Sep 23, 2019   SOURCE: PR NewsWire

Healthcare Interoperability Solutions Market Worth $4.7 Billion by 2026: Grand View Research, Inc.

SAN FRANCISCO, Sept. 23, 2019 /PRNewswire/ -- The global healthcare interoperability solutions market size is expected to reach USD 4.7 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 13.0% during the forecast period. Rising focus on patient-centric care, increasing need to curb high healthcare cost, and growing government initiatives to enhance patient safety & care are some major factors driving market growth. Rising healthcare IT penetration, especially in developing economies, is further expected to create significant growth opportunities for market players. However, rising complexity due to lack of reliable data & trained professionals and increasing data privacy & safety concerns are some key factors expected to impede growth.

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Key suggestions from the report:

    --  Services segment is held the largest healthcare interoperability
        solutions market share in 2018
    --  EHR interoperability held the maximum market share in 2018 owing to high
        adoption rate in hospitals
    --  According to the Healthcare Information and Management Systems Society
        (HIMSS), more than 60% of the hospitals have adopted EHR technology
    --  According to the West Health Institute (WHI), adoption of
        interoperability solutions could lead to significant reduction in
        healthcare spending in the U.S.
    --  Semantic segment in level is anticipated to witness fastest growth due
        to growing government efforts toward implementation and adoption of
        interoperability solutions across healthcare settings
    --  North America dominated the regional segment in 2018. This can be
        attributed to supportive government policies, favorable reimbursement
        schemes, rise in awareness about interoperability solutions, and
        increase in number of training programs for implementing these solutions
        across healthcare settings
    --  Asia Pacific is expected to grow with the highest CAGR of over 14.0%
        over the forecast period owing to well-established infrastructure and
        low healthcare cost in developing countries
    --  Some of the key players are Intersystems Corporation; Orion Health Group
        Limited; Infor, Inc.; Cerner Corporation; Interfaceware, Inc.;
        Allscripts Healthcare Solutions, Inc.; Nextgen Healthcare, Inc.; EPIC
        Systems Corporation; OSP Labs; Koninklijke Philips NV; Visolve, Inc.;
        and Jitterbit.

Read 100 page research report with ToC on "Healthcare Interoperability Solutions Market Size, Share & Trends Analysis Report By Type (Services), By Level (Structural), By Deployment (On Premise), By Application (Diagnosis), By End Use (Hospitals), By Region, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/healthcare-interoperability-market

Healthcare organizations are adopting Electronic Health Record (EHR) systems that support integration between different technologies/systems, increasing the need for interoperability solutions across all healthcare settings. Interoperability solutions help share and access complex data. These solutions allow sharing, exchange, and reuse of data across different devices and applications, which help reduce overall healthcare expenditure.

However, to make the best use of interoperability solutions and for their effective implementation, healthcare organizations need to work holistically at data sharing & implementing strategies, spanning the complete patient care continuum. Collaboration among players is expected to be one of the key factors responsible for driving the market.

Grand View Research has segmented the global healthcare interoperability solutions market on the basis of the type, deployment, level, application, end use, and region:

    --  Healthcare Interoperability Solutions Type Outlook (Revenue, USD
        Million, 2014 - 2026)
        --  Solutions
            --  EHR Interoperability
            --  HIE Interoperability
            --  Enterprise Interoperability
            --  Others
        --  Services
    --  Healthcare Interoperability Solutions Level Outlook (Revenue, USD
        Million, 2014 - 2026)
        --  Foundational
        --  Structural
        --  Semantic
    --  Healthcare Interoperability Solutions Deployment Outlook (Revenue, USD
        Million, 2014 - 2026)
        --  Cloud Based
        --  On Premise
    --  Healthcare Interoperability Solutions Application Outlook (Revenue, USD
        Million, 2014 - 2026)
        --  Diagnosis
        --  Treatment
        --  Others
    --  Healthcare Interoperability Solutions End-use Outlook (Revenue, USD
        Million, 2014 - 2026)
        --  Hospitals
        --  Ambulatory Surgical Centers
        --  Others
    --  Healthcare Interoperability Solutions Regional Outlook (Revenue, USD
        Million, 2014 - 2026)
        --  North America
            --  U.S.
            --  Canada
        --  Europe
            --  U.K.
            --  Germany
            --  France
            --  Italy
            --  Spain
            --  Russia
        --  Asia Pacific
            --  Japan
            --  China
            --  Australia
            --  India
            --  Singapore
        --  Latin America
            --  Brazil
            --  Mexico
        --  Middle East & Africa
            --  South Africa
            --  Saudi Arabia
            --  UAE

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.