Home > Pressrelease > Healthcare Data Interoperability Market size to surpass $18.5 Bn by 2032
Healthcare Data Interoperability Market size to surpass $18.5 Bn by 2032
- Published Date: April 14, 2023
Healthcare Data Interoperability Market size is anticipated to cross USD 18.5 billion by 2032, according to a new research report by Global Market Insights Inc.
Surging adoption of EHR software in healthcare units of developing and developed nations is a key diver behind market growth. Growing occurrence of chronic ailments has proliferated the demand for EHRs for managing huge chunks of patient information. In this regard, many governments across the world are implementing favorable schemes for promoting the adoption of EHR software in healthcare.
One such program launched by Centers for Medicare & Medicaid Services is Medicare Promoting Interoperability Program for the adoption, implementation, upgradation, and demonstration of certified EHR technology for select hospitals and critical access hospitals.
Cost-effectiveness to bolster semantic level segment outlook
Healthcare data interoperability market from semantic segment is poised to grow at over 13.5% CAGR through 2023 to 2032. Semantic interoperability creates an accurate data-transfer channel and changes the content into standard terminologies to help healthcare professionals analyze the data for planning treatment. Moreover, it proves cost-effective to healthcare organizations and facilitates the safe electronic transmission of patient data amongst diagnostic centers, hospitals, and pharmacies.
High security features to drive cloud-based deployment segment progression
Healthcare data interoperability industry from cloud-based segment held a valuation of more than USD 3.5 billion in 2022. Unlike on-premise software, cloud-based interoperability software supports the uninterrupted exchange of electronic information globally. Moreover, high safety and security of data in a cloud based interoperable EHR solution make it the preferred choice of healthcare organizations. Additionally, it reduces the likelihood of a data breach and cyberattacks.
Browse key industry insights spread across 210 pages with 409 market data tables & 17 figures & charts from the report, “Healthcare Data Interoperability Market Size By Level (Foundational, Structural, Semantic), By Deployment (Cloud-based, On-premise) By Application (Diagnosis, Treatment), By Model (Centralized, Hybrid, Decentralized) By End-use (Ambulatory Surgical Centers, Hospitals), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Growing prevalence of chronic disorders to foster hospitals end-use segment value
Healthcare data interoperability market from hospitals segment is expected to record a valuation of over USD 8.9 billion by 2032. High prevalence of chronic ailments has increased hospital admissions, elevating the demand for healthcare data interoperability solutions for patient data management. Moreover, healthcare data interoperability solutions enable efficient movement of healthcare data between different departments of hospitals and pharmacies. Quick movement of data helps healthcare professionals take better clinical decisions.
Rollout of novel healthcare IT solutions to spur Europe healthcare data interoperability industry
Europe healthcare data interoperability industry is anticipated to depict a valuation of more than USD 5.3 billion by 2032, driven primarily by the growing adoption of novel healthcare IT solutions.
Mergers & takeovers to shape competitive landscape for healthcare data interoperability industry
Some of the prominent healthcare data interoperability market contenders are Veradigm LLC, Ciox Health, Smith Medical, Cerner Corporation, Koninklijke Philips N.V., and TeleTracking Technologies, among others.