Healthcare Interoperability Solutions Market

Cerner Corporation (US), Epic Systems Corporation (US), Infor, Inc. (US), and InterSystems Corporation (US), are the leading players in the Healthcare Interoperability Solutions Market

The global healthcare interoperability solutions market is projected to reach USD 4.2 billion by 2024 from USD 2.3 billion in 2019, at a CAGR of 12.6%. The primary growth drivers of this market are the increasing focus on patient-centric care delivery, a growing need to curb the increasing healthcare costs, government initiatives for enhancing patient care and safety, and government funding for healthcare interoperability. Improving healthcare infrastructure is expected to offer significant growth opportunities for players in this market. However, increasing complexity with lack of consistent data, lack of trained healthcare IT professionals, and data privacy concerns are some of the major market challenges.

Cerner Corporation (US), Infor, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), Koninklijke Philips NV (Netherlands), InterSystems Corporation (US), Orion Health Group Limited (New Zealand), iNTERFACEWARE (Canada), Quality Systems, Inc. (US), OSP Labs (US), Epic Systems Corporation (US), ViSolve, Inc. (US), and Jitterbit (US) are some of the key players in this market. These companies are focusing on increasing their presence in high-growth markets through organic and inorganic growth strategies such as product launches, acquisitions, partnerships, agreements, collaborations, and expansions.

Cerner Corporation is one of the leading players of the healthcare interoperability solutions market in 2018. The leading position of the company in this market can be attributed to its strong distribution network, which has enabled the adoption of its solution across the globe. The company offers various industry-specific applications and suites to facilitate information exchange across several healthcare providers. Cerner’s solutions are licensed by around 14,000 facilities across the globe, including 3,000 hospitals; 60,000 physicians; 4,900 physician practices; 590 ambulatory facilities; 3,500 extended care facilities; 150 employer sites; and 1,790 retail pharmacies. Cerner has a strong product portfolio with a double-digit organic growth rate over the last three decades.

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Epic Systems offers interoperable EHR solutions like the Care Everywhere and Share Everywhere, which helps the company mark its leading position in the healthcare interoperability solutions market. The company’s core competency lies in its EHR software solutions—according to Epic Systems, about one in four physicians in the US use the Epic Care Everywhere solution. The company aims to grow its market share by further implementing product diversification and also expanding its product offerings by incorporating emerging technologies. With the launch of its One Virtual System Worldwide in 2017, the firm took a leap forward in the healthcare interoperability market.

InterSystems has earned its reputation by not only partnering with well-known companies such as Epic Systems Corporation and GE Healthcare but also by offering services to well-known hospitals in the US. The company offers advanced HCIT interoperability technology in its solutions such as the InterSystems HealthShare and InterSystems Ensemble. The company is also known to maintain excellent relationships with its clients.

Infor focuses on target specific industries to strengthen its support network with partnerships, collaborations, and product launches. It also focuses on expanding its presence in regions of EMEA and the APAC, as countries in these regions are establishing the critical infrastructure required to support cloud business applications. Infor’s global network of partners has enabled the company to ensure a strong geographical presence with 168 offices across the world. Over the years, the company has formed various strategic alliances to strengthen its product portfolio and gain a competitive advantage in the market.

Related Reports:

Healthcare Interoperability Solutions Market by Type (EHR Interoperability, Health Information Exchange, Enterprise), Interoperability Levels (Foundational, Structural, Semantics), End User and Region - Global Forecast to 2024

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Report Code
HIT 6989
RI Published ON
3/19/2019
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