Health Information Exchange Global Market- Press Release
IQ4I Research & Consultancy published a new report on “Health Information Exchange Global Market – Forecast To 2021” analyzes and studies the major market drivers & Opportunities, Restraints & Threats in North America, Europe, Asia-Pacific and Rest of the World
IQ4I’s Report Contains 91 market data tables and 27 figures spread through 264 pages and an exhaustive TOC on “Health Information Exchange Global Market [Set-up (Public and Private HIE); Vendor (Portal-centric, Messaging-centric, Platform-centric and Others); Implementation Model (Centralized, Federated, Switch, Patient Managed and Hybrid HIE); Information Exchange Type (Push and Pull mode); Component (EMPI, HPD, RLS and Clinical data repository); Application (Interfacing internal application, Workflow management, Secure messaging, Web portal development, Patient safety and Others); End-users (ED Provider, Public Health Agency, Medical Research, Primary Care Provider, Care Manager and Specialists) Regional (North America, Europe, Asia Pacific and Rest of the World)]
The global Health information exchange market is expected to reach $1.3 billion by 2021. This report analyzes the health information exchange market in terms of market revenue ($ million) for all segments. The market analysis is performed by Set-up (Public and Private HIE), Vendor (Portal-centric, Messaging-centric, Platform-centric and Others), Implementation Model (Centralized, Federated, Switch, Patient Managed and Hybrid HIE), Information Exchange Type (Push and Pull mode), Component (EMPI, HPD, RLS and Clinical data repository), Application (Interfacing internal application, Workflow management, Secure messaging, Web portal development, Patient safety and Others), End-users (ED Provider, Public Health Agency, Medical Research, Primary Care Provider, Care Manager and Specialists) and Regional (North America, Europe, Asia Pacific and Rest of the World).
Earlier healthcare providers were dependent on paper charts, phone calls, pagers and fax machines to send and receive patient health information which are now considered as time-consuming, unreliable and has quiet often left the healthcare providers with an incomplete scenario of patient’s medical history. But now-a-days these out-dated means of communication are rapidly being taken over by health information exchange (HIE). HIE is an electronic mode for movement or transferring health related data among organizations securely based on nationally recognized standards.
The healthcare organizations develop instruments for secure transfer of information between the multiple electronic health record systems. Three different levels of HIE exchange include for coordinate care-direct exchange, for unplanned care-query based exchange and finally for patient control-consumer mediated exchange. Patient matching, increased focus on data security, population health management and meeting stage 2 meaningful use exchange requirements are a few major transformations which took place in recent times in HIE market.
Increasing number of U.S. federal government incentive programs, rising demand for HIE and EHR technologies and reduction in healthcare cost by eliminating unnecessary testing are some the factors driving the health information exchange market, while interoperability issues, increased implementation cost, slow return on investment and lack of EHR vendor cooperation are the factors hampering the market growth. The major issue always on fire is the privacy and transparency of data. At present, adopting cloud and mobile health information exchange is accelerating the market growth.
North America accounted for the largest share in 2014. Increased ability to adapt information exchange systems and introduction of incentive programs propelled the market growth in this region. However, Asia-pacific region is expected to grow at the highest CAGR during the forecast period due to increased aging population coupled with growing prevalence of chronic diseases such as cancer, diabetes, cardiac arrest, growth in disposable incomes, emphasis to boost medical tourism, establish private payment systems that promote eHealth and tele-health are the factors driving this market.
Major players in health information exchange market include AT&T (U.S.), CareEvolution (U.S.), Cerner Corporation (U.S.), GE Healthcare (U.K.), IBM Corporation (U.S.), Intersystems (U.S.), Medicity (U.S.), Oracle (U.S.), Orion Health (U.S.) and Optum (U.S.). Epic is a dominant player with a share of XX%, followed by Cerner Corporation, AllScripts, and Intersystems.