PUBLISHER: Allied Market Research | PRODUCT CODE: 1414778
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414778
According to a new report published by Allied Market Research, titled, "Health Information Exchange Market," The health information exchange market was valued at $1.5 billion in 2022, and is estimated to reach $3.8 billion by 2032, growing at a CAGR of 9.6% from 2023 to 2032. The Health Information Exchange Market is likely to experience a significant growth rate of 9.6% from 2023-2032 owing to increase in demand for health information exchange solutions from healthcare sector - Allied Market Research
HIE facilitates better communication and information sharing among healthcare providers, leading to improved care coordination. This is especially crucial for patients receiving care from multiple providers or across different healthcare organizations. In addition, advances in information technology, including interoperability standards and secure data exchange protocols, contribute to the growth of the health information exchange market. The evolution of electronic health record (EHR) systems and other health IT infrastructure supports the seamless sharing of health information. Furthermore, the healthcare industry is increasingly recognizing the value of data-driven decision-making. HIE provides a platform for aggregating and analyzing health data, offering valuable insights for public health research, epidemiology, and population health management. However, lack of awareness about advanced technologies in emerging countries are likely to restrain the market growth during the forecast period.
The health information exchange market is segmented into exchange type, implementation model, setup type, end user, and region. By exchange type, the market is segregated into directed exchange, query-based exchange, and consumer mediated exchange. As per implementation model, the market is categorized into hybrid, centralized, decentralized/federated. According to setup type, the market is bifurcated into private and public. Depending on end user, the market is classified into healthcare providers, healthcare payers, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East Africa).
Major key players that operate in the health information exchange market are EPIC Systems Corporation, Health Catalyst, Inc, Koninklijke Philips N.V., Siemens, Medical Information Technology, Inc., Oracle, Veradigm LLC, Aigilx Health, Orion Health group of companies, and Chetu Inc. Key players have adopted product launch, partnership, agreement, and collaboration as key developmental strategies to improve the product portfolio of the health information exchange market. For instance, in November 2022, MEDITECH announced that HCA Healthcare, one of the nation's leading providers of healthcare services, had signed a new agreement for a large-scale deployment of MEDITECH Expanse. This agreement further solidifies MEDITECH and HCA Healthcare's longstanding and collaborative partnership, now spanning over 30 years.
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