BANGALORE, India, May 31, 2022 /PRNewswire/ — The Global Healthcare Interoperability Solutions market is segmented by Type (EHR Interoperability, Health Information Exchange, Enterprise) and Application (Hospitals, Medical Centers, Free-standing Reference Laboratories, Home health Agencies) : : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Health Category.
The Global Healthcare Interoperability Solutions market size is projected to reach USD 3440.1 million by 2028, from US$ 1925.7 million in 2021, at a CAGR of 8.2% during 2022-2028.
Major factors driving the growth of the Healthcare Interoperability Solutions market
The healthcare interoperability solutions market is predicted to develop due to the rising demand for patient-centered, value-driven care that improves health outcomes while lowering costs. Healthcare interoperability also smoothens communication between different entities.
TRENDS INFLUENCING THE GROWTH OF THE HEALTHCARE INTEROPERABILITY SOLUTION MARKET
By sharing crucial health data among hospitals, payers, labs, vendors, and public health registries, healthcare interoperability can boost productivity while lowering costs and errors. This not only improves the lives of medical professionals and staff in the healthcare system but also improves the patient experience. Interoperability in healthcare is critical for smooth communication between clinicians, patients, and their families. This factor is expected to drive the growth of the Healthcare Interoperability Solutions market.
When interoperability solutions are scaled across a health system, patient outcomes are positively impacted, care delivery is streamlined and financial performance is amplified. This factor is expected to further drive the growth of the interoperability solutions market.
Interoperability in healthcare reduces paperwork for employees and eliminates the need for human data entry. By facilitating seamless health data exchange, interoperability solutions are seamlessly taking over labor-intensive tasks backlogged in EHR inboxes, reducing the number of tasks that require manual touches, reducing redundant testing, and eliminating the burden placed on physicians by providers and payers. Additionally, doctors using real-time patient data have a more holistic perspective of patients, may minimize medical errors, participate in, and conduct seamless care partnerships, and more. In essence, healthcare interoperability allows health institutions to build the technology infrastructure needed to maximize the value of their EHR data and provide more comprehensive care.
Compliance is an important driving factor for healthcare interoperability market growth. Hospitals are balancing the need for patient health data to be available with the requirement to protect patient privacy as the number of cybersecurity assaults on healthcare institutions rises.
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HEALTHCARE INTEROPERABILITY SOLUTION MARKET SHARE ANALYSIS
Based on application, the Hospital segment is expected to be the most lucrative. This can be attributed to supportive government policies.
During the forecast period, Asia Pacific is expected to increase at a faster rate. Major reasons driving growth in this region include expanding medical tourism, rising demand for better healthcare, and rising government expenditure on healthcare facilities. Furthermore, in densely populated nations like India and China, a huge patient pool creates a large volume of patient data each year, necessitating effective data sharing between pharmacies and hospitals.
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- Allscripts Healthcare
- Koninklijke Philips
- Orion Health Group
- Quality Systems
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