Healthcare Information Exchange is transmission of healthcare information electronically among healthcare professionals, Healthcare information organisation and Government agencies within a region according to national standards. It allows healthcare providers, patients and other stakeholders to appropriately access and securely share a patientâs information electronically- improving efficiency, quality, safety and cost of patient care.
The Global Healthcare Information Exchange Market is estimated to be valued at USD 0.73 billion in 2016 and is projected to reach USD 1.22 billion by 2021, at a CAGR of 10.94% during the forecast period from 2016 to 2021. The increase in incentives by government, growing patient- centric approach in healthcare delivery, implementation of E- Health Record (EHR) and need to cut healthcare cost, increase efficiency and patient safety are the key drivers of this market. Additionally, need of exchanging healthcare information for better quality service and technological advancements, among others are some of the other drivers of this market.
The technology also has certain constraints to overcome, such as huge initial infrastructural investments, slow return on investment, lack of technical expertise and sufficient knowledge base and the interoperability. Data Integrity and safety is also a key concern. However, the technology has several opportunities as well. The introduction and implementation of Electronic Health Records (EHR), the rising investments in venture capital funds, and the implementation of trends in the medical-IT field presents a significant opportunity for this sector.
In coming years as technology will be widely used and process will become more streamlined then consumers and patient will actively participate in electronic exchange of health data. They will be able to move these data more freely and easily whenever and to whomever they choose. Federal and state authority will work toward greater interoperability.
The tools having capacity to collaborate with other device or tool effectively will be the one to dominate in this market. The cost of data breaches in healthcare is too high and no one can ever be able to bear such cost and hence future research and development will focus on making this technology more secure and consumer friendly.
The global healthcare information exchange market is segmented on the basis of Implementation Model (Centralized/ consolidated models, Decentralized/ federated models, hybrid model), Setup type (Public and Private), Application (Internal interfacing, Secure messaging, Workflow management, Web portal development and others), Type (Direct Exchange, Query- based exchange, consumer mediated exchange), Component (EMPI, HPD, RLS, Clinical data repository and others), End-User (Healthcare provider, Public health agency, Medical research institution, Doctors and private member/ patients), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).
Many players in this market are trying to expand their product portfolio in order to gain the maximum share of this market. Top companies are expanding their growth in this market by acquiring other companies while others are trying to gain market share by expanding their own firm in yet unreached geographical area.
The major market players in this market are Cerner Corporation, Orion Health, Aetna Medcity, Intersystems, Allscript Healthcare solutions, Covisint Corporation, RelayHealth, Medecision, Alere Wellogic etc. The primary stakeholders of this technology are healthcare IT firms, care organizations, health insurance providers, healthcare payers, healthcare providers and venture capitalists.
Key Deliverables in the Study
Market analysis for the Global Healthcare Information Exchange Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global healthcare Information Exchange market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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