Healthcare interoperability solution market to grow by USD 3,330.16M

The healthcare interoperability solution market is set to grow by USD 3,330.16 million from 2022 to 2027. The market is estimated to be progressing at a CAGR of 13.51% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing adoption of EHRs. EHRs and electronic medical records (EMRs) are used to store information about patients in electronic documents. EHR systems automate access to information and streamline hospital workflows, and the digital data collected through EHRs and EMRs can be shared across various devices that are connected to a network. Therefore, doctors and physicians can use EHRs to access medical histories, diagnoses, medications, treatment plans, immunization dates, allergies, radiology images, and test results of patients. Hence, such factors will drive the market growth of the healthcare interoperability solution market during the forecast period.

The report on the healthcare interoperability solution market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

Healthcare interoperability solution market 2023-2027 – Market dynamics
Leading trends

• The growing digitization of the healthcare industry is an emerging trend influencing the healthcare interoperability solution market growth.
• The healthcare industry is moving toward digital health due to the trend of digitization in various industries.
• Healthcare services such as prescriptions, appointments, and diagnoses are made remotely by the use of the latest devices and technologies.
• Some of the most important factors that facilitate market growth include the proliferation of smartphones, improved Internet connectivity, advances in healthcare IT infrastructure, the increase in the need to reduce healthcare costs, the rise in the prevalence of chronic diseases, and access to virtual healthcare.
• Hence, such trends will boost the growth of the market during the forecast period.

Major challenges

• Concerns over the security of patient data and cyberattacks are the challenges that may impede the healthcare interoperability solution market growth. 
• The risk of data breaches, data piracy, and security issues due to the rise in the volume of personal information shared between patients and medical practitioners are some of the risks faced by the healthcare industry.
• Automated healthcare systems are used for storing the health records and clinical data of patients electronically, which increases the risks of data piracy and theft.
• Modern healthcare systems are interconnected, creating security risks.
• Hence, such risks faced by the healthcare industry may impede market growth during the forecast period.

Healthcare interoperability solution Market 2023-2027: Market segmentation
This report extensively covers market segmentation by deployment (on-premise and cloud-based), type (structural, semantic, and foundational), and geography (North America, Europe, Asia, and Rest of World (ROW)).

• The market share growth by the on-premise segment will be significant for overall market growth during the forecast period. On-premise software runs on an organization’s computers and large healthcare organizations prefer on-premise healthcare information software solutions. This provides an optimum level of data security with physical access controls and security protocols. Moreover, in the on-premise deployment model, data are stored on dedicated servers, which offer control and security over information. Therefore, the on-premise segment of the market is expected to grow during the forecast period.

Companies mentioned

• ALLSCRIPTS HEALTHCARE SOLUTIONS INC.
• Cerner Corp.
• Consensus Cloud Solutions Inc.
• Epic Systems Corp.
• International Business Machines Corp.
• Infor Inc.
• iNTERFACEWARE Inc.
• InterSystems Corp.
• Jitterbit Inc.
• Lyniate
• Medical Information Technology Inc.
• NextGen Healthcare Inc.
• Onyx Technology
• Orion Health
• OSP
• Virtusa Corp.
• ViSolve Inc.
• Wipro Ltd.
• Koninklijke Philips NV
• Cognizant Technology Solutions Corp.

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