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Healthcare IT Systems Interoperability Market By End User (Hospitals, Ambulatory Care Centers, Long-term Care Centers) - Growth, Future Prospects & Competitive Analysis, 2016 - 2024

Healthcare IT system interoperability enables various healthcare systems to communicate with each other and provides a holistic view of the entire information generated within a healthcare facility. With the advent of technological advancements in the healthcare IT sector, large volumes of data are being generated through the usage of various medical systems and devices at healthcare facilities.

To reduce healthcare costs and gain actionable insights, healthcare organizations must connect and integrate various healthcare IT systems deployed within the organization. Healthcare IT system interoperability platforms have enabled healthcare providers to seamlessly collate and analyze the data generated at various data points. Healthcare facilities can further make use of this integration to enhance clinical workflow and reduce redundancies.

Healthcare IT system interoperability has gained immense popularity in recent years. Rising healthcare costs and the increasing need to provide effective healthcare services have led to a growing demand for healthcare IT system interoperability. The integration of various systems enables healthcare organizations to reduce the number of repeated tests while also making it easier for medical staff to access patient medical data.

Furthermore, with interoperability between various healthcare systems, medical professionals can easily and securely share medical information for expert consulting and referrals. Thereby, interoperability ensures continuity of care irrespective of geographical location or healthcare service provider. Furthermore, interoperability enables governments and healthcare organizations to deploy population health management, which can work toward the prevention and early detection of diseases.

One of the major factors driving growth in the healthcare IT systems interoperability market is the need for effective use of healthcare IT systems in the U.S. With numerous incentives from the government towards effective use of medical data, hospitals in the U.S. have been keen on achieving overall interoperability within healthcare facilities.

Interoperability is also expected to play a crucial role in the European Union’s vision to build its universal healthcare record to ensure continuity in care throughout the continent. Countries in the Asia Pacific embracing healthcare IT system interoperability include New Zealand, Singapore, and China, among others. Thereby, the overall healthcare IT systems interoperability market is expected to witness sustainable growth during the forecast period.

The report titled "Global Healthcare IT Systems Interoperability Market: Growth, Future Prospects, and Competitive Analysis, 2016–2024" offers strategic insights into the global healthcare IT systems interoperability market, along with the market size and estimates for the duration of 2014–2024. The said research study covers an in-depth analysis of multiple market segments based on end-users and a cross-sectional study across different geographies and sub-geographies.

The study covers the comparative analysis of different segments for the years 2015 and 2024. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities. In addition, the report covers a section providing analysis on the adoption of healthcare IT systems interoperability platforms in various healthcare settings, including hospitals, ambulatory care centers, and long-term care centers, among others.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading providers of healthcare IT system interoperability, their SCOT (Strengths, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Some of the major players profiled in the report are Infor, Inc., Oracle Corporation, Cerner Corporation, Corepoint Health, LLC, Orion Healthcare Limited, InterSystems Corporation, Quality Systems, Inc., Summit Healthcare Services, Inc., Mulesoft, Inc., and IBM Corporation.

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the healthcare IT industry
  • Market fuelers, market impediments, and their impact on market growth
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2014–2015)
  • SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global healthcare IT systems interoperability market, offering market size and estimates for the period from 2016 to 2024, keeping in mind the above-mentioned factors.

The global healthcare IT systems interoperability market is segmented, based on end users, into the following categories:

  • Hospitals
  • Ambulatory Care Centers
  • long-term care centers
  • Others

In 2015, the hospital segment dominated the overall healthcare IT systems interoperability market in terms of revenue and adoption. Factors such as rising healthcare costs and increasing redundancies in various tests and diagnostic results led to an increase in demand for achieving interoperability between various hospital IT systems. In addition, initiatives taken by various governments toward encouraging hospital interoperability have incentivized various healthcare organizations across the world to embrace interoperability.

With numerous IT systems deployed in large acute care settings, it has become imperative for hospitals to achieve enhanced interoperability among various systems to lower healthcare costs and increase clinical workflow efficiency. Furthermore, interoperability enables medical staff to effectively access various medical information from a single point of use.

Thereby, physicians and other medical professionals can spend more time delivering care and expect better patient outcomes. The complexity and high costs of deploying integration engines have curtailed the adoption of interoperability solutions in various ambulatory care centers and long-term care centers, among others. However, with the latest developments in standards, such as fast healthcare interoperability resources (FHIR), the overall healthcare IT systems interoperability market is expected to witness continued growth during the forecast period.

The global healthcare IT systems interoperability market has been segmented on the basis of geographical regions, as per the following regions and countries:

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • CIS
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • South Asia
  • Australasia
  • Rest of Asia Pacific
  • Middle East and Africa (MEA)
  • GCC countries
  • North Africa
  • Southern Africa
  • the remainder of MEA
  • Latin America
  • Brazil
  • Mexico
  • rest of Latin America

In 2015, North America dominated the overall healthcare IT systems interoperability market across the world. The segment contributed to more than half of the total revenue generated in 2015. With the advent of technological advancements in the healthcare IT sector, large volumes of data are being generated through the use of various medical systems and devices at healthcare facilities.

To reduce healthcare costs and gain actionable insights, healthcare organizations must connect and integrate various healthcare IT systems deployed within the organization. Healthcare IT system interoperability platforms have enabled healthcare providers to seamlessly collate and analyze the data generated at various points. Healthcare facilities can further make use of this integration to enhance clinical workflow and reduce redundancies.

Europe and Asia Pacific followed North America, in terms of revenue, in the global healthcare IT systems interoperability market. With the economic slowdown and decreasing hospital budgets, Europe is expected to witness sluggish demand for complex interoperability solutions. However, with growing efforts towards building health information exchange networks all across Europe, the market is expected to witness immense growth opportunities in the following years. In addition, increasing focus on better healthcare delivery in countries including New Zealand, Singapore, and South Korea, among others, is expected to drive the growth of healthcare IT system interoperability in the Asia Pacific region.

Frequently Asked Questions:

The market for Healthcare IT Systems Interoperability Market is expected to reach US$ 1.9 Bn By 2024.

The Healthcare IT Systems Interoperability Market is expected to see significant CAGR growth over the coming years, at 7.4%.

The report is forecasted from 2016-2024.

The base year of this report is 2015.

Oracle Corporation, Cerner Corporation, Corepoint Health, LLC, Orion Healthcare Limited, InterSystems Corporation, Quality Systems, Inc., Summit Healthcare Services, Inc., Mulesoft are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2017
Category:  Technology & Media
Report ID:   58331
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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