Interoperability Solution in Healthcare Market

Report ID : 1426 | Published : 2022-11-02 | Pages: 187 | Format: PDF/EXCEL

The market size of the global interoperability solution in the healthcare market in the year 2021 is valued at 2.36 billion and is predicted to reach 7.81 billion by the year 2030 at an 14.39% CAGR during the forecast period of 2022-2030.

Interoperability in healthcare refers to integrating and utilizing electronic health data and fast and secure access to enhance individual and population health outcomes. The healthcare sector is currently heavily focused on improving operational efficiency and the quality of healthcare facilities, reducing medical errors during various medical procedures, and keeping costs to a minimum. Once the data is received, these solutions can use to share health information across two or more systems. Key drivers influencing market revenue growth include rising healthcare costs, growing demand to lower these costs, government measures to improve safety and quality of care, and more. Healthcare companies are increasingly using big data analytics for sales and marketing initiatives, which is anticipated to fuel market revenue growth. The demand for interoperability solutions in healthcare among healthcare providers and healthcare payers is accelerating due to the increase in the price of various medical procedures and the decrease in reimbursements for laboratory services.

The federal government's investment in encouraging the use of these methods has a further impact on the market. The market for interoperability solutions in healthcare is also benefited from the rise in healthcare spending, improvements in the healthcare infrastructure, and rising demand for extended care delivery. However, the lack of qualified personnel to operate interoperability solutions in the healthcare market, worries about data security and privacy, and the high cost and complexity of implementing healthcare analytics solutions, and these factors are all anticipated to restrain market revenue growth throughout the forecast period.

 

Market Segmentation:

The interoperability solution in the healthcare market is segmented on level, product type, application and end-use. Based on level, the market is segmented into semantic, foundational and structural. Based on the product type, the market is segmented into services and solutions. Based on the application, the market is segmented into treatments, diagnostics and others. Based on the end-user, the market is segmented into healthcare providers, healthcare payers and life science companies.

Based on level, the semantic category is accounted as a major contributor to the interoperability solution in the healthcare market.

The semantic category dominated the market in 2021 as it permits fundamental data and system compatibility between two systems. This application makes it difficult for computers to retain, reconcile, translate and upgrade data and slows segmental progress. The sort of interoperability strategy that is now available on the market and allows for the use of more than two pathways for information sharing is semantic interoperability. Semantic interoperability enables online communication of medical details between different authorized parties and physicians across potentially incompatible electronic health records (EHR) and other platforms to improve healthcare delivery capacity, consistency, protection and efficacy.

The service category witnessed growth at a rapid rate.

The service category dominated the market in 2021. As healthcare analytics systems grow, so does the demand for services such as maintenance, implementation and consulting. This will likely boost revenue growth in the segment during the forecast period. The solution sector is predicted to rise rapidly during the forecast period, owing to the growing demand for healthcare analytics solutions to improve the efficiency of organizational operations in healthcare facilities.

The North American interoperability solution holds a significant regional revenue share in the healthcare market.

The North American interoperability solution in the healthcare market is expected to register the highest market share in revenue in the near future due to the region's extensive network of healthcare facilities and important vital actors. The usage of EHRs is expanding, and government rules on clinical care are becoming more stringent to lower healthcare costs and improve patient care in hospitals around the region. These elements are influencing the region's adoption of interoperability solutions. In addition, Asia Pacific is projected to grow rapidly in the global interoperability solution in the healthcare market due to quick advancements in healthcare and information technology, increased data collection in developed countries, and rising expenditures to support the use of advanced analytics solutions. Other trends include increased government eHealth initiatives, growing medical tourism, increased high-quality healthcare demand, and increased demand for medical equipment installation and healthcare information technology (HCIT) solutions integration to give patients access to cost-effective, high-quality care. Using these solutions to simplify healthcare procedures and lower healthcare expenses is also helping the Asia Pacific market's revenue growth.

Competitive Landscape

Key players in the interoperability solution in the healthcare market are InterSystems Corporation, Allscripts Healthcare Solutions, Cerner Corporation Inc., Orion Health Group Limited, Koninklijke Philips N.V., Epic Systems Corporation, ViSolve Inc., Infor Inc, iNTERFACEWARE and Quality Systems Inc.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Interoperability Solution in the Healthcare Market Snapshot

Chapter 4. Global Interoperability Solution in the Healthcare Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Level Estimates & Trend Analysis

5.1. by Level & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Level:

5.2.1. Semantic

5.2.2. Foundational

5.2.3. Structural

Chapter 6. Market Segmentation 2: by Product Type Estimates & Trend Analysis

6.1. by Product Type & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Product Type:

