The global interoperability solutions in the healthcare market size was US$ 3.1 billion in 2021. The global interoperability solutions in the healthcare market size is forecast to reach the value of US$ 6.15 billion by 2030, registering a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2022 to 2030.
COVID-19 Impact Analysis
The COVID-19 pandemic is expected to have a significant positive impact on the global interoperability solutions in the healthcare market. The demand for video conferencing and phone calls suddenly increased to monitor the state of patients. Thus, it increased the demand for interoperability solutions in the healthcare domain. In addition, the pandemic has escalated the demand for efficient interoperability solutions and services to obtain accurate patient information.
However, the high cost of the solutions acted as a major restraint in the market growth during the pandemic.
Factors Influencing
- The growing focus of companies towards developing efficient healthcare interoperability solutions is forecast to propel market growth. Moreover, increasing government initiatives towards the expansion of healthcare infrastructure are forecast to benefit the market growth.
- Technological advancements have changed the outlook of the industry. Moreover, the rising adoption of Electronic Health Records (EHR) and increasing awareness about personalized care is forecast to fuel the market growth.
- Interoperability is considered an efficient way to reduce the expenses related to late diagnosis and treatment. Thus, it will fuel the growth of global interoperability solutions in the healthcare market.
- The shortage of skilled IT professionals in the healthcare sector may hamper the market growth during the forecast period.
- The market is witnessing growing investments in the developing economies from government and private companies. Thus, it will offer significant opportunities to the players in the global interoperability solutions in the healthcare market.
Geographic Analysis
North America is forecast to hold dominance in the global interoperability solutions in the healthcare market. The growth of the region would be majorly due to the rising demand for efficient healthcare services, rising healthcare expenditure, and increasing EHR implementation.
Asia-Pacific is forecast to emerge as a rapidly growing healthcare interoperability solutions market majorly due to the contribution of emerging economies like China and India. Governments in India, South Korea, and China are focusing on providing enhanced healthcare services due to the growing population. Moreover, the rising population in these economies will boost the growth of Asia-Pacific interoperability solutions in the healthcare market.
Competitors in the Market
- Epic Systems Corporation
- Cerner Corporation
- General Electric
- Allscripts Healthcare, LLC
- Koninklijke Philips N.V.
- iNTERFACEWARE Inc
- Jitterbit
- OSP Labs
- Orion Health
- Visolve, Inc.
- Other prominent players
Market Segmentation
Healthcare Interoperability Solutions Market, by Type
- Software Solutions
- EMR/EHR Interoperability Solutions
- Lab Systems Interoperability Solutions
- Imaging Systems Interoperability Solutions
- Healthcare Information Exchange Interoperability Solutions
- Enterprise Interoperability Solutions
- Other Interoperability Solutions (Medical Billing Interoperability Solutions, Practice Management Software, and System Document Management, etc.)
- Services
Healthcare Interoperability Solutions Market, by Interoperability Levels
- Foundational Interoperability
- Structural Interoperability
- Semantic Interoperability
Healthcare Interoperability Solutions Market, by End User
- Healthcare Providers
- Hospitals and Clinics
- Long-term Care Centers
- Diagnostic and Imaging Centers
- Other Providers (Accountable Care Organizations, Academic Research Centers, and Blood Banks)
- Payers
- Pharmacies
Healthcare Interoperability Solutions Market, by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America