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(Health-NewsWire.Net, June 18, 2020 ) The report "Healthcare Interoperability Solutions Market by Type (EHR Interoperability, Health Information Exchange, Enterprise), Interoperability Levels (Foundational, Structural, Semantics), End User and Region - Global Forecast to 2024", The healthcare interoperability solutions market is expected to reach USD 4.2 billion by 2024 from an estimated USD 2.3 billion in 2019, at a CAGR of 12.6%. The major factors driving the growth of this market include the growing need to curb increasing healthcare costs and a growing focus on patient-centric care delivery. Moreover, government initiatives for enhancing patient care & safety and government funding for healthcare interoperability are also boosting market growth.
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By type, the services segment is expected to account for the largest share of the healthcare interoperability solutions market
Based on type, the healthcare interoperability solutions market is segmented into software and services. The services segment is estimated to account for the largest market share in 2019. The large share of this segment can be attributed to the shifting era towards cloud computing and reduced operational costs for better and faster performance of business processes and applications. This segment includes integration and application management services, support & maintenance services, implementation services, and training and education services.
By software type, the HIE interoperability solutions segment is expected to grow at the highest CAGR during the forecast period
Based on software type, the healthcare interoperability solutions market is segmented into EHR interoperability solutions, lab system interoperability solutions, imaging system interoperability solutions, HIE interoperability solutions, enterprise interoperability solutions, and other interoperability solutions. The HIE interoperability solutions segment is expected to grow at the highest CAGR during the forecast period. The growth in this segment can be attributed to factors such as the need for greater access to patient health information and the growing adoption of healthcare IT solutions to enhance patient satisfaction and improve quality care.
North America to dominate the healthcare interoperability solutions market during the forecast period
North America is expected to account for the largest share of the healthcare interoperability solutions market in 2019, followed by Europe. The dominance of the North American region can be attributed to the rising demand for quality healthcare delivery, a need to curb increasing healthcare expenditure, and the implementation of favorable initiatives & regulations to improve the overall efficiency of healthcare organizations in the region.
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The prominent players in the healthcare interoperability solutions market are Cerner Corporation (US), Infor, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), Koninklijke Philips NV (Netherlands), InterSystems Corporation (US), Orion Health Group Limited (New Zealand), iNTERFACEWARE (Canada), Quality Systems, Inc. (US), OSP Labs (US), Epic Systems Corporation (US), ViSolve, Inc. (US), and Jitterbit (US).
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