DUBLIN–(BUSINESS WIRE)–The “Global Interoperability Solutions in Healthcare Market: Focus on Products, Deployment Models, Components, Regional Adoption, and Competitive Landscape – Analysis and Forecast, 2019-2025” report has been added to ResearchAndMarkets.com’s offering.
The Global Interoperability Solutions in Healthcare Market Report projects the market to grow at a significant CAGR of 5.9% during the forecast period from 2019 to 2025. The market has evolved dramatically with the increasing adoption of EHRs, emphasis on personalized care, rising healthcare expenditure, various government initiatives, and rising funding activities.
Despite the benefits of these software solutions, the major challenges in the market are the lack of national patient identifiers, monopolization of EHR industry, and lack of regulations. Some of the major opportunities for the key vendors in the market could be an investment in medical device interoperability, integration of blockchain in the interoperability solutions, and improving healthcare infrastructure in the developing economies.
Healthcare providers would hold the largest share of the market ($1.26 billion). However, in terms of growth rate, the healthcare insurance providers (payers) are likely to grow with the highest CAGR of 7% during the forecast period. In terms of the deployment model, cloud model interoperability solutions are expected to grow with a CAGR of 6.1% during the forecast period. This growth rate is primarily due to consumer preferences as these solutions free the user from application hosting, maintenance, and security aspects.
Scope of the Market Intelligence
The purpose of this study is to gain a holistic view of the global interoperability solutions in the healthcare market in terms of various influencing factors such as regional adoption trends, technological advancements, and pricing patterns.
The scope of this report constitutes an in-depth study of the global interoperability solutions in the healthcare market, including a thorough analysis of the products in the market as well as their adoption spanning different geographical regions. The market has been chiefly segmented into component type, mode of delivery, end-user, interoperability level, and region. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering the market.
The Global Interoperability Solutions in Healthcare Market can be segmented on the basis of component type, mode of delivery, end-user, interoperability level, and region. As of 2019, product providers account for $1.25 billion and are expected to reach a value of $1.7 billion by the end of 2025. In terms of growth, end-users of interoperability solutions, healthcare insurance payers, and pharmacies will achieve the highest CAGR during the forecast period, i.e. 7% and 5.9% respectively.
As of 2019, North America is the largest shareholder for the overall market and is expected to reach the value of $1.33 billion by the end of 2025 growing with a CAGR of 5.8% during the forecast period. However, a higher growth rate can be expected from the Asia-Pacific region considering its improving healthcare infrastructure, overburdened healthcare system, and focus of ASEAN countries to be recognized as a medical tourism destination.
Though the adoption rate of the interoperability solutions in healthcare has been moderate, the potential that lies in them is immense. The integration of interoperability solutions in the healthcare facility will not only improve customer experience but will also help hospitals to provide improved quality of healthcare. To make the entire patient engagement more efficient, the interoperability solutions can be integrated across various stakeholders, namely, patients, providers, payers, and pharmacies.
Key Companies in the Global Market
Some of the major key players in the global interoperability solutions in healthcare market include Epic Systems Corporation, Cerner Corporation, AllScripts Healthcare Inc, IBM, Infor, Jitterbit, Koninklijke Philips N.V., OSP Labs, eMids Technologies Inc, MphRx Inc, Orion Health, ViSolve Inc, Omnicell, Inc, and NextGen Healthcare Inc.
Key Questions Answered
- How interoperability solutions are positioned to save billions of dollars of healthcare expenditure annually? How these solutions can help in reducing healthcare expenditure for developed economies such as North America and Europe?
- Apart from the existing end-users such as care providers and patients, to what other end users can the interoperability be extended?
- How is interoperability helping in changing the business model of healthcare delivery?
- What are the major developments such as product launches, mergers and acquisitions, collaborations, and partnerships taking place in the market and how are they changing the overall dynamics of the interoperability solutions in the healthcare market?
