Healthcare Data Integration Market Competitive And Growth Analysis 2024 | McKesson Corporation, Dell Technologies Inc., International Business Machines Corporation

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Healthcare Data Integration Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $4.67 Bn In 2028 At A CAGR Of 18.2% :

The healthcare data integration market size has grown rapidly in recent years. It will grow from $2.03 billion in 2023 to $2.40 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to growth in adoption of clinical decision support systems (CDSSs), shift towards value-based care models emphasizes integrated data, rise of value-based care models , need for data-based decision-making, escalating adoption of cloud-based data integration solutions.

The healthcare data integration market size is expected to see rapid growth in the next few years. It will grow to $4.67 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to adoption of electronic health records (EHRs), increasing demand for Interoperability data, rise in digital health solutions, advancements in data analytics and artificial intelligence (AI) in healthcare, focus on improving patient care. Major trends in the forecast period include Shift to electronic health records (EHRs), integration of diverse data sources, shift towards value-based care, advancements in technology, telehealth expansion.

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Healthcare Data Integration Market Major Segments
The healthcare data integration market covered in this report is segmented -

1) By Component: Tools, Services
2) By Type Of Integration: Application Integration, Data Integration, Device Integration, Healthcare Information Exchange (HIE), System Integration, Other Integrations
3) By Deployment: Cloud, On-Premises
4) By Business Application: Marketing, Sales, Operations And Supply Chain, Finance, Human Resources (HR)
4) By End-user: Hospital, Clinics, Laboratories, Other End-users

Key Driver - Electronic Health Records (EHRs) Fuel Growth of Healthcare Data Integration Market

The increasing adoption of electronic health records (EHRs) is expected to propel the growth of the healthcare data integration market going forward. Electronic health records (EHR) are digital systems that securely store and manage patient health information, enabling efficient access, sharing, and analysis among healthcare providers. The demand for electronic health records (EHR) IT systems is rising due to improved efficiency, data centralization and accessibility, interoperability, and patient engagement. Healthcare data integration solutions are crucial in achieving interoperability by connecting EHR systems with other healthcare IT systems, such as laboratory information systems (LIS), pharmacy systems, and radiology systems. For instance, in 2021, according to the Office of the National Coordinator for Health Information Technology (ONC), a US-based national health information technology infrastructure, the adoption of certified electronic health record technology among non-federal acute care hospitals in the United States increased from 96% in 2021 to 97% in 2022. Therefore, the increasing adoption of electronic health records (EHRs) is driving the growth of the healthcare data integration market.

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Prominent Trend - Innovative Healthcare Data Integration Solutions Revolutionize Clinical Trials

Major companies operating in the healthcare data integration market are focused on developing innovative data integration offerings, such as Clinical Data Studio and Health Record Connect, to gain a competitive advantage in the market. Clinical Data Studio and Health Record Connect are new data integration solutions that enhance and streamline clinical data workflows in clinical trials. For instance, in November 2023, Medidata Solutions Inc., a US-based technology company that develops and markets software as a service for clinical trials, launched Clinical Data Studio and Health Record Connect, a data integration solution designed to enhance and accelerate clinical trials. Medidata's clinical data offerings optimize workflows by incorporating lab data, electronic health records, and sensors. Clinical Data Studio streamlines data standardization, while Health Record Connect integrates clinical research into healthcare data, transforming study conduct with AI insights. These solutions boost trial outcomes by utilizing actionable data insights and enhancing data quality and management processes. They combine healthcare data sources to increase efficiencies and improve patient outcomes in clinical research settings.

Healthcare Data Integration Market Players
Major companies operating in the healthcare data integration market are McKesson Corporation, Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, Salesforce Inc., Koninklijke Philips N.V., GE Healthcare, Cerner Corporation, Experian Information Solutions Inc., SAS Institute Inc., Epic Systems Corporation, Allscripts Healthcare Solutions Inc., Informatica Inc., Siemens Healthineers AG, InterSystems Corporation, NXGN Management LLC, QlikTech International AB, Optum Inc., Health Catalyst, Innovaccer Inc., Orion Health, Veradigm LLC, Denodo Technologies, 1upHealth

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Largest And Fastest Growing Region In The Market
North America was the largest region in the healthcare data integration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare data integration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Healthcare Data Integration Market Report Structure
3. Healthcare Data Integration Market Trends And Strategies
4. Healthcare Data Integration Market - Macro Economic Scenario
5. Healthcare Data Integration Market Size And Growth
…..
27. Healthcare Data Integration Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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