Global Healthcare Data Interoperability Market is Segmented By Level (Foundational, Structural, Semantic, Organizational), By Type (Solutions (EHR Interoperability, HIE Interoperability, Others, Services), By End User (Healthcare Providers, Healthcare Payers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview
Global Healthcare Data Interoperability Market reached US$ YY billion in 2023 and is expected to reach US$ YY million by 2031 growing at a CAGR of YY% during the forecast period 2024-2031.
Healthcare Interoperability refers to timely and secure access, integration, and use of electronic health data so that it can be used to optimize health outcomes for individuals and populations. Interoperability modernizes systems communications for better and quicker access to patient files across multiple healthcare facilities by using a common language.
Interoperability can help enhance patient data privacy and security by requiring organizations to fully assess how their private health information is being used and shared. The major role is to ensure that the data that is being transmitted and received are usable and immediately available to share.
Healthcare Data Interoperability Market Scope
| Metrics | Details |
| CAGR | YY% |
| Market Size Available for Years | 2022-2031 |
| Market Estimation Forecast Period | 2024-2031 |
| Revenue Units | Value (US$ Mn) |
| Segments Covered | Level, Type, End User |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Healthcare Data Interoperability Market Dynamics
The increasing adoption of digital healthcare solutions
The increasing adoption of digital healthcare solutions acts as a significant driver for market growth. Interoperability and data sharing will become increasingly important for delivering effective healthcare as populations worldwide age and people live longer lives. Interoperability enables organizations to examine data trends and past performance and make data-driven improvements in patient care and other areas.
For instance, in March 2023, EHR vendor NextGen Healthcare launched the Mirth Cloud Connect, a cloud-based solution that aims to streamline healthcare interoperability. The tool integrates patient data flow from multiple trusted sources for actionable insights at the point of care.
Additionally, in April 2023, Particle Health released a new feature called Particle for Platforms, which uses a single API to provide software-enabled healthcare organizations with interoperability. Along with access to other useful data sources, the service offers an interoperability gateway that connects to CommonWell Health Alliance, Carequality, and eHealth Exchange.
Furthermore, significant growth drivers such as increased investments to improve healthcare facilities, and favorable government initiatives to improve patient care are expected to drive the market in the forecast period.
Challenges associated with interoperability solutions
Despite the advancement and adoption of EHR technology, these systems continue to contribute to data silos, making interoperability a significant challenge. For instance, the lack of a national patient identifier is one of the most significant barriers to true EHR interoperability (NPID) where EHRs are the primary repositories and means of access to patient and health data, a major issue is the inability to identify patients and match patient records across and within healthcare provider settings.
Segment Analysis
The global healthcare data interoperability market is segmented based on level, type, end user, and region.
The EHR Interoperability segment accounted for approximately 48.5% of the market share
The EHR Interoperability segment is expected to hold the largest market share over the period forecast. Interoperable electronic health records (EHR) enable the electronic sharing of patient information between different EHR systems and healthcare providers, making it easier for doctors to provide care to their patients and move in and out of different care facilities. EHR is widely regarded as one of the simplest and most secure options that do not result in information blocking.
For instance, in May 2021, Automation Anywhere, Inc. launched its new cloud-based Epic Fast Healthcare Interoperability Resources (FHIR) API Bot to automate access to electronic health records (EHR) for Epic Systems which is one of the largest EHR vendors in the United States.
Additionally, in April 2023, Intermountain Health medical informaticists developed a clinical decision support platform that uses evidence-based medicine and artificial intelligence to accelerate patient treatment and integrate with electronic health records in real-time. Hence, due to the above factors, the segment is expected to hold the largest market share.
Geographical Analysis
North America is expected to hold a significant position in the global healthcare data interoperability market share
North America has maintained a significant market proportion due to factors such as the rising demand for digital healthcare services, product launches, and increasing healthcare expenditure, this trend is anticipated to continue throughout the forecast period.
For instance, in February 2023, Redox, a leader in healthcare interoperability, and Google Cloud partnered to simplify the exchange of healthcare data so organizations can make better and faster decisions.
Additionally, in July 2023, GroundGame.Health (GGH) in partnership with USAing launched the new interoperability and data affinity group at the 2023 conference and tradeshow.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant positive impact on the global healthcare data interoperability market. From comprehending a single patient's entire medical journey to analyzing aggregated data at the community level, frontline providers and researchers require access to the most comprehensive data sets available to track the disease, determine which protocols are most effective, and stay ahead of the virus.
Interoperability has many benefits for measuring vaccine efficacy at the population level. Scientists can study the impact of vaccines on different populations and the implications of distribution inequities in traditionally underserved populations when data can be shared at the macro level.
Competitive Landscape
The major global players in the market include Koninklijke Philips N.V., Epic Systems Corporation, Veradigm LLC, Cerner Corporation, Orion Health, OSP Labs, CES Limited, NextGen Healthcare Inc., ViSolve Inc., and InterSystems Corporation among others.
Key Developments
- In October 2023, Philips introduced the interoperability of Philips Capsule Medical Device Information Platform (MDIP) with Philips Patient Information Center iX by providing hospitals with a first of its kind.
Why Purchase the Report?
- To visualize the global healthcare data interoperability market segmentation based on type, capsule size, end user and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of healthcare data interoperability market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global healthcare data interoperability market report would provide approximately 61 tables, 63 figures, and 185 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
