Health Information Exchange (HIE) Market 2022 Challenges,

Health Information Exchange (HIE) Market

Health Information Exchange Market was valued at US$1,411.56 Million in 2020 and is projected to reach US$3,326.98 Million by 2028; it is expected to grow at a CAGR of 11.4% from 2021 to 2028.

The growth of the market is mainly attributed to the increasing government support for the adoption of EMR/EHR systems and the increasing focus on healthcare cost optimization. However, data security and privacy issues are hampering the growth of the market.

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Based on the configuration, the health information exchange market is divided into private and public. In 2020, the private institution segment held a larger share of the market and is expected to register a higher CAGR during the forecast period. In recent years, private health information exchanges (PHEs) have emerged as a viable alternative to public exchange models. Private models have seen significant growth in the market due to private healthcare information providers and high level of physician engagement. These advantages are estimated to drive the growth of the market for this segment.

The health information exchange market is witnessing substantial growth amid the COVID-19 pandemic. A few factors such as emphasis on utilization of health IT infrastructure for data transfer, ease of use and cost optimization are propelling the adoption of health information exchange. health during the pandemic. For example, during the pandemic, in March 2020, HealtHIE Nevada (USA) increased its patient data exchanges by 36% since the start of the COVID-19 pandemic. Due to the growing number of patients, the demand for EMR and EHR platforms to manage complex patient data has increased, which ultimately accelerated the market growth during the pandemic.

Some of the major companies operating in the health information exchange market.

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The research provides answers to the following key questions:

1. What is the estimated market growth rate for the forecast period 2020-2028? How big will the market be during the estimated period?
2. What are the major driving forces responsible for shaping the fate of the Healthcare Information Exchange market during the forecast period?
3.Who are the major vendors in the market and what are the winning strategies that have helped them gain a strong foothold in the health information exchange market?
4. What are the major market trends influencing the development of the Healthcare Information Exchange market across different regions?
5.What are the major threats and challenges likely to impede the growth of the Healthcare Information Exchange market?
6. What are the key opportunities that market leaders can capitalize on to gain success and profitability?

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