Global Healthcare Interoperability Solutions Business

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Dublin, April 22, 2024 (GLOBE NEWSWIRE) — The “Healthcare Interoperability Solutions – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

Global Healthcare Interoperability Solutions Market to Reach $8.3 Billion by 2030

The global market for Healthcare Interoperability Solutions estimated at US$3.3 Billion in the year 2023, is projected to reach a revised size of US$8.3 Billion by 2030, growing at a CAGR of 12.1% over the analysis period 2023-2030.

In 2023, the healthcare interoperability solutions market witnesses a competitive landscape, with players globally categorized based on their market presence as strong, active, niche, or trivial. The sector experiences a surge in new product launches and portfolio expansions as strategies to maintain competitiveness.

The report provides a comprehensive overview of healthcare interoperability solutions, emphasizing the merits and pressing need for such solutions in the healthcare industry. With the global market projected to exhibit robust health, factors driving this growth include the increasing demand for seamless data exchange and integration across healthcare systems.

Healthcare Interoperability Services, one of the segments analyzed in the report, is projected to record 12.8% CAGR and reach US$5.5 Billion by the end of the analysis period. Growth in the Software segment is estimated at 10.7% CAGR for the next 8-year period.

Leading healthcare interoperability solutions are highlighted, with services emerging as the dominant segment. Diagnosis is identified as the primary application category, with hospitals constituting the primary end-use segment.

The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 17.1% CAGR

North America emerges as a key player in the healthcare interoperability solutions market, holding a majority stake. Despite the market’s growth prospects, bottlenecks impede broader adoption, posing challenges to the sector’s expansion.

The Healthcare Interoperability Solutions market in the U.S. is estimated at US$1.7 Billion in the year 2023. China, the world’s second largest economy, is forecast to reach a projected market size of US$651.3 Million by the year 2030 trailing a CAGR of 17.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.3% and 11% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR.

Recent market activity within the healthcare interoperability solutions sector is analyzed, reflecting the dynamic nature of the industry and recent trends shaping its trajectory. As companies strive to innovate and address evolving healthcare needs, new product launches and portfolio expansions remain pivotal strategies to stay competitive in this rapidly evolving market landscape.

Key Attributes:

Report Attribute Details
No. of Pages 648
Forecast Period 2023 – 2030
Estimated Market Value (USD) in 2023 $3.3 Billion
Forecasted Market Value (USD) by 2030 $8.3 Billion
Compound Annual Growth Rate 12.1%
Regions Covered Global

MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Competition
  • New Product Launch & Portfolio Expansion: Strategies to Stay Competitive in Healthcare Interoperability Solutions Market
  • Healthcare Interoperability Solutions – Global Key Competitors Percentage Market Share in 2023 (E)
  • A Prelude to Healthcare Interoperability Solutions
  • Merits of Healthcare Interoperability
  • Pressing Need for Healthcare Interoperability
  • Global Market Overview and Prospects
  • Global Healthcare Interoperability Solutions Market to Glimmer with Robust Health
  • Drivers Pushing Healthcare Interoperability Market
  • Select Leading Healthcare Interoperability Solutions
  • Services Segment Claims Dominating Share
  • Diagnosis Dominates Applications Category
  • Hospitals Remain Primary End-Use Segment
  • North America Sways Healthcare Interoperability Solutions Market with Majority Stake
  • Bottlenecks Impeding Broader Uptake of Healthcare Interoperability
  • Recent Market Activity
  • Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)

MARKET TRENDS AND DRIVERS

  • Salient Factors with Pivotal Role in Shift towards Healthcare Interoperability
  • Focus on Patient-Centered Care Delivery Highlights the Growing Need for Interoperability
  • Sharp Rise in Clinical Data Volume and Streamlining Imaging Workflow Present Lucrative Growth Opportunities
  • Growing Patient Volume, Data Privacy Concerns and Need for Accuracy in Data Management Drive Market Demand
  • Increasing Complexity of Healthcare Operations to Spur Demand for Healthcare Interoperability Solutions
  • Global Spending on Healthcare IT (In US$ Billion) for Years 2018, 2020, 2022 and 2024
  • Large Installation Base of EHR Systems Drives the Need for EHR Interoperability
  • Factors Triggering Adoption of EHR
  • Rise in Integration of Disruptive Technologies in EHR
  • EHR Interoperability and Associated Issues
  • Digitalization of Healthcare and Technological Advancements
  • Shift towards Digital Framework
  • Role of AI & NLP Protocols
  • Big Data
  • HL7-FHIR
  • APIs
  • Digital Health Investments Record Strong Growth
  • US Digital Health Funding in US$ Billion: 2011-2021
  • Number of Mega Deals (US$ 100 Million +) in Digital Health Space: 2018-2021
  • Healthcare System’s Expedited Shift towards Telemedicine Spurs Opportunity for Healthcare Interoperability Solutions
  • Global Number of Telemedicine Patients (In Million) for the Years 2016, 2018, 2020, 2023 & 2025
  • Global Telemedicine Market in US$ Billion: 2018, 2020, 2022 & 2024
  • Number of Telemedicine Users in the US (In Million): 2019 – 2023
  • The Move to Cloud Gains Momentum
  • Cloud-based EHR Systems
  • Rise in Funding to Drive Market Expansion
  • Increasing Usage of Smart Devices Augments the Need for Data Interoperability
  • Increasing Deployment of Smart Devices Across Healthcare Augments the Need for Data Interoperability
  • IoMT: The New Healthcare ‘Tech’ Evolution
  • Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
  • Number of Connected Medical Devices in Million: 2018-2025
  • Healthcare IT Market Enjoys Striking Leap Forward with Increasing Influx of IoT
  • Big Data Analytics Playing a Pivotal Role in Healthcare
  • Global Healthcare Data Generated: 2014, 2020, and 2025 (in exabytes)
  • Rising Need to Reduce Healthcare Costs to Propel Demand for Healthcare Interoperability Solutions
  • Use of EHRs and HIEs to Cut Down Healthcare Costs
  • ECDOH’s Approach
  • Current & Required Healthcare Spending as % of GDP
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Interoperability Challenges and Solutions
  • The Route to Improving Healthcare Interoperability
  • Transitioning to Advanced Data Infrastructures
  • Enforcing New Industry Standards
  • Supporting and Updating Systems
  • Provider Awareness & Education
  • Affordable Interfaces
  • Strict Security & Privacy Policies
  • Terminology & Messaging Standards
  • Regulations for Interoperability Standards Drive Market Growth
  • Information Blocking Final Rule
  • Interoperability and Patient Access Final Rule (CMS-9115-F)
  • Interoperability and Prior Authorization Final Rule (CMS-9123-F)
  • US Updates Regulatory Regime with New Rules
  • Interoperability Emerges as Holy Grail to Care-at-Home Continuum
  • Reliance of Clinical Decisions on Interoperability
  • Flexible Platforms for Scalability & Value
  • Deep Interoperability Gains Momentum
  • Ongoing Shift Towards Smart Hospitals Widens Market Prospects

FOCUS ON SELECT PLAYERS(Total 110 Featured)

  • Amazon Web Services, Inc.
  • Athenahealth, Inc.
  • Allscripts Healthcare Solutions, Inc.
  • CareCloud, Inc.
  • Chetu, Inc.
  • CitiusTech, Inc.
  • Cognizant Trizetto Healthcare Products
  • Bizmatics, Inc. (PrognoCIS)
  • Cybage Software Pvt. Ltd.
  • Change Healthcare
  • Binariks
  • CareEvolution
  • AZZLY
  • Blueehr
  • Acetiam

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