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Healthcare Information Exchange Market: Business Challenges, Emerging Technologies & Competitive Landscape

Press Release   •   Nov 22, 2016 04:48 EST

A new report by Transparency Market Research states that the global healthcare information exchange market is likely to benefit due to the rising collaborations and mergers between leading players and the startup companies. The rising need to have easy access to patient information and the increasing demand for enhanced healthcare are two of the factors, which can be credited for the growth of the global healthcare information exchange market.

As per the research conducted at Sushoo Health Information Exchange, the current methods to exchange patient information costs around US$17,160 per year, for a single clinician practice. This creates demand for efficient storage and interchange of patient information. This has boosted the demand for healthcare information exchange systems. The demand for healthcare information exchange systems is expected to increase from doctors, pharmacists, patients, nurses, and laboratories.

The report, titled “Healthcare Information Exchange Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” states that the market is likely to benefit from the rising amalgamations and partnerships between small-scale and large-scale companies. New companies are focusing on adding innovations in the existing healthcare information exchange systems. Some of the key companies listed in the report are AT&T, Inc., IBM Corporation, Medicity, CareEvolution Inc., Orion Health, GE Healthcare, InterSystems Corporation, Siemens AG, and Cerner Corporation.

Technology has assisted the startup companies to introduce cost effective software and systems to effectively share patient information across various platforms. However, high initial investment, complex technologies, and less ROI are some of the factor expected to hamper the growth of the global healthcare information exchange market.

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For a detailed analysis, the global healthcare information exchange market is segmented on the basis of vendor type, implementation model, region, and setup type. By setup type, the global market for healthcare information exchange is divided into public and private segments. By implementation type, the market is classified into a decentralized model, hybrid model, and a centralized model. Based on region, the global healthcare information exchange market is divided into Europe, North America, Latin America, Asia Pacific, and Rest of the World. In 2013, the global market was dominated by North America owing to the existence of most of the leading companies in the United States. However, Asia Pacific is likely to be the second largest market for healthcare information exchange, predicts the analysts.

The demand for customized healthcare information exchange systems is expected to increase in most of the emerging nations, which is a boon for the leading companies.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.