USD 1.29 billion
Report ID:
SQMIG35G2105 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
90
|Figures:
76
Global Health Information Exchange Market size was valued at USD 1.5 billion in 2022 and is poised to grow from USD 1.6 billion in 2023 to USD 3.3 billion by 2031, growing at a CAGR of 9.5% during the forecast period (2024-2031).
Health Information Exchange (HIE) is becoming popular since It has many benefits.The various applications of health information exchange includes providing vehicles for improving quality and safety of patient care by reducing medication and medical errors.
Increases efficiency by eliminating unnecessary paperworks,Provide caregivers with clinical decision support tools for more effective care and treatment,It eliminates redundant or unnecessary testing, improves public health reporting and monitoring.Moreover, it creates a potential look for feedback between health related research and actual practice, facilitates efficient deployment for emerging technology and healthcare services, provides the backbone of technical infrastructure for leverage by national and state level initiatives and It serves as a basic level of interoperability among electronic health records and maintained by individual physicians and organization and most importantly, reduces the health related costs.
US Health Information Exchange Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.29 billion
Largest Segment
web portal development
Fastest Growth
web portal development
Growth Rate
9.7% CAGR
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Global Health Information Exchange (HIE) Market is segmented based on various criteria, including Exchange Type, Set Up Type, Implementation Model, End User, and region. By Exchange Type, the market is categorized into Directed Exchange, Query-Based Exchange, and Consumer-Mediated Exchange. Based on Set Up Type, the market is divided into Private Health Information Exchanges (HIE) and Public Health Information Exchanges (HIE). In terms of Implementation Model, the market is classified into Hybrid Models, Centralized Models, and Decentralized Models. The End User segment includes Healthcare Providers, Healthcare Payers, and Pharmacies. Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Health Information Exchange Market Analysis by Application
By application, the global market is divided into many segments such as Web Portal Development, Internal Interfacing, Workflow Management and others. Web Portal Development segment held the largest global Health Information Exchange (HIE) market share due to the wide range of benefits provided by Health Information Exchange (HIE) in it.Yes. Due to increased accessibility of patient health data which is accessible through patient portals, most of the healthcare systems and patients are using EIH in web portal development.Many healthcare solutions across the globe animals the patient to access and interact with the providers and gain valuable insights about their health conditions.Internal interfacing is expected to grow with highest CAGR owing to its ability to collect maximum patient information.
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Globally, North America is estimated to hold the highest global Health Information Exchange (HIE) market share in 2021. Main factors during this growth period are the presence of top market players,growing government's initiative, increasing demand for EIH and others.
Above all, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of Health Information Exchange (HIE) technology in the region of Asia Pacific and mainly in China and Japan. In addition, various service providers are investing heavily in order to provide high speed internet services at an affordable price to the consumers, which is likely to boost the demand for Health Information Exchange (HIE) in the region.
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Health Information Exchange Market Drivers
Patient Centric Card Delivery to Bolster Market Growth
Health Information Exchange Market Restraints
Outdated Legacy to Hinder Market Growth
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Competition in the global Health Information Exchange (HIE) market is expected to increase during the forecast period because new players are expected to enter the global market and the number of services compatible with Health Information Exchange (HIE) will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Health Information Exchange Market Top Player’s Company Profiles
Health Information Exchange Market Recent Developments
Through this new affiliation, the organizations will build on HEALTHeLINK’s HIE infrastructure that supports the electronic exchange of clinical information among providers
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Health Information Exchange (HIE) market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it Increases efficiency by eliminating unnecessary paperworks,Provide caregivers with clinical decision support tools for more effective care and treatment,It eliminates redundant or unnecessary testing, improves public health reporting and monitoring. Health Information Exchange (HIE) s will enable services to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.5 billion |
Market size value in 2031 | USD 3.3 billion |
Growth Rate | 9.5% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Health Information Exchange (HIE) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Health Information Exchange (HIE) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Health Information Exchange (HIE) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Health Information Exchange (HIE) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35G2105
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