Global Health Information Exchange (HIE) Market Report 2021-2025 with Case Studies from Wirral University Teaching Hospital NHS Foundation Trust (UK) & Rush Health (US)
The global health information exchange market is expected to reach USD 2.0 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 12.2%.
Growth in this market can be attributed to factors such as growing need to curtail healthcare costs, focus on patient-centric care delivery, growing adoption of EHRs and other HCIT solutions, government initiatives for enhancing patient care and safety, government funding for healthcare interoperability. However, data privacy concerns, need for significant investments in infrastructure development and high cost of deployment, lack of true interoperable solutions are expected to hinder the market growth.
"The private HIE segment is expected to account for the largest share during the forecast period."
Based on the setup type, the health information exchange market is segmented into public and private HIE. The private HIE segment is expected to account for the largest share of the market in 2020. The large share and high growth can be attributed to the various advantages it offers as compared to public HIEs, such as additional functionalities and strong technical support.
"The hybrid model is expected to grow at the highest rate during the forecast period."
Based on the implementation model, the health information exchange market is segmented into centralized/consolidated model, federated/decentralized, hybrid models. The hybrid model segment is expected to account for the largest share of the market in 2020. This segment is also expected to grow at the highest CAGR during the forecast period. The large share and high growth can be attributed to the various advantages it offers as such as controlled flow of data and support to diverse communities, cost-effective database solution and is often the only choice for cost-constrained organizations.
"The directed exchange segment to account for the largest share during the forecast period'"
Based on the type, the health information exchange market is segmented into directed(push HIE), query-based (pull-HIE), consumer-mediated exchange solutions. The directed (push HIE) exchange segment is expected to account for the largest share of the market in 2020. The large share of this segment can primarily be attributed to advantages like directed exchange prevents redundant collection of information from the patient, wasted visits, medication errors, and duplication of tests.
"The web portal development application segment to account for the largest share during the forecast period"
Based on application, the HIE market is categorized into internal interfacing, workflow management, secure messaging, web portal development, patient safety, and others (personal health records and chronic disease management). The web portal development application segment is expected to is expected to account for the largest share of the market in 2020 The large share of this segment can primarily be attributed to the increasing number of physicians opting for electronic medical records which will lead to the increased demand for web-based portals for retrieving patient information.
"The portal-centric solution segment to account for the largest share during the forecast period"
Based on the solution, the market is divided into portal-centric, messaging-centric, and platform-centric solutions. Portal-centric solution are expected to account for the largest share of the global health information exchange market in 2020. The large share of this segment can be attributed to the advantages such as access to real-time information, faster data sharing, assisting in smooth operations, and ease of evaluating risks.
"The healthcare provider segment to account for the largest share during the forecast period'"
Based on end users, the market is divided into healthcare providers, healthcare payers, and pharmacies. Healthcare providers segment is expected to account for the largest share of the global health information exchange market in 2020. The large market share of this segment can be attributed to the growing focus of providers on patient satisfaction and quality of care delivered, government initiatives and incentives programs, and growing need to improve the affordability and accessibility of healthcare services.
