The health information exchange market in Latin America is predicted to grow from USD 155.12 million in 2022 to USD 250.38 Million by 2027. It is estimated to grow at a CAGR of 10.05% during the forecast period.
The healthcare industry is undergoing a significant conversion due to the challenge of offering more cost-effective personalized care. The drive towards expected outcomes and superior quality of care leads to the convergence of information technologies. As a result, Healthcare IT systems are rising as powerful tools to generate and maintain electronic health records (EHRs) for the workflow of the entire healthcare organization.
The majority of the demand for healthcare IT solutions is driven by the growing need to reduce healthcare costs while adhering to the regulatory requirements set by government organizations for ensuring the safety, security, and confidentiality of patient information. In addition, the growing adoption of health information exchanges (HIEs) and EHR systems and improved quality of care and clinical outcomes are other factors driving the growth of the Latin American Health Information Exchange Market.
This research report has been segmented and sub-segmented into the following categories:
By Implementation model:
By Setup Type:
Regionally, Mexico is dominating the market and is expected to continue its dominance over the forecast period. According to Global Health Intelligence data, some trends are changing the Latin American Health Information Exchange Market. The rapid adoption of electronic medical records, technological innovations, and telemedicine is a significant factors in the market's growth. Also, they have expected progress in sustainable healthcare services. In Brazil, the government is spending more on healthcare programs, which will drive the future growth of the Health Information Exchange Market. As per the health providers in Latin America, the aging population, obesity, and lack of efficiency in adopting new technologies will be challenging for them. Healthcare information software is handy in keeping records of the increasing number of chronic and diabetic patients in the coming years. These factors will drive growth in the future.
Mexico also set its mark. The increasing patient count is expected to drive the Health Information Exchange Market. Also, people are taking advantage of these services provided by the hospitals and their physicians. Smaller markets like Peru, Guatemala, Chile, and Costa Rica are also expected to become essential players in the Latin American health information exchange market.
KEY MARKET PLAYERS:
Notable companies operating in the LATAM 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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