Health information exchange (HIE) involves the sharing of health-related information electronically among healthcare stakeholders. It enables collaboration between healthcare stakeholders, reduces administrative tasks, and provides greater transparency in the healthcare field, thus enhancing the quality, safety, and efficiency of healthcare delivery.
The health information exchange market is expected to reach USD 1,545.0 million by 2020 from USD 990.6 million in 2015, at a CAGR of 9.3%. Factors such as federal mandates like Meaningful Use, growing patient-centric approach in healthcare delivery, increasing EHR adoption rate, and reduction in healthcare costs are driving the health information exchange market. However, data security & privacy concerns and requirement of infrastructural investments to support health information exchange are restraining the growth of this market, to a certain extent.
North America accounted for the largest share of the global health information exchange market in 2015, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American market is attributed to mandates like Meaningful Use, increasing number of accountable care organizations and increasing adoption of HIE in hospitals. Canada’s efforts to enhance healthcare delivery, and digital health measures in Canada.
Major players in the market are focusing on various strategies such as product deployments; agreements, alliances, collaborations, and partnerships; new product launches (including product enhancements and product integration); acquisitions; expansions; and other strategies (divestment, accreditation, funding, and spin-off), to establish a strong foothold in the global health information exchange market..
Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Relay Health Corporation (U.S.), eClinical Works (U.S.), Covisint Corporation (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Infor, Inc. (U.S.), Optum, Inc. (U.S.), Medicity, Inc. (U.S.), Epic Corporation Inc. (U.S.), and Orion Health (New Zealand) are some of the key players in the global health information exchange market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps firms to garner a greater market, share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the solutions offered by the top players in the health information exchange market. The report analyzes the health information exchange market, by type, setup type, solution, implementation model, application, and end user
- Product Development/Innovation: Detailed insights on research and development activities and new product launches in the health information exchange market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for health information exchange across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the health information exchange market
- Competitive Assessment: In-depth assessment of strategies, products, and distribution networks of the leading players in the health information exchange market