Health Information Exchange Market To Reach $3.86 Billion By 2030

Health Information Exchange Market Growth & Trends

The global health information exchange market size is anticipated to reach USD 3.86 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 9.7% from 2024 to 2030. The increasing need for greater access to patient health information is a potent driver of the health information exchange (HIE) market. Additionally, the increasing awareness pertaining to the HIE owing to the presence of government and non-profit organizations, such as Healthcare Information and Management Systems Society (HIMSS), is the major factor expected to drive the growth of the aforementioned industry over the forecast period.

Furthermore, the increasing focus towards advanced healthcare solutions along with the increased provision of funds from government organizations to expand healthcare information systems is expected to increase the adoption of HIE systems in the near future. For example, the presence of the Agency for Healthcare Research and Quality (AHRQ), which is instrumental in providing funds pertinent to HIE implementation in the U.S.

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Health Information Exchange Market Report Highlights

• Private HIEs dominated the market, accounting for a share of 63.6% in 2023, and are expected to grow at the fastest CAGR of 10.0% over the forecast period. This dominance is attributed to presence of a larger number of service providers and higher cost efficiency in the above-mentioned segment.

• Under the category of implementation model of HIE, the hybrid model segment is anticipated to grow at a lucrative rate due to the associated benefits, such as improved patient care delivery and enhanced operational efficiency of the practices

• On the basis of solution type, the platform segment is expected to grow at the fastest CAGR of 10.8% over the forecast period. This can be attributed to the benefits associated with platform-centric solutions, such as storage of colossal amounts of data and facilitated HIE, thus the implied demand for the products in the health information exchange market.

• In terms of applications, the internal interfacing segment is anticipated to grow at the fastest CAGR of 11.5% over the forecast period. The increasing need to connect with a larger number of patients through the use of patient engagement tools and internal interfacing is presumed to propel the demand for the HIE market.

• The North American health information exchange market dominated in 2023. The health information exchange market in the U.S. dominated the market with a share of 85.0% in 2023 due to several strategic activities in the region by key market players, such as the launch of new technology, collaborations, and partnerships.

• Asia Pacific is anticipated to witness fastest growth in the health information exchange market due to the rising disposable income levels, the increased awareness levels amongst healthcare practitioners regarding the HIE systems, the presence of outsourced HIE service providers, and the rising investments in the healthcare industry by the major players

Health Information Exchange Market Segmentation

Grand View Research has segmented the health information exchange market on the basis of setup type, implementation model, solution type, application, and region:

Health Information Exchange Setup Type Outlook (Revenue, USD Million, 2018 - 2030)

• Private HIE

• Public HIE

Health Information Exchange Implementation Model Outlook (Revenue, USD Million, 2018 - 2030)

• Centralized HIE Model

• Decentralized HIE Model

• Hybrid HIE Model

Health Information Exchange Solution Type Outlook (Revenue, USD Million, 2018 - 2030)

• Portal

• Platform

• Messaging

Health Information Exchange Application Outlook (Revenue, USD Million, 2018 - 2030)

• Web Portal Development

• Internal Interfacing

• Work flow Management

• Others

Health Information Exchange Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players in the Health Information Exchange Market

• IBM

• Siemens Healthcare Private Limited

• Orion Health group of companies

• Veradigm LLC

• CareEvolution, LLC.

• Oracle

• eClinicalWorks

• RelayHealth (McKinsey & Company)