DUBLIN--(BUSINESS WIRE)--The "Healthcare IT Systems Interoperability Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The Healthcare IT Systems Interoperability Market was valued at US$ 2,700 Mn in 2019 and expected to reach US$ 7900 Mn by 2029, expanding at a CAGR of 12% from 2021 to 2029.
- Infor Inc.
- Oracle Corporation
- Cerner Corporation
- Corepoint Health LLC.
- Orion Healthcare Limited
- InterSystems Corporation
- Quality Systems Inc.
- Summit Healthcare Services Inc.
- Mulesoft Inc.
- IBM Corporation.
The healthcare IT systems interoperability solution aids in seamless exchange of data associated with patients between hospitals and other healthcare facility providers within healthcare industry. Effective deployment of healthcare IT systems and real-time use of medical information through healthcare IT systems interoperability has allowed medical facilities to provide first-rate treatment and care to their patients.
Cost Cutting Benefits the Demand for Interoperability Solutions
Cost associated with healthcare in developed countries in North America and Europe regions has skyrocketed over the years. Incorporation of effective techniques such as healthcare IT systems interoperability is highly encouraged by healthcare and medical facilities in order to mitigate the exponential cost of medical treatments. Aforementioned factors have certainly created a positive outlook on the growth of overall Healthcare IT Systems Interoperability market. Challenges such as lack of standardization, complexity and high cost of installations have restrained the growth of Healthcare IT Systems Interoperability market. However, aforementioned challenges are expected to diminish during the forecast period from 2021 to 2029.
Remote Management & Integrated Access Remain Key During & Post Pandemic Scenario
Healthcare IT Systems Interoperability has gained immense popularity in the recent years. Rising healthcare costs and increasing need to provide effective healthcare services have led to the growing demand for healthcare IT systems interoperability. The integration of various systems enables healthcare organizations to reduce number of repeated tests and making it easier for medical staff to access patient medical data. Furthermore, with interoperability between various healthcare systems, medical professionals easily and securely can share medical information for expert consulting and referrals. Thereby, interoperability ensures continuity of care irrespective of geographical location or healthcare service provider. Furthermore, interoperability enables governments and healthcare organizations to deploy population health management that can work towards prevention and early detection of diseases.
Hospitals are the Key Users of Interoperability Solutions
In terms of biotechnology, pharma, clinical trials, R&D and healthcare IT the industry the market has evidenced significant growth post the temporary setback during the lockdown that impacted the operations of the pharma and biotech companies. However, critical R&D laboratories and healthcare service centers and services are continuing to remain under significant strain during this period. The hospitals segment held the largest market share in the overall Healthcare IT Systems Interoperability Market across the world in 2020. With numerous IT systems deployed in large acute care settings, it has become imperative for hospitals to achieve enhanced interoperability among various systems to reduce healthcare costs and increase clinical workflow efficiency.
North America Generates Almost Half of the Revenues
North American region comprising Canada, the U.S. and Caribbean countries held the largest share in the overall Healthcare IT Systems Interoperability market. The region accounted for 48% of the global market value in the year 2020. The U.S. represented the largest and most attractive Healthcare IT Systems Interoperability Market owing to need for effective use of healthcare IT systems. With the advent of technological advancements in the healthcare IT sector, large volumes of data is being generated using various medical systems and devices at healthcare facilities. In order to reduce healthcare costs along with gaining actionable insights, it has become imperative for healthcare organizations to connect and integrate various healthcare IT systems deployed within the organization.
Key questions answered in this report
- What is the historical, current and projected market size of the global bathroom cabinet market during the period from 2019 to 2029?
- At what CAGR will the global market advance during the forecast period from 2021 to 2029?
- What is the impact of covid 19 on market revenues and market trends?
- Which product type is the most demanded universally, why?
- What is the key application segment in global healthcare IT interoperability market?
- Which material is witnessing the highest demand in the global market?
- Why is Asia Pacific witnessing robust market growth?
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Growth Inhibitors
3.2.3 Impact Analysis of Market Drivers and Restraints
3.3 Attractive Investment Proposition
Chapter 4 Market Inclination Insights: Healthcare IT Systems Interoperability Market
Chapter 5 Global Healthcare IT Systems Interoperability Market Analysis, By End User
Chapter 6 North America Healthcare IT Systems Interoperability Market Analysis
Chapter 7 Europe Healthcare IT Systems Interoperability Market Analysis
Chapter 8 Asia Pacific Healthcare IT Systems Interoperability Market Analysis
Chapter 9 Rest of the World Healthcare IT Systems Interoperability Market Analysis
Chapter 10 Company Profiles
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