Healthcare Information Exchange - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Healthcare Information Exchange - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Healthcare Information Exchange Market size is estimated at USD 1.97 billion in 2024, and is expected to reach USD 3.44 billion by 2029, growing at a CAGR of 11.80% during the forecast period (2024-2029).

Healthcare information exchange market is primarily driven by the digitalization of health care system coupled with the rising adoption of healthcare information exchange systems due to increased connectivity between healthcare providers. Also, increasing government support in creating a sophisticated infrastructure for data exchange, and rising investment from government, private institutions and individuals are driving the growth of the healthcare information exchange market. However, privacy and security concerns, huge initial infrastructural investment and slow return on investment are hindering the growth of the market. For instance, Exchanges in the US must operate with patient consent to comply with not only the Health Insurance Portability and Accountability Act (HIPAA), but a variety of state and federal laws and regulations.

Healthcare Information Exchange Market Trends

Hybrid Model Segment is Expected to Have Significant Share

The hybrid model combines characteristics of both the centralized and decentralized models. In this model, the SDE (Software Development Engineer) does not act as an HIO (Health Information Organization), which means they do not support clinical data. In a hybrid model, each organization manages its data separately, with some data physically stored and managed in a central location that allows for analytics and population health management. Hybrid Models have a variety of benefits, such as leveraging existing HIEs, supporting diverse communities, and minimizing privacy and liability issues. Hence, with the advantages offered by the hybrid model, the market is expected to witness healthy growth over the forecast period.

Asia-Pacific is expected to grow with High CAGR

• North America healthcare information exchange market projected to have a significant market share owing to the well-established healthcare infrastructure, high adoption of healthcare information systems and the rising number of the organized healthcare system.
• The Asia-Pacific economy is growing at a fast pace. Countries like India, China, Japan, and Australia are driving this region to economic prosperity. The main area of concern for this region is proper healthcare for the growing population. With newer hospitals and pharmacies opening up in this region, there will be a lot of data about a patient in the market. This is where accurate analysis of all that data will be crucial.
• Furthermore, increasing healthcare expenditure, increasing government initiations are also a few factors which are boosting the market.

Healthcare Information Exchange Industry Overview

The global healthcare information exchange market is moderately competitive and consists of several major players. Major players in the market are Allscripts Healthcare Solutions, Inc., Cerner Corporation, Covisint Corporation (Open Text Corporation), Epic Corporation Inc., Infor, Inc., Medicity, Inc., NextGen Healthcare Information Systems, LLC, Optum, Inc., and Orion Healthcare, among others.

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