What is Healthcare Data Interoperability Market?
Healthcare data interoperability includes the technologies used inpatient care to enable the sharing of data to meet the goals of delivering personalized care and effective population health management. It enhances the patient experience, reduces medical error rates and lowers healthcare costs among other benefits. The factors such as Increased Adoption of Interoperability Solutions, Increasing Technological Advancements in Healthcare IT in North America and Europe and Rising Healthcare Expenditure Globally are the key drivers for the global Healthcare Data Interoperability market. In addition, Rising Government Expenditure to Improve Healthcare Data Exchange Process in North America also fueling the market growth. However, High Cost of Healthcare Data Interoperability Software may hamper the market growth.
The market study is being classified and major geographies with country level break-up.
Epic Systems Corporation (United States), Orion Health (New Zealand), Allscripts Healthcare Solutions, Inc. (United States), Koninklijke Philips N.V. (Netherlands), Cerner Corporation (United States), Optum (United States), Smith Medical, Inc. (United States), Ciox Health (United States), Teletracking Technologies (United States) and Oracle (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Edifecs Inc (United States) and Experian Health, Inc. (United States).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Healthcare Data Interoperability market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Healthcare Data Interoperability market by Type, Application and Region.
On the basis of geography, the market of Healthcare Data Interoperability has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Adoption of Interoperability Solutions
- Increasing Technological Advancements in Healthcare IT in North America and Europe
- Rising Healthcare Expenditure Globally
Market Trend
- Rising Government Expenditure to Improve Healthcare Data Exchange Process in North America
Restraints
- High Cost of Healthcare Data Interoperability Software
Opportunities
- Increasing Number of Hospital Admissions
- Rise in the Focus on Patient-centric Care
Challenges
- Lack of Awareness about Healthcare Data Interoperability Software
Key Target Audience
Healthcare Data Interoperability Software Developers, Emerging Companies, Research Professionals and End-users