Healthcare Data Interoperability Market to Garner Significant Revenues Through 2025
Category: #healthcare  By Ronak Bora  Date: 2021-03-23
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Healthcare Data Interoperability Market to Garner Significant Revenues Through 2025

Healthcare data interoperability market is poised to witness tremendous growth over the projected timeframe of 2019 to 2025, considering the rising healthcare expenditures and increased adoption of technology across several developed as well as developing nations. As per WHO statistics, in 2015, nearly 10% of global GDP was spent on healthcare domain. This led to significant developments in healthcare infrastructure which opened profitable growth avenues for the hospitals and other healthcare facilities.

That COVID-19 pandemic has played a major role in the growth of the healthcare data interoperability market. The outbreak has encouraged countries to focus more on improving their healthcare infrastructure and support the betterment of their economy. Supportive initiatives by governments and steady investments have helped healthcare organizations to afford technologically advanced clinical interoperability software for secured data exchange and regimented services.

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One of the prominent growth rendering factors for the industry is increased adoption of EHR software for  storage and maintenance of enormous patient data pertaining to chronic disorders. According to the National Health Council statistics, at present, around 133 million U.S. residents are suffering from chronic diseases. Such a considerable rise in the prevalence of chronic diseases has urged the need for high-end data management solutions.

On-premise segment, in 2018, had secured a sizeable revenue share of over 35% and is projected to grow over time. This growth can be credited to the increasing preference for on-premise deployment of interoperability systems across multi-specialty healthcare centers for improved access to patient data. On-premise software provides quick and easy inter-departmental exchange of data in large multispecialty ASCs and public. Besides, higher reliability offered by on-premise interoperability software would further instigate the product adoption leading to enhanced segment growth.

Diagnosis segment is estimated to register a significant growth rate of around 9% over the analysis period owing to elevating demand for diagnostic tests due to rising prevalence of chronic diseases such as diabetes and cancer. In addition, in lieu of the  known benefits of early diagnosis, people prefer to get screened at initial stages which provides enormous patient data to diagnostic centers. This data in turn is shared among the healthcare organizations which helps them to deliver enhanced customer experience.

Rising cases of chronic diseases could make EHR software crucial for storing patient data. Safe and actual data transmission competent interoperability software are also required along with EHR software. Rising demand for these software solutions could consequently enhance the growth prospects of healthcare data interoperability market over time.

Some of these industry players include Medicity, Cerner Corporation, Epic, Orion Health, Edifecs Inc Optum Insights, Allscripts, Philips, Ciox Health, Experian Health, Teletracking Technologies, Smith Medical, and Oracle.

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Partial Chapter of the Table of Content

Chapter 4.    Healthcare Data Interoperability Market, By Level

4.1. Key segment trends

4.2. Foundational

4.2.1.  Market size, by region, 2014-2025 (USD Million)

4.3. Structural

4.3.1.  Market size, by region, 2014-2025 (USD Million)

4.4. Semantic

4.4.1.  Market size, by region, 2014-2025 (USD Million)

Chapter 5.    Healthcare Data Interoperability Market, By Application

5.1. Key segment trends

5.2. Diagnosis

5.2.1.  Market size, by region, 2014-2025 (USD Million)

5.3. Treatment

5.3.1.  Market size, by region, 2014-2025 (USD Million)

5.4. Others

5.4.1.  Market size, by region, 2014-2025 (USD Million)

Chapter 6.    Healthcare Data Interoperability Market, By Deployment

6.1. Key segment trends

6.2. On-premises

6.2.1.  Market size, by region, 2014-2025 (USD Million)

6.3. Cloud-based

6.3.1. Healthcare Data Interoperability Market size, by region, 2014-2025 (USD Million)

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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