DUBLIN--(BUSINESS WIRE)--The "Healthcare Information Exchange Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
Growing demand for data exchange is the major factor which is propelling the growth of healthcare information exchange market during the forecast years.
It has been noted that 80% of providers reported that electronic data exchanges have increased the patients' efficiency. 89% of the patients witnessed improvement in the quality of care, as per the data in an article (Shifting From Volume to Value with Technology) published in 2016.
Additionally, increasing government support in creating 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.
Scope of the Report
Health information exchange is the mobilization of healthcare information electronically, across organizations within a region, community, or hospital system. Global healthcare information exchange market has been segmented on the basis of implementation model, setup type, application, exchange type, and component.
Key Market Trends
Hybrid Model Segment is Expected to dominate Healthcare Information Exchange Market
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 a healthy growth over the forecast period.
Asia-Pacific is expected to grow with High CAGR
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.
The global healthcare information exchange market is moderately competitive and consists of several major players.
- Growing Demand for Healthcare Data Exchange
- Government Support in Creating Infrastructure for Data Exchange
- Huge Initial Infrastructural Investment
- Data Privacy and Security Concerns
- Allscripts Healthcare Solutions Inc.
- Cerner Corporation
- Open Text Corporation
- Conifer Health Solutions
- Epic Corporation Inc.
- Infor, Inc
- Medicity, Inc.
- NextGen Healthcare Information Systems LLC
- Optum Inc.
- Orion Health
For more information about this report visit https://www.researchandmarkets.com/r/z1nkxu