Market Trends of Healthcare Information Exchange Industry
This section covers the major market trends shaping the Healthcare Information Exchange Market according to our research experts:
Hybrid Model Segment is Expected to Have Significant Share
The hybrid model combines characteristics of both the centralized and decentralized models. In this model, the SDE (Software Development Engineer) does not act as an HIO (Health Information Organization), which means they do not support clinical data. In a hybrid model, each organization manages its data separately, with some data physically stored and managed in a central location that allows for analytics and population health management. Hybrid Models have a variety of benefits, such as leveraging existing HIEs, supporting diverse communities, and minimizing privacy and liability issues. Hence, with the advantages offered by the hybrid model, the market is expected to witness healthy growth over the forecast period.
Asia-Pacific is expected to grow with High CAGR
- North America healthcare information exchange market projected to have a significant market share owing to the well-established healthcare infrastructure, high adoption of healthcare information systems and the rising number of the organized healthcare system.
- The Asia-Pacific economy is growing at a fast pace. Countries like India, China, Japan, and Australia are driving this region to economic prosperity. The main area of concern for this region is proper healthcare for the growing population. With newer hospitals and pharmacies opening up in this region, there will be a lot of data about a patient in the market. This is where accurate analysis of all that data will be crucial.
- Furthermore, increasing healthcare expenditure, increasing government initiations are also a few factors which are boosting the market.
