Global Interoperability Solutions in Healthcare Market, 2019-2025 - Increasing Adoption of EHR / Focus on Personalized Care / Increasing Healthcare Expenditure / Increasing Funding Activities
DUBLIN, Dec. 9, 2019 /PRNewswire/ -- The "Global Interoperability Solutions in Healthcare Market: Focus on Products, Deployment Models, Components, Regional Adoption, and Competitive Landscape - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.
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The global interoperability solutions in healthcare generated a revenue of $1.62 billion in 2018 and is estimated to grow over $2.47 billion by the end of 2025.
There are multiple factors that drive the market such as increasing adoption of EHRs, emphasis on personalized care, rising healthcare expenditure, various government initiatives, and rising funding activities.
Healthcare insurance payers and pharmacies are two major end-user segments of the healthcare industry that are being revolutionized by the incorporation of interoperability solutions presently. These tools can significantly help healthcare payers in improving their reimbursement strategies and population health analysis. The introduction of interoperable solutions in pharmacies would help in the prevention of drug abuse and in keeping the care provider posted about the prescription fill-ins.
Among the different levels of interoperability, the structural interoperability (level 2 of interoperability) would be the most widely used interoperability level and would have the highest growth rate during the forecast period. Currently, the interoperability level holds 30% of the total interoperability implementation followed by semantic interoperability (29%) and foundational interoperability (21%)
The implementation of true interoperability holds the potential of changing the healthcare delivery business model from service-based to value-based.
Healthcare providers would hold the largest share of the market ($1.26 billion). However, in terms of growth rate, the healthcare insurance providers (payers) are likely to grow with the highest CAGR of 7.0% during the forecast period. In terms of the deployment model, cloud model interoperability solutions are expected to grow with a CAGR of 6.1% during the forecast period. This growth rate is primarily due to consumer preferences as these solutions free the user from application hosting, maintenance, and security aspects.
This report is a meticulous compilation of research on more than 70 players in the market ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 20 leading companies, market participants, end-users and vendors.
The report also profiles 15 companies and six company snapshots including several key players such as AllScripts Healthcare Inc, IBM, Infor, Jitterbit, Koninklijke Philips N.V., OSP Labs, eMids Technologies Inc, MphRx Inc, Orion Health, ViSolve Inc, Omnicell, Inc, and NextGen Healthcare Inc.
Key questions answered in the report:
-- How interoperability solutions are positioned to save billions of
dollars of healthcare expenditure annually? How these solutions can help
in reducing healthcare expenditure for developed economies such as North
America and Europe?
-- Apart from the existing end-users such as care providers and patients,
to what other end users can the interoperability be extended?
-- How is interoperability helping in changing the business model of
healthcare delivery?
-- What are the major developments such as product launches, mergers and
acquisitions, collaborations, and partnerships taking place in the
market and how are they changing the overall dynamics of the
interoperability solutions in the healthcare market?
-- What are the major pricing strategies employed by the vendors that can
significantly put pricing pressure on the competitors?
-- What is the current user base of leading interoperability solutions
vendors in the market?
-- What are the technological and regional trends pertaining to global
interoperability solutions in the healthcare market?
-- What is the growth potential of the global interoperability solutions in
the healthcare market in North America, Europe, Asia-Pacific, Latin
America, and Rest-of-the-World?
Market Dynamics
Market Drivers
-- Increasing Adoption of EHR
-- Increased Focus on Personalized Care
-- Increasing Healthcare Expenditure
-- Government Initiatives
-- Increasing Funding Activities
Restraints
-- Lack of National Patient Identifier
-- Monopolization of EHR Industry
-- Lack of Regulations
Opportunities
-- Improving Healthcare Infrastructure in Developing Economies
-- Integration of Blockchain Technology in Interoperability
-- Medical Device Interoperability
Companies Mentioned
-- Allscripts Healthcare Solutions, Inc.
-- Cerner Corporation
-- Dell Technologies Inc.
-- Epic Systems Corporation
-- General Electric Company (GE)
-- International Business Machines Corporation (IBM)
-- Infor
-- iNTERFACEWARE Inc.
-- InterSystems Corporation
-- Jitterbit
-- Koninklijke Philips N.V.
-- Medical Information Technology, Inc. (MEDITECH)
-- NextGen Healthcare, Inc.
-- Omnicell, Inc.
-- ViSolve Inc.
For more information about this report visit https://www.researchandmarkets.com/r/o061xf
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