Healthcare IT Integration Market In-depth Insights by 2030 Business Strategies and Huge Demand by 2030

Global Healthcare IT Integration Market : Overview

The global healthcare IT integration market is to reach a value of $11.2 Billion by 2030 from $4.38 Billion in 2022, at a CAGR of 12.4%. The healthcare IT integration market is majorly driven by the substantial cost saving achieved by data integration in the healthcare industry.

The increased adoption of electronic health records and other healthcare IT solution has given rise to urgent need to integrate patient data into healthcare systems, funding programs, favourable government policies and initiatives to site the healthcare IT integration solutions.

Although, the high cost and interoperability issues correlated with healthcare IT integration solutions restrict the overall adoption of these solutions.

Patient data is confidential, complex and often amorphous. Amalgamating this information into the healthcare delivery process is a challenge, which has to be addressed to realize opportunities for better patient care.

However, EHRs have been in use for more than a decade, the market has picked up rapidity recently due to government initiatives in various countries to improve patient data security.

For example, in the US, the Health Information Technology for Economic and Clinical Health (HITECH) Act, validated under the American Recovery and Reinvestment Act (ARRA), grants funding for incentivizing hospitals and physicians who demonstrate the meaningful use of EHRs.

Key Market Trends: Growth Determinants and Challenges:

The stipulation for EHR and EMR platforms to manage complicated patient data has increased. Hospitals are thoroughly focusing on amplifying their capabilities by integrating EHRs into various hospital systems.

Players functioning in this market have also combined their EHR platforms with telehealth solutions and enhanced the software solutions to help healthcare providers to manage COVID-19 patients effectively.

Key EHR vendors such as Cerner Corporation, Allscripts, Epic Systems and MEDITECH have combined their EHR platforms with telehealth solutions to provide healthcare professionals with the choice of virtual patient visits.

The official requirements laid under HITECH have thrusted the adoption of EHRs and EMRs. Another key consideration in the country is the rising number of Accountable Care Organizations (ACOs), which increases the need for EMRs and EHRs.

Government demarche in other countries such as Denmark, France, Sweden and Canada are also encouraging the adoption of EHRs and obligating their meaningful use for controlling the increasing healthcare costs and improving the quality of patient care.

Moreover, IT services help integrate various end users in the entire healthcare system, including hospitals, pharmacies, nursing care units and medical insurance companies.

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Segmental Analysis of Global Healthcare IT Integration Market:

Based on Products

• Media Integration Software
• Medica Device Integration Software
• Interface Integration Engines
• Other Integration Tools

Based on Services

Implementation and Integration Services

• Consulting Services
• Training and Education Services
• Support and Maintenance Services

Based on End-User

• Diagnostic Imaging Centres
• Clinics
• Hospitals
• Laboratories
• Other End-Users

Based on Region North America accounts for the largest market share:

North America accounted for the largest share of the healthcare IT integration market, Europe being the second largest.

Factors like the widespread adoption of clinical device connectivity and interoperability solutions to curtail the rising healthcare costs, the increasing number of coronavirus (COVID-19) patients in the US.

Stringent regulations and guidelines imposed by various government and non-government authorities such as the Federal Communications Commission (FCC)and the Centres for Medicare and Medicaid Services (CMS) are driving the growth of the healthcare IT integration solutions in North America.

Competitive Landscape:

• Innovation
• Wipro, Ltd.
• Cognizant
• AVI-SPL Inc.
• Athena Health
• Change Healthcare
• OSPLABS
• Redox Inc.
• Medical Information Technology Inc.
• IBM
• Siemens Healthineers
• Summit Healthcare Services
• Oracle Corporation
• Orion Health Group Ltd.
• INTEERFCEWARE Inc.
• NextGen Healthcare Inc.
• Inter Systems Corporation
• Epic Systems Corporation
• INFOR
• Capsule Technologies Inc.
• Cerner Corporation
• GE Healthcare

Major Developments:

In September 2021 Lyniate introduced Lyniate Rapid -a healthcare API gateway and manager designed to help health teams create and safeguard APIs, including Fast Healthcare Interoperability Resources (FHIR)-based APIs.

In April 2021, Lyniate acquired Datica, Inc. The acquisition of Datica Integration Business has extended the ability of its customers to connect and aggregate the data from multiple systems of record through FHIR.

In January 2021 Koninklijke Philips N.V. signed an agreement with Capsule Technologies Inc. aiming to acquire Capsule Technologies, Inc. under its Connected Care segment, to expand its product offering in the segment.

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Major questions answered in the report:

• Which are the key players that are operating in the Global Healthcare IT Integration Market?
• Which region is dominating the Healthcare IT Integration Market?
• What are some major developments discussed in the Healthcare IT Integration Market?

Key takeaway from the report:

• Analysis, Trends and Growth of Global Healthcare IT Integrated Market.
• Market to grow at a CAGR of 12.4% during the predicted forecast period reaching a value of $11.2 Billion by 2030.
• Regional Analysis of Healthcare IT Integration Market.
• Healthcare IT Integration Market Overview