Healthcare Information Exchange Market Share Report | Size & Growth Forecast 2028

Healthcare Information Exchange Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Setup Type (Public and Private), Model (Centralized, Decentralized, and Hybrid), Deployment Type (Cloud-based and On-premises), Application (Workflow Management, Internal Interfacing, Web Portal Development, and Others), Component (Enterprise Master Person Index, Healthcare Provider Directory, Record Locator Service, Clinical Data Repository, and Others), and End Users (Public Health Agencies, Healthcare Providers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)

Publication Month : May 2021

  • Report Code : TIPHE100001105
  • Category : Healthcare IT
  • Status : Published
  • No. of Pages : 232
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The healthcare information exchange market was valued at US$ 1,411.56 million in 2020 and is projected to reach US$ 3,326.98 million by 2028; it is expected to grow at a CAGR of 11.4% from 2021 to 2028.

Market Insights and Analyst View:

HIEs are essential for connecting communities and ensuring patient health records are always accessible. Healthcare information exchange (HIE) is an integral and significant element of healthcare information technology (HIT) infrastructure. HIE refers to the deployment of healthcare information electronically. Government support for implementing EMR/EHR systems and a growing emphasis on healthcare cost optimization are the primary factors fueling the growth of the healthcare information exchange market globally. Also, the growing adoption of technologically advanced products in healthcare facilities to treat chronic diseases is fueling the growth of the healthcare information exchange market.

Growth Drivers:

The growing awareness about the use of healthcare information exchange for easy access to patient data at any healthcare facility is fueling the growth of the healthcare information exchange market. The rapid growth of healthcare information technology has led to an increase in the exchange of medical information for patients through EHRs. These systems are used to collect patient information and also share it with other healthcare professionals who are involved in the patient's care. Healthcare authorities, market players, and governments are actively adopting the adoption of EHR systems to modernize the process of healthcare activities. In addition, these systems gather efficient data and exchange it, allowing healthcare professionals to improve the quality of the treatment.

In 2001, the Canadian government launched a strategic initiative to modernize its ICT infrastructure in healthcare and promote the adoption of EHRs. According to data published on NCBI, in 2015, around 91.0% of Canadians registered their data on EHRs, and about 91,000 physicians were using EHR systems for day-to-day work. Moreover, according to a survey by the Canadian Medical Association, ~85.0% of Canadian physicians were using EMR systems in 2017. Also, as per the data published by the Canada Health Infoway in 2020, EHR data is available for around 93.8% of Canadians.

In 2002, England announced the launch of the National Plan for IT, a new initiative to enhance the functionalities of the existing healthcare system. Moreover, in 2012, the government passed the Health and Social Care Act to use patient’s information for research purposes. Such initiatives in the UK are anticipated to drive the adoption of EHR systems in the country. In Germany, an estimated 90% of physicians in private practice use EHR systems as of 2020. Further, according to data published on NCBI in 2020, the EHR adoption rate in New Zealand has reached around 97%. Also, the government of India has launched the Transforming India Mission to generate digital health records of all Indian citizens by 2022. Government initiatives for the adoption of EHR systems eventually propel the growth of the healthcare information exchange market.

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Healthcare Information Exchange Market: Strategic Insights

health-information-exchange-market
Market Size Value inUS$ 1,411.56 Million in 2020
Market Size Value byUS$ 3,326.98 Million by 2028
Growth rateCAGR of 11.4% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Report Segmentation and Scope:

The “Global Healthcare Information Exchange Market” segmentation is done based on setup type, model, deployment, application, component, end user, and geography. Based on setup type, the market is bifurcated into public and private. Based on the model, the healthcare information exchange market is segmented into centralized, decentralized, and hybrid. Based on deployment type, the market is bifurcated into cloud-based and on-premise. Based on application, the market is segmented into workflow management, internal interfacing, web portal development, and others. Based on components, the market is segmented into enterprise master person index, healthcare provider directory, record locator service, clinical data repository, and others. Based on end users, the healthcare information exchange market is segmented into public health agencies, healthcare providers, and others. The healthcare information exchange market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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Segmental Analysis:

Based on setup type, the healthcare information exchange market is segmented into public and private. In 2022, the private segment held the largest market share of the healthcare information exchange market, by setup type. Moreover, the same segment is expected to grow at the highest CAGR from 2022 to 2030. The need for health information exchange (HIE) to transform the healthcare system has become more evident, and the number of health information exchange initiatives (HIEs) has grown exponentially. Over the last several years, private health information exchanges (HIEs) have become a feasible alternative to public model exchanges. Generally, unlike most public HIEs, private HIEs are concentrated in a single community, financed by private healthcare organizations, and do not rely upon public funding. These private models have witnessed significant growth in the marketplace recently. Moreover, there is involvement of private healthcare information providers and a high level of physician engagement at each information system level. In addition, associated benefits, such as high workflow efficiency and fewer governance issues, are expected to increase the adoption rate over the forecast period.

Healthcare Information Exchange Market, by Deployment Type– 2022 and 2028

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Based on deployment type, the healthcare information exchange market is bifurcated into cloud-based and on-premise. In 2022, the on-premise companies segment held the largest healthcare information exchange market share. However, the cloud-based segment is anticipated to grow at the highest CAGR during 2022-2030. Hospitals or other healthcare entities use on-premises to view patient imaging data efficiently. An on-premise delivery solution enables programs to be installed and run on computers on the facility's premises. The on-premise deployment offers a cost-efficient and entirely HIE solution for any practice of any size. The on-premises answer is a business model used in the traditional approach. These solutions are available in various forms to outsource the hardware to use the software in a hosted solution. With an on-premise deployment of imaging management software solutions in hospitals, it is possible to tackle overcrowding in emergency departments and inefficient scheduling for various procedures easily. The cooling cost is also a significant expense to guarantee the servers do not break down. An on-premise solution helps reorganize patient admissions and handoffs, even surgical arrangements and optimizing discharges. Hence, owing to these factors, the demand for the on-premise delivery mode is anticipated to witness significant growth during the coming years.

