The global interoperability solutions in the healthcare market are expected to witness a CAGR of 5.9% during the forecast period. Healthcare interoperability solutions have revolutionized the scope of medical and healthcare services. The global interoperability solutions market is evolving intensely owing to the rising adoption of EHRs, prominence of personalized care, increasing healthcare expenditure, initiatives taken by the government, and growing funding activities.

Interoperability solutions are extensively used in several healthcare facilities like hospitals. For example, e-prescribing interoperability solutions will allow providers of ambulatory healthcare services to send prescriptions to drug stores electronically. However, complexity owing to a lack of reliable data and privacy concerns may hinder the growth of the interoperability solutions market. Nevertheless, the growing outlay in medical device interoperability, integration of blockchain in interoperability solutions, and rising healthcare infrastructure in emerging economies are promising opportunities in the global interoperability solutions market.

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The COVID-19 outbreak has led to social distancing norms which in turn reduce the burden on hospitals. Medical IoT devices that live at home with patients are being adopted in this crisis situation. The COVID-19 crisis has provided huge resource constraints which have led to advancement in competitive pricing and value-based pricing models by the industry players, resulting in the growth of the interoperability solutions market in the healthcare sector.

Epic introduced a new One Virtual System Worldwide interoperability initiative, and also added new features to its Care Everywhere solution. Care Everywhere is an Electronic Health Information Exchange platform which is a confederated model that is controlled by the patient and can be used without any intermediary.

Based on the interoperability level, the interoperability solutions in the healthcare market are categorized into foundational interoperability, structural interoperability, and semantic interoperability. Semantic interoperability is anticipated to grow at a faster pace during the forecast period as more than two systems can be used for information exchange. This interoperability allows patient data to be exchanged electronically between approved parties and physicians through the EHR to improve the efficiency, safety, quality, and effectiveness of healthcare.

Asia Pacific is anticipated to have a high CAGR during the forecast period owing to the rising medical tourism, growing demand for quality care, rising government expenditure on healthcare facilities in the region. Moreover, there is a large patient pool in countries like China and India that produces a large amount of patient data every year, resulting in a need to provide an effective exchange of data amongst pharmacies and hospitals.

Some of the major players in the global interoperability solutions in the healthcare market include Epic Systems Corporation, Cerner Corporation, General Electric, Allscripts Healthcare, LLC, Koninklijke Philips N.V., iNTERFACEWARE Inc, Jitterbit, OSP Labs, Orion Health, and Visolve, Inc.

Source: VynZ Research