The Worldwide Health Information Exchange Industry is Expected to Reach $3.3 Billion by 2028

Dublin, Aug. 17, 2021 (GLOBE NEWSWIRE) -- The "Health Information Exchange Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Set Up, Type, Implementation Model, Application, End User, and Deployment, and Geography" report has been added to ResearchAndMarkets.com's offering.

The health information exchange market was valued at US$ 1,411.56 million in 2020 and is projected to reach US$ 3,326.98 million by 2028; it is expected to grow at a CAGR of 11.31% during 2020-2028. The market growth is primarily attributed to the rising government support for the adoption of EMR/EHR systems and growing emphasis on healthcare cost optimization. However, the data security and privacy concerns hamper the market growth.

The rapid growth of health information technology has led to the increase in exchange of patient medical information through electronic health records (EHRs). The systems can collect patient information as well as share the information with other healthcare professionals involved in the patient's care. The governments, healthcare authorities, and market players are actively supporting the adoption of EHR systems to streamline the process of healthcare activities. Moreover, the systems enable efficient data gathering and exchange, allowing healthcare professionals to enhance the quality of the treatment.

In 2009, the federal government of the US announced allocation of US$ 27.0 billion as an incentive program for hospitals and healthcare providers to encourage the adoption of EHR/EMR as a part of the Health Information Technology for Economic and Clinical Health (HITECH) Act. Moreover, additional fund allocations were announced to train and educate health information technology workers to implement EHRs to streamline the healthcare information exchange and record keeping activities.

In 2001, the government of Canada launched a strategic initiative to modernize its ICT infrastructure in healthcare and promote the adoption of EHRs. According to a data published on NCBI, in 2015, around 91.0% of the Canadians had their data registered on EHRs, and an estimated 91,000 physicians were using EHR systems for day-to-day work. Moreover, according to a survey conducted by Canadian Medical Association in 2017, around 85.0% of the physicians in the country were using EMR systems. Also, as per estimates published by the Canada Health Infoway in 2020, EHR data is available for around 93.8% Canadians.

In 2002, England announced a launch of the National Plan for IT, a new initiative to enhance the functionalities of existing healthcare system. Moreover, in 2012, the government passed the Health and Social Care Act to use patient's information for research purpose. Such initiatives in the UK are anticipated to drive the adoption of EHR systems in the country. In Germany, an estimated 90% of physicians in private practice are using EHR systems as of 2020. Further, according to a data published on NCBI in 2020, the EHR adoption rate in New Zealand has reached around 97%. Also, the government of India has launched the Transforming India Mission to generate digital health records of all the Indian citizens by 2022. Such government initiatives are expected to drive the adoption of EHR systems, which will eventually propel the growth of the health information exchange market by 2028.

The health information exchange market is witnessing substantial growth amid the COVID-19 pandemic. A few factors such as higher emphasis on the utilization of healthcare IT infrastructure for data transfer, ease of use, and cost optimization are propelling the adoption of health information exchange during the pandemic. For instance, during the pandemic, in March 2020, HealtHIE Nevada (US), increased its patient data exchange by 36% since the beginning of the COVID-19 pandemic. Due to the growing patient volumes, the demand for EMR and EHR platforms to manage complex patient data has increased, which ultimately accelerated the market growth during the pandemic.

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Key Topics Covered:

1. Introduction

2. Health Information Exchange Market - Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Global Health Information Exchange Market- Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Health Information Exchange Market in North America: PEST Analysis
4.2.2 Health Information Exchange Market in Europe: PEST Analysis
4.2.3 Health Information Exchange Market in Asia Pacific: PEST Analysis
4.2.4 Health Information Exchange Market in Middle East and Africa: PEST Analysis
4.2.5 Health Information Exchange Market in South and Central America: PEST Analysis
4.3 Expert Opinions

5. Health Information Exchange Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Government Support for Adoption of EMR/EHR Systems
5.1.2 Growing Emphasis on Healthcare Cost Optimization
5.2 Market Restraints
5.2.1 Data Security and Privacy Concerns
5.3 Market Opportunities
5.3.1 Increasing Potential in Emerging Economies
5.4 Future Trends
5.4.1 Next Generation HIE with the Help of Artificial Intelligence and Voice Recognition
5.5 Impact Analysis

6. Health Information Exchange Market - Global Analysis
6.1 Global Health Information Exchange Market Revenue Forecast and Analysis
6.2 Global Health Information Exchange Market, By Geography - Forecast And Analysis
6.3 Market Positioning of Key Players

7. Health Information Exchange Market Analysis - By Set Up
7.1 Overview
7.2 Health Information Exchange Market, by Set Up 2020 & 2028 (%)
7.3 Public
7.3.1 Overview
7.3.2 Public: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Private
7.4.1 Overview
7.4.2 Private: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)

8. Health Information Exchange Market Analysis - By Type
8.1 Overview
8.2 Health Information Exchange Market Revenue Share, by Type (2020 and 2028)
8.3 Query Based
8.3.1 Overview
8.3.2 Query-Based: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Direct Mediated
8.4.1 Overview
8.4.2 Direct Mediated: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Consumer Medicated
8.5.1 Overview
8.5.2 Consumer Medicated: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)

