Health Information Exchange Market Scrutiny by Types and Applications to Grow at 9.4%, of CAGR till 2026| By Reports And Data

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.

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.

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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. The demand for electronic HIE among care professionals is growing along worldwide efforts to improve the quality, safety, and efficiency of health care delivery, which is anticipated to boost the growth of the health information exchange market.

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:

Regional Outlook (Revenue in USD Million; 2016–2026)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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

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Key findings from the report

1. HIE enables patient engagement, offering patients an electronic copy of their medical information that they can share with their healthcare providers. Research has also found that HIE use can improve patient-provider communication and patient satisfaction

2. 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

3. 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

4. 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

5. 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

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