The Global Interoperability Solutions in Healthcare Market is estimated to gain a valuation of USD 5.29 billion by 2027, expanding at a CAGR of 11.1%, according to the current report by Emergen Research. The augmenting focus on increasing the safety of patients, the increasing need to reduce healthcare expenditure, and policy changes to augment patient care quality are significant factors influencing the market growth. Systems interoperability, access to data, and information sharing play a pivotal role in enhancing patient outcomes. The accessibility of individual health information across the healthcare sector enables a systematic, safe, and superior-quality care that backs transparency efforts, payment reforms, and the ability of patients to manage their health.
Moreover, the benefits of interoperability software for healthcare information is anticipated to boost market expansion over the estimated years. However, for proper usage and successful integration of interoperability software, healthcare organizations are working extensively on data sharing and implementation strategies. The application of EHR software in both developing and developed nations is influencing the growth of the industry further. However, lack of awareness regarding the interoperability software in underdeveloped regions may restrain the market growth over the period.
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There is an increased demand for interoperability in the North American region due to policies about applying EHR in data interoperability. Moreover, the growing hospital chain and increasing expenditure on policies to digitize healthcare for safe and reliable sharing of data across various healthcare disciplines are adding to the market expansion.
Top Companies in Interoperability Solutions in Healthcare Market are:
Orion Health Group Limited, Cerner Corporation Inc., InterSystems Corporation, Allscripts Healthcare Solutions, ViSolve Inc., Koninklijke Philips NV, iNTERFACEWARE, Quality Systems Inc., Infor Inc., and Epic Systems Corporation, among others.
Interoperability Solutions in Healthcare Market Drivers During Forecast Period:
By Level Outlook Segment:
Based on level, the semantics sub-segment contributed significantly to the market revenue, with a contribution of USD 0.66 billion in 2019 and is projected to register a CAGR of 9.9% in the estimated timeframe. The growth can be accredited to the ability of the level to facilitate the transfer of medical data online between different groups and clinicians across incompatible EHRs and other programs to augment the capacity of healthcare delivery, protection, effectiveness, and consistency.
By Solution Segment:
The solutions sub-segment is predicted to expand with a CAGR of 10.6% in the estimated timeframe attributable to the soaring requirement for more disclosure about patient health and rising incorporation of healthcare IT solutions to enhance the treatment quality and patient satisfaction.
By Application Segment:
The diagnostics application is a major factor in driving the market growth. The segment exhibited lucrative growth in the North American market accounting for 43.1% of the industry’s share in 2019. This can be accredited to the need for efficient knowledge for diagnosis allowing accurate assessments and evaluations by the healthcare providers.
By Regional Segment:
North America accounted for a substantial share of the industry in 2019, occupying 35.1% of the industry share. This can be accredited to the increasing incidences of cancers and increasing R&D activities for the development of innovative interoperability solutions, coupled with increasing financial support from the government. The Asia Pacific followed North America, accounting for an industry share of 31.2% in 2019.
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For the purpose of this report, Emergen Research has segmented the Global Interoperability Solutions in Healthcare Market on the basis of level, product type, application, and region:
Level Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Product Type Outlook (Volume, Kilotons; Revenue, USD Billion; 2017-2027)
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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Interoperability Solutions in Healthcare Market Size Worth USD 5.29 Billion By 2027 | CAGR of 11.1%
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