According to a recent report by Emergent Research, the worldwide interoperability solution in the healthcare market size reached USD 3.10 billion in 2021 and is projected to grow at a revenue CAGR of 12.0% over the forecast period. Between 2022 and 2030, rising healthcare costs and government measures to improve patient safety and care quality are anticipated to boost market revenue growth. The increasing need to control healthcare spending as well as legislative initiatives to raise the standard of patient care is anticipated to fuel market revenue growth.
The ability to coordinate safe, high-quality care across the full spectrum of healthcare providers is made possible by the mobilization of individual health data, which also enhances people’s capacity to manage their health and finance reforms and transparency initiatives. However, healthcare organizations are working holistically on data transfer and implementation strategies that encompass the entire patient care continuum to make the best use of interoperability solutions and ensure their effective implementation.
EHR software adoption would help expand corporate interoperability with healthcare data in both developed and emerging nations. Due to the growing need to deliver effective healthcare services, the platform for data interoperability has attracted attention in recent years. To access patient medical information, reduce the number of redundant checks, and improve management across many business divisions, healthcare businesses will need to employ data interoperability solutions. This will help contain rising healthcare costs. However, a lack of knowledge about interoperability software for healthcare data in developing economies could impede the market’s capacity to grow in terms of revenue throughout the anticipated timeframe.
Key Highlights From The Report :
Because it enables the virtual sharing of medical information between different approved parties and clinicians, along with all compatible EHR and other programs, to increase healthcare delivery system capabilities, protection, consistency, and effectiveness, the semantic segment is anticipated to register a quick CAGR during the forecast period.
Due to the growing need for patient health information awareness and the expanding use of healthcare information technology to enhance treatment quality and patient happiness, the solutions segment is anticipated to grow quickly during the projected period.
Due to the rising demand for more effective information sharing for disease diagnosis, the diagnostics segment is anticipated to experience significant revenue growth over the forecast period. Such precise and accurate assessments allow healthcare practitioners to accurately analyze the condition of the patients, including knowledge evaluation, comprising the background of medications and allergies, the diagnostics application, etc.
Due to rising cancer incidence, increased research and innovation in interoperability solutions in healthcare, and significant government backing, the market in North America is anticipated to lead the global market over the forecast period
Some of the key players operating in the market include InterSystems Corporation, Allscripts Healthcare Solutions, Cerner Corporation Inc., Orion Health Group Limited, Koninklijke Philips NV, Epic Systems Corporation, ViSolve Inc., Infor Inc., iNTERFACEWARE, and Quality Systems Inc.
Emergen Research has segmented the healthcare analytics market based on level, product type, application, end-user, and region:
- Level Outlook (Revenue, USD Billion; 2019–2030)
- Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Application Outlook (Revenue, USD Billion; 2019–2030)
- End-use Outlook (Revenue, USD Billion; 2019–2030)
- Healthcare Provider
- Healthcare Payer
- Life Science Companies
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- the U.S.
- the U.K.
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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