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North America Healthcare Information Exchange Market Research Report – Segmented By Type, Implementation Model, Application, Component, Country (US, Canada and Rest of North America) - Industry Analysis on Size, Share, Growth, Trends, Forecast | 2022 to 2027

Published: January, 2022
ID: 1587
Pages: 145
Formats: report pdf report excel report power bi report ppt

North America HIE Market Size (2022 to 2027)

The size of the Healthcare Information Exchange Market in North America is estimated to grow USD 630.63 million by 2027 from USD 420.36 million in 2022, showcasing a CAGR of 8.45% during the forecast period. The North America Healthcare Information Exchange market has matured and a number of vendors are beginning to stand out.

North America is having the largest healthcare information exchange market share in all regions. Governments of North American countries are supporting the facilities by giving funds. These services ratify the reduced usage of paper and continuing electronic devices to store the data or records of the patient's history. The software is available in every aspect. It permits data to be replaced between the clinician, pharmacy, hospitals, lab technician, and patients. The rise in income across North American countries is a major driving aspect for the growth of the market.

Health information exchange (HIE) involves the sharing of health-related information electronically among healthcare stakeholders. The information must be shared between non-owned facilities, meaning the organizations are part of separate organizations.

MARKET DYNAMICS

The increased awareness of medical information exchange technology and the need for cooperation among stakeholders are the key growth drivers for the North American health information exchange market. Also, the increase in U.S. government incentive programs and the high costs associated with current medical information exchange systems are other predictable factors driving the development of the medical information exchange industry. It has been noted that 80% of providers report that electronic data exchange improves patient efficiency. Also, support from government and non-government institutions through investments is fueling the growth of the healthcare information exchange market. Increased investment in building government data exchange infrastructures is additionally levelling up the demand of the market.

The privacy concern issues and huge initial infrastructure investments are hindering North America Healthcare Information Exchange Market growth.

The ability to integrate with a variety of hospital, laboratory and clinic operating systems is bolstering the growth rate of the market. The health information exchange system can be integrated with revenue cycle management and core management. Advanced technologies can pose a threat to the health information exchange market and the adoption of the HIE system is expected to increase soon which is to present growth opportunities for the market. Increasing demand for large volumes of medical data collection, storage, and secure exchange is also to lavish the growth rate of the market. 

The improvement of technology in optimum cost and the low return on investment (ROI) are major challenges in the North America Healthcare Information Exchange Market.

This research report has been segmented and sub-segmented into the following categories:

  • By Type: Direct Exchange, Query Based Exchange and Consumer Mediated Exchange
  • By Implementation Model: Centralized/consolidated models, Decentralized/Federated models and Hybrid Model
  • By Setup Type: Private and Public
  • By Application: Internal Interfacing, Secure messaging, Workflow management, Web portal Development and Patient safety
  • By Component: Enterprise Master Person Index (EMPI), Healthcare Provider Directory (HPD), Record Locator Service (RLS) and Clinical Data Repository)
  • By  Country: The United States, Canada and Rest of North America

Regionally, USA is dominating the healthcare information exchange followed by Canada.

The U.S. Healthcare Information Exchange Market

In the U.S, hospitals are using this software and technology to keep the fast access to the wealth of the clinical data. They have found these techniques very cost-saving. There are many possible things like the options available for the providers in the software also the mechanism. But sometimes the technological issues in the system create challenges to the users, which lacks the clear goal of the market. This may be the threat of the healthcare information exchange market. These help the physicians to keep the medical data of patients.

Canada Healthcare Information Exchange Market

Canada is using interoperable electronic health record metric. It can access by two or more domains, e.g., digital imaging, laboratories and the drug information system. These tools are very valuable; they can keep nearly 2300 clinicians and their patient's records and profiles. The physicians say that the software is very helpful for them that they can have all the necessary data about their patients to be available in need. These factors are boosting the regional healthcare information exchange market growth.

The major market players in the North American Healthcare 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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