Health Information Exchange Market| Analysis of Worldwide Industry Trends and Opportunities

Health Information Exchange Market

Health information exchange (HIE) involves the electronic movement of health-related information among organizations according to nationally recognized standards. HIE aims to facilitate the access and retrieval of clinical data to provide safer, timelier, efficient, effective, equitable, patient -centered care.

The health information exchange market is projected to reach USD 1,545.0 million by 2020 from USD 990.6 million in 2015, at a CAGR of 9.3% during the forecast period. Federal mandates like Meaningful use, growing patient-centric approach in healthcare delivery, increasing EHR adoption rate, and need to curtail healthcare cost are some of the key factors driving the growth of market.

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The health information exchange market has been segmented, on the basis of type, into directed exchange, query-based exchange, and consumer-mediated exchange. The directed exchange segment accounted for the largest share of the global market in 2015. Directed exchange supports point-to-point transactions and transmits documents to physicians’ EHR; this is contributing to the large share of this segment.

The health information exchange market in Asia-Pacific is expected to grow at the fastest rate during the forecast period. High growth in this regional segment can primarily be attributed to the growing initiatives for Japan’s EHR adoption and ICT fund, investments and reforms to modernize China’s healthcare infrastructure, rapidly growing Indian healthcare industry, implementation of HCIT programs in Australia & New Zealand, and One Singaporean One Health Record – one of the pioneer patient management programs in Singapore.

What Drives the Market?

1. Strong Government Support and Initiatives2. Increased Measures to Improve Healthcare Quality and Care Coordination Likely to Trigger HIE Adoption3. Need to Curtail Healthcare Costs

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Global Health Information Exchange Market Segmentation:

The health information exchange market has been segmented, on the basis of type, into directed exchange, query-based exchange, and consumer-mediated exchange. The directed exchange segment accounted for the largest share of the global market in 2015. Directed exchange supports point-to-point transactions and transmits documents to physicians’ EHR; this is contributing to the large share of this segment.