Westford, USA, Nov. 25, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the healthcare interoperability solutions market size will attain a value of USD 10.13 billion by 2031, with a CAGR of 12.9% over the forecast period (2024-2031). Rising adoption of electronic health records and high emphasis on improving coordination in healthcare are slated to be factors driving the healthcare interoperability solutions market growth going forward. The development of value-based care models and increasing digitization of the healthcare industry are expected to present new opportunities for healthcare interoperability solutions providers.
Browse in-depth TOC on "Healthcare Interoperability Solutions Market"
- Pages - 189
- Tables - 88
- Figures – 71
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Healthcare Interoperability Solutions Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 3.84 Billion |
| Estimated Value by 2031 | $ 10.13 Billion |
| Growth Rate | Poised to grow at a CAGR of 12.9% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Interoperability Level, Deployment, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing demand for coordination in healthcare establishments |
| Key Market Opportunities | Emphasis on value-based care integration |
| Key Market Drivers | Growing adoption of electronic and digital health records |
Better Customization and Control Allows On-premises Deployment to Lead Market Development
Large healthcare organizations with high spending potential are projected to spearhead the adoption of on-premises healthcare interoperability solutions going forward. Better control over data security and privacy along with high customization potential are key benefits of on-premises deployment allowing it to hold a high healthcare interoperability solutions market share.
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Increasing Use of Healthcare Interoperability Solutions by Insurance Companies Helps Healthcare Payers’ Segment Emerge as Highly Opportune
Rising adoption of healthcare interoperability solutions by government health programs and insurance companies to efficiently manage and coordinate care is helping this segment provide new opportunities. Efforts of healthcare payers to optimize data accuracy, optimize reimbursement processes, and enhance efficiency are also estimated to bolster healthcare interoperability solutions market outlook in the long run.
High Investments in Healthcare IT Aids the Dominance of North America through 2031
Launch of several new digital transformation initiatives, presence of a strong healthcare ecosystem, and growing investments in healthcare IT infrastructure development are key factors bolstering the demand for healthcare interoperability solutions. Rising emphasis on providing value-based care in this region is also expected to aid the dominance of this region. The United States is slated to be the most opportune market in the North American region.
Healthcare Interoperability Solutions Market Insights:
Drivers
- Rising adoption of electronic health records
- High emphasis on improving coordination in healthcare
- Rapid digitization of the healthcare industry
Restraints
- Fragmented nature of healthcare systems
- Restricted healthcare infrastructure in developing countries
- Lack of financial incentives for adoption
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Prominent Players in Healthcare Interoperability Solutions Market
- Oracle Health (US)
- Epic Systems Corporation (US)
- Infor, Inc. (US)
- Intersystems Corporation (US)
- Koninklijke Philips N.V. (Netherlands)
- Veradigm LLC (US)
- Cognizant (US)
- Change Healthcare (US)
- Nextgen Healthcare, Inc. (US)
- Merative (US)
- Lyniate (US)
- OSP Labs (US)
- Orion Health Group Of Companies (New Zealand)
- Onyx Technology LLC (US)
- Visolve (US)
- Jitterbit (US)
- Interfaceware Inc. (Canada)
- Virtusa Corp. (US)
- Consensus Cloud Solutions Inc. (US)
- Mphrx (US)
- Wipro (India)
- Emids (US)
- Nalashaa (US)
- Deevita LLC (US)
Key Questions Answered in Healthcare Interoperability Solutions Market Report
- Which key companies are listed in this healthcare interoperability solutions market analysis?
- Why is demand for healthcare interoperability solutions rising around the world?
- Which end use provides lucrative opportunities for healthcare interoperability solutions companies?
- What are the top restraints for healthcare interoperability solutions industry?
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This report provides the following insights:
Analysis of key drivers (emphasis on improving reimbursement efficiency, growing use of electronic health records), restraints (data privacy and security concerns, reluctance to change, high costs for installation and maintenance), and opportunities (use of artificial intelligence, standardization of medical terminology) influencing the growth of healthcare interoperability solutions market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the healthcare interoperability solutions market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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