The global Healthcare Interoperability Solutions Market is forecasted to expand at 14.5% CAGR to reach a market valuation of USD 16.2 billion by the end of 2033, up from USD 3.7 billion that was recorded for 2022.
The government's efforts to improve patient care and safety, the growing need to lower healthcare costs, and government funding for healthcare interoperability all contributed to the market expansion
| Attribute | Details |
|---|---|
| Healthcare Interoperability Solutions Market Size (2023) | USD 4.2 Billion |
| Forecasted Market Value (2033) | USD 16.2 Billion |
| Value CAGR (2023 to 2033) | 14.5% |
| Collective Value Share: Top 5 Countries (2022) | 54.8% |
| Key Market Players | Allscripts Healthcare Solutions, Epic Systems Corporation, Cerner Corporation, Inc., Infor, Inc., Koninklijke Philips NV, Orion Health Group Limited, Quality Systems, Inc., OSP Labs, ViSolve, Inc., InterSystems Corporation, iNTERFACEWARE |
Healthcare interoperability solutions aid in the understanding of the effectiveness of the pharmaceuticals produced and the capacity of the healthcare system to deliver these medications to individuals in need. T
he information that supports public health is essential. As a result, it is projected that the market for healthcare interoperability solutions will continue to expand consistently over the coming years.
It is observed that especially in developed economies, healthcare expenses have risen over the past few years.
The Organization for Economic Co-operation and Development (OECD) estimates that in developed countries, public spending on healthcare and long-term care accounted for around 6% of GDP in 2018 and is projected to increase to 9% by 2030 and 14% by 2060.
According to this new healthcare interoperability solutions market survey report by Future Market Insights, the global market has huge growth potential since the demand for healthcare is rising.
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The market for healthcare interoperability solutions market expanded at a CAGR of 12.2% during the historic period (2017 to 2022) and reached a market value of USD 3.7 billion in 2022.
The global healthcare interoperability solutions market contributes around 49.6% to the global healthcare services market value at about USD 7.5 Billion in 2022
The government is encouraging information interoperability through programs and campaigns as the demand for high-quality healthcare rises. These efforts by the government and public organizations are anticipated to support the market.
As the world's population ages and people are living longer, interoperability and data sharing will be more essential to providing better healthcare and have a major influence. This will enable the market to grow quickly.
One of the latest trend and a key driver in the market for healthcare interoperability solutions is the use of cloud technology for healthcare services.
The amount of data in electronic health records is increasing enormously, making it challenging to store significant amounts of data securely without facing the risk of losing crucial data.
It is challenging to share significant amounts of data in offline modes too. Software for healthcare interoperability is therefore becoming more and more important and necessary. The market has increased as a result of its facilitation of massive data sharing and storage.
The amount of healthcare data in the growing economies is further expected to increase as the populations rises.
Government attempts to install interoperable solutions, an increase in government spending on healthcare systems, and the growing acceptance of automation technology all together indicate to a significant growth opportunity for market players across these countries.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 9.71% |
| Jul to Dec (H2), 2021 (A) | 12.59% |
| Jan to Jun (H1),2022 Projected (P) | 9.76% |
| Jan to Jun (H1),2022 Outlook (O) | 10.20% |
| Jul to Dec (H2), 2022 Outlook (O) | 12.60% |
| Jul to Dec (H2), 2022 Projected (P) | 11.80% |
| Jan to Jun (H1), 2023 Projected (P) | 10.18% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 44↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 49↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 79↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | 01↑ |
One of the significant obstacle to the market for healthcare interoperability solutions may not be technological but rather cultural.
Similar to other industries, the lack of standards for data transmission, management, and storage between EHR systems makes interoperability in healthcare dependent on the close coordination and collaboration of numerous stakeholders, including patients, providers, solution providers, and health information technology (IT) professionals.
Healthcare information interoperability market growth will be greatly impacted by the extremely slow rate at which EHR interoperability solutions are being established in emerging markets.
Throughout the forecast period, market expansion may be hampered by developing economies' limited awareness of healthcare information interoperability programming.
Because of a lack of awareness, the scarcity of interoperable solutions, interoperability solutions in the healthcare sector are still in their infancy in the majority of emerging markets and have very low market presence in underserved areas.
With digital interoperability solutions in healthcare, healthcare providers have been exploring with video conferencing, interoperability software, and phonic conversations, propelling this market to a high growth stage.
Healthcare interoperability technologies are anticipated to reduce the costs of delayed diagnosis and therapy by enabling real-time data access. The future of healthcare depends on sharing data throughout the value stream and integrating all medical devices.
Currently, healthcare is focused on a curative care approach, but data-driven technologies can change this into an exclusively preventive care paradigm, which will create lucrative potential for the market.
The global market for healthcare interoperability solutions is anticipated to develop over the course of the forecast period as more healthcare IT systems are installed around the globe in healthcare settings. For instance, to digitize the health data and processes, hospitals and healthcare organizations around the world are using healthcare IT solutions like EHR systems.
