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The global healthcare system is witnessing a switch from paper-based method of recording patient data to electronically record the same. The reasons for this transition are to prevent the loss of these records, and to store vital information for treating a patient.  While the trend is picking up worldwide, the U.S. was one of the first countries to introduce a roadmap for interoperability.

The Global Interoperability Solutions in Healthcare Market Report by BIS Research projects the market to grow at a significant CAGR of 5.9% during the forecast period from 2019 to 2025. The market has evolved dramatically with the increasing adoption of EHRs, emphasis on personalized care, rising healthcare expenditure, various government initiatives, and rising funding activities.

Despite the benefits of these software solutions, the major challenges in the market are lack of national patient identifier, monopolization of EHR industry, and lack of regulations. Some of the major opportunities for the key vendors in the market could be investment in medical device interoperability, integration of blockchain in the interoperability solutions, and improving healthcare infrastructure in the developing economies.

Market Segmentation

The Global Interoperability Solutions in Healthcare Market can be segmented on the basis of ccomponent type, “mode of delivery, end user, interoperability level, and region. As of 2019, product providers accounts for $1.25 billion and is expected to reach a value of $1.7 billion by the end of 2025. In terms of growth, end users of interoperability solutions, healthcare insurance payers, and pharmacies will achieve the highest CAGR during the forecast period, i.e.  7% and 5.9% respectively.

As of 2019, North America is the largest shareholder for the overall market and is expected to reach the value of $1.33 billion by the end of 2025 growing with the CAGR of 5.8% during the forecast period. However, a higher growth rate can be expected from the Asia-Pacific region considering its improving healthcare infrastructure, overburdened healthcare system, and focus of ASEAN countries to be recognized as medical tourism destination.

Though the adoption rate of the interoperability solutions in healthcare has been moderate, the potential that lies in them is immense. The integration of interoperability solutions in the healthcare facility will not only improve customer experience but will also help hospitals to provide improved quality of healthcare. To make the entire patient engagement more efficient, the interoperability solutions can be integrated across various stakeholders, namely, patients, providers, payers, and pharmacies.

Market Drivers

  • Increasing Adoption of EHR
  • Increased Focus on Personalized Care
  • Increasing Healthcare Expenditure
  • Government Initiatives
  • Increasing Funding Activities

Market Restraints

  • Lack of National Patient Identifier
  • Monopolization of EHR Industry
  • Lack of Regulations

Market Opportunities

  • Improving Healthcare Infrastructure in Developing Economies
  • Integration of Blockchain Technology in Interoperability
  • Medical Device Interoperability

Key Companies in the Global Interoperability Solutions in Healthcare Market

Some of the major key players in the global interoperability solutions in healthcare market include Epic Systems Corporation, Cerner Corporation, AllScripts Healthcare Inc, IBM, Infor, Jitterbit, Koninklijke Philips N.V., OSP Labs, eMids Technologies Inc, MphRx Inc, Orion Health, ViSolve Inc, Omnicell, Inc, and NextGen Healthcare Inc.

Key questions answered in this report:

•    How interoperability solutions are positioned to save billions of dollars of healthcare expenditure annually? How these solutions can help in reducing healthcare expenditure for developed economies such as North America and Europe?
•    Apart from the existing end users such as care providers and patients, to what other end users can the interoperability be extended?
•    How is interoperability helping in changing the business model of the healthcare delivery?
•    What are the major developments such as product launches, mergers and acquisitions, collaborations, and partnerships taking place in the market and how are they changing the overall dynamics of the interoperability solutions in the healthcare market?
•    What are the major pricing strategies employed by the vendors that can significantly put a pricing pressure on the competitors?
•    What is the current user base of leading interoperability solutions vendors in the market?
•    What are the technological and regional trends pertaining to the global interoperability solutions in healthcare market?
•    What is the growth potential of the global interoperability solutions in healthcare market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?

Get Free Sample Report- https://bisresearch.com/requestsample?id=776&type=download

The scope of this report constitutes of an in-depth study of the global interoperability solutions in healthcare market, including a thorough analysis of the products in the market as well as their adoption spanning different geographical regions. The market has been chiefly segmented into component type, mode of delivery, end user, interoperability level, and region. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering the market.

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