Global Market Size, Forecast, and Trend Highlights Over 2025 – 2037
Healthcare Interoperability Solution Market size was valued at USD 4.09 billion in 2024 and is anticipated to reach USD 21.22 billion by the end of 2037, registering around 13.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of healthcare interoperability solutions is assessed at USD 4.53 billion.
The growth of this market can be attributed to the increasing use of healthcare interoperability solutions in the healthcare industry especially in hospitals. Suppliers of ambulatory medical care can electronically submit prescriptions to pharmacies using solutions like prescribing interoperability. As per a data, in the US, e-prescriptions accounted for 94% of all prescriptions completed in 2021.
The market is anticipated to expand as more people adopt healthcare interoperability solutions over the projected period as a result of their potential to lower the rising healthcare expenditures. Sharp growth in government health spending at all income levels underlie the new high of USD 9 trillion accounting to 11% of global GDP.
Healthcare Interoperability Solutions Sector: Growth Driver and Challenges
Growth Driver
- Adoption of Government Reforms for the Healthcare Sector - Government implementation of different healthcare reforms has increased consumer demand for healthcare interoperability solutions. For instance, the Patient Protection and Affordable Care Enhancement Act (HR 1425) was proposed by the U.S. House of Representatives on June 22, 2020. The Affordable Care Act (ACA) was intended to be strengthened and expanded by the bill in order to reduce healthcare costs.
- Escalating Product Launches and Market Players Partnerships - The market for healthcare interoperability solutions is anticipated to increase as a result of key players in the market launching new products in the sector and expanding their partnerships. For instance, CareCloud Inc. introduced CareCloud Connector, a cutting-edge frontend and data management engine for health care organizations, in December 2021. The offered integration is ready-to-use and speeds up deployment and data administration while enhancing interface control and transparency.
Challenges
- Lack of Standardization – There is no single, universally accepted standard for healthcare data exchange. This makes it difficult for different systems to communicate with each other.
- High Cost of the Solution
- Security and Privacy Concerns Associated
Healthcare Interoperability Solutions Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
13.5% |
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Base Year Market Size (2024) |
USD 4.09 billion |
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Forecast Year Market Size (2037) |
USD 21.22 billion |
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Regional Scope |
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Healthcare Interoperability Solutions Segmentation
Type (Solutions, Services)
Based on type, the services segment in the healthcare interoperability solutions market is anticipated to account for the highest share of 55% by the end of 2037. The expansion of this market is being driven by the growing interest of the scientific and healthcare communities in cloud-based platforms and cloud computing to reduce total operating costs for better and faster execution of healthcare applications. Additional factors that are anticipated to support expansion in the analyzed segment include the regular use of additional interoperability solutions and the frequent acquisition of services like software upgrading, training, and maintenance. For instance, to meet the demands of the large-scale company, Reliq Health Technologies Inc. implemented the FHIR (Fast Healthcare Interoperability Resources) standard for their iUGO Care platform in April 2021.
Deployment (Cloud-based, On-premise)
Healthcare interoperability solutions market from the on-premises segment is set to witness the largest revenue share during the time period between 2024 – 2037 on the account of increasing demand for data exchange. These types of software are often used by hospitals to exchange information between different departments. On-site software ensures a quick exchange of relevant information to help doctors and physicians access patient data, improving the success rate of surgeries and treatments. As a result, the adoption rate of on-site interoperable software is more than twice as high in public hospitals with multiple specialty departments.
Our in-depth analysis of the global market includes the following segments:
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Deployment |
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Level |
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Type |
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End User |
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Customize this ReportHealthcare Interoperability Solutions Industry- Regional Scope
North American Market Forecasts
The North American region is estimated to hold the largest market share of 36% during the anticipated period. The United States, which is one of the main countries that use digital health solutions such as electronic medical records (EHRs) in practically every hospital, is expected to be a major market area for interoperability solutions across North America.
APAC Market Statistics
The healthcare interoperability solutions market in the Asia Pacific is poised to observe a notable revenue share by the end of 2037. Growth in this area is mainly driven by the increasing popularity of healthcare tourism, increased demand for high-quality health care, and higher government spending on hospital infrastructure. Moreover, a large number of patients in highly populated countries such as India and China are generating high volumes of patient data each year which leads to the need for effective data exchange between pharmacies and hospitals.
Companies Dominating the Healthcare Interoperability Solutions Landscape
- Koninklijke Philips NV
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- EPIC Systems Corporation
- NextGen Healthcare, Inc.
- Oracle Corporation
- Koch Software Investments (Infor, Inc)
- Orion Health Group Limited
- Quality Systems, Inc.
- OSP Labs
- ViSolve, Inc.
- InterSystems Corporation
Key Players
In the News
- A new Innovation Grant of USD 550,000 was awarded to eHealth Exchange, a not for profit health information network connecting providers and federal agencies, in order to stimulate new and innovative ways to increase electronic health information exchange or to develop new technical connectivity tools.
- Koninklijke Philips NV Netherlands signed a contract to acquire US Capsule Technologies, Inc. in January 2021 for the purpose of transforming healthcare delivery.
Author Credits: Radhika Pawar
- Report ID: 5260
- Published Date: Oct 09, 2024
- Report Format: PDF, PPT
