Global Healthcare Integration Solutions Market, By Product (Interface Engine, Medical Device Integration, Media Integration), Services (Support and Maintenance Services, Implementation Services, Training Services), Application (Hospital Integration, Medical Device Integration, Lab Integration, Clinics Integration, Radiology Integration, Other Applications) – Industry Trends and Forecast to 2029.
Market Analysis and Size
The healthcare integration solutions market has been growing at a significant growth within the past few years. The market is estimated to grow at a higher pace within the forecasted period due to the surging usage of healthcare integration solutions for managing healthcare data. Moreover, with the outbreak of COVID-19, the market has led to growth in the use of connected care technologies, thus helping the market to expand within forecasted period.
- Data Bridge Market Research analyses that the healthcare integration solutions market is expected to grow at a CAGR of 11.2% during the forecast period. The “hospital integration” accounts for the largest application segment in the healthcare integration solutions market within the forecasted period.
Healthcare integration basically allows to collect and share data with the cloud as well as with each other, allowing for the rapid accumulation of data that can be accurately analyzed. It is a collaboration of health professionals in order to provide patients with comprehensive treatment and improve their overall well-being. Information about patient care can be shared among team members and a comprehensive treatment plan can be established with the help of integrated healthcare.
Healthcare Integration Solutions Market Dynamics
Increasing Need For Integrated Healthcare Systems
The need for integrated healthcare systems to improve healthcare quality and outcomes is the most significant factor driving the growth for this market. In addition to this, the need to build a single platform for patient records and other healthcare providers and the need to increase the efficiency of current medical practices and institutions are also projected to boost the overall growth of the market.
Moreover, the factors such as the rising regulatory requirements and healthcare reforms, increased adoption of EHRs and other interoperability solutions in healthcare organizations are also expected to fuel market growth. Additionally, the substantial cost saving achieved through data integration in healthcare industry and increased use of connected care technologies during COVID-19 pandemic also heighten the overall growth of the market.
Furthermore, the market players' introduction of new and advanced technologies extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the favorable government policies, funding programs, and initiatives to deploy healthcare IT integration solutions solutions will further expand the market's growth rate in the future.
On the other hand, the lack of experienced professionals along with lack of skilled and trained personal is expected to obstruct market growth. Moreover, high expenses of servicing and monitoring of these solutions impede the growth of the market. Also, the many interoperability challenges are projected to challenge the healthcare integration solutions market in the forecast period of 2022-2029.
This healthcare integration solutions market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare integration solutions market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Healthcare Integration Solutions Market
The healthcare industry has been heavily impacted by the COVID-19. However, the pandemic offered healthcare integration solutions market some crucial growth opportunities for the demand for precise diagnosis and treatment devices, and connected care technologies have proven to be extremely beneficial, allowing healthcare providers to monitor patients using digitally connected noninvasive devices like home blood pressure monitors and pulse oximeters. Moreover, the rapid surge in various investments and the encouraged use of remote patient monitoring and telehealth solutions to achieve the goal of accurate and timely exchange of patient health records. The increased demand for integrated solutions positively impacted the healthcare integration solutions market.
- On May 2020, During COVID-19, the Mural Virtual Care Solution was launched to provide remote patient surveillance. Mural also enables health systems to activate care protocols relevant to treating COVID-19 patients and assist caregivers in ensuring those protocols are followed, in addition to real-time remote management. The GE Healthcare Mural Virtual Care Solution is a