Global Health Information Exchange Market Is Expected to Reach USD 2564.79 Million by 2028 : Fior Markets

Health Information Exchange Market Share, Share & Trends Analysis Report By Application (Secure Messaging, Web Portal), By Type (Private, Public), By Region and Forecasts, 2021-2028

Pune, INDIA


Newark, NJ, May 06, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global health information exchange market is expected to grow from USD1137.29 million in 2020 to USD 2564.79 million by 2028, at a CAGR of 10.7% during the forecast period 2021-2028

Certain factors are boosting the growth of the global health information exchange market. Some of them include increasing healthcare expenditure, growing adoption of EHRs and other HCIT solutions, increasing government initiations. The health information exchange market is increasing due to the usefulness during emergency cases where the doctors need to know the patient's medications and history to start new treatments for any new disease observed. Increasing incidences of cardiac arrests & decentralized treatments will improve the health information exchange market.

The healthcare information exchange market is primarily driven by the digitalization of the health care system coupled with the growing adoption of healthcare information exchange systems. Also, HIMSS is actively engaged in developing health information exchanges. HIMSS also provides a wide range of statistical resources for interested professionals worldwide in health information exchange. Healthcare information exchange conducts healthcare information by electronic means between healthcare information organizations, healthcare professionals, and government agencies inside a region according to national standards. Timely sharing of vital patient information can help in decision-making in critical times. Patient information transfer through the health information exchange market can avoid medication errors; readmissions will improve diagnoses and even reduce duplicate testing.

The global health information exchange market is expected to witness significant growth because of the increasing awareness among people about the advanced technologies to exchange information related to health. Adopting EMR solutions also helps improve health outcomes in terms of quality, affordability and lower disease burden and healthcare access. The factor restraining the market growth is data breaches. Data breaches in the health information exchange can be dangerous as the data can be misutilizedand & can be obtained by anybody. The opportunity for market growth is the increasing adoption of the cloud-based system and mobile health application in the global health information exchange market. Additionally, there is a significant impact on healthcare information exchange during the pandemic period. In this period, all countries were fighting against the novel coronavirus. The EH industry ensured to provide quality treatment procedures for the patient by collecting the individual's health history. A spike in the demand levels for healthcare information exchange platforms has been noticed.

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Key players operating in the health information exchange market include Allscripts Healthcare Solutions, Cerner Corporation, Intersystems, Change Healthcare, Orion Health, Eclinicalworks, Covisint, MEDITECH and Medicity. To gain a significant market share in the global health information exchange market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. MEDITECH and Change Healthcare are vital manufacturers operating in the health information exchange market.

  • For instance, in 2021, Change Healthcare launched its nationwide Clinical Data Retrieval Solution. This new cloud-based interoperability solution allows payers to quickly and easily retrieve patient records from the electronic health record (EHR) systems.

The web portal segment dominated the market and held the largest market share of X% in 2020.

Based on application, the global health information exchange market is segmented into secure messaging and a web portal. The web portal segment dominated the market and held the largest market share of X% in 2020. This growth is attributed to the increased accessibility of patient health data accessible through patient portals.

The private segment dominated the market and held the largest market share of X% in 2020.

Based on type, the global health information exchange market is segmented into private and public. The private segment dominated the market and held the largest market share of X% in 2020. This growth is attributed to the increasing number of private healthcare information providers and the high level of physician engagement at the information system level.

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Regional Segment Analysis of the Health Information Exchange Market

  • North America (U.S, Canada, Mexico)
  • Europe (Germany, France, U.K, Italy, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • Latin America (Brazil, Argentina)
  • The Middle East and Africa (UAE, South Africa, Saudi Arabia and Rest of MEA)

Based on geography, the health information exchange market has been classified into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The North America region held the largest market share in 2020. This growth is attributed to the rising figures of accountable care organizations in Canada & the US, increasing healthcare facilities, favorable reimbursement policies, and increasing HER adoption. On the other hand, the Asia-Pacific region is witnessing significant growth is attributed to the improving healthcare infrastructure, government initiatives to support healthcare interoperability, rising prevalence of chronic diseases, and the increasing demand from key markets such as China, India, and Japan.

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About the report:

The global health information exchange market is analyzed on the basis of value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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