Health Information Exchange Market – Development Endeavours & Business Opportunities
The global health information exchange market is expected to reach 2.0 billion by 2025 from an estimated USD 1.1 billion in 2020 at a CAGR of 12.2% during the forecast period.
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Growth in this market can be attributed to factors such as growing need to curtail healthcare costs, focus on patient-centric care delivery, growing adoption of EHRs and other HCIT solutions, government initiatives for enhancing patient care and safety, government funding for healthcare interoperability.
Global Health Information Exchange Market Scope:
| Metrics | Details |
| Study Period | 2020–2025 |
| Market Size in 2025 | USD 2.0 Billion |
| Segment Covered | By Setup Type, By Implementation Model, By Type, By Application, By Solution, By End Users & by Region |
| by Type Covered | Public, Private |
| By End user Covered | Healthcare Payers, Healthcare Providers, Pharmacies |
| By Application Covered | Web Portal, Secure Messaging |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, and South America |
| Key Players Profiled | Epic Systems Corporation (US), Cerner Corporation (US), MEDITECH (US), Intersystems Corporation (US), Change Healthcare |
EPIC SYSTEMS CORPORATION (US)
Epic Systems (US) held the leading position in the health information exchange market. The company is also one of the dominant players in the hospital EMR systems market, accounting for an estimated share of 28-30% of the acute care hospitals in US. Every month around 100 million records are share between Epic users and with providers using other systems.
CERNER CORPORATION (US)
Cerner held the second position in the health information exchange market.The company is also one of the dominant players in the hospital EMR systems market, accounting for an estimated share of 25-27% of the acute care hospitals in US. The company has a wide product portfolio in this market and demonstrates a strong focus on R&D—it has ~7,300 employees working in R&D activities.
MEDITECH (US)
MEDITECH held the third position in the health information exchange market. It is also the third leading player in the hospital EMR systems market, accounting for an estimated share of 15-17% of the acute care hospitals in US. MEDITECH’s leadership in the market can be attributed to its efficient expansion strategies in North America, the UK, Africa, the Middle East, and Asia.
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Recent Developments
- In 2021, MEDITECH (US) entered into an agreement with Steward Health Care, wherein the latter implemented MEDITECH’s EHR system in 18 sites located across Arizona, Texas, Utah, Arkansas, and Louisiana. This decision was a part of Steward’s “One Platform” strategy to bring all 35 hospitals under a single HER
- In 2021, Change Healthcare launched its nationwide Clinical Data Retrieval Solution, a new cloud-based interoperability solution that makes it possible for payers to quickly and easily retrieve patient records from the electronic health record (EHR) systems
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