Health Information Exchange Market Takes a Hit in 2019, but Double-Digit Growth to Return in 2020-2027

Health Information Exchange Market

Health Information Exchange Market

Health Information Exchange Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

NE WIN SIVERS DRIVE, PORTLAND, UNITED STATES, October 22, 2020 /EINPresswire.com/ — The Health Information Exchange Market is expected to grow swiftly as a consequence of the surge in demand for health information exchange (HIE) systems, which is due to the rising need for collection, storage, and secured exchange of large amounts of healthcare data. Furthermore, the increased focus of government organizations on promoting the use of healthcare information technology in order to improve the quality of healthcare is one of the key growth drivers of the overall health information exchange market.

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The rising need to curtail the costs associated with the maintenance of paper-based patient health records is another driver of the health information exchange market. In addition, according to a study reported by NCBI, retrieval of data from electronic health records is much faster and easier than accessing conventional hard copy records. This is expected to fuel the demand for HIE systems throughout the forecast period. These aforementioned factors provide a major boost to the overall HIE industry.

Based on set up, the market is segmented as, public and private. The market is categorized based on type such as, query based, direct and consumer mediated. On the basis of implementation model, the HIE market is categorized as centralized, decentralized and hybrid model. By application, the HIE market is classified as workflow management, internal interfacing, web portal development, and other applications. On the basis of end users, the HIE market is segmented as pharmacies, healthcare providers and healthcare payers.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global health information exchange market based on set up, type, implementation model, solution, application, and end user. It also provides market size and forecast till 2027 for overall health information exchange market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and South and Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.

The market of Health Information Exchange is anticipated to witness rapid growth in the region of North America in the coming years, due to rising awareness regarding data collection and transfer between healthcare payers and providers. Also, the rise in the number of nonprofit organizations in the United States during the previous years has been a driving factor in the region. The market of HIE is anticipated to witness growth at a substantial rate during the forecast period, owing to the rise in the patient population in the region.

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Source: EIN Presswire