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Health Information Exchange Market worth USD 2.0 billion : Indicates Impressive Growth Rate In Web Portal And Secure Messaging

According to the new market research report Health Information Exchange (HIE) Market by Set Up Type (Public, Private), Implementation Model (Federated, Hybrid), Type (Pull, Push), Application (Web Portal, Secure Messaging), Solution (Portal, Platform Centric), End User – Global Forecast to 2025″, published by MarketsandMarkets™, the global Health Information Exchange Market is expected to reach USD 2.0 billion by 2025 from an estimated USD 1.1 billion in 2020 at a CAGR of 12.2% during the forecast period.

COVID-19 Impact on the Health information exchange Market

The COVID-19 pandemic has created technological shifts crucial to providing better care. The crisis has made complying with data interoperability a priority for most healthcare institutions. It has also increased the need for social distancing among physicians and patients, which has driven the demand for remote patient monitoring and telehealth solutions and the need for the accurate and timely exchange of patient health records.

Browse in-depth TOC on “Health Information Exchange (HIE) Market”

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The health information exchange market includes Tier I and II vendors Epic Systems Corporation (US), Cerner Coporation (US), MEDITECH(US), and Intersystems Corporation (US) among others. The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.

The private HIE segment is expected to account for the largest share during the forecast period

Based on the setup type, the health information exchange market is segmented into public and private HIE. The private HIE segment is expected to account for the largest share of the market in 2020. The large share and high growth can be attributed to the various advantages it offers as compared to public HIEs, such as additional functionalities and strong technical support.

North America regional segment to account for the largest market share of the health information exchange market

Geographically, the HIE Market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. North America is the largest regional market for health information exchange systems, followed by Europe. The largest share of the North American market can be attributed to the significant growth in hospital expenditure, government initiatives to improve patient care and patient safety, the high adoption of HCIT technologies, and the need to reduce healthcare costs.

Recent Developments

  • In 2021, MEDITECH (US) entered into an agreement with Steward Health Care, wherein the latter implemented MEDITECH’s EHR system in 18 sites located across Arizona, Texas, Utah, Arkansas, and Louisiana. This decision was a part of Steward’s “One Platform” strategy to bring all 35 hospitals under a single HER
  • In 2021, Change Healthcare launched its nationwide Clinical Data Retrieval Solution, a new cloud-based interoperability solution that makes it possible for payers to quickly and easily retrieve patient records from the electronic health record (EHR) systems
  • In 2020, Epic Systems Corporation  partnered with Adena Health System to implement Epic’s EHR across Adena’s health system. This partnership will help increase patient data exchange with the Ohio State Wexner Medical Center.

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