Global Health care Interoperability Solutions Market: Overview
Health care is experiencing a massive revolution as technology is widely used to engage patients, consumers, and caregivers, provide real-time information, and support care delivery with better use of data and analytics. Presently the health care industry is focused on improving quality of health care facilities and operational efficiency, reducing the cost of procedures and decreasing medical errors occurring while conducting various medical procedures. Lack of interoperability and integration among pharmacies, payers, providers, and other stake holders weakens the unified Health care continuum. Currently, a patient’s health records are captured in different formats including free text, papers, structured electronic health care records, payer application, and multiple hospital information system. This lack of stability makes it difficult to combine data. It also makes safeguarding of privacy and security of patient’s confidential clinical health difficulty.
Global Health care Interoperability Solutions Market: Key Trends
Increasing focus on health care interoperability solutions by health care authorities, rising investments for improving Health care facilities, increasing government initiatives for enhancing patient care, rising government funding for health care interoperability, and growing focus on patient-centric care delivery has improved several features in medical practices. Health care interoperability solutions are extensively employed in health care facilities, leading to rapid developments in the global Health care interoperability solutions market. However, lack of trained health care IT professionals, increase in complexity with the lack of consistent data and data privacy concerns are some major factors that are likely to restrain the market during the forecast period.
Global Health care Interoperability Solutions Market: Segmentation
The global Health care interoperability solutions market can be segmented based on type, interoperability level, end-user, and region. In terms of type, the market can be bifurcated into software and services. The software segment can be categorized into electronic health records interoperability solutions, enterprise interoperability solutions, imaging system interoperability solutions, lab system interoperability solutions, health care information exchange interoperability solutions, and other interoperability solutions. The health care information exchange interoperability solutions segment is anticipated to grow at the utmost CAGR during the forecast period owing to factors such as the growing adoption of Health care IT solutions and the need for greater access to patient health information to improve care quality and enhance patient satisfaction. Based on interoperability level, the global market for Health care interoperability solutions can be divided into structural, semantic, and foundational. In terms of end-user, the global market can be categorized into health care providers, health care payers, and pharmacies. The health care providers segment can be segregated into hospitals and clinics, long-term care centers, diagnostic and imaging centers, and others.
Global Health care Interoperability Solutions Market: Regional Analysis
Based on region, the health care interoperability solutions market can be split into North America (the U.S. and Canada), Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific, (China, Japan, India, Australia & New Zealand, and Rest of Asia Pacific) Latin America (Mexico, Brazil, and Rest of Latin America), and Middle East & Africa (South Africa, Saudi Arabia, Israel, and Rest of Middle East & Africa). North America is expected to dominate the global health care interoperability solutions market during the forecast period. Factors such as increasing need to curb the growing health care expenditure, rising demand for quality health care delivery, and implementation of favorable initiatives & regulations to improve the overall efficiency of health care organizations in the region is expected to drive the market in the region.
Global Health care Interoperability Solutions Market: Competitive Landscape
Key players in global health care interoperability solutions market include Koninklijke Philips N.V., Cerner Corporation, Jitterbit, ViSolve, Inc., Epic Systems Corporation, iNTERFACEWARE, OSP Labs, Quality Systems, Inc., Orion Health Group Limited, InterSystems Corporation, Infor, Inc., and Allscripts Health care Solutions, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.