Health Information Exchange Market with DROT, Porter's Five Forces and SWOT analysis By 2027 | GE, eClinicalWorks, Siemens AG, Orion Health, Medicity, IBM Corporation, CareEvolution, etc

Meaningful use requirements, new payment approaches that stress care coordination, and federal financial incentives are all driving the interest and demand for health information exchange market

Market Size - USD 1227.4 Million in 2018, Market Growth - CAGR of 9.4%, Market Trends - Product Launches and Research for Advanced Tech Developments

Based on current analysis, the global Health Information Exchange market was valued at USD 1227.4 million in 2018 and is expected to reach USD 2552.9 million by 2026, at a CAGR of 9.4%. health information exchange (HIE) is the electronic transformation of healthcare concerned data among medical facilities, health information organizations, companies that require and govern the exchange of this data.

Electronic HIE allows healthcare professionals like doctors, nurses, pharmacists and patients to suitably access and securely share a patient's vital medical information electronically thus, improving the speed, quality, safety and cost of patient care. While HIE typically refers to the act of exchanging information between two or more healthcare organizations or providers, it may also refer to an organization that is responsible for facilitating the exchange. The purpose of HIE is to promote the appropriate and secure access and retrieval of a patient's information to improve the cost, quality, safety and speed of patient care.

This report covers the recent COVID-19 incidence and its impact on Health Information Exchange Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Companies profiled for this market study
GE, eClinicalWorks, Siemens AG, Orion Health, Medicity, IBM Corporation, CareEvolution, Cerner Corporation, RelayHealth Corporation, and Allscripts Healthcare Solutions, Inc

For the purpose of this study, the HIE market is segmented on the basis of application, implementation model, solution type, exchange setup type and regions:

Application outlook (Revenue in USD Million; 2016-2026)
Web Portal Development
Internal Interfacing
Workflow Management
Others

Implementation model outlook (Revenue in USD Million; 2016-2026)
Centralized
Decentralized
Hybrid

Solution type (Revenue in USD Million; 2016-2026)
Portal-Centric
Platform-Centric
Messaging-Centric

Exchange set up (Revenue in USD Million; 2016-2026)
Private HIE
Public HIE

Market Segmentation by Regions:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Services of the health information exchange market intends to help its providers to reduce medication and medical errors, eliminate unnecessary paper work, provide caregivers with clinical decision support tools for more effective treatment, improve public health monitoring and reporting, improve healthcare quality and reduce healthcare costs.

Key findings from the report

In the implementation model segment of health information exchange, the hybrid model segment is estimated to grow at a profitable rate due to the linked benefits, such as improved patient care delivery and enhanced operational efficiency of the practices

Based on the applications, the internal interfacing segment is the fastest growing segment with a growing CAGR of 10.1% in the health information exchange market during the forecast period. Internal interfacing is presumed to propel the demand for the health information exchange market

North America dominated the health information exchange market at a market share of 44.4% owing to the existence of enormous companies, supportive settlement policies, and the increasing implementation of HER

GE and Microsoft have announced plans to create a joint venture that will enable care teams to improve quality, performance and the patient experience. The new partnership will deliver something truly different: the industry's first solution focused on enabling population health management to alter the economics of health and wellness

The National Rural Health Resource Center has made available a set of practical HIE resources to assist providers in understanding and implementing Health Information Exchange

Asia Pacific is expected to grow rapidly at a CAGR of over 10.6% during the forecast period in the health information exchange market due to the rising disposable income levels, the increased awareness levels amongst healthcare practitioners regarding the healthcare information exchange systems

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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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