Healthcare Information Exchange (HIE) is a type of health record system that is generally utilized by healthcare experts to allow the stability of care. The technology helps in the exchange of important data between patients, doctors, healthcare providers, and hospitals. The precise and accurate records help providers to make better and faster decisions for the treatment effectively.
The rising penetration of IT in the healthcare industry that leads to the use of telehealth services, mobile technology, and electronic medical records are some of the key contributing factors to the rising demand in the global healthcare information exchange market. In addition, a large amount of data is produced in healthcare companies comprising medication history, syndromic surveillance, clinical results, public health data, immunizations, documentation, notes, clinical information, electronic prescription, etc. This generates the urgent need to sort and store the data for seamless working, standardization, and interoperability, which is provided by the healthcare information exchange system.
Moreover, HIE holds an important place in reducing medical errors, propelling the quality & safety of patient care, and reducing unnecessary paperwork. It also helps easy installation of healthcare facilities by enabling the decision-making tools. Attributed to all these factors the global healthcare information exchange market is likely to register a significant demand in the forthcoming years. On the flip side, weak policies, laws, privacy & security concerns and excessive deployment expenses are some of the aspects that are likely to hamper global market growth.
The global healthcare information exchange market is mainly segmented into type, setup type, end-users, solution type, application, implementation model, and region. On the basis of set up type, the global market is bifurcated into private and public. As per the type segment, the market is divided into push and pull. Based on implementation model, the global market is segmented into hybrid and federated. In terms of application, the global market is classified into secure messaging and web portals. On the basis of solution type, the global market is categorized into platform-centric and portal. The end-user segment is segregated into healthcare payers, pharmacies, and healthcare providers.
Geographically, the global healthcare information exchange market is expected to be led by North America during the forecast period owing to the high-class healthcare infrastructure in the region. Moreover, an increasing number of people are adopting digital healthcare facility which is another factor behind the market growth in the region. Rising initiatives to adopt EHR in the countries like Japan and Russia, coupled with the rising investments in the healthcare sector in India and China are making the Asia Pacific a second leading region in the global market. Besides, Europe is also foreseen to register a significant growth rate in the coming years.
The leading players operating in the global healthcare information exchange market are eClinicalWorks, Relayhealth Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Infor, Inc., NextGen Healthcare Information Systems, and Orion Healthcare.