Health Information Exchange (HIE) Market

Market Definition

The Health Information Exchange Market was valued at USD 1.41 billion in 2021 and is predicted to reach USD 3.73 billion by 2030, expanding at a CAGR of 11.7% from 2022 to 2030.

Health information exchange refers to the electronic transmission of healthcare-related data among medical facilities, and health information organizations. It enables healthcare providers to securely access and share a patient’s medical information electronically. Health information exchange can save time and money by eliminating unnecessary data entries and improving patient care by providing clinicians with up-to-date information about their patients. It also helps to ensure patient privacy and security by integrating secure systems and protocols.

Market Dynamics and Trends

The demand for health information exchange is witnessing an uptrend owing to the growing awareness about the advanced technologies among the people that helps exchange information related to health applications through electronic health record (EHR) devices. Also, the rapid adoption of HIE solutions by the healthcare sector for the privacy and security of patient data is further propelling the growth of the health information exchange market. Through the implementation of HIE solutions, healthcare providers can quickly and securely access patient information to improve patient care and reduce costs.

Moreover, the increased adoption of advanced technologies and investments by governments in the healthcare sector to improve healthcare security and service is accelerating the growth of health information exchange market.

The lack of skilled professionals in the healthcare technology sector and the limitation in standardization of health information exchange platforms are factors that are expected to restrain the growth of the market. On the contrary, the introduction of AI and machine learning in health information exchange to increase efficiency as well as offer improved clinical and administrative outcomes is expected to create ample growth opportunities for the health information exchange market in the near future.

Market Segmentation and Scope of Study

The global health information exchange market is segmented based on setup, implementation model, application, solution, and geography. Based on setup, the market is classified into private and public. Based on the implementation model, the market is segmented into centralized, decentralized, and hybrid. On the basis of application, the market is categorized into web portal development, internal interfacing, secure messaging, workflow management, and others. On the basis of solution, the market is divided into portal-centric, platform-centric, and messaging-centric. Geographical breakdown and analysis of each of the aforesaid classifications include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominated the global health information exchange market in 2021 and is potently expected to remain dominant in the market throughout the forecast period. This is attributed to the increasing government regulations such as the health insurance portability and accountability act (HIPAA) to encourage healthcare institutions to keep healthcare data private and secret.

Also, the presence of key market players, such as Allscripts Healthcare Solutions, Inc., Health Catalyst, and Epic Systems Corporation, which are adopting various market strategies including collaborations and partnerships to expand their market presence is further boosting the growth of the health information exchange market in the region. For instance, in October 2020, Health Catalyst partnered with Middle East healthcare company MEAHCO to provide affordable healthcare infrastructure and a foundation for future growth.

Also, in February 2020, Allscripts Healthcare Solutions, Inc collaborated with Manorama Infosolutions to deliver an integrated healthcare management information system and health information exchange platform. This platform allows healthcare providers to securely share patient health records with each other, enabling them to make informed decisions about patient care and ultimately improve patient outcomes.

Asia Pacific is projected to witness substantial growth in the global health information exchange market owing to various the rapid growth of the healthcare industry, adoption of digital technologies, and increasing awareness of the need for better healthcare data security. Additionally, the rise in the number of healthcare cyber-attacks coupled with the growing awareness towards patient data security is further driving the growth of the health information exchange market.

According to a cyber security intelligence firm CloudSEK, the Indian healthcare industry was the second highest globally in cyberattacks, with 7.7% of total incidence in the segment being witnessed in the country in 2021.

Competitive Landscape

The health information exchange market includes several market players such as Epic Systems Corporation, Cerner Corporation, Health Catalyst, InterSystems Corporation, MEDITECH, eHealthcare Solutions LLC, IBM Corporation, Siemens AG, Orion Health, Inc., and Allscripts Healthcare Solutions, Inc. among others. These market players are adopting various strategies such as innovation and collaboration to maintain their dominance in the global health information exchange market.

For instance, in March 2022, MEDITECH collaborated with Google health to enhance clinical search and discovery in Expanse EHR. This solution will help health practitioners to provide the best care through quick and easy access to information from multiple sources. Also, in March 2021, Health Catalyst launched a new healthcare AI, to identify healthcare business opportunities and challenges across revenue, cost, and quality. This will significantly expand the effective implementation of AI in healthcare.

Key Benefits

• The health information exchange market report provides a quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the health information exchange market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints, and opportunities and their impact on the health information exchange market is provided in the report.

• The competitive analysis of the market players along with their market share in the health information exchange market

• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments

By Setup  

• Private

• Public

By Implementation Model

• Centralized

• Decentralized

• Hybrid

By Application

• Web Portal Development

• Internal Interfacing 

• Secure Messaging

• Workflow Management

• Others

By Solution

• Portal-centric

• Platform-centric

• Messagig-centric

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Italy

  • Germany

  • Spain

  • Netherlands

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Taiwan

  • Vietnam

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East 

  • Africa

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Analysis Period	2021–2030
Base Year Considered	2021
Forecast Period	2022–2030
Market Size Estimation	Billion (USD)
Market Segmentation	By Setup (Private and Public) By Implementation Model (Centralized, Decentralized, Hybrid) By Applicaton (Web Portal Development, Internal Interfacing, Secure Messaging, Workflow Management, Others) By Solution (Portal-centric, Platform-centric, Messagig-centric)
Geographical Segmentation	North America (U.S., Canada, Mexico) Europe (Germany, UK, Spain, Italy, Netherlands, Rest of Europe), Asia-Pacific (Australia, China, India, Japan, South Korea, Vietnam, Taiwan, Rest of Asia-Pacific), Rest of the World (Latin America, Middle East, Africa)
Companies Profiled	Epic Systems Corporation, Cerner Corporation, Health Catalyst, InterSystems Corporation, MEDITECH, eHealthcare Solutions LLC, IBM Corporation, Siemens AG, Orion Health, Inc., and Allscripts Healthcare Solutions, Inc. among others

KEY PLAYERS

• Epic Systems Corporation

• Cerner Corporation

• Health Catalyst

• InterSystems Corporation

• MEDITECH

• eHealthcare Solutions LLC

• IBM Corporation

• Siemens AG

• Orion Health, Inc.

• Allscripts Healthcare Solutions, Inc.