Healthcare Interoperability Solutions Market Growth Rate Rises Towards 14% Through 2026
The Business Research Company’s healthcare interoperability solutions market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, July 6, 2022 /PRNewswire/ — The healthcare interoperability solutions market consists of the sale of interoperability solutions by entities (organizations, sole traders, and partnerships) used in the healthcare industry. Interoperability refers to the exchange of healthcare information between two or more systems. Healthcare interoperability enables seamless data sharing across healthcare organizations with the patient’s consent. Electronic health records (EHRs) along with health information exchange (HIE) services must be optimized and adopted by every healthcare firm to implement interoperability functionalities. Interoperability achievement depends on five key components namely, privacy and security, standards, rules of engagement, adoption & optimization, and financial & clinical incentives.
The global healthcare interoperability solutions market size is expected to grow from $3.4 billion in 2021 to $3.85 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The global healthcare interoperability solution market size is expected to grow to $6.44 billion in 2026 at a CAGR of 13.7%.
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Interoperability Solutions Market Segmentation
1) By Type: Software Solutions, Services
2) By Software Solution: Electronic Health Record (EHR) Interoperability Solutions, Lab System Interoperability Solutions, Imaging System Interoperability Solutions, Healthcare Information Exchange Interoperability Solutions, Enterprise Interoperability Solutions, Others
3) By Level of Interoperability: Foundational Interoperability, Structural Interoperability, Semantic Interoperability
4) By End-User: Healthcare Providers, Healthcare Payers, Pharmacies
Healthcare Interoperability Solutions Market Growth Drivers
The government initiatives to enhance patient care and safety are expected to propel the growth of the healthcare interoperability solutions market over the coming years. The shortcoming in the healthcare systems is arising due to increasing demand in public with the COVID-19 pandemic. Government authorities across the globe such as the Canter for Medicare & Medicaid Services (CMS) have set the goal of increasing healthcare availability by implementing advanced technologies to better treat the patients. For instance, in May 2020, CMS Interoperability and Patient Access Final Rule is published by CMS. The rule is promoting the policies that enable advanced interoperability and access to health information for all stakeholders.
Healthcare Interoperability Solutions Industry
North America was the largest region in the healthcare interoperability market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global healthcare interoperability solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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