Global Health Information Exchange Market is mainly driven by federal mandates


Posted June 26, 2018 by akshayjadhav

Health information exchange (HIE) involves the electronic movement of health-related information among organizations according to nationally recognized standards.

 
Global Health Information Exchange Market is mainly driven by federal mandates

Health Information Exchange Market by Set Up Type (Public, Private), Type (Pull, Push), Implementation Model (Federated, Hybrid), Application (Web Portal, Secure Messaging), Solution Type (Portal, Platform Centric), & End Users - Global Forecast to 2020

https://www.marketsandmarkets.com/Market-Reports/healthcare-information-exchange-market-249987292.html

Health information exchange (HIE) involves the electronic movement of health-related information among organizations according to nationally recognized standards. HIE aims to facilitate the access and retrieval of clinical data to provide safer, timelier, efficient, effective, equitable, patient-centered care. It enables collaboration between healthcare stakeholders, reduces administrative tasks, and provides greater transparency in the healthcare field. The health information exchange market is projected to reach USD 1,545.0 Million by 2020 from USD 990.6 Million in 2015, at a CAGR of 9.3% during the forecast period. Growth in the global health information exchange market is mainly driven by federal mandates like Meaningful use, growing patient-centric approach in healthcare delivery, increasing EHR adoption rate, and need to curtail healthcare cost. However, requirement of significant infrastructural investments coupled with low return on investment and data security & privacy concerns are expected to restrain the growth of this market to a certain extent. In this report, 2014 is considered as the base year and the forecast period is from 2015 to 2020.

Objectives of the Study

• To define and measure the global health information exchange market on the basis of type, setup type, solution, application, implementation model, end user, and region

• To identify the key micromarkets and their drivers within the global health information exchange market, which are expected to show impressive growth opportunities in the coming years

• To identify the market trends and opportunities for all the stakeholders

• To strategically analyze the market structure and profile the key players of the global health information exchange market and comprehensively analyze their core competencies

• To track and analyze competitive developments such as product deployments; agreements, alliances, collaborations, and partnerships; new product launches (including product integrations and product enhancements); acquisitions; expansions (including service expansions); and other strategies (spin-off, divestment, accreditation, and funding)

Research Methodology

Both, top-down and bottom-up approaches were used to estimate and validate the size of the global health information exchange market and to estimate the size of various other dependent submarkets in the overall health information exchange market. Various secondary sources such as associations like the Healthcare Information and Management Systems Society (HIMSS), American Medical Association (AMA), National Association for Trusted Exchange (NATE), U.S. Department of Health and Human Services HRSA (Health Resources and Services Administration), NCBI, and Regional Health Information Exchange Organizations (RHIOs), industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market. The breakdown of profiles of primaries is shown in the figure below:

The health information exchange market is expected to reach USD 1,545.0 Million by 2020 from USD 990.6 Million in 2015, at a CAGR of 9.3%. North America dominated the market in 2015, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.

On the basis of type, the health information exchange market is segmented into directed exchange, query-based exchange, and consumer-mediated exchange. The directed exchange segment accounted for the largest share of the global market in 2015. Directed exchange supports point-to-point transactions and transmits documents to physicians’ EHR; this is contributing to the large share of this segment.

By setup type, the health information exchange market is segmented into private and public HIE. The private HIE segment accounted for the largest share of the market in 2015 and is expected to grow at the highest CAGR during the forecast period. Factors such as rising number of ACOs and technical capability to connect with other private exchanges are contributing to the large share of this segment.

By solution, the market is segmented into portal-centric, messaging-centric, and platform-centric HIE solutions. The portal-centric HIE solutions segment accounted for the largest share in 2015. However, the platform-centric HIE solutions segment is expected to grow at the highest CAGR during the forecast period. High growth in this segment can be attributed to the growing demand of integrated solutions, which enable providers to view and exchange patient information with other stakeholders. Moreover, platform-centric solutions provide the functionality of both portal-centric and messaging-centric solutions.

By application, the market is segmented into web portal development, workflow management, secure messaging, internal interfacing, and others (personal health records and chronic disease management). The web portal development segment accounted for the largest share of the health information exchange market in 2015. However, the internal interfacing segment is expected to grow at the highest CAGR in the forecast period, owing to the rising need of streamlining workflow and reducing healthcare costs by eliminating medication errors.

By implementation model, the market is segmented into hybrid model, centralized/consolidated model, and decentralized/federated model. The hybrid model segment accounted for the largest share of the health information exchange market in 2015, and is expected to grow at the highest CAGR during the forecast period. Hybrid HIE provides controlled flow of data and supports diverse communities; this is contributing to the large share of this segment.

On the basis of end users, the market is segmented into providers, payers, and pharmacies. The providers segment accounted for the largest share of the global health information exchange market in 2015. On the basis of region, the market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Allscripts Healthcare Solutions, Inc. (U.S.), RelayHealth Corporation (U.S.), Infor, Inc. (U.S.), Cerner Corporation (U.S.), eClinicalWorks (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Optum, Inc. (U.S.), Covisint Corporation (U.S.), Epic Corporation Inc. (U.S.), and Orion Health (New Zealand) are some of the key players in the global health information exchange market.

About MarketsandMarkets

• MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

• M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

• We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:

• Mr. Rohan

MarketsandMarkets

UNITno802,Towerno. 7, SEZ

Magarpatta city, Hadapsar

Pune, Maharashtra 411013, India

1-888-600-6441

Email: [email protected]
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Rohan
Country United States
Categories Biotech , Government , Health
Last Updated June 26, 2018