The North America health information exchange market is expected to reach US$ 1,439.25 million by 2028 from US$ 665.03 million in 2021; it is estimated to grow at a CAGR of 11.7% from 2021 to 2028.
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 across North America. However, the data security and privacy concerns are hampering the growth of the market.The rapid growth of health information technology has led to the increase in exchange of patient medical information through electronic health records (EHRs). The systems can collect patient information as well as share the information with other healthcare professionals involved in the patient's care. The governments, healthcare authorities, and market players are actively supporting the adoption of EHR systems to streamline the process of healthcare activities. Moreover, the systems enable efficient data gathering and exchange, allowing healthcare professionals to enhance the quality of the treatment. According to a data published on NCBI, in 2015, around 91.0% of the Canadians had their data registered on EHRs, and an estimated 91,000 physicians were using EHR systems for day-to-day work. Moreover, according to a survey conducted by Canadian Medical Association in 2017, around 85.0% of the physicians in the country were using EMR systems. Such government initiatives are expected to drive the adoption of EHR systems, which will eventually propel the growth of the health information exchange market by 2028. Also, growing emphasis of healthcare cost optimization by the implementation of certain strategies, such as adoption of cloud-based solutions and cutting of hidden fees can provide substantial cost benefits. Such advantages offered by health information exchange are likely to accelerate the growth of health information exchange market during the forecast period.
Due to the increasing patient volumes, the demand for EMR and EHR platforms to handle complex patient data has grown. As a result, hospitals are progressively focusing on building their capabilities by integrating various hospital systems with EHRs. Players operating in this market have also integrated their EHR platforms with telehealth solutions and upgraded their software solutions to help healthcare providers manage COVID-19 patients effectively. Similarly, in Canada, several government agencies are working towards the management of COVID using HIE and EHR platforms with telehealth solutions and upgraded their software solutions. Hence it has positively impacted the North America health information exchange market growth.
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NORTH AMERICA HEALTH INFORMATION EXCHANGE MARKET SEGMENTATION
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- Request discounts available for Start-Ups & Universities
By Set Up
- Private
- Public
By Type
- Direct Mediated
- Query-based
- Consumer Mediated
By Implementation Model
- Hybrid
- Centralized
- Decentralized
By Application
- Web Portal Development
- Internal Interfacing
- Workflow Management
- Other Applications
By End User
- Healthcare Providers
- Healthcare Payers
- Pharmacies
By Deployment
- On-Premise
- Cloud Based
By Country
- US
- Canada
- Mexico
Company Profiles
- Health Catalyst, Inc.
- Nextgen Healthcare Information System, LLC
- McKesson Corporation
- Optum, Inc.
- Oracle Corporation
- eClinicalWorks
- Allscripts Healthcare, LLC
- General Electric Company
- Cerner Corporation
- Orion Health group of companies
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Set Up, Type, Implementation Model, Application, End User, and Deployment
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Health Information Exchange Market – By Set Up
1.3.2 North America Health Information Exchange Market – By Type
1.3.3 North America Health Information Exchange Market – By Implementation Model
1.3.4 North America Health Information Exchange Market – By Application
1.3.5 North America Health Information Exchange Market – By End User
1.3.6 North America Health Information Exchange Market – By Deployment
1.3.7 North America Health Information Exchange Market – By Country
2. Health Information Exchange Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Health Information Exchange Market– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Health Information Exchange Market in North America: PEST Analysis