With the intention of streamlining the time-consuming and laborious searching for employee welfare and healthcare programs, SANA Health Solutions announced the launch of their digital healthcare company in June 2022. SANA Health Solutions has worked with 15 healthcare organizations to provide a great customer experience as well.
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| Country | The United States |
|---|---|
| Market Share (2023) | 35.3% |
| Market Share (2033) | 36.0% |
| BPS Analysis | 71 |
| Country | China |
|---|---|
| Market Share (2023) | 5.9% |
| Market Share (2033) | 6.1% |
| BPS Analysis | 12 |
| Country | Germany |
|---|---|
| Market Share (2023) | 4.9% |
| Market Share (2033) | 5.2% |
| BPS Analysis | 25 |
| Country | Japan |
|---|---|
| Market Share (2023) | 4.5% |
| Market Share (2033) | 4.7% |
| BPS Analysis | 23 |
| Country | India |
|---|---|
| Market Share (2023) | 4.4% |
| Market Share (2033) | 4.7% |
| BPS Analysis | 23 |
The United States is set to hold a share of around 35.3% of the global market in 2023.
Growing demand for effective healthcare services, the need to reduce healthcare costs, and successful EHR implementation by healthcare organizations are the main drivers influencing the adoption of interoperability solutions in the USA
Germany is set to hold a share of 4.9% of the global market in 2023.
In order to build better healthcare infrastructure for the incorporation of clinical data from patient care and information technology with medical research in Germany, the medical information initiative campaign was launched within the framework of the German Federal Ministry, according to an article published in the journal of Methods of Information in Medicine, 2018.
Throughout the projected period, the market in Germany will experience significant growth as a result of the ongoing trials and experimentation with interoperability solutions industry.
Japan is set to hold a share of 4.5% of the global market in 2023.
The SS-MIX2 is one such health application which is usually used as a health-related information exchange to maintain and collect clinical information from EHRs.
Other PHR health applications are also widely used in Japan. To display the clinical data of patients, PHR (personal health records) applications retrieve data from the FHIR (fast health interoperability resource) server.
This technique helps doctors and patients exchange clinical information more quickly, which lessens appointment times, lowers visit expenses, and improves patient care overall. Consequently, leading to market expansion.
Services segment is expected to hold a market share of 56.1% in 2023.
Throughout the projection period, the services segment in healthcare interoperability solutions market is anticipated to maintain its dominance. The radical shift toward cloud technology and cloud-based platforms has led to a decrease in operational costs and an increase in the efficiency and speed of business applications and processes.
The segment's expansion is further aided by the routine acquisition of services such as interoperability software upgrades and maintenance.
Based on level of interoperability, structural interoperability is expected to hold the largest market share at about 38.5% at the end of 2023.
The structural interoperability segment is anticipated to capture the majority of the worldwide market during the forecast period because to the growing adoption of technologies such as e-prescribing, which enables prescribers and pharmacists to use the same data. This has contributed to the market expansion of the segment.
Based on deployment, the on premise segment is expected to dominate globally with the market share of about 63.2% at the end of 2023.
On premise software assures that relevant information is exchanged quickly, allowing doctors and medical professionals to obtain patient data and increase the success of surgeries/procedures, operations and treatments. As a result, public hospitals with numerous specialized departments utilize on premise interoperability software more frequently.
Such software is primarily used in hospitals to share information among several departments. These are the factors boosting the segment growth.
As per end users, the healthcare providers segment is set to hold 67.6% revenue share in 2023. Healthcare interoperability solutions are expanding as a result of increased patient volumes, the need to control healthcare costs, and regulatory requirements.
The number of new participants is anticipated to expand as a result of untapped opportunities, leading to more competition in the market for healthcare interoperability solutions.
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the healthcare interoperability solutions market, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia-Pacific excluding Japan; and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, United kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Type, level of interoperability, deployment end user, and Region |
| Key Companies Profiled |
Allscripts Healthcare Solutions; Epic Systems Corporation; Cerner Corporation, Inc.; Infor, Inc.; Koninklijke Philips NV; Orion Health Group Limited; Quality Systems, Inc.; OSP Labs,; ViSolve, Inc.; InterSystems Corporation; iNTERFACEWARE |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The lack of standards for data transmission restrains growth.
Healthcare interoperability solutions and the use of cloud technology drive sales.
The United States holds a share of around 35.3% of the global market in 2023.
Germany is set to hold a share of 4.9% of the global market in 2023.
Japan is set to hold a share of 4.5% of the global market in 2023.
| Market Value for 2024 | USD 2,525 million |
|---|---|
| Market Value for 2034 | USD 4,129.80 million |
| Market CAGR (2024 to 2034) | 7.20% |
| Market Size (2024) | USD 8,131.3 million |
|---|---|
| Market Value (2034) | USD 16,603.7 million |
| Market Projected CAGR (2024 to 2034) | 7.4% |
| CAGR (2023 to 2033) | 7.2% |
|---|---|
| Market Size (2023) | USD 52.877 billion |
| Market Size (2033) | USD 105.753 billion |
| Telemedicine Equipment Market CAGR (2022 to 2032) | 17.3% |
|---|---|
| Telemedicine Equipment Market (2021) | USD 3.5 Billion |
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