The Global Health Information Exchange Market is projected to reach $3.24 billion by 2028, from a value of $1.42 billion in 2022, by registering a CAGR of 14.7% during the forecast period. The rising need to curtail the costs associated with the maintenance of paper-based patient health records, government support for the adoption of EMR solutions, growing focus on patient-centric care delivery are the major factors propelling the growth of the market. However, the need for significant investments, the high cost of deployment, and the lack of true interoperability solutions are hampering the market growth. Moreover, data privacy concerns, and improving healthcare infrastructure in emerging markets are creating ample opportunities across the globe.
Recent Developments
In October In 2021, MEDITECH (US) entered into an agreement with Steward Health Care, wherein the latter implemented MEDITECHs EHR system in 18 sites located across Arizona, Texas, Utah, Arkansas, and Louisiana. This decision was a part of Stewards One Platform strategy to bring all 35 hospitals under a single HER.
In January 2021, Epic Systems Corporation partnered with Adena Health System to implement Epics EHR across Adenas health system. This partnership will help increase patient data exchange with the Ohio State Wexner Medical Center.
In October 2020, Health Catalyst (US) entered into a multi-year strategic partnership with Middle East Healthcare Company (MEAHCO) (Saudi Arabia). Under this partnership, six Saudi-German Hospitals in the Kingdom of Saudi Arabia (KSA) will have access to Health Catalysts DOS technology.
In July 2019, Cerner Corporation collaborated with Amazon Web Services, Inc. Under this collaboration agreement; Cerner Corporation named AWS its preferred cloud provider. The agreement also focuses on accelerating Artificial Intelligence (AI), Machine Learning (ML), and other cutting-edge innovations in healthcare.
Competitive Landscape
CORHIO, ZorgNetOost , Western New York Clinical Information Exchange, Utah Health Information Network, The Health Collaborative, Santa Cruz HIE, San Diego Health Connect, Orion Health Group Limited, Oracle Corporation, Optum, Inc., Nextgen Healthcare Information System, LLC, Integrated Health Information Systems (IHiS), Health Level Seven (HL7) International, Health Catalyst, Great Lakes Health Connect, GERRIT, Brown & Toland Medical Group, MEDITECH, Epic Systems Corporation, Cerner Corporation are some of the major players in the Global Health Information Exchange Market.
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