Global Data Exchange in Healthcare Market 2022-2028 | Growth Outlook

A recent study by Triton Market Research titled 'Global Data Exchange in Healthcare Market' includes the Global Analysis and Forecasts by Type (Direct-mediated, Consumer-mediated, Query-based), by Set Up (Private, Public), by Application (Internal Interfacing, Web Portal Development, Workflow Management, Other Applications), by Implementation Model (Hybrid, Centralized, Decentralized), by Deployment (Cloud-based, On-Premise), by End-user (Healthcare Payers, Healthcare Providers, Pharmacies), and by Regional Outlook (Europe, Middle East and Africa, Asia-Pacific, Latin America, North America).

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According to analysis by Triton Market Research, the Global Data Exchange in Healthcare Market is likely to progress with a CAGR of 24.90% over the forecast duration 2022-2028.

Data sharing offers a number of benefits. On the whole, it helps in minimizing costs, enhancing efficiency, offering better customer experience, helping end-user organizations gain a competitive edge, and maximizing profits. The sharing of data in healthcare improves the quality of care, reduces hospital visits, and aids professionals in making informed decisions. As a result, the adoption of health information exchange systems is expected to increase, thereby driving market growth.

There is a massive requirement for skilled professionals in the healthcare industry in order to sustain the rapidly rising demand for data sharing. These professionals make use of healthcare analytics solutions and train other healthcare professionals for the same, as per requirements. However, there is a shortage of skilled personnel and expert staff in this field, which acts as a hindrance to the market.

The data exchange in healthcare market is divided into type, set up, application, implementation model, deployment, and end-user. The type segment includes direct-mediated, consumer-mediated, and query-based. And the set up segment includes private and public.

Whereas, the application segment consists of internal interfacing, web portal development, workflow management, and other applications. Further, the implementation model segment comprises hybrid, centralized, and decentralized. The deployment segment comprises cloud-based and on-premise. And lastly, the end-user segment includes healthcare payers, healthcare providers, and pharmacies.

Europe is anticipated to showcase the fastest growth rate in the global market over the considered period. The primary driving factor for the market growth in the region is the growing digitalization across the healthcare sector. For example, Finland has successfully implemented electronic health records (EHRs) in its systems, at a 100% coverage rate across both, the public and private sectors.

The European Union (EU) has been very forthcoming in empowering its citizens with EHR solutions with a people-centric care ecosystem. Several countries in the region are working towards ensuring that the set regulations are followed on a larger scale. These factors have contributed to the growth of the studied market in Europe.

The leading players in the data exchange in healthcare market include Definitive Healthcare, Cloudtag Inc, Datavant, H1, AWS Marketplace (Amazon), Zenome, Snowflake, BurstIQ LLC, Cloudera, Longenesis, Cloudticity, Optum, Medical Chain, Siemens Healthineers, and Health Verity.

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Question & Answer: Data Exchange in Healthcare Market

Question 1: What is driving the data exchange in healthcare market growth?
Answer: Data sharing offers a number of benefits. On the whole, it helps in minimizing costs, enhancing efficiency, offering better customer experience, helping end-user organizations gain a competitive edge, and maximizing profits. The sharing of data in healthcare improves the quality of care, reduces hospital visits, and aids professionals in making informed decisions. As a result, the adoption of health information exchange systems is expected to increase, thereby driving market growth.

Question 2: What acts as a hindrance to the global market?
Answer: There is a massive requirement for skilled professionals in the healthcare industry in order to sustain the rapidly rising demand for data sharing. These professionals make use of healthcare analytics solutions and train other healthcare professionals for the same, as per requirements. However, there is a shortage of skilled personnel and expert staff in this field, which acts as a hindrance to the market.

Question 3: Which region is anticipated to grow the fastest in the data exchange in healthcare market?
Answer: Europe is anticipated to showcase the fastest growth rate in the global market over the considered period. The primary driving factor for the market growth in the region is the growing digitalization across the healthcare sector. For example, Finland has successfully implemented electronic health records (EHRs) in its systems, at a 100% coverage rate across both, the public and private sectors.

The European Union (EU) has been very forthcoming in empowering its citizens with EHR solutions with a people-centric care ecosystem. Several countries in the region are working towards ensuring that the set regulations are followed on a larger scale. These factors have contributed to the growth of the studied market in Europe.

Question 4: Which are the leading players in the global data exchange in healthcare market?
Answer: The leading players in the data exchange in healthcare market include Definitive Healthcare, Cloudtag Inc, Datavant, H1, AWS Marketplace (Amazon), Zenome, Snowflake, BurstIQ LLC, Cloudera, Longenesis, Cloudticity, Optum, Medical Chain, Siemens Healthineers, and Health Verity.

Related Report:

Global Healthcare Analytics Market - https://www.tritonmarketresearch.com/reports/healthcare-analytics-market

The global market for healthcare analytics is expected to grow at a CAGR of 16.30% in the forecast phase 2019-2027.

Healthcare analytics involves obtaining insights from correlations and patterns found in healthcare big data in order to make informed healthcare decisions. It extends beyond data management to finding meaning in historical or real-time data, and forecasting future outcomes to improve the probability of success.

To leverage the benefits of health data analytics, such as enabling early disease diagnosis to treat them more effectively, detecting healthcare fraud more quickly, and managing specific individual & population health, end-users are increasingly making use of big data technologies. This is expected to fuel the studied market's growth over the forecasted period.

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