4.3 Expert Opinions
5. Health Information Exchange Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Government Support for Adoption of EMR/EHR Systems
5.1.2 Growing Emphasis on Healthcare Cost Optimization
5.2 Market Restraints
5.2.1 Data Security and Privacy Concerns
5.3 Future Trends
5.3.1 Next Generation HIE with the Help of Artificial Intelligence and Voice Recognition
5.4 Impact Analysis
6. Health Information Exchange Market – North America Analysis
6.1 North America Health Information Exchange Market Revenue Forecast and Analysis
7. Health Information Exchange Market Analysis – By Set Up
7.1 Overview
7.2 Health Information Exchange Market, by Set Up 2020 & 2028 (%)
7.3 Public
7.3.1 Overview
7.3.2 Public: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Private
7.4.1 Overview
7.4.2 Private: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
8. Health Information Exchange Market Analysis – By Type
8.1 Overview
8.2 Health Information Exchange Market Revenue Share, by Type (2020 and 2028)
8.3 Query-Based
8.3.1 Overview
8.3.2 Query-Based: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Direct Mediated
8.4.1 Overview
8.4.2 Direct Mediated: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Consumer Mediated
8.5.1 Overview
8.5.2 Consumer Mediated: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
9. Health Information Exchange Market Analysis – By Implementation Model
9.1 Overview
9.2 Health Information Exchange Market Revenue Share, by Implementation Model (2020 and 2028)
9.3 Centralized
9.3.1 Overview
9.3.2 Centralized: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Decentralized
9.4.1 Overview
9.4.2 Decentralized: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Hybrid
9.5.1 Overview
9.5.2 Hybrid: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
10. Health Information Exchange Market Analysis – By Application
10.1 Overview
10.2 Health Information Exchange Market Revenue Share, by Application (2020 and 2028)
10.3 Workflow Management
10.3.1 Overview
10.3.2 Workflow Management: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Internal Interfacing
10.4.1 Overview
10.4.2 Internal Interfacing: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Web Portal Development
10.5.1 Overview
10.5.2 Web Portal Development: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Other Application
10.6.1 Overview
10.6.2 Other Application: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
11. Health Information Exchange Analysis – By End User
11.1 Overview
11.2 Health Information Exchange Share, by End User, 2020 and 2028, (%)
11.3 Healthcare Providers
11.3.1 Overview
11.3.2 Healthcare Providers: Health Information Exchange – Revenue and Forecast to 2028 (US$ Million)
11.4 Healthcare Payers
11.4.1 Overview
11.4.2 Healthcare Payers: Health Information Exchange – Revenue and Forecast to 2028 (US$ Million)
11.5 Pharmacies
11.5.1 Overview
11.5.2 Pharmacies: Health Information Exchange – Revenue and Forecast to 2028 (US$ Million)
12. Health Information Exchange Market Analysis – By Deployment
12.1 Overview
12.2 Health Information Exchange Market Revenue Share, by Deployment (2020 and 2028)
12.3 On-Premise
12.3.1 Overview
12.3.2 On-Premise: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
12.4 Cloud Based
12.4.1 Overview
12.4.2 Cloud Based: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
13. Health Information Exchange Market – North America Analysis
13.1 North America: Health Information Exchange Market
13.1.1 Overview
13.1.2 North America: Health Information Exchange Market, by Country, 2020 & 2028 (%)
13.1.2.1 US: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
13.1.2.1.1 US: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
13.1.2.1.2 US: Health Information Exchange Market, by Set up, 2019–2028 (USD Million)
13.1.2.1.3 US: Health Information Exchange Market, by Type, 2019–2028 (USD Million)
13.1.2.1.4 US: Health Information Exchange Market, by Implementation Model, 2019–2028 (USD Million)
13.1.2.1.5 US: Health Information Exchange Market, by Application, 2019–2028 (USD Million)
13.1.2.1.6 US: Health Information Exchange Market, by End User, 2019–2028 (USD Million)
13.1.2.1.7 US: Health Information Exchange Market, by Deployment, 2019–2028 (USD Million)
13.1.2.2 Canada: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
