market growth. The direct exchange also helps to provide immunization data to the health organization.
Healthcare Information Exchange Market - By Implementation model:
Among all, the hybrid model segment is likely to account the largest share in the coming years. Increasing changes in delivering the patient care, and also improve the quality of the operational efficiency are critical attributes for this segment in the market to grow eventually.
The hybrid model system proved flexibility which is essential to handle extensive data. It is boosting the growth of the segment in the market. The hybrid model increases the capability of data analysis and provide ample data storage which helps the market to grow tremendously.
Healthcare Information Exchange Market - By Setup Type:
Based on setup type, the private HIE segment to dominate the market growth due to the existence of a vast number of service providers and increasing need for quality treatment services are accelerating the demand of the HIE market. Also, growing interest to decrease the cost and offer better service to the patients in both private and public organizations are levelling up the growth rate of the market.
There is a large pool of data present with the private system, and there are fewer rules compared to the public sector. This factor is boosting the growth in the segment. They have collaboration with private hospitals to collect data.
Healthcare Information Exchange Market - By Application:
Based on application, the internal interfacing segment leads the market growth due to the increasing number of patients who are associates through the use of engagement tools in healthcare centres.
The web portal development segment is estimated to grow at the highest CAGR. The increases in the accessibility of the information through the patient web portal is more, and it enables the information of the treatment and provides insight. These factors are boosting the market growth in the segment. The internal interfacing holds the second largest market share in this segment.
Healthcare Information Exchange Market – By Component-based:
Based on the component, the RLS and Clinical Data Repository segment held the largest market share in 2019. Increasing awareness over the availability of various techniques in healthcare centres is propelling the growth of these segments.
Healthcare Information Exchange Market - By End-User:
Based on end-user, the healthcare provider segment accounts for the immense share value in the healthcare information exchange market.
Healthcare Information Exchange Market - By Region:
Regionally, North America is contributing the significant share in global HIE market due to the increasing adoption of EHR, favourable reimbursement policies, and the presence of substantial stakeholders of the worldwide healthcare information exchange market.
Asia Pacific is likely to expand during the forecast period owing to increasing investments by significant healthcare players, increasing adoption of HIE services due to growing awareness among people, increasing initiatives by the governments of emerging economies like India, Japan, and China. Increasing awareness about the healthcare information system is anticipated to fuel the demand for the market in this region. The entry of new key players, government and non-government organizations, are investing more in developing innovative systems in favour of the end-users are accelerating the growth rate of the market in this region.
Europe had prominent growth from a few years and is to continue the same in the coming years.
Key market participants leading the Global Healthcare Information Exchange Market profiled in the report are Aetna Medcity, eClinical Works, RelayHealth, Medecision, Epic Corporation, Inc., Cerner Corporation, Infor Inc., Intersystems, Optum Inc., Alere Wellogic, NextGen Healthcare Information Systems, LLC, Covisint Corporation, Allscripts Healthcare Solutions, Inc. and Orion Health.
RECENT MARKET DEVELOPMENTS
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Direct Exchange
5.1.3 Query Based Exchange
5.1.4 Consumer Mediated Exchange
5.2 Implementation Model
5.2.1 Introduction
5.2.2 Centralized/consolidated models
5.2.3 Decentralized/Federated models
5.2.4 Hybrid Model
5.3 Setup Type
5.3.1 Introduction
5.3.2 Private
5.3.3 Public
5.4 Application
5.4.1 Introduction
5.4.2 Internal Interfacing
5.4.3 Secure messaging
5.4.4 Work flow management
5.4.5 Web portal Development
5.4.6 Patient safety
5.5 Component
5.5.1 Introduction
5.5.2 Enterprise Master Person Index (EMPI)
5.5.3 Healthcare Provider Directory (HPD)
5.5.4 Record Locator Service (RLS)
5.5.5 Clinical Data Repository
5.6 End User
5.6.1 Introduction
5.6.2 Healthcare provider
5.6.3 Public Health Agency
5.6.4 Medical Research Institution
5.6.5 Medical Professional
5.6.6 Patient
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Implementation Model
6.1.3.4 By Setup Type
6.1.3.5 By Application
6.1.3.6 By Component
6.1.3.7 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Implementation Model
6.1.4.4 By Setup Type
6.1.4.5 By Application
6.1.4.6 By Component
6.1.4.7 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Implementation Model
6.1.5.4 By Setup Type
6.1.5.5 By Application
6.1.5.6 By Component
6.1.5.7 By End User
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Aetna Medcity
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Intersystems
8.3 RelayHealth
8.4 Medecision
8.5 Alere Wellogic
8.6 Allscripts Healthcare Solutions Inc.
8.7 RelayHealth Corporation
8.8 Infor Inc.
8.9 Cerner Corporation
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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