Global Electronic Health Information Exchange (eHIE) Solutions Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The challenge lies in establishing secure and interoperable systems that facilitate seamless sharing of patient data across diverse healthcare platforms while ensuring data privacy and regulatory compliance

• The digital mobilization of health care statistics among entities within a region, community, or health information exchange is referred to as health information exchange (HIE). The collective term for participants in data sharing is Health Information Networks (HIN). In actual use, the health information organization (HIO) that permits the exchange can also be referred to as an HIE. HIE makes it feasible to switch clinical data between various health information systems electronically. The purpose of HIE is to make medical records less difficult to access and retrieve to deliver patient-targeted remedy that is a safer, well-timed, efficient, effective, and equitable remedy. These statistics may also be useful to public health authorities in evaluating the population's health.
• Healthcare information exchange is mainly developed to allow doctors, healthcare providers, and other medical facilities to soundly and quickly transmit patients’ clinical data electronically. Healthcare practitioners can share and access patients' medical information through electronic devices through health information exchange (HIE). It additionally aids in the retrieval of clinical information, providing speedy, powerful, safe, efficient, and patient-centered treatment. It also aids in collaboration with healthcare stakeholders, nurses, pharmacists, doctors, and different healthcare providers, in addition to reducing time-consuming administrative responsibilities. In the healthcare sector, it also provides transparency.
• Healthcare information exchange market is broadly driven by the digitalization of healthcare machines coupled with the rising adoption of healthcare information exchange systems due to elevated connectivity between healthcare vendors. Also, growing authorities assist in growing an advanced infrastructure for information exchange, and rising funding from government, non-government institutions, and individuals are driving the growth of the healthcare information exchange market. However, privacy and security issues, huge initial infrastructural investment, and sluggish returns on investments are hindering market growth.
• The developing utilization of electronic health records (EHR) is one of the key factors propelling the health information exchange market growth. Electronic health information is patients' digital data of medical histories, consisting of treatment and test results, that healthcare professionals may share and access. The adoption of EHR has grown drastically in the recent past, further promoting the need for health information exchange to facilitate the exchange of information among systems. The electronic system improves the storage system of information by eliminating paper-based data. It facilitates the health center to give quick and quality improved treatment, fueling the market’s growth rate.
• Furthermore, the growing adoption of technological advancements in healthcare centers and increasing government funding to enhance healthcare information systems are propelling the growth of the health information exchange market. Factors that include increasing demand for PHR and EHR in economically developing nations and growing the adoption of mobile health applications and cloud-based systems will likely provide many growth possibilities to the global health information exchange market during the forecast period.

Market Segmentations

• The Global Electronic Health Information Exchange (eHIE) Solutions Market is segmented based on Setup Type, Solutions, Applications, Implementation Model, and Geography.
• By Setup Type, the market is classified into Private HIE and Public HIE.
• The private HIE phase held the largest share of the setup type phase and is expected to develop lucratively at some stage in the forecast period. This may be attributed to the growing quantity of private healthcare information providers and the high level of health practitioner engagement at each level of the information systems. Moreover, the associated advantages, consisting of excessive workflow performance and the fewer governance problems concerned, are predicted to increase the adoption rate over the forecast period.
• By Solution, the market is classified into Portal-centric Solutions, Messaging-centric Solutions, and Platform-centric Solutions.
• Based on solution type, the platform-centric segment held the largest health information exchange market share. The big share may be attributed to the growing variety of web portal developments facilitating better and handy access to healthcare information. Portal-centric is predicted to develop lucratively throughout the forecast duration. The authorities’ initiatives along with Health Information Technology for Economic and Clinical Health Act (HITECH) focusing on patient engagement, are the key elements that can be anticipated to provide the growth platform for this section.
• By Applications, the market is classified into Web Portal Development, Workflow Management, Secure Messaging, Internal Interfacing, and Other Applications.
• The largest application of the HIE is the web portal development segment, which holds the highest share of the market. This may be attributed to the expanded accessibility of patients' health information, which is on the market through patient portals. For example, FollowMyHealth developed through Allscripts Healthcare Solutions, Inc. Enables the patients to access and have interaction with the providers and benefit valuable insights about their health situations. Internal interfacing is predicted to grow quickly over the forecast duration owing to its potential to acquire maximum patient information.
• By Implementation Model, the market is classified into Centralized, Decentralized, and Hybrid.
• The implementation model segment's largest share was held by the hybrid model segment, which is projected to grow rapidly over the forecast period. The hybrid model, which combines centralized and decentralized models, has many advantages, including a huge amount of data storage capacity and lower cost, which makes it easier for users to use it more frequently. In addition, adopting the hybrid model offers improved operational effectiveness and patient care delivery, which is anticipated to drive the demand for the segment over the duration of the forecast period.
• By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• Americas held the largest revenue share of the health information exchange market. High cognizance pertaining to the HIE systems, continuing government initiatives, non-profit organizations, and outstanding players domiciled in this region, such as Medicity, Inc. and IBM Corp, are responsible for its dominant role within the regional market.
• The Asia Pacific region is predicted to witness lucrative growth opportunities in the future due to the increasing patient population, which necessitates advanced data systems for effective data control and the rising healthcare expenditure within emerging economies, such as China and India.

Recent Development

• Steward Health Care and MEDITECH (U.S.) collaborated on the implementation of MEDITECH's EHR system at 18 locations across Arizona, Texas, Utah, Arkansas, and Louisiana. Steward's 'One Platform'initiative, which aims to unite all 35 hospitals under a single HER, led to this decision. - 2021
• Change Healthcare has released its countrywide Clinical Data Retrieval Solution, a new cloud-based interoperability solution that allows payers to retrieve patient records from electronic health record (EHR) systems swiftly and easily. - 2021

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Electronic Health Information Exchange (eHIE) Solutions Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Electronic Health Information Exchange (eHIE) Solutions Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

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• ● The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
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Report Highlights:

• ● A complete analysis of the market, including the parent industry
• ● Important market dynamics and trends
• ● Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• ● Market segmentation
• ● Competitive Analysis: Comparative analysis of competitor
• ● Historical, current, and projected size of the market based on value and volume
• ● Market size of the US states
• ● Market shares and strategies of key players
• ● Recommendations to companies for strengthening their foothold in the market