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.
What the Market Looks Like?
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. The health information exchange market in Asia-Pacific is expected to grow at the fastest rate 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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What Drives the Market?
The Health information exchange market is primarily influenced by the following factors:
- Strong Government Support and Initiatives
- Increased Measures to Improve Healthcare Quality and Care Coordination Likely to Trigger HIE Adoption
- Need to Curtail Healthcare Costs
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.
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