Dublin, Aug. 12, 2024 (GLOBE NEWSWIRE) — The report “Healthcare Information Exchange Market Size, Share & Trends by Type (Direct, Query, Consumer), Implementation (Hybrid, Centralized, Federated), Setup (Private, Public), Solution (Portal, Platform), Application (Workflow, Messaging), End User, & Region – Global Forecast to 2029″ has been added to The Offer.

The global healthcare information exchange market is expected to grow from $1.7 billion in 2024 to $2.8 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.2% between 2024 and 2029.

This report studies the Healthcare Information Exchange market by type, facility type, implementation model, solution, component, application, end user, and region. The report also analyzes factors (such as drivers, opportunities, and challenges) influencing the market growth. It evaluates market opportunities and challenges for the stakeholders and provides details of the competitive landscape for market leaders.

The report also examines micro markets with respect to their growth trends, prospects, and contributions to the overall healthcare information exchange market. The report forecasts the revenue of the market segments with respect to five broad regions.

Market drivers and challenges

The growth of the market is driven by the seamless and secure exchange of patient health information across the healthcare ecosystem. As healthcare becomes increasingly fragmented and patients are cared for by multiple providers and in different facilities, there is a growing need to ensure coordination and continuity of care.

In addition, regulatory mandates and government initiatives to promote interoperability and data sharing have driven the adoption of HIE solutions. Programs such as the Medicare Access and CHIP Reauthorization Act (MACRA) and the Promoting Interoperability Program (formerly known as Meaningful Use) provide incentives for healthcare organizations to adopt certified electronic health record (EHR) systems with HIE capabilities. However, the lack of standardized data formats, incompatible systems, and differing regulatory requirements across jurisdictions present a significant challenge in this market.

Health Information Exchange, the portal-centric HIE solution segment, will witness the highest growth during the forecast period

Based on solution, the healthcare information exchange market is segmented into portal-centric solutions, messaging-centric solutions, and platform-centric solutions. The portal-centric solutions segment accounted for the largest market share in 2023. The portal-centric solutions segment will witness the highest growth during the forecast period. A major factor contributing to the growth of this segment is its user-friendly approach and ability to provide seamless access to patient health information.

For example, in September 2023, Epic Systems Corporation, a leading electronic health record (EHR) provider, introduced its new MyChart Bedside portal, which enables patients to access their health records and communicate with care teams directly from their bedside. This innovative portal-centric solution not only enables patients to take a more active role in their healthcare but also streamlines communication and information sharing between patients and providers, ultimately improving care coordination and patient satisfaction. In addition, the portal-centric segment of the HIE market has experienced significant growth due to the increasing adoption of telemedicine and remote patient monitoring technologies, particularly in response to the COVID-19 pandemic. Healthcare organizations have leveraged portal-centric HIE solutions to enable virtual visits, share diagnostic test results, and remotely monitor patient progress.

The web portal development segment held the largest market share in the health information exchange market

Based on application, the healthcare information exchange market is segmented into web portal development, workflow management, secure messaging, internal interfaces, and others. The web portal development segment accounted for the largest market share in 2023 as it enables both healthcare providers and patients to access patient health information seamlessly.

Web portals serve as centralized platforms where users can securely view, share, and manage their health records, diagnostic reports, medication histories, and other relevant clinical data. A key reason for the dominance of the web portal development segment is its widespread adoption across healthcare organizations of all sizes and specialties. Providers rely on web portals to access patient information from multiple sources, including electronic health record (EHR) systems, laboratory databases, and imaging repositories, streamlining workflows and improving care coordination.

The healthcare provider segment will witness the highest growth in the health information exchange market during the forecast period

Based on end user, the health information exchange solutions market is segmented into healthcare providers, healthcare payers, and pharmacies. In 2023, the healthcare providers segment accounted for the largest share among end users as they play a pivotal role in healthcare delivery and patient health data management. Recent cases highlight the increasing focus of U.S. healthcare providers on adopting HIE solutions to improve care coordination, improve patient outcomes, and meet regulatory requirements. For example, in June 2023, Mayo Clinic, a renowned healthcare provider, announced its partnership with Microsoft to deploy the Azure Health Data Services platform and leverage HIE capabilities to streamline data sharing across its network of hospitals and clinics. This initiative underscores the growing recognition among healthcare providers of the value of HIE to facilitate seamless information sharing and interoperability between disparate systems.

APAC is expected to record the highest CAGR during the forecast period

This report segments the healthcare information exchange market into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The healthcare information exchange market in Asia Pacific is expected to register the highest CAGR rate during the forecast period. The growth of this region can be attributed to the rapidly evolving healthcare landscape in the Asia Pacific region, which is characterized by increasing digitalization, urbanization, and healthcare spending. As healthcare systems modernize and expand to meet the needs of growing populations, there is increasing recognition of the importance of interoperability and data exchange for improved care coordination, improved patient outcomes, and increased healthcare efficiency.

Furthermore, government initiatives and regulatory reforms designed to promote health IT adoption and interoperability are driving the growth of the HIE market in the Asia Pacific region. Countries such as China, Japan, South Korea, and Australia have launched national health IT initiatives and interoperability frameworks to facilitate the exchange of electronic health records (EHRs) and health information among healthcare providers. For example, China’s Healthy China 2030 initiative and Australia’s My Health Record program are driving investments in HIE infrastructure and technology to support integrated healthcare delivery and population health management.

List of companies profiled in the report

• Epic Systems Corporation. (USA)
• Oracle (US)
• InterSystems Corporation (USA)
• Veradigm LLC (USA)
• Medical Information Technology, Inc. (USA)
• HEALTH CATALYST, INC. (USA)
• Chetu Inc. (USA)
• Meditab (USA)
• Siemens Healthineers (Germany)
• Deloitte (UK)
• Dreamsoft4u (USA)
• NCrypted Technologies. (India)
• Glorium Technologies. (USA)
• Daffodil Unthinkable Software Corporation (USA)
• eClinicalWorks (USA)
• NXGN Management, LLC. (USA)
• Orion Health (New Zealand)
• Kellton (India)
• Telstra Health (Australia)
• CGI Inc. (Canada)
• Excelicare (USA)
• Octal IT Solution. (USA)
• Andersen (Poland)
• SISGAIN (India)
• Cleverdev Software (USA)
• OSP Labs (USA)

Important features

For more information about this report visit https://www.researchandmarkets.com/r/c3305y

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• Global Healthcare Information Exchange Market