Dublin, Dec. 04, 2019 (GLOBE NEWSWIRE) -- The "Global Interoperability Solutions in Healthcare Market: Focus on Products, Deployment Models, Components, Regional Adoption, and Competitive Landscape - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.
According to the market intelligence report, the global interoperability solutions in healthcare generated a revenue of $1.62 billion in 2018 and is estimated to grow over $2.47 billion by the end of 2025. The market is projected to grow at a CAGR of 5.9%, during the forecast period from 2019 to 2025. There are multiple factors that drive the market such as increasing adoption of EHRs, emphasis on personalized care, rising healthcare expenditure, various government initiatives, and rising funding activities.
Healthcare insurance payers and pharmacies are two major end-user segments of the healthcare industry that are being revolutionized by the incorporation of interoperability solutions presently. These tools can significantly help healthcare payers in improving their reimbursement strategies and population health analysis. The introduction of interoperable solutions in pharmacies would help in the prevention of drug abuse and in keeping the care provider posted about the prescription fill-ins.
Among the different levels of interoperability, the structural interoperability (level 2 of interoperability) would be the most widely used interoperability level and would have the highest growth rate during the forecast period. Currently, the interoperability level holds 30% of the total interoperability implementation followed by semantic interoperability (29%) and foundational interoperability (21%)
The implementation of true interoperability holds the potential of changing the healthcare delivery business model from service-based to value-based.
Healthcare providers would hold the largest share of the market ($1.26 billion). However, in terms of growth rate, the healthcare insurance providers (payers) are likely to grow with the highest CAGR of 7% during the forecast period. In terms of the deployment model, cloud model interoperability solutions are expected to grow with a CAGR of 6.1% during the forecast period. This growth rate is primarily due to consumer preferences as these solutions free the user from application hosting, maintenance, and security aspects.
- The major end-users of the interoperable solutions would be care providers while healthcare insurance payers and pharmacies would see the highest growth rate.
- The use of interoperable solutions with the LIMS can significantly bring down the numbers of redundant clinical tests.
- The major reason for switching to or preferring a cloud-based model is cost-effectiveness. The usage of cloud-based software rather than on-premise into 2%-10% times more cost-effectiveness as compared to its counterparts. Other reasons include low maintenance costs, speed of deployment and limited technical expertise, and the staff requirement.
- The major market shareholder of the market would be North America, followed by Europe, Asia-Pacific, and Rest-of-the-World. While Asia-Pacific would see the highest growth rate, the CAGRs of North America and Rest-of-the-Word would be extremely close. The usage of interoperable solutions in North America would not only be limited to hospitals and diagnostic laboratories, and a major growth area is the post-acute care hospitals.
This market intelligence report provides a multidimensional view of the global interoperability solutions in the healthcare market in terms of market size and growth potential. This research report aims at answering various aspects of the global interoperability solutions in the healthcare market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The study considers the growth-share matrix model for a comprehensive study of the global operating room management solutions market and assesses the factors governing the same.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with recent market activities such as product launches, partnerships, collaborations, funding as well as mergers and acquisitions, etc. The research report provides a comprehensive analysis of product providers and platform providers, trend analysis by segments, and demand by geographical regions.
This report is a meticulous compilation of research on more than 70 players in the market ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 20 leading companies, market participants, end-users and vendors. The report also profiles 15 companies and six company snapshots including several key players such as 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 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 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 global interoperability solutions in the healthcare market?
- What is the growth potential of the global interoperability solutions in the healthcare market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
Key Topics Covered
1 Market Definition
2 Scope of the Report
3 Research Methodology
4 Industry Analysis
4.1 Industry Trends
4.2 Regulatory Framework
4.2.1 Regulatory Framework in North America
4.2.2 Regulatory Framework in Europe
4.3 Patent Analysis
5 Competitive Landscape
5.1 Market Share Analysis
5.2 Key Developments and Strategies
5.2.1 Collaboration and Partnerships
5.2.2 Mergers and Acquisitions
5.2.3 Product Launches
5.2.4 Others (Contracts and Awards)
5.3 Product Mapping Analysis
5.4 Business Model Analysis
6 Market Dynamics
6.1 Market Drivers
6.1.1 Increasing Adoption of EHR
6.1.2 Increased Focus on Personalized Care
6.1.3 Increasing Healthcare Expenditure
6.1.4 Government Initiatives
6.1.5 Increasing Funding Activities
6.2.1 Lack of National Patient Identifier
6.2.2 Monopolization of EHR Industry
6.2.3 Lack of Regulations
6.3.1 Improving Healthcare Infrastructure in Developing Economies
6.3.2 Integration of Blockchain Technology in Interoperability
6.3.3 Medical Device Interoperability
7 Global Interoperability Solutions in Healthcare Market (By Component)
7.2.1 EHR Interoperability Solutions
7.2.2 Laboratory Information Management System (LIMS) Interoperability Solutions
7.2.3 HIE Interoperability Solutions
7.2.4 Enterprise Interoperability Solutions
7.2.5 Other (Imaging Interoperability Solutions)
8 Global Interoperability Solutions in Healthcare Market (By Deployment Model)
8.2 Cloud-Based Model
8.3 On-Premise Model
9 Global Interoperability Solutions in Healthcare Market (By Interoperability Level)
9.2 Foundational Interoperability
9.3 Structural Interoperability
9.4 Semantic Interoperability
10 Global Interoperability Solutions in Healthcare Market (By End-user)
10.3.1 Hospitals and Clinics
10.3.2 Long Term Care Centers
10.3.3 Diagnostic and Imaging Centers
11 Global Interoperability Solutions in Healthcare Market (By Region)
11.2 North America
11.4.3 South Korea
11.5.3 Saudi Arabia
126.96.36.199 South Africa
12 Company Profiles
12.1 Allscripts Healthcare Solutions Inc.
12.1.1 Company Overview
12.1.2 Role of Allscripts Healthcare Solutions in the Global Interoperability Solutions in Healthcare Market
12.1.3 Product Offerings
12.1.5 Key Insights about Financial Health of the Company
12.1.6 Recent Developments
12.1.7 SWOT Analysis
12.2 Cerner Corporation
12.3 Dell Technologies Inc.
12.4 Epic Systems Corporation.
12.5 General Electric Company (GE)
12.6 International Business Machines Corporation (IBM)
12.8 iNTERFACEWARE Inc.
12.9 InterSystems Corporation
12.11 Koninklijke Philips N.V.
12.12 Medical Information Technology Inc. (MEDITECH)
12.13 NextGen Healthcare Inc.
12.14 Omnicell Inc.
12.15 ViSolve Inc.
12.16 Company Snapshots
12.16.1 CareTech Solutions Inc.
12.16.2 eMids Technologies Inc.
12.16.3 Mobisoft Infotech LLC
12.16.4 MphRx Inc.
12.16.5 Orion Health
12.16.6 OSP Labs
For more information about this report visit https://www.researchandmarkets.com/r/w565n1
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