Health Information Exchange Market Research

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Health Information Exchange Market Research-
Global Industry Information by Application (Web
Portal Development, Internal Interfacing,
Workflow Management, Others), Model (Centralized,
Decentralized, Hybrid), Solution Type
(Portal-Centric, Platform-Centric,
Messaging-Centric) and Forecast To 2026
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Health Information Exchange Market Synopsis
Based on current analysis, the Global Health
Information Exchange Market was valued at USD
1342.77 million in 2019 and is expected to reach
USD 2792.87 million by 2027, at a CAGR of 9.4.
Health information exchange (HIE) is the
electronic transfer of healthcare data among
health information organizations, medical
facilities, and companies that need the smooth
and seamless exchange of medical data rapidly.
Electronic health information exchange enables
healthcare professionals such as doctors, nurses,
lab technicians, pharmacists, and patients to
access and share vital medical information with
utmost security thus, improving the speed,
quality, and cost of patient care. While health
information exchange or HIE typically involves
the exchange of information between healthcare
organizations or providers, it may also be used
as a term to refer to an organization that is
responsible for facilitating the exchange. The
demand for electronic HIE among care
professionals is growing worldwide along with
efforts to enhance the quality, safety, and
efficiency of health care delivery. Such factors
are anticipated to boost the growth of the health
information exchange market. Services of the
health information exchange are aimed at helping
care providers to eliminate unnecessary
paperwork, reduce medication, medical errors,
provide decision support tools for more efficient
treatment, and enhance public health
monitoring. Free Report Sample Available _at_
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Drivers and Restraints The health information
exchange market is expected to grow rapidly,
especially as a consequence of the COVID-19
pandemic, which has caused a surge in demand for
health information exchange systems. The current
global situation has necessitated the collection,
storage, and secured exchange of large amounts of
healthcare data. Moreover, the increased focus of
government organizations on promoting the use of
healthcare information technology to enhance the
quality of healthcare is a key growth driver for
the health information exchange market. The
rising need to reduce the costs of paper-based
patient health records maintenance is another
factor driving the health information exchange
market. According to a study by NCBI, retrieval
of data through electronic health records is much
faster and easier, which also helps in cutting
healthcare costs. This is expected to fuel the
demand for HIE systems over the forecast period.
The high cost of implementation of a
comprehensive health information exchange system
along with the complexities of the same is a
major factor for the slow growth of the market.
It is also a reason that these systems are
available in the most economically developed
countries.
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Key Players Some of the prominent players in the
health information exchange market include
Siemens AG, GE, eClinicalWorks, IBM Corporation,
Orion Health, Medicity, CareEvolution, Cerner
Corporation, RelayHealth Corporation, and
Allscripts Healthcare Solutions, Inc Industry
News In November 2020, SYNCRONYS, the Health
Information Exchange of New Mexico, announced
that it has partnered with eHealth Technologies.
This will give care providers in SYNCRONYS
community one-click access to medical images of
patients from across the state. Care providers
from hospitals, laboratories, physician groups,
home health, imaging centers, emergency, and
other participating healthcare services in New
Mexico can use the eHealth Connect Image
Exchange to view, compare, collaborate and
transfer diagnostic quality medical images with
ease. In November 2020 Oklahoma government
announced its statewide health information
exchange, which is set to launch in 2021. The
state is also collaborating with the Oklahoma
Health Care Authority to realize its goal of
launching an HIE, which has been in the works for
a couple of years. It is aimed at helping
healthcare providers reduce mistakes and boost
public health reporting. It will also allow
providers to exchange patient information both
safely and securely.
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In November 2020, Connecticut also is scheduled
its HIE launch after 4 failed attempts in the
last decade. Connecticut state government is
focusing on the launch of the HIE as soon as
possible because the state has come to realize
that an operational HIE system could have been
much helpful during the first wave of the
pandemic. Health Information Exchange Market
Segmentation On the basis of application, the
health information exchange market has been
segmented as Web Portal Development, Internal
Interfacing, Workflow Management, and Others On
the basis of implementation model, the health
information exchange market has been segmented as
Centralized, Decentralized, and Hybrid On the
basis of solution type, the health information
exchange market has been segmented as
Portal-Centric, Platform-Centric, and
Messaging-Centric On the basis of exchange set
up, the health information exchange market has
been segmented as Private HIE and Public
HIE Browse Complete Report _at_ https//www.reportsa
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ge-market
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Health Information Exchange Market Regional
Outlook North America dominated the health
information exchange market with a revenue share
of 44.4 in 2019 due to the existence of enormous
healthcare companies, supportive settlement
policies, and the increasing penetration of
Health Information Exchange in the region. In the
U.S., the National Rural Health Resource Center
provided a set of practical HIE resources to
assist providers in understanding and
implementing Health Information Exchange. Asia
Pacific health information exchange market is
expected to grow rapidly at a CAGR of over 10.6
during the forecast period due to the rising
disposable income levels and increased awareness
amongst healthcare practitioners regarding the
need for healthcare information exchange systems.
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