Health information exchange creates opportunities to move clinical information electronically. Through HIE, clinical information can be shared and retrieved in a safe, effective, efficient, and timely manner. It helps the organizations in providing patient-centered care. As a result, it is considered as a great aid for the clinicians and physicians to meet high standards of complete care of their patients. The global healthcare information exchange market is strongly driven by growing demand for these technologies across the world. The market is also driven by the increased awareness towards healthcare, shown from emerging markets. Segmentation and Trends The global healthcare information exchange market is segmented on the basis of the types of setups, vendors, implementation models, applications and various geographic regions. Here are the basic sub-segments of the industry:
- Setups: Private HIE and public HIE
- Vendor: Messaging centric, portal centric, platform centric and others
- Applications: Workflow management, interfacing internal applications, web portal development, secure messaging, patient safety, and others
- Implementation: Consolidated or centralized HIE, switch, hybrid HIE, federated or distributed HIE, and patient managed HIE
- Geography: Europe, North America, Asia and rest of the world – which includes Middle East, Africa. Latin America and Pacific countries
Drivers and Forecasts Growing demand is the strongest driver for the global health information exchange (HIE) market. Incentive structure by the US federal government, which is dedicated to patient care and safety, is also a great driver for the market in North America. Government initiatives from various other countries are also vital factors triggering rise in demand and technological advancements in the market. Rising demand from emerging regions of the world, which include Asia, Latin America, Middle East, Africa, and Pacific countries are also expected to create positive influence on the global market. According to the market research reports, the global industry is dominated by North America which is again dominated by United States of America. The research reports suggest that the health information exchange market is poised to witness healthy growth at the rate of over 9% from 2013 to 2018. At this projected compound annual growth rate (CAGR), the industry is poised to reach $878 million by the end of the year 2018. The federated models segment is expected to dominate the implementation models segment. Continuous technological advancements are expected to play a crucial role in the overall trends and growth of the global HIE market. As a result, many potential investors are looking for large investments in this market.