Healthcare Interoperability Market Study including Growth Factors, New Top Players, Competitive Analysis by regions from 2020 to 2028

Global Healthcare Interoperability Market By Type (Software Solutions, Services), Software Type (Integrated, Standalone), Model Type (Centralized, Hybrid, Decentralized), Interoperability Level (Foundational Interoperability, Structural Interoperability, Semantic Interoperability), Deployment (Cloud-Based, On-Premise), Application (Diagnosis, Treatment, Others), End-Users (Healthcare Providers, Healthcare Payers, Pharmacies), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026

Market Analysis: Global Healthcare Interoperability Market

Global healthcare interoperability market is expected to register a healthy CAGR of 13.2% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the better population management with these services as well as the increased usage of EHR software by the healthcare providers.

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Key Market Competitors:

Few of the major competitors currently working in the global healthcare interoperability market are InterSystems Corporation; Orion Health group of companies; Allscripts Healthcare LLC; Infor; Cerner Corporation; iNTERFACEWARE Inc.; NXGN Management, LLC; OSPLabs; Epic Systems Corporation; Koninklijke Philips N.V.; ViSolve.com; Jitterbit; Health Catalyst; Optum, Inc.; Smiths Medical, Inc.; Ciox Health; TeleTracking Technologies, Inc.; Experian Information Solutions, Inc.; Corepoint Health; Oracle; MuleSoft, LLC; Summit Healthcare Services, Inc.; IBM Corporation, among others.

Market Definition: Global Healthcare Interoperability Market

Healthcare interoperability essentially is the co-working of healthcare information systems and technological services. This ability is provided by interacting between various healthcare databases, technological services to result in better delivery of healthcare services. This involves exchange of information, medicine practices and communication between physicians over software/applications.

Market Drivers

  • Increasing need to deliver patient specialized healthcare services according to the unique need of every individual, this factor is expected to drive the growth of the market
  • Increased levels of expenditure incurred & initiatives taken by the government to deliver improving the healthcare services, this is expected to foster growth in the market
  • Growing requirement to reduce the costs of healthcare incurred, is expected to have a positive effect on the growth of the market
  • Increased usage of healthcare IT services and unique patient information in the North America and European region, is expected to drive the growth of the market

Market Restraints

  • Concerns regarding unavailability of completely compatible interoperability offerings, this factor is expected to restrain the growth of the market
  • Absence of any set standardizations & regulations regarding the usage of these technologies, this factor is expected to restrain the growth of the market
  • Lack of technically skilled professionals for the integration and maintenance of these systems due to a complicated set-up coupled with high costs associated, is expected to hinder the growth of the market

Competitive Analysis:

Global healthcare interoperability market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of healthcare interoperability market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Key Developments in the Market:

  • In July 2018, Health Catalyst announced that they had completed the acquisition of Medicity, expanding their consumer base along with the locations serviced. They will be able to provide their offerings to a greater number of healthcare providers, facilities to physicians and patients. Due to the combined capabilities of both the companies, they will be able to offer better healthcare services resulting in better quality at a lower cost.
  • In January 2018, Epic Systems Corporation announced the launch of “One Virtual System Worldwide”, a communicative interface for physicians, clinics, organizations where the exchange of data & interaction between them is available. This will enable not just viewing the data available at their disposal rather involve exchange of valuable information that will help in providing specialized healthcare services according to each individual requirement.

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Research Methodology: Global Healthcare Interoperability Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Reasons to Purchase this Report

  • Current and future of global healthcare interoperability market outlook in the developed and emerging markets
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

  • All segmentation provided above in this report is represented at country level
  • All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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