6.2.1. Services

6.2.2. Solution

Chapter 7. Market Segmentation 3: by Application Estimates & Trend Analysis

7.1. by Application & Market Share, 2019 & 2030

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Application:

7.2.1. Treatments

7.2.2. Diagnostics

7.2.3. Others

Chapter 8. Market Segmentation 4: by End-use Estimates & Trend Analysis

8.1. by End-use & Market Share, 2019 & 2030

8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by End-use:

8.2.1. Healthcare Provider

8.2.2. Healthcare Payer

8.2.3. Life Science Companies

Chapter 9. Interoperability Solution in the Healthcare Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Interoperability Solution in the Healthcare Market Revenue (US$ Million) Estimates and Forecasts by Level, 2022-2030

9.1.2. North America Interoperability Solution in the Healthcare Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2030

9.1.3. North America Interoperability Solution in the Healthcare Market revenue (US$ Million) by Application, 2022-2030

9.1.4. North America Interoperability Solution in the Healthcare Market revenue (US$ Million) by End-use, 2022-2030

9.1.5. North America Interoperability Solution in the Healthcare Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

9.2. Europe

9.2.1. Europe Interoperability Solution in the Healthcare Market revenue (US$ Million) by Level, 2022-2030

9.2.2. Europe Interoperability Solution in the Healthcare Market revenue (US$ Million) by Product Type, 2022-2030

9.2.3. Europe Interoperability Solution in the Healthcare Market revenue (US$ Million) by Application, 2022-2030

9.2.4. Europe Interoperability Solution in the Healthcare Market revenue (US$ Million) by End-use, 2022-2030

9.2.5. Europe Interoperability Solution in the Healthcare Market revenue (US$ Million) by country, 2022-2030

9.3. Asia Pacific

9.3.1. Asia Pacific Interoperability Solution in the Healthcare Market revenue (US$ Million) by Level, 2022-2030

9.3.2. Asia Pacific Interoperability Solution in the Healthcare Market revenue (US$ Million) by Product Type, 2022-2030

9.3.3. Asia-Pacific Interoperability Solution in the Healthcare Market revenue (US$ Million) by Application, 2022-2030

9.3.4. Asia-Pacific Interoperability Solution in the Healthcare Market revenue (US$ Million) by End-use, 2022-2030

9.3.5. Asia Pacific Interoperability Solution in the Healthcare Market revenue (US$ Million) by country, 2022-2030

9.4. Latin America

9.4.1. Latin America Interoperability Solution in the Healthcare Market revenue (US$ Million) by Level, 2022-2030

9.4.2. Latin America Interoperability Solution in the Healthcare Market revenue (US$ Million) by Product Type, 2022-2030

9.4.3. Latin America Interoperability Solution in the Healthcare Market revenue (US$ Million) by Application, 2022-2030

9.4.4. Latin America Interoperability Solution in the Healthcare Market revenue (US$ Million) by End-use, 2022-2030

9.4.5. Latin America Interoperability Solution in the Healthcare Market revenue (US$ Million) by country, 2022-2030

9.5. Middle East & Africa

9.5.1. Middle East & Africa Interoperability Solution in the Healthcare Market revenue (US$ Million) by Level, 2022-2030

9.5.2. Middle East & Africa Interoperability Solution in the Healthcare Market revenue (US$ Million) by Product Type, 2022-2030

9.5.3. Middle East & Africa Interoperability Solution in the Healthcare Market revenue (US$ Million) by Application, 2022-2030

9.5.4. Middle East & Africa Interoperability Solution in the Healthcare Market revenue (US$ Million) by End-use, 2022-2030

9.5.5. Middle East & Africa Interoperability Solution in the Healthcare Market revenue (US$ Million) by country, 2022-2030

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. InterSystems Corporation

10.2.2. Allscripts Healthcare Solutions

10.2.3. Cerner Corporation Inc.

10.2.4. Orion Health Group Limited

10.2.5. Koninklijke Philips N.V.

10.2.6. Epic Systems Corporation

10.2.7. ViSolve Inc.

10.2.8. Infor Inc

10.2.9. iNTERFACEWARE

10.2.10. Quality Systems Inc

10.2.11. Other Prominent Players

Segmentation of Interoperability Solution in the Healthcare Market-

By Level-

  • Semantic
  • Foundational
  • Structural

By Product Type-

  • Services
  • Solution

By Application-

  • Treatments
  • Diagnostics
  • Others

By End-Use-

  • Healthcare Provider
  • Healthcare Payer
  • Life Science Companies

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

 

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