Health Information Exchange (HIE) Market Growth Factors and Share by Manufacturer 2020-2024

Felton, Calif., USA, Nov. 19, 2020 — /EPR Network/ —

Global Health Information Exchange (HIE) Market is expected to witness lucrative growth over the forecast period. Need for greater access to patient health information, enhanced stakeholder’s collaboration and rising awareness of HIE technology are the key drivers leading to the market growth. Furthermore, increasing incentives by the federal government, growing investments, increasing geriatric population and raising demand for reduction in healthcare cost are the factors anticipating the demand for health information exchange.

HIE refers to the electronic mobilization of healthcare information within defined geographical area to bring stakeholders together. The stakeholders include doctors, patient, pharmacists, nurses and labs. HIE enables speedy access and sharing of patient’s clinical data to the healthcare providers for providing effective, timely and efficient delivery of care to the patient. Sharing of patient information on time helps in effective decision making, avoids readmission and medication errors, improves diagnostic rate and, decreases duplicate testing. The technology provides high standard of patient care coupled with reduction in expenses associated with physical mailing of patient records, manual printing of document and, efforts involved in recovering patients’ reports.

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On the basis of set up type, HIE market is segmented into implementation model and vendors model and, also in public and private HIE. Implementation is further classified into hybrid model, centralized model and decentralized model. Among these implementation models, hybrid model is projected to be the potential market segment as it is a combination of both decentralized and centralized model. Hence, it consists of advantages of both the models.

In set up type, private HIE is expected to dominate the market owing to the benefits associated with it such as deep commitment to a shared vision among shareholders. Shared vision include reduction in cost associated with unnecessary duplicate tests. Other benefits are steady flow of funds for development obtained from stakeholders in the private sector and physician engagement at every level of the HIE. Private HIE are growing at a rapid pace in comparison to public HIE.

The vendors’ type is further segmented into messaging centric, platform centric, portal centric, clinical data management and personal health records. Portal centric segment is considered to hold the largest market share of health information exchange and is anticipated to witness robust growth over the coming six years due to the increasing use of electronic health records in the developed countries.

The major operating companies in the market are GE Healthcare, Care Evolution, At & T Inc., Cerner Corporation, IBM Corp., Medicity, Philips, Epic Systems, InterSystems, Oracle, Kindred Healthcare, Siemens Healthcare and Orion Health.

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Health information exchange regional outlook (Revenue, USD Million, 2013 – 2024)

  • North America
  • U.S
  • Canada
  • Europe
  • UK
  • Germany
  • Asia Pacific
  • Japan
  • China
  • India
  • Latin America
  • Mexico
  • Brazil
  • MEA
  • South Africa

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