The health information exchange market is projected to reach USD 2.0 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 12.2% during the forecast
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Health Information Exchange Market Size, Share | 2020-2025
1. Health Information Exchange Market
Global Forecast to 2025
Health Information Exchange Market is
expected to reach
$2.0 Billion by 2025
Growing at a
CAGR of 12.2% (2020 – 2025)
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2. CAGR of 12.2%
HEALTH INFORMATION EXCHANGE (HIE) MARKET WORTH $2.0 BILLION BY
2025
2022-2025
CAGR
Intersystems Corporation (US)
MEDITECH(US)
Epic Systems Corporation (US)
Need to control
healthcare costs
Based on application, the
internal interfacing segment
is projected to witness the
highest CAGR during the
forecast period
Based on the end user, the
healthcare provider segment
is expected to hold the
largest share in 2022
North America commanded the
largest share of the health
information exchange market
Growth in the healthcare
information exchange market can
be attributed to factors such as
need to curtail increasing
healthcare costs, inclination of
healthcare providers towards
patient-centric care delivery,
growing adoption of various HCIT
solutions, and increasing funding
MARKET SEGMENTATION
BY EQUIPMENT
CATEGORY:
TWO OF THE KEY DRIVERS
OF THE MARKET WILL BE:
KEY MARKET PLAYERS
MARKET OPPORTUNITY
OVER NEXT 5 YEARS
1.1Bn
2.0 Bn
0
2
4
6
2022 2027
3. Health Information Exchange (HIE) Market worth
$2.0 billion by 2025
The report "Health Information Exchange (HIE) Market by Set Up Type (Public, Private),Implementation Model ( Federated, Hybrid), Type (Pull,
Push), Application (Web Portal, Secure Messaging), Solution (Portal, Platform Centric), End User - Global Forecast to 2025" The global health
information exchange market is expected to reach 2.0 billion by 2025 from an estimated USD 1.1 billion in 2020 at a CAGR of 12.2% during the forecast
period.
Browse 141 market data Tables and 36 Figures spread through 199 Pages and in-depth TOC on "Health Information Exchange (HIE) Market by
Set Up Type (Public, Private),Implementation Model ( Federated, Hybrid), Type (Pull, Push), Application (Web Portal, Secure Messaging),
Solution (Portal, Platform Centric), End User - Global Forecast to 2025“
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/healthcare-information-exchange-market-249987292.html
4. Health Information Exchange (HIE) Market worth
$2.0 billion by 2025
Growth in the healthcare information exchange market can be attributed to factors such as need to curtail increasing healthcare costs, inclination of
healthcare providers towards patient-centric care delivery, growing adoption of various HCIT solutions, and increasing funding for healthcare
interoperability. However, high deployment costs, data privacy concerns, lack of true interoperable solutions and not so developed healthcare
infrastructure especially in developing countries are some of the factors that are likely to hinder the market growth.
The health information exchange market includes Tier I and II vendors Epic Systems Corporation (US), Cerner Coporation (US), MEDITECH(US),
and Intersystems Corporation (US) among others. The companies have a large market spread across various countries in North America, Europe,
Asia Pacific, and the Rest of the World.
5. Health Information Exchange (HIE) Market worth
$2.0 billion by 2025
Based on setup type, the private HIE segment is expected to account for the largest market 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 held the
largest share of the market in 2021 and is expected to register highest growth rate during the forecast period. The large share of this segment
can primarily be attributed factors such as rising mandates for incentive programs for providers, government initiatives to improve the quality of
care delivered to patients and curtail the soaring cost of healthcare among providers, and the growing need to improve the affordability and
accessibility of healthcare services.
Based on the implementation model, 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 projected to dominate the implementation model segment with the largest
share in 2022. Hybrid models are a mixture of centralized and decentralized architecture, where some data is stored at the HIE organization level,
while the remaining data is stored at the HIE participant level. The strong demand for these models can primarily be attributed to the controlled
flow of data associated with these models and their support to diverse communities. However, sustainability conflicts and multiple user interfaces
are the major factors restraining the growth of this market
6. Health Information Exchange (HIE) Market worth
$2.0 billion by 2025
Based on type, 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 2022. The large
share of this segment can be primarily attributed to advantages such as prevention of redundant collection of information from the patient, wasted
visits, medication errors, and duplication of tests.
Based on application, the internal interfacing segment is projected to witness the highest CAGR 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 internal interfacing application segment is expected to
witness the highest growth rate during the forecast period. The high segment growth can be attributed to the growing need to streamline
workflows and reduce healthcare costs by eliminating medication errors. The need for a trustworthy, convenient, and effective means to
exchange information with partners and colleagues further supports the market growth.
7. Health Information Exchange (HIE) Market worth
$2.0 billion by 2025
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.
Based on the end user, the healthcare provider segment is expected to hold the largest share in 2022
Based on end users, the market is divided into healthcare providers (hospitals and physicians, among others), healthcare payers (Centers for
Medicare & Medicaid Services and private insurance companies), and pharmacies. Healthcare providers dominated the global health information
exchange market in 2021 and is projected to witness the highest CAGR during the forecast period. The high growth rate of the healthcare
providers end user segment can be attributed to factors such as improved healthcare quality and outcomes, reductions in healthcare-related
costs, and improved public health reporting and monitoring.
8. Health Information Exchange (HIE) Market worth
$2.0 billion by 2025
North America held the largest share of the global health information exchange market in 2021
Geographically, the health information exchange market is segmented into North America, the Europe, Asia Pacific (APAC), and the Rest of the
World (RoW). North America accounted for the largest share of the health information exchange market, primarily due to the significant growth in
the hospital expenditure in the region, initiatives by the US government to improve patient care and patient safety, high adoption of healthcare IT
technologies, and the need to reduce healthcare costs. However, the Asia Pacific health information exchange market is anticipated to witness
the highest growth during the forecast period, owing to factors such as the growing patient volume, growing focus on healthcare digitalization, and
the rising need to reduce healthcare costs.
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).
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