[218+ Pages Report]According to a market research study published by Facts and Factors, the demand analysis of Global Healthcare Information Exchange (HIE) Solutions Market size & share revenue is estimated to grow about USD 632.03 million by 2028, at a CAGR of approximately 12.10% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Health Catalyst (U.S.), Intersystems Corporation (U.S.), MEDITECH (U.S.), and Others.
NEW YORK, United States, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Healthcare Information Exchange (HIE) Solutions Market Size, Share, Growth Analysis Report By Type (Directed Exchange, Consumer-Mediated Exchange, and Query-Based Exchange), By Implementation Model (Centralized, Decentralized, and Hybrid), and By Solution Type (Platform-Centric, Portal-Centric, and Messaging-Centric), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Healthcare Information Exchange (HIE) Solutions Market size & share in terms of revenue was valued at USD 318.50 million in 2021 and it is expected to reach at around USD 632.03 million by 2028, growing at a compound annual growth rate (CAGR) of approximately 12.10% during the forecast period 2022 to 2028.”
What are Healthcare Information Exchange (HIE) Solutions? How big is the Healthcare Information Exchange (HIE) Solutions Industry?
The electronic transformation of healthcare-related data between medical institutions, health information organizations, and businesses that demand and regulate the exchange of this data is known as health information exchange. The timeliness, quality, safety, and cost of patient care can all be improved by the appropriate access and secure sharing of a patient's critical medical information electronically between healthcare providers such as doctors, nurses, pharmacists, and patients. The act of transferring data between two or more healthcare organizations or providers and the body in charge of facilitating the communication is referred to as "health information exchange.
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Global Healthcare Information Exchange (HIE) Solutions Market: Growth Factors
Support from the government for the use of EMR solutions
The need to reduce healthcare costs, the emphasis on patient-centered care delivery, the growing adoption of EHRs and other HCIT solutions, government initiatives to improve patient care and safety, and government funding for healthcare interoperability are some of the factors driving this market's growth.
Another force behind the growth of the health information exchange business is the growing demand to reduce the costs related to maintaining paper-based patient health records. Additionally, research cited by NCBI found that obtaining information from electronic health records is much quicker and simpler than doing so with traditional physical copies of records. Through the course of the projection period, this is anticipated to increase demand for HIE systems. Hospitals must invest significantly in infrastructure development, such as increasing their data storage and processing capacity, to integrate EHR solutions properly. The already limited financial resources of healthcare providers make it difficult to invest in developing such infrastructure.
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Healthcare Information Exchange (HIE) Solutions Market: COVID-19 Impact Analysis
The COVID-19 pandemic has prompted significant technological advancements that will lead to better medical care. As a result of the circumstance, the majority of firms within the healthcare industry have made it a priority to adhere to data interoperability standards. The requirement for a greater social distance between physicians and patients has also increased, which has increased the demand for telehealth and remote patient monitoring solutions, in addition to the requirements for the accurate and timely transfer of patient health records. In this context, the health information exchange, which provides a framework for greater safety in the transfer, sharing, and retrieval of electronic health information, is helpful. These technologies make it possible for healthcare professionals and patients to readily communicate with one another and assess health-related data for the purpose of utilising it in clinical decision-making and other contexts.
The Healthcare Information Exchange (HIE) Solutions market is segregated based on type, Implementation model, and solution type.
The type of market is segmented into Directed Exchange, Consumer-Mediated Exchange, and Query-Based Exchange. The Directed exchange has the most substantial market share in this segment owing to the trend of passing the documents to the physicians and point-to-point transaction support.
Based on Implementation Model, the market is divided into Centralized, Decentralized, and Hybrid. The implementation model segment's hybrid model segment, which currently has the greatest market share, is anticipated to expand at the highest CAGR throughout the projection period. The hybrid model combines centralized and decentralized models and has advantages like a huge data storage capacity and cheaper cost, which makes it easier for the utilization rate to expand.
Based on Solution Type, the market is classified into Platform-Centric, Portal-Centric, and Messaging-Centric. According to solution type, the market for health information exchange was dominated by the portal-centric category. A significant proportion can be ascribed to the increase in online portal improvements that make it easier and more convenient to get medical information.
The global Healthcare Information Exchange (HIE) Solutions market is segmented as follows:
By Implementation Model
By Solution Type
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Some of the main competitors dominating the global Healthcare Information Exchange (HIE) Solutions market include -
Epic Systems Corporation (U.S.)
Cerner Corporation (U.S.)
Health Catalyst (U.S.)
Intersystems Corporation (U.S.)
Key Insights from Primary Research:
According to the analysis shared by our research forecaster, the Healthcare Information Exchange (HIE) Solutionsmarket is likely to expand at a CAGR of around 12.10% during the forecast period (2022-2028).
In terms of revenue, the Healthcare Information Exchange (HIE) Solutions market size was valued at around US$ 318.50 million in 2021and is projected to reach US$ 632.03 million by 2028.
Based on type segment, the Directed exchange has the most substantial market share.
The implementation model segment's hybrid model segment had the most market share and is predicted to expand at the highest CAGR throughout the projected period.
North America had the highest global market revenue share for health information exchange.
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Key questions answered in this report:
What is the market size and growth rate forecast for Healthcare Information Exchange (HIE) Solutions industry?
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Due to the increasing numbers of accountable care organizations in the US and Canada, which led to the largest share of healthcare facilities, North America accounts for the highest percentage of the global market for health information exchange. A few more factors for North America's dominant market share include favorable settlement policies and the growing use of the Health Information Exchange. On the other hand, Asia-Pacific is anticipated to experience the fastest growth between 2020 and 2025. The expansion of the health information exchange market in this area is being fueled by factors including rising population levels, increased awareness among healthcare professionals of healthcare information exchange systems, and various government initiatives.
Rest of North America
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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In order to provide advanced bidirectional interoperability, E Clinical Works announced a collaboration with Humana Inc., a top health and wellness company, Guide Well, the parent company of a family of innovative businesses focused on transforming healthcare, and Trusted Health Plan, a provider of Medicaid and Alliance Benefits in the year 2019.
Practice Fusion, a provider of electronic medical records based in San Francisco, was purchased by Allscripts in 2018. The goal of the acquisition was to increase Allscripts' business with independent doctors.
Market Size in 2021
USD 318.50 Million
Projected Market Size in 2028
USD 632.03 Million
CAGR Growth Rate
Key Market Players
Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Health Catalyst (U.S.), Intersystems Corporation (U.S.), MEDITECH (U.S.), and Others
By Type, Implementation Model, Solution Type, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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Market Size & Forecast by Revenue | 2022−2028
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – By Type, Implementation Model, Solution Type, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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