- What are the major pricing strategies employed by the vendors that can significantly put pricing pressure on the competitors?
- What is the current user base of leading interoperability solutions vendors in the market?
- What are the technological and regional trends pertaining to global interoperability solutions in the healthcare market?
- What is the growth potential of the global interoperability solutions in the healthcare market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
Key Topics Covered
1 Market Definition
2 Scope of the Report
3 Research Methodology
4 Industry Analysis
4.1 Industry Trends
4.2 Regulatory Framework
4.2.1 Regulatory Framework in North America
4.2.2 Regulatory Framework in Europe
4.3 Patent Analysis
5 Competitive Landscape
5.1 Market Share Analysis
5.2 Key Developments and Strategies
5.2.1 Collaboration and Partnerships
5.2.2 Mergers and Acquisitions
5.2.3 Product Launches
5.2.4 Others (Contracts and Awards)
5.3 Product Mapping Analysis
5.4 Business Model Analysis
6 Market Dynamics
6.1 Market Drivers
6.1.1 Increasing Adoption of EHR
6.1.2 Increased Focus on Personalized Care
6.1.3 Increasing Healthcare Expenditure
6.1.4 Government Initiatives
6.1.5 Increasing Funding Activities
6.2.1 Lack of National Patient Identifier
6.2.2 Monopolization of EHR Industry
6.2.3 Lack of Regulations
6.3.1 Improving Healthcare Infrastructure in Developing Economies
6.3.2 Integration of Blockchain Technology in Interoperability
6.3.3 Medical Device Interoperability
7 Global Interoperability Solutions in Healthcare Market (By Component)
7.2.1 EHR Interoperability Solutions
7.2.2 Laboratory Information Management System (LIMS) Interoperability Solutions
7.2.3 HIE Interoperability Solutions
7.2.4 Enterprise Interoperability Solutions
7.2.5 Other (Imaging Interoperability Solutions)
8 Global Interoperability Solutions in Healthcare Market (By Deployment Model)
8.2 Cloud-Based Model
8.3 On-Premise Model
9 Global Interoperability Solutions in Healthcare Market (By Interoperability Level)
9.2 Foundational Interoperability
9.3 Structural Interoperability
9.4 Semantic Interoperability
10 Global Interoperability Solutions in Healthcare Market (By End-user)
10.3.1 Hospitals and Clinics
10.3.2 Long Term Care Centers
10.3.3 Diagnostic and Imaging Centers
11 Global Interoperability Solutions in Healthcare Market (By Region)
11.2 North America
11.4.3 South Korea
11.5.3 Saudi Arabia
18.104.22.168 South Africa
12 Company Profiles
12.1 Allscripts Healthcare Solutions Inc.
12.1.1 Company Overview
12.1.2 Role of Allscripts Healthcare Solutions in the Global Interoperability Solutions in Healthcare Market
12.1.3 Product Offerings
12.1.5 Key Insights about Financial Health of the Company
12.1.6 Recent Developments
12.1.7 SWOT Analysis
12.2 Cerner Corporation
12.3 Dell Technologies Inc.
12.4 Epic Systems Corporation.
12.5 General Electric Company (GE)
12.6 International Business Machines Corporation (IBM)
12.8 iNTERFACEWARE Inc.
12.9 InterSystems Corporation
12.11 Koninklijke Philips N.V.
12.12 Medical Information Technology Inc. (MEDITECH)
12.13 NextGen Healthcare Inc.
12.14 Omnicell Inc.
12.15 ViSolve Inc.
12.16 Company Snapshots
12.16.1 CareTech Solutions Inc.
12.16.2 eMids Technologies Inc.
12.16.3 Mobisoft Infotech LLC
12.16.4 MphRx Inc.
12.16.5 Orion Health
12.16.6 OSP Labs
For more information about this report visit https://www.researchandmarkets.com/r/ujtrqu
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Original Release: Business Wire