9. Health Information Exchange Market Analysis - By Implementation Model
9.1 Overview
9.2 Health Information Exchange Market Revenue Share, by Implementation Model (2020 and 2028)
9.3 Centralized
9.3.1 Overview
9.3.2 Centralized: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Decentralized
9.4.1 Overview
9.4.2 Decentralized: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Hybrid
9.5.1 Overview
9.5.2 Hybrid: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)

10. Health Information Exchange Market Analysis - By Application
10.1 Overview
10.2 Health Information Exchange Market Revenue Share, by Application (2020 and 2028)
10.3 Workflow Management
10.3.1 Overview
10.3.2 Workflow Management: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Internal Interfacing
10.4.1 Overview
10.4.2 Internal Interfacing: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Web Portal Development
10.5.1 Overview
10.5.2 Web Portal Development: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
10.6 Other Application
10.6.1 Overview
10.6.2 Other Application: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)

11. Health Information Exchange Analysis - By End User
11.1 Overview
11.2 Health Information Exchange Share, by End User, 2020 and 2028, (%)
11.3 Healthcare Providers
11.3.1 Overview
11.3.2 Healthcare Providers: Health Information Exchange - Revenue and Forecast to 2028 (US$ Million)
11.4 Healthcare Payers
11.4.1 Overview
11.4.2 Healthcare Payers: Health Information Exchange - Revenue and Forecast to 2028 (US$ Million)
11.5 Pharmacies
11.5.1 Overview
11.5.2 Pharmacies: Health Information Exchange - Revenue and Forecast to 2028 (US$ Million)

12. Health Information Exchange Market Analysis - By Deployment
12.1 Overview
12.2 Health Information Exchange Market Revenue Share, by Deployment (2020 and 2028)
12.3 On-Premise
12.3.1 Overview
12.3.2 On-Premise: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)
12.4 Cloud Based
12.4.1 Overview
12.4.2 Internal Interfacing: Health Information Exchange Market - Revenue and Forecast to 2028 (US$ Million)

13. Global Health Information Exchange Market - Geographical Analysis

14. Impact Of COVID-19 Pandemic on Global Health Information Exchange Market
14.1 North America: Impact Assessment of COVID-19 Pandemic
14.2 Europe: Impact Assessment Of COVID-19 Pandemic
14.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
14.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
14.5 South and Central America: Impact Assessment of COVID-19 Pandemic

15. Health Information Exchange Market- Industry Landscape
15.1 Overview
15.2 Growth Strategies Done by the Companies in the Market, (%)
15.3 Organic Developments
15.3.1 Overview
15.4 Inorganic Developments
15.4.1 Overview

16. Company Profiles
16.1 Health Catalyst, Inc.
16.1.1 Key Facts
16.1.2 Business Description
16.1.3 Products and Services
16.1.4 Financial Overview
16.1.5 SWOT Analysis
16.1.6 Key Developments
16.2 Nextgen Healthcare Information System, LLC
16.2.1 Key Facts
16.2.2 Business Description
16.2.3 Products and Services
16.2.4 Financial Overview
16.2.5 SWOT Analysis
16.2.6 Key Developments
16.3 McKesson Corporation
16.3.1 Key Facts
16.3.2 Business Description
16.3.3 Products and Services
16.3.4 Financial Overview
16.3.5 SWOT Analysis
16.3.6 Key Developments
16.4 Optum, Inc.
16.4.1 Key Facts
16.4.2 Business Description
16.4.3 Products and Services
16.4.4 Financial Overview
16.4.5 SWOT Analysis
16.4.6 Key Developments
16.5 Oracle Corporation
16.5.1 Key Facts
16.5.2 Business Description
16.5.3 Products and Services
16.5.4 Financial Overview
16.5.5 SWOT Analysis
16.5.6 Key Developments
16.6 eClinicalWorks
16.6.1 Key Facts
16.6.2 Business Description
16.6.3 Products and Services
16.6.4 Financial Overview
16.6.5 SWOT Analysis
16.6.6 Key Developments
16.7 Allscripts Healthcare, LLC
16.7.1 Key Facts
16.7.2 Business Description
16.7.3 Products and Services
16.7.4 Financial Overview
16.7.5 SWOT Analysis
16.7.6 Key Developments
16.8 General Electric Company
16.8.1 Key Facts
16.8.2 Business Description
16.8.3 Products and Services
16.8.4 Financial Overview
16.8.5 SWOT Analysis
16.8.6 Key Developments
16.9 Cerner Corporation
16.9.1 Key Facts
16.9.2 Business Description
16.9.3 Products and Services
16.9.4 Financial Overview
16.9.5 SWOT Analysis
16.9.6 Key Developments
16.10 Orion Health group of companies
16.10.1 Key Facts
16.10.2 Business Description
16.10.3 Products and Services
16.10.4 Financial Overview
16.10.5 SWOT Analysis
16.10.6 Key Developments

17. Appendix

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