Healthcare Interoperability Solutions market COVID-19 Impact, Trends & BusinessPosted by Mrudula Karmarkar on December 23rd, 2021 The global healthcare interoperability solutions market size is expected to reach USD 4.7 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 13.0% during the forecast period. Rising focus on patient-centric care, increasing need to curb high healthcare cost, and growing government initiatives to enhance patient safety & care are some major factors driving market growth. Rising healthcare IT penetration, especially in developing economies, is further expected to create significant growth opportunities for market players. However, rising complexity due to lack of reliable data & trained professionals and increasing data privacy & safety concerns are some key factors expected to impede growth. Healthcare organizations are adopting Electronic Health Record (EHR) systems that support integration between different technologies/systems, increasing the need for interoperability solutions across all healthcare settings. Interoperability solutions help share and access complex data. These solutions allow sharing, exchange, and reuse of data across different devices and applications, which help reduce overall healthcare expenditure. However, to make the best use of interoperability solutions and for their effective implementation, healthcare organizations need to work holistically at data sharing & implementing strategies, spanning the complete patient care continuum. Collaboration among players is expected to be one of the key factors responsible for driving the market. Interoperability solutions are widely employed in various healthcare facilities such as hospitals. For instance, e-prescribing interoperability solution allows providers of ambulatory healthcare services to electronically send prescriptions to drug stores. According to a survey by SureScripts, in 2017, more than 70% of hospitals used electronic prescriptions in the U.S. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/5959/ibb Furthermore, interoperability is also expected to reduce the overall cost associated with delayed diagnosis and treatment by providing on-time access to data. However, the increase in complexity due to lack of reliable data and privacy concerns are few other key factors expected to impede adoption of interoperability solutions in short term over the forecast period. Healthcare Interoperability Solutions Market Report Highlights
The future of healthcare is dependent on sharing data along the value chain and integration of all medical devices. Currently, healthcare has a curative care model that needs to be converted into a purely preventive care model, using data-driven technology. Upgrading systems to adopt latest technology and improving security is the best way for healthcare systems to improve experience of patients. System interoperability is anticipated to improve the overall healthcare landscape in the coming years. For instance, according to National Health Information Exchange (NIIE) and Interoperability Landscape report, in 2016, almost 80% of the healthcare providers reported that the Electronic Data Exchanges (EDE) increased efficiency, while over 89% reported that the quality of patient care improved on using these systems. Some major players are Allscripts Healthcare Solutions; Epic Systems Corporation; Cerner Corporation, Inc.; Infor, Inc.; Koninklijke Philips NV; Orion Health Group Limited; Quality Systems, Inc.; OSP Labs; ViSolve, Inc.; InterSystems Corporation; iNTERFACEWARE; and Jitterbit. Grand View Research has segmented the global healthcare interoperability solutions market on the basis of the type, deployment, level, application, end use: Healthcare Interoperability Solutions Type Outlook (Revenue, USD Million, 2014 - 2026)
o EHR Interoperability o HIE Interoperability o Enterprise Interoperability o Others
Healthcare Interoperability Solutions Level Outlook (Revenue, USD Million, 2014 - 2026)
Healthcare Interoperability Solutions Deployment Outlook (Revenue, USD Million, 2014 - 2026)
Healthcare Interoperability Solutions Application Outlook (Revenue, USD Million, 2014 - 2026)
Healthcare Interoperability Solutions End-use Outlook (Revenue, USD Million, 2014 - 2026)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com
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