Insights on the Healthcare Interoperability Solutions Global Market to 2027 - Featuring Koninklijke Philips, Allscripts Healthcare and Oracle Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Healthcare Interoperability Solutions Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The healthcare interoperability solutions market was valued at USD 3,192.1 million in 2021, and it is expected to reach USD 6,813.2 million by 2027, registering a CAGR of 13.59% during the forecast period of the study.

Companies Mentioned

• Koninklijke Philips NV
• Allscripts Healthcare LLC
• Oracle Corporation (Cerner Corporation)
• EPIC Systems Corporation
• NextGen Healthcare Inc.
• Koch Software Investments (Infor Inc.)
• Jitterbit
• Virtusa Corpopration
• Orion Health Group Limited
• International Business Machines Corporation (IBM)

Key Market Trends

The Service Segment is Expected to Hold a Major Market Share in the Healthcare Interoperability Solutions Market

The service segment is anticipated to account for the major share owing to the presence of a substantial number of service providers for interoperability solutions. Furthermore, increasing interest of healthcare and scientific communities in the cloud-based platform and cloud computing to minimize the overall operational costs for better and faster performance of healthcare applications is driving the segment growth.

For instance, in July 2021, Google Cloud introduced a healthcare data engine, an end-to-end solution for life science and healthcare organizations that harmonizes data from multiple sources, including claims, medical records, research data, and clinical trials. Also, frequent purchases of services, including software upgradation, training, and maintenance, further contribute toward segment growth.

In April 2021, Reliq Health Technologies Inc., a global telemedicine market, which has developed virtual care solutions for the multi-billion dollar healthcare sector, announced the adoption of the FHIR (Fast Healthcare Interoperability Resources) standard for its iUGO Care platform to fulfill the requirements of the large-scale enterprise. In May 2020, NewWave Telecom collaborated with Technologies, Inc. for the launch of Onyx Technology, a subsidiary focused on delivering health plans with services and products required to assist healthcare data interoperability. Such initiatives are driving the segment's growth.

North America is Expected to Hold a Significant Share in the Market and Expected to Maintain its Dominance during the Forecast Period

Anticipated dominance of the North American market can be attributed to the fact that with the growing geriatric population in the region, data sharing and interoperability is becoming increasingly critical for delivering effective healthcare. As reported by the Centers for Disease Control and Prevention (CDC) in February 2022, six in ten Americans are living with at least one chronic disease, such as cancer, heart disease and stroke, or diabetes. Apart from the rising mortality and morbidity in America, these diseases are also driving the overall healthcare costs. According to an article published by American Action Forum, published in September 2020, the total cost of chronic disease management account for USD 3.7 trillion each year in the United States, nearly 19.6% of the country's gross domestic product. Thus, with the increase in healthcare costs in the country, healthcare professionals are adopting digital healthcare solutions to reduce the overall processing time and related costs for patient management, thereby accelerating revenue in the country's market.

Furthermore, the Office of the National Coordinator for Health Information Technology reported a dramatic increase in the use of EHRs in the United States. A substantial number of hospitals now have routine access to medical records and patient data from outside providers, thereby driving the market growth.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Investment in IT Healthcare Solutions and Healthcare Interoperability

4.2.2 Rising Concerns Over Increasing Healthcare Costs

4.3 Market Restraints

4.3.1 Shortage of Skilled Healthcare IT Professionals

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Deployment

5.1.1 Cloud-based

5.1.2 On-premise

5.2 By Level

5.2.1 Foundational

5.2.2 Structural

5.2.3 Semantic

5.3 By Type

5.3.1 Solutions

5.3.1.1 EHR Interoperability

5.3.1.2 HIE Interoperability

5.3.1.3 Other Types

5.3.2 Services

5.4 By End User

5.4.1 Healthcare Providers

5.4.2 Healthcare Payers

5.4.3 Pharmacies

5.5 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/kjejwy