13.1.2.2.1 Canada: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
13.1.2.2.2 Canada: Health Information Exchange Market, by Set up, 2019–2028 (USD Million)
13.1.2.2.3 Canada: Health Information Exchange Market, by Type, 2019–2028 (USD Million)
13.1.2.2.4 Canada: Health Information Exchange Market, by Implementation Model, 2019–2028 (USD Million)
13.1.2.2.5 Canada: Health Information Exchange Market, by Application, 2019–2028 (USD Million)
13.1.2.2.6 Canada: Health Information Exchange Market, by End User, 2019–2028 (USD Million)
13.1.2.2.7 Canada: Health Information Exchange Market, by Deployment, 2019–2028 (USD Million)
13.1.2.3 Mexico: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
13.1.2.3.1 Mexico: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
13.1.2.3.2 Mexico: Health Information Exchange Market, by Set up, 2019–2028 (USD Million)
13.1.2.3.3 Mexico: Health Information Exchange Market, by Type, 2019–2028 (USD Million)
13.1.2.3.4 Mexico: Health Information Exchange Market, by Implementation Model, 2019–2028 (USD Million)
13.1.2.3.5 Mexico: Health Information Exchange Market, by Application, 2019–2028 (USD Million)
13.1.2.3.6 Mexico: Health Information Exchange Market, by End User, 2019–2028 (USD Million)
13.1.2.3.7 Mexico: Health Information Exchange Market, by Deployment, 2019–2028 (USD Million)
14. Impact Of COVID-19 Pandemic on North America Health Information Exchange Market
14.1 North America: Impact Assessment of COVID-19 Pandemic
15. Health Information Exchange Market– Industry Landscape
15.1 Overview
15.2 Organic Developments
15.2.1 Overview
15.3 Inorganic Developments
15.3.1 Overview
16. Company Profiles
16.1 Health Catalyst, Inc.
16.1.1 Key Facts
16.1.2 Business Description
16.1.3 Products and Services
16.1.4 Financial Overview
16.1.5 SWOT Analysis
16.1.6 Key Developments
16.2 Nextgen Healthcare Information System, LLC
16.2.1 Key Facts
16.2.2 Business Description
16.2.3 Products and Services
16.2.4 Financial Overview
16.2.5 SWOT Analysis
16.2.6 Key Developments
16.3 McKesson Corporation
16.3.1 Key Facts
16.3.2 Business Description
16.3.3 Products and Services
16.3.4 Financial Overview
16.3.5 SWOT Analysis
16.3.6 Key Developments
16.4 Optum, Inc.
16.4.1 Key Facts
16.4.2 Business Description
16.4.3 Products and Services
16.4.4 Financial Overview
16.4.5 SWOT Analysis
16.4.6 Key Developments
16.5 Oracle Corporation
16.5.1 Key Facts
16.5.2 Business Description
16.5.3 Products and Services
16.5.4 Financial Overview
16.5.5 SWOT Analysis
16.5.6 Key Developments
16.6 eClinicalWorks
16.6.1 Key Facts
16.6.2 Business Description
16.6.3 Products and Services
16.6.4 Financial Overview
16.6.5 SWOT Analysis
16.6.6 Key Developments
16.7 Allscripts Healthcare, LLC
16.7.1 Key Facts
16.7.2 Business Description
16.7.3 Products and Services
16.7.4 Financial Overview
16.7.5 SWOT Analysis
16.7.6 Key Developments
16.8 General Electric Company
16.8.1 Key Facts
16.8.2 Business Description
16.8.3 Products and Services
16.8.4 Financial Overview
16.8.5 SWOT Analysis
16.8.6 Key Developments
16.9 Cerner Corporation
16.9.1 Key Facts
16.9.2 Business Description
16.9.3 Products and Services
16.9.4 Financial Overview
16.9.5 SWOT Analysis
16.9.6 Key Developments
16.10 Orion Health group of companies
16.10.1 Key Facts
16.10.2 Business Description
16.10.3 Products and Services
16.10.4 Financial Overview
16.10.5 SWOT Analysis
16.10.6 Key Developments
17. Appendix
17.1 About the Insight Partners
17.2 Glossary of Terms
LIST OF TABLES
Table 1. US Health Information Exchange Market, by Set Up – Revenue and Forecast to 2028 (USD Million)
Table 2. US Health Information Exchange Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 3. US Health Information Exchange Market, by Implementation Model – Revenue and Forecast to 2028 (USD Million)
Table 4. US Health Information Exchange Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 5. US Health Information Exchange Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 6. US Health Information Exchange Market, by Deployment – Revenue and Forecast to 2028 (USD Million)
Table 7. Canada Health Information Exchange Market, by Set Up – Revenue and Forecast to 2028 (USD Million)
Table 8. Canada Health Information Exchange Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 9. Canada Health Information Exchange Market, by Implementation Model – Revenue and Forecast to 2028 (USD Million)