Based on application, the healthcare information exchange market is segmented into workflow management, internal interfacing, web portal development, and others. In 2022, the web portal development companies segment held the largest healthcare information exchange market share. However, the internal interfacing segment is expected to grow at the highest CAGR from 2022 to 2030. Workflow management is the process of coordinating the activities that make up an organization's work. A series of tasks that are part of a broader undertaking is referred to as a 'workflow,' and it is often used interchangeably with the term 'business process.' To apply people-oriented change management and process improvement strategies, the MeHI has worked with representatives from 12 healthcare organizations so that they can improve the workflow on the receiving side of HIE. Three interactive sessions were carried out, in which the participants reviewed the change management and then processed the mapping concepts. After that, they applied the mapping concepts to the challenges organizations face after receiving healthcare documents via HIE. Demand for healthcare interfaces is rising, and healthcare entities are working rapidly to connect various internal applications and external resources.

Regional Analysis:

Based on geography, the healthcare information exchange market segments into five key regions: North America, Europe, Asia Pacific, South and Central America, and Middle East and Africa. In 2022, the North American healthcare information exchange market held the largest share of the global healthcare information exchange market. The Asia Pacific healthcare information exchange market is estimated to show the highest CAGR during the forecast period. The market for healthcare information exchange in the North American region is also likely to grow with the presence of various key players. In addition, the adoption of digital tools in healthcare operations for improving quality and reducing costs simultaneously is also responsible for augmenting the growth of the health information exchange market in the region. In North America, the US is the largest market for healthcare information exchange. The growth of this market is primarily driven by the increasing adoption of EHR/EMR systems, the increasing prevalence of chronic diseases, and support from the federal government to implement digital tools in healthcare.

Furthermore, the rising emphasis on cost optimization and consolidation of healthcare IT infrastructure is also responsible for market growth in the country. The US has one of the highest healthcare costs in the world. It’s home to the world’s leading multinational corporations, such as Microsoft, Intel, Google, NVIDIA, Johnson & Johnson, and many more. It tends to have the most cutting-edge treatments. All this contributes to higher market growth in the region. Moreover, healthcare institutions in the US are also focusing on adopting advanced healthcare information systems to elevate the level of functionalities. Moreover, continual development in the information technology field offers better options for healthcare professionals to analyze and exchange patient data. For instance, in May 2023, Rush Health and Ready Computing successfully deployed the first phase of Rush Health Connect. This information technology solution enables Rush Health members to share health information securely and efficiently.  Rush Health is a leading clinically integrated network of hospitals and physicians, including about 1,100 physicians and 300 other Chicago clinicians.  The company partnered with Ready Computing, a services consulting firm specializing in HIE implementations, to implement and customize InterSystems HealthShare, the platform supporting Rush Health Connect.

Industry Developments and Future Opportunities: 

Various initiatives taken by key players operating in the global healthcare information exchange market are listed below:

  1. In March 2023, Fujitsu launched a new cloud-based platform that allows users to collect and leverage health-related data securely to promote digital transformation in the medical field. The new platform supports the automatic conversion of medical data from medical institutions' EMRs using HL7 FHIR, the next-generation standards framework, and secure health-related data. Based on the medical institution's consent, patients can securely store personal health information such as step counts, vital data, and calorie consumption, which is converted into non-personally identifiable information by the platform. This, in turn, supports pharmaceutical companies and medical institutions in performing data analysis and R&D activities, accelerating the development of individualized healthcare and the discovery of new drugs.

Competitive Landscape and Key Companies:

Some of the healthcare information exchange market leaders are Oracle, eClinicalWorks, Allscripts Healthcare LLC, GE Healthcare, Health Catalyst, Inc., Orion Health group of companies, Nextgen Healthcare Information System LLC, Optum, Inc., McKesson Corporation, and Ciracet. These companies focus on product launches and expansions geographically to meet the increasing consumer demand worldwide and increase their product range in specialty portfolios. These companies have a widespread global presence, which allows them to serve a large set of customers and subsequently increase their market share. The report offers a trend analysis of the healthcare information exchange market emphasizing on various parameters such as market dynamics, technological advancements, and competitive landscape analysis of leading market players across the globe.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Set Up , Type , Implementation Model , Application , End User , and Deployment , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are the driving factors for the healthcare information exchange market across the globe?

The growth of the market is attributed to some key driving factors such as government Support for Adoption of EMR/EHR systems and growing emphasis on healthcare cost optimization.

Who are the major players in the healthcare information exchange market?

The healthcare information exchange market majorly consists of the players such as eClinicalWorks, Allscripts Healthcare, LLC, General Electric Company, Cerner Corporation, Orion Health group of companies, Health Catalyst, Inc., Nextgen Healthcare Information System, LLC, McKesson Corporation, Optum, Inc., and Oracle Corporation. amongst others.

What is healthcare information exchange?

HIEs are crucial for connecting communities and ensuring patient health records are always available. Healthcare information exchange is an integral and significant element of health information technology (HIT) infrastructure. Healthcare information exchange refers to the deployment of healthcare information electronically.

The List of Companies - Healthcare Information Exchange Market

  1. eClinicalWorks
  2. Allscripts Healthcare, LLC
  3. General Electric Company
  4. Cerner Corporation
  5. Orion Health group of companies
  6. Health Catalyst, Inc.
  7. Nextgen Healthcare Information System, LLC
  8. McKesson Corporation
  9. Optum, Inc.
  10. Oracle Corporation  

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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