Some of the prominent players operating in the health information exchange market include Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), Health Catalyst (US), Intersystems Corporation (US),Epic Systems Corporation (US), MEDITECH (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Global Health Information Exchange Market Overview: Emphasis on Cost Control is Expected to Drive the Health Information Exchange Market 4.2 North America: Health Information Exchange Market, by Setup Type, 2019 4.3 Health Information Exchange Market, by Implementation Model: Hybrid Models Accounted for the Largest Market Share in 2020 4.4 Health Information Exchange Market: Geographic Growth Opportunities: Asia-Pacific to Witness the Highest Growth During the Forecast Period
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Government Support for the Adoption of Emr Solutions 5.2.1.2 Growing Focus on Patient-Centric Care Delivery 5.2.1.3 Need to Curtail Healthcare Costs 5.2.1.4 Government Initiatives for Enhancing Patient Safety and Care 5.2.1.5 Government Funding for Healthcare Interoperability 5.2.2 Restraints 5.2.2.1 Need for Significant Investments in Infrastructure Development and High Cost of Deployment 5.2.2.2 Lack of True Interoperability Solutions 5.2.2.3 Use of Outdated Legacy Systems 5.2.3 Opportunities 5.2.3.1 Improving Healthcare Infrastructure in Emerging Markets 5.2.4 Challenges 5.2.4.1 Data Privacy Concerns 5.3 Impact of COVID-19 on the Health Information Exchange Market 5.4 Ecosystem Analysis 5.5 Technology Analysis 5.6 Rules & Regulations 5.6.1 Cms Interoperability and Patient Access Final Rule 5.6.2 Cms Interoperability and Prior Authorization Proposed Rule 5.6.3 Office of the National Coordinator for Health Information Technology's (ONC) 21St Century Cures Act Final Rule 5.6.4 General Data Protection Regulation (GDPr) 5.7 Pricing Analysis 5.8 Case Studies 5.8.1 Wirral University Teaching Hospital Nhs Foundation Trust (Uk) 5.8.2 Rush Health (Us)
6 Health Information Exchange Market, by Setup Type 6.1 Introduction 6.2 Private HIE 6.2.1 Private HIE Segment Commanded the Largest Share of the Health Information Exchange Market 6.3 Public HIE 6.3.1 Government Funding to Support the Growth of the Public HIE Market
7 Health Information Exchange Market, by Implementation Model 7.1 Introduction 7.2 Hybrid Models 7.2.1 Hybrid Models Commanded the Largest Share of the Health Information Exchange Market 7.3 Centralized Models 7.3.1 Privacy and Security Concerns Are the Major Factors Hindering the Adoption of Centralized HIE Models 7.4 Decentralized/Federated Models 7.4.1 Benefits Such as Real-Time Updated Data Availability and Increased Security Are Driving the Adoption of Decentralized HIE Models
8 Health Information Exchange Market, by Type 8.1 Introduction 8.2 Directed Exchange 8.2.1 Directed Exchange Segment Commanded the Largest Share of the Health Information Exchange Market 8.3 Query-Based Exchange 8.3.1 Query-Based Exchange Segment to Register the Highest Growth Rate During the Forecast Period 8.4 Consumer-Mediated Exchange 8.4.1 Growing Patient-Physician Interaction to Drive the Popularity of Consumer-Mediated Exchange Solutions
9 Health Information Exchange Market, by Application 9.1 Introduction 9.2 Web Portal Development 9.2.1 Web Portal Development Applications to Command the Largest Share of the Health Information Exchange Market 9.3 Workflow Management 9.3.1 Better Decision-Making for Enhanced Patient Care to Drive the Market for Workflow Management Applications 9.4 Secure Messaging 9.4.1 Ability to Provide Secure Communication Within and Outside the Care Network is a Major Factor Driving the Adoption of Dsm Among Providers and Payers 9.5 Internal Interfacing 9.5.1 Internal Interfacing Segment to Register the Highest Growth Rate During the Forecast Period
10 Health Information Exchange Market, by Solution 10.1 Introduction 10.2 Portal-Centric Solutions 10.2.1 Portal-Centric Solutions to Dominate the Health Information Exchange Market During the Forecast Period 10.3 Messaging-Centric Solutions 10.3.1 High Performance and Reliability of Messaging-Centric Solutions to Drive Market Growth 10.4 Platform-Centric Solutions 10.4.1 Platform-Centric Solutions to Register the Highest Growth Rate During the Forecast Period
11 Health Information Exchange Market, by End-user 11.1 Introduction 11.2 Healthcare Providers 11.2.1 Healthcare Providers Commanded the Largest Share of the Health Information Exchange Market 11.3 Healthcare Payers 11.3.1 Effective Management of Patient Health Records and Claims Processing and Reimbursement Tasks to Drive the Adoption of HIE by Healthcare Payers 11.4 Pharmacies 11.4.1 Focus on Providing Individualized Care and Support to Patients to Drive the Adoption of HIE Among Pharmacies
