Healthcare Data Interoperability Market Analysis

Healthcare Data Interoperability Market Analysis

In terms of level, healthcare data interoperability market from the structural segment is anticipated to record a valuation of more than USD 7.5 billion by 2032. Structural interoperability level defines the data structure of information that is being transferred between systems. It allows uniform transfer of health data between systems while keeping its meaning intact. Additionally, it offers standardized message formatting which enables healthcare organizations to interpret data at the field level and helps them take effective clinical decisions to minimize the chances of adverse health events.
 

With respect to application, healthcare data interoperability market valuation from diagnosis segment is poised to surpass USD 9.9 billion by 2032. Diagnostic data helps healthcare organizations in getting meaningful insights into patient history, efficacy of surgical techniques, reinfection rates, and others which helps them take effective actions for further treatment.
 

Surging number of people undergoing diagnosis has bolstered the demand for healthcare data interoperability software for effective transfer of diagnostic data for better clinical outcomes. As per the American Cancer Society, around 1.9 million new cancer cases are poised to be diagnosed in 2023 in the U.S. alone.
 

From the regional perspective, North America healthcare data interoperability market held over 44% of the overall business share in 2022. Growing investments towards healthcare digitalization have hastened the demand for healthcare data interoperability software in the region. In fact, in June 2022, the government of Manitoba, a province in Canada that borders Ontario, invested more than USD 7 million to improve virtual healthcare systems in Manitoba.
 

Additionally, strong presence of major market players such as Veradigm LLC, Edifecs, and others is also creating a notable impetus for regional growth. In fact, in October 2022, Veradigm LLC, an American publicly traded IT firm, made Carequality, which is a non-profit interoperability framework available in the U.S. with Veradigm EHR.