Newark, NJ, June 24, 2021 (GLOBE NEWSWIRE) – According to report released by Fior Markets global healthcare data interoperability market is projected to increase from $ 2.83 billion in 2020 to $ 5.80 billion by 2028, increasing at a CAGR of 9.38% over the forecast period 2021-2028.
Major drivers of the growth in the healthcare interoperability market include a growing focus on patient care, a growing need to reduce healthcare costs, and government actions to improve the treatment experience for patients. System interoperability, information exchange and data availability are important factors in improving health outcomes. Individual health data is being mobilized across the spectrum of service providers in health organizations to enable coordinated, safe, quality care that supports payment reforms, transparency efforts and the individual’s ability to control their health.
In healthcare, interoperability simply refers to the ability of a device or system to exchange and use electronic data from other devices and systems without any special human effort. Healthcare Interoperability, also known as Healthcare Data Interoperability, refers to the technologies used in patient care to enable the exchange of data to achieve the goals of individualized treatment and effective population health management.
The use of EHR software is increasing in both developed and emerging markets, which will benefit the healthcare data interoperability industry. Due to the growing need for effective health services, data interoperability software has gained popularity in recent years. Rising healthcare spending will drive demand for data interoperability software that will enable healthcare facilities to access patient medical data, reduce the frequency of retesting, and make it easier for healthcare professionals to coordinate across departments.
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Major players in the global Healthcare Data Interoperability Market include Orion Health, Allscripts, Cerner Corporation, Smith Medical, and Teletracking Technologies. In order to gain significant market share in the global health data interoperability market, the main players are now focused on executing strategies such as product innovation, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
The basic interoperability segment is expected to be worth around $ 2.13 billion by 2028
The level segment consists of Fundamental, Semantic, Structural. By 2028, the value of the basic interoperability segment is expected to be around $ 2.13 billion. Basic interoperability software is used by small hospitals and clinics that cannot afford structural and semantic interoperability software.
The cloud-based segment is expected to hit the highest value of 3.40 billion by 2028
Based on the deployment, the market has been divided into on-premise, cloud-based. By 2028, the cloud-based interoperability software industry is projected to peak at around $ 3.40 billion. The wealth of advantages that cloud-based software offers can be associated with a robust segment expansion.
The treatment segment is expected to have the highest share of 52.06% by 2028
The application segment includes treatment, diagnosis. By 2028, the treatment segment is expected to have the largest market share with 52.06%. The number of those treated is increasing as reimbursement is offered for a large number of chronic diseases.
Hybrid segment is expected to have the largest market share of 39.48% in 2028
The model segment includes centralized, decentralized, hybrid. The hybrid segment is expected to have the largest market share with 39.48% by 2028. This type of model helps in creating a virtual data center that does not require the use of a separate consolidated data center such as a computer center. A centralized system, thereby reducing time delays.
The outpatient surgical center segment is expected to have the highest share of 57.05% by 2028
On the basis of end-users, the market has been divided into hospitals and outpatient surgical centers. By 2028, outpatient surgical centers will have the highest market share at 57.05%. Outpatient surgical centers have a number of advantages, including low cost and quality care, which are likely to lead to an increase in surgical treatment preference in the coming years. In the forecast period, the expansion of the segment will be driven by an increase in the number of interventions and the associated collection of massive amounts of patient data.
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Regional segment analysis of the Healthcare Data Interoperability Market
- North America (USA, Canada, Mexico)
- Europe (Germany, France, Great Britain, Italy, Spain, rest of Europe)
- Asia Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and the rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global Health Data Interoperability Market is segmented into North America, Europe, South America, Asia-Pacific, and the Middle East and Africa. The Asia-Pacific Health Data Interoperability Market is projected to peak at 1.46 billion by 2028. Major factors driving regional growth include increasing medical tourism, increasing demand for better health care, and expanding government investment in health care facilities. A large patient pool in densely populated countries like China and India generates a significant amount of patient data every year, which requires effective data exchange between hospitals and pharmacies.
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About the report:
Global Health Data Interoperability Market is analyzed on the basis of value (Billion USD). All segments were analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the driving factors, opportunities, restraints, and challenges to produce key insights into the market. The study includes Porter’s five forces model, an attractiveness analysis, a raw material analysis and an analysis of the competitive position grid.
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