Table 10. Canada Health Information Exchange Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 11. Canada Health Information Exchange Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 12. Canada Health Information Exchange Market, by Deployment – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico Health Information Exchange Market, by Set Up – Revenue and Forecast to 2028 (USD Million)
Table 14. Mexico Health Information Exchange Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 15. Mexico Health Information Exchange Market, by Implementation Model – Revenue and Forecast to 2028 (USD Million)
Table 16. Mexico Health Information Exchange Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 17. Mexico Health Information Exchange Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 18. Mexico Health Information Exchange Market, by Deployment – Revenue and Forecast to 2028 (USD Million)
Table 19. Organic Developments Done by Companies
Table 20. Inorganic Developments Done by Companies
Table 1. Glossary of Terms, Electronic Health Record (EHR) Market
LIST OF FIGURES
Figure 1. Health Information Exchange Market Segmentation
Figure 2. Health Information Exchange Market Segmentation, By Country
Figure 3. North America Health Information Exchange Market Overview
Figure 4. Private by Set Up Segment Expected to Witness Rapid Growth
Figure 5. North America Health Information Exchange Market – Leading Country Markets (US$ Million)
Figure 6. Health Information Exchange Market in North America: PEST Analysis
Figure 7. Health Information Exchange Market Impact Analysis of Drivers and Restraints
Figure 8. North America Health Information Exchange Market – Revenue Forecast and Analysis – 2020- 2028
Figure 9. Health Information Exchange Market, by Set Up 2020 & 2028 (%)
Figure 10. Public: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Private: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Health Information Exchange Market Revenue Share, by Type (2020 and 2028)
Figure 13. Query-Based: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Direct Mediated: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Consumer Mediated: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Health Information Exchange Market Revenue Share, by Implementation Model (2020 and 2028)
Figure 17. Centralized: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Decentralized: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Hybrid: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Health Information Exchange Market Revenue Share, by Application (2020 and 2028)
Figure 21. Workflow Management: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Internal Interfacing: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Web Portal Development: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Other Application: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Health Information Exchange Share, by End User, 2020 and 2028 (%)
Figure 26. Healthcare Providers Health Information Exchange – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Healthcare Payers: Health Information Exchange – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Pharmacies: Health Information Exchange – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Health Information Exchange Market Revenue Share, by Deployment (2020 and 2028)
Figure 30. On-Premise: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Cloud Based: Health Information Exchange Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. North America: Health Information Exchange Market, by Key Country – Revenue (2020) (USD Million)
Figure 33. North America: Health Information Exchange Market, by Country, 2020 & 2028 (%)
Figure 34. US: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
Figure 35. Canada: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
Figure 36. Mexico: Health Information Exchange Market – Revenue and Forecast to 2028 (USD Million)
Figure 37. Impact of COVID-19 Pandemic in North American Country Markets
- Health Catalyst, Inc.
- Nextgen Healthcare Information System, LLC
- McKesson Corporation
- Optum, Inc.
- Oracle Corporation
- eClinicalWorks
- Allscripts Healthcare, LLC
- General Electric Company
- Cerner Corporation
- Orion Health group of companies
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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