Global Healthcare Interoperability Solutions Market Size, Share & Trends Analysis Report, By Type (Software and Services), Interoperability level (Foundational, Structural, and Semantic), Deployment (Cloud-based, On-premise), End-user (Healthcare Provider

Global Healthcare Interoperability Solutions Market Size, Share & Trends Analysis Report, By Type (Software and Services), Interoperability level (Foundational, Structural, and Semantic), Deployment (Cloud-based, On-premise), End-user (Healthcare Providers, Healthcare Payers, Pharmacies), Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2023 – 2030

Global Healthcare Interoperability Solutions Market Size, Share & Trends Analysis Report, By Type (Software and Services), Interoperability level (Foundational, Structural, and Semantic), Deployment (Cloud-based, On-premise), End-user (Healthcare Providers, Healthcare Payers, Pharmacies), Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2023 - 2030

Global healthcare interoperable solutions market was valued US $3,570.12 million in 2022 and is expected to reach US $9,410.05 million by 2030, growing at a CAGR of 12.88% during the forecast period 2023-2030.

Technologies and systems that facilitate the easy sharing and exchange of patient health information between various healthcare organisations and providers are referred to as healthcare interoperability solutions. Enhancing patient outcomes, efficiency, and coordination in healthcare requires these solutions. Healthcare interoperability solutions are essential to building a connected healthcare ecosystem because they improve stakeholder engagement and give healthcare practitioners access to complete patient data at the time of care. The foundation of healthcare software systems in hospitals, ambulatory care facilities, home health agencies, and other healthcare settings is made up of interoperability solutions, which facilitate the smooth operation of various platforms such as laboratory management, HER, patient management, and medical billing, among others. This makes it possible for every department in a hospital setting to operate together with the least amount of paperwork. Few duplications, unambiguous communication, better care coordination, and better results for all parties involved are the outcomes of this.

Patient-centered care places a strong emphasis on the benefit of customising medical treatments to each patient's unique requirements, preferences, and values. Interoperable solutions are essential to this strategy because they facilitate smooth information exchange and coordination between healthcare providers. This leads to a number of important advantages, including shared decision-making, comprehensive patient data access, and a decrease in medical errors. For example, interoperable systems facilitate complete patient data access by giving medical professionals access to a patient's complete medical history, including previous diagnoses, treatments, and prescription history. Personalised treatment strategies are supported by this comprehensive view, which makes it possible to comprehend the patient's health situation more accurately. Interoperable technologies also make it easier for data to be shared between various care locations and providers, guaranteeing that care teams are knowledgeable and able to collaborate effectively, leading to broad care coordination. Additionally, healthcare providers can involve patients in their treatment decisions by having access to real-time patient data. Patients can actively participate in their healthcare journey by reviewing lab results, treatment alternatives, and health information thanks to interoperable technologies.

Last but not least, interoperability solutions can prevent or reduce the risk of medical errors brought on by erroneous or insufficient patient information. This occurs as a result of healthcare providers employing interoperable technologies to access current records, enabling them to make more informed decisions that lower the likelihood of unfavourable outcomes.

Therefore, the need for healthcare interoperable solutions will only increase in the upcoming years as patient-centered care models continue to dominate the healthcare industry and these solutions aid in reaching this objective.

Additional motivators include growing governmental incentives and restrictions, a rise in the need for affordable and practical solutions for better healthcare, and a rise in the use.

“Structural segment, by interoperability level, to be dominating market from 2023 to 2030.”

The structural, semantic, and foundational segments make up the interoperability level.

In 2022, the market for healthcare interoperability solutions was dominated by the structural category. The ability to share and comprehend data between various healthcare systems and apps is a crucial component of interoperability, which is why the structural sector of healthcare interoperable solutions is in high demand. The goal of structural interoperability is to guarantee correct and consistent information sharing between heterogeneous systems by concentrating on the syntax and format of data transmission. Structural interoperability creates the framework for the efficient and successful interchange of healthcare information, which enhances patient care and improves healthcare outcomes. It does this by permitting standardised data formats and smooth communication.

“Cloud based segment, by deployment, to be dominating market from 2023 to 2030.”

The market is split into cloud-based and on-premises deployment categories.

With a 55.11% market share in 2022, the cloud-based category led the market and is expected to maintain its dominant position with a 13.57% compound annual growth rate throughout the forecast period. Because cloud-based solutions offer advantages including cost-effectiveness, flexibility, and the ability to simplify interoperability across many systems and locations, a growing number of healthcare organisations are adopting them.

“Healthcare provider segment, by end user, to be dominating market from 2023 to 2030.”

The healthcare payers, pharmacies, and healthcare providers make up the three end-user segments of the global market for healthcare interoperability solutions. Hospitals, labs, outpatient clinics, long-term care homes, home healthcare agencies, and other institutions can be further subdivided under the category of healthcare providers.

With a 43.53% market share in 2022, the healthcare provider category led the market. By 2030, it is expected to maintain its dominant position and reach a 45.65% market share. Since they constitute the foundation of the healthcare system, healthcare practitioners are in charge of identifying, treating, and overseeing the health of their patients. Through this method, healthcare providers may easily access, share, and exchange vital patient data throughout various healthcare systems and settings thanks to the interoperable technologies.

“North America to be largest region in Healthcare Interoperability Solutions Market.”

The market is segmented into North America, Europe, Asia-Pacific, and Other regions. South America and the Middle East make up the remaining categories.

With a market share of 35.89% in 2022, North America dominated the market because of things like the region's advanced healthcare system and rapid uptake of digital health technologies. Because of this, there is now a larger need for interoperable solutions that can combine different healthcare systems in a smooth manner, guaranteeing effective data interchange and better patient care. With a projected compound annual growth rate (CAGR) of 14.49%, the APAC market is expanding at the quickest rate. The reason for this is the rapid economic expansion and increased investments in the healthcare sectors that many APAC countries are going through. The demand for interoperable solutions grows as healthcare facilities and the use of digital health increase in the area. This will facilitate smooth data sharing and exchange, which will boost the industry.

Healthcare Interoperability Solutions Competitive Landscape

The competitive landscape of the Healthcare Interoperability Solutions Market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Healthcare Interoperability Solutions technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Healthcare Interoperability Solutions Market is highly competitive, with numerous companies vying for market share. Prominent companies in the Healthcare Interoperability Solutions Market include:

Major Players:

Oracle Health (US)

Epic Systems Corporation (US)

InterSystems Corporation (US)

Infor, Inc. (US)

NextGen Healthcare, Inc. (US)

Koninklijke Philips N.V. (Netherlands)

Change Healthcare (US)

Veradigm LLC (US)

Orion Health (US)

Capgemini SE (France)

Cognizant (US)

HCL Technologies Ltd. (India)

Infosys Ltd. (India)

Jitterbit (US)

IBM Corporation (US)

Medical Information Technology, Inc. (US)

iNTERFACEWARE Inc. (Canada)

OSP Labs (US)

ViSolve, Inc. (US)

Virtusa Corporation (US)

Onyx Technology LLC (US)

Consensus Cloud Solutions Inc. (US)

MphRx (US)

Recent Developments:

In May 2023, InterSystems introduced HealthShare® Health Connect CloudTM, an AWS Marketplace offering for high-performance healthcare integration. From small clinics to the biggest and most intricate systems in the world, HealthShare Health Connect Cloud is a scalable solution that meets the demands of healthcare delivery systems of all sizes.

April 2023: Azure OpenAI service integration marks the expansion of Microsoft and Epic's strategic relationship. The goal of this co-innovation is to provide a wide range of generative AI-powered solutions that are connected with Epic's EHR and boost patient care, productivity, and the financial stability of health systems around the world.

In February 2023, Oracle Cloud Infrastructure and Oracle Cerner are chosen by King's College Hospital London - Dubai to offer EMR solutions that will improve patient outcomes.