Healthcare data interoperability market to reach $3 billion by 2025

June 17, 2019

The Healthcare Data Interoperability Market is set to grow from its current market value of more than $2 billion to over $3 billion by 2025; as reported in the latest study by Global Market Insights, Inc.

Increasing technological advancements in healthcare data interoperability software will positively influence industry growth in coming years. Key industry players such as Allscripts and Orion Health undertake several efforts to integrate innovation in interoperability software utilized by healthcare facilities. Recently developed healthcare data exchange software is highly efficient and improve the data transfer process. Important patient and other clinical data can be transferred securely through technologically advanced interoperability software. This scenario proves beneficial for the industry growth as it increases the demand for healthcare data interoperability software.

Rising government initiatives in North America and other developed regions will surge the industry growth in forthcoming years. Government annually spends stupendous amount on promoting development in healthcare software that enables efficient data management. Such initiatives increase availability of technologically upgraded data interoperability software that facilitate data exchange process. However, high price of the medical data interoperability software will restrain the industry growth to some extent.

Semantic segment is anticipated to witness over 9.5% growth throughout the forecast period. Semantic interoperability enables healthcare professionals to exchange, interpret and use clinical information to provide proper treatment. It structures the data that makes it easy for doctors to analyze information accurately. Moreover, semantic level of interoperability supports secured electronic exchange of patient’s information amongst hospitals, diagnostic centers, pharmacists and also proves to be a cost-effective option.

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Topic Area: Information Technology

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