Health Information Exchange (HIE) Market

Product Deployments Was the Most-widely Adopted Growth Strategy in the Health Information Exchange Market

The health information exchange market is projected to reach USD 2.0 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 12.2% during the forecast period. Growth in this market is driven by factors such as the growing focus on patient-centric care delivery, the growing need to curtail healthcare costs, government initiatives for enhancing patient care and safety, and government funding for healthcare interoperability. On the other hand, factors such as lack of true interoperability solutions, lack of standards, data privacy and security concerns, the need for significant investments in infrastructure development and the use of outdated legacy systems are expected to restrict market growth to a certain extent in the coming years.

Epic Systems Corporation(US), Cerner Corporation (US), MEDITECH (US), and Change Healthcare(US) are considered to be the leading players in the health information exchange market.

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EPIC SYSTEMS CORPORATION (US)

In 2019, Epic Systems (US) held the leading position in the health information exchange market. The company is also one of the dominant players in the hospital EMR systems market, accounting for an estimated share of 28-30% of the acute care hospitals in 2019 in US. Every month around 100 million records are share between Epic users and with providers using other systems. Pic is a leading player promoting Carequality, a network connecting EHRs around the US. The company focuses on innovating and improving its geographic presence to maintain its position as a leading player globally

CERNER CORPORATION (US)

 In 2019, Cerner held the second position in the health information exchange market.The company is also one of the dominant players in the  hospital EMR systems market, accounting for an estimated share of 25-27% of the acute care hospitals in 2019 in US. The company has a wide product portfolio in this market and demonstrates a strong focus on R&D—it has ~7,300 employees working in R&D activities. Continuous investment in R&D is a core element of Cerner’s strategy. Recent developments by Cerner in the market include securing its 500th patent for a new innovative voice-assisted technology for clinicians to document the details of a patient visit on a mobile device.

MEDITECH (US)

In 2019, MEDITECH held the third position in the health information exchange market. It is also the third leading player in the hospital EMR systems market, accounting for an estimated share of 15-17% of the acute care hospitals in 2019 in US. MEDITECH’s leadership in the market can be attributed to its efficient expansion strategies in North America, the UK, Africa, the Middle East, and Asia. The company focuses on strengthening its geographic presence and innovating its EHR solutions to maintain its position. MEDITECH expanded its presence in the UK and Ireland by launching MEDITECH UK in May 2018. The company also collaborated with Google (US) in October 2019 to offer EHR data through the Google Cloud Platform. This helped to enhance scalability, securely deliver patient data, and facilitate interoperability.

Related Reports:

Health Information Exchange (HIE) Market by Set Up Type (Public, Private),Implementation Model ( Federated, Hybrid), Type (Pull, Push), Application (Web Portal, Secure Messaging), Solution (Portal, Platform Centric), End User - Global Forecast to 2025

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Report Code
HIT 2265
RI Published ON
4/2/2021
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