Global Health Information Exchange (HIE) Market

Health Information Exchange (HIE) Market Size, Share, Growth Analysis, By Application(Web Portal Development, Internal Interfacing), By Implementation module(Centralized, Decentralized), By Solution(Portal-centric, Platform-centric) - Industry Forecast 2024-2031

Report ID: SQMIG35G2105 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 90 | Figures: 76

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Health Information Exchange (HIE) Market size was valued at USD 1.29 billion in 2019 and is poised to grow from USD 1.41 billion in 2023 to USD 3.41 billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024-2031).

Competition in the Health Information Exchange (HIE) market is expected to increase during the forecast period because new players are expected to enter the 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 market but these numbers will increase in the upcoming years. 'Allscripts Healthcare Solutions, Inc.', 'Cerner Corporation', 'eClinicalWorks', 'Epic Systems Corporation', 'GE Healthcare', 'Health Catalyst', 'IBM Corporation', 'InterSystems Corporation', 'Koninklijke Philips N.V.', 'McKesson Corporation', 'MEDITECH', 'NextGen Healthcare, Inc.', 'Optum, Inc.', 'Orion Health', 'Siemens Healthineers', 'Softheon, Inc.', 'Sunquest Information Systems, Inc.', 'Syntellis Performance Solutions', 'The Advisory Board Company', 'ZeOmega Inc.'

The healthcare industry across the globe a seeing a gradual shift away from institution centric frameworks towards the patient centered care delivery due to the increasing penetration of communication technologies in healthcare industries.In contrast to institution centric frameworks, the patient centric care is associated with number of advantages including reduced hospital admission, decreased expenditure and reduced pressure on an already burdened system. Due to these advantages, patients tend to report positive experience, have more trust in their providers and are less likely to switch physicians, allowing for more continuity in care.This major benefits provided by health information exchange tends to increase the market in future.

Due to the rising inflation, the file access to interchange of patient health information, the concept of electronic health information exchange is crucial in improving the quality, speed, safety and most importantly, cost of patient treatment.Electronic health data transmission between clinicians and physicians minimize the need for excessive papers and record handling cost.Moreover, early sharing of patient data enables for better decision making and prevents readmissions and prescription errors and resisting expenditures.

Globally, North America is estimated to hold the highest 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.

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