Health Information Exchange (HIE) Market | Expanded Utilization of Mechanized Advancements Drive the Market Growth
The rise in world population, coupled with the increasing number of various chronic and acute diseases are the prime factors augmenting the health information exchange market. This is owing to the increase in healthcare and medical expenditures and the rising adoption of various medical solutions such as EHRs and HCIT. Health information exchange (HIE) is the electronic transmission of healthcare-related information among clinical offices, health information associations - organizations that direct and oversee the exchange of this information - and government offices as indicated by public norms.
The global health information exchange or the HIE market is classified on the basis of setup type, implementation model, type, application, solution, end user, and region. In terms of setup type, the market is divided into public HIE, and private HIE. Based on implementation model, the market is grouped into decentralized/ federated models gastrointestinal surgeries. With respect to type, the market is classified into consumer-mediated exchange, querry-based exchange, directed exchange. With respect to application, the market is classified into internal interfacing, secure messaging, workflow management, web portal development, and other applications. As per solution, the market is categorized into platform-centric solutions, messaging-centric solutions, and portal-centric solutions. As per classification by end user, the market is divided into pharmacies, healthcare payers, and healthcare providers.
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The report offers an in-depth analysis of the market for health information exchange and focuses on the prime growth trajectories. It also describes the table of segmentation in details and mentions the names of the leading segment with its attributed factors. Additionally, the report discusses the impact of the COVID19 pandemic on this market and what strategies can be adopted to attract revenues during this time. Furthermore, the report lists the names of companies functioning in the market and their key contributions to the market in terms of trends and innovations.
Health Information Exchange (HIE) Market: List of Manufacturers
Companies operating in the global health information exchange market are indulging in motivating government agencies to indulge in advanced medical support for providers. The increasing adoption of EMR solutions and other medical aid will not only create lucrative growth opportunities for the market. Other players are indulging in collaborations and merger strategies to attract more revenues for their brand, thereby intensifying the global competition.
Some of the prominent players of the global health information exchange market include:
- Intersystems Corporation
- Health Catalyst
- Cerner Corporation
- Epic Systems Corporation
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Health Information Exchange (HIE) Market: Drivers and Restraints
The expanded utilization of mechanized advancements, for example, EHRs and clinical cases handling and the shift towards healthcare mix and health information exchanges (HIEs) have extended the healthcare protection and security scene. Electronic exchange of patient information offers more noteworthy reach and productivity in healthcare conveyance however is related with more prominent information hazard and responsibility because of this more extensive access. Wide tolerant information exchanges lead to protection and security dangers and increment the odds of information breaks. In healthcare, roughly 33% of information breaks bring about clinical data fraud principally because of absence of interior command over understanding information, obsolete strategies and methodology or non-adherence to existing ones, and lacking staff preparing.
Health Information Exchange (HIE) Market: Regional Analysis
Regionally, the market generated the largest share from North America, followed closely by Europe. Additionally, the market in Asia Pacific is projected to create lucrative growth opportunities during the forecast period, owing to the increasing prevalence of chronic diseases and the improving medical healthcare infrastructure. This coupled with the increasing support by the government in terms of infrastructural development and medical equipment will help Asia Pacific generate notable revenues in the years to come.
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