Dublin, Feb. 22, 2022 (GLOBE NEWSWIRE) -- The "Healthcare Interoperability Solutions Market by Type (EHR Interoperability, Health Information Exchange, Enterprise), Interoperability Levels (Foundational, Structural, Semantic), End User (Hospitals, Pharmacies, Clinics, Payers) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global healthcare interoperability solutions market is projected to reach USD 5.7 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 13.9% during the forecast period. Growth in this market is driven by the growing need to curtail healthcare costs, government initiatives to enhance patient care & safety, government funding for healthcare interoperability, and the rapid adoption of EHR & other healthcare IT solutions. However, the lack of true interoperability solutions, lack of standards, and the use of outdated legacy systems are some factors restraining the growth of the healthcare interoperability solutions market to a certain extent during the forecast period.
Services were the largest and fastest-growing segment in the type of healthcare interoperability solutions market in 2020
Services accounted for the largest share of healthcare interoperability solutions market in 2020. The large share of this segment can be attributed to the recurring cost of services such as software upgrades/updates and maintenance.
Healthcare Providers is the largest end user segment in the healthcare interoperability solutions market in 2020
Based on the end user, the healthcare interoperability solutions market is into veterinary clinics, veterinary hospitals & academic institutes, and other end users. In 2020, the veterinary clinics segment accounted for the largest share of the global healthcare interoperability solutions market. The large share of this segment can be attributed to factors such as the increasing patient volume, the need to curtail the rising healthcare costs, and government mandates.
APAC to witness the highest growth rate during the forecast period
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by factors such as increasing government initiatives for eHealth, rising medical tourism, growing demand for quality healthcare, and the growing need for the implementation and integration of medical devices and HCIT solutions to provide cost-effective and quality care to patients.
Market Dynamics
Drivers
- Growing Need to Curtail Healthcare Costs
- Government Initiatives to Enhance Patient Care and Safety
- Government Funding for Healthcare Interoperability
- Rapid Adoption of Electronic Health Records and Other Healthcare IT Solutions
Restraints
- Lack of True Interoperability Solutions
- Lack of Standards
- Use of Outdated Legacy Systems
Opportunities
- Emerging Markets for Healthcare Interoperability Solutions in Developing Countries
Challenges
- Increasing Complexity with Lack of Consistent Data
- Shortage of Skilled Healthcare It Professionals
- Data Privacy Concerns
Companies Mentioned
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- Change Healthcare
- Cognizant
- Deevita LLC
- Emids Technologies Inc.
- Epic Systems Corporation
- IBM Watson Health
- Infor, Inc.
- Interfaceware Inc.
- Intersystems Corporation
- Jitterbit
- Koninklijke Philips Nv
- Lyniate
- Medical Information Technology, Inc.
- Mphrx Inc.
- Nalashaa Healthcare
- Nextgen Healthcare, Inc.
- Onyx Technology LLC
- Orion Health Group Limited
- OSP Labs
- Summit Healthcare Services, Inc.
- Virtusa Corp.
- Visolve Inc.
- Wipro Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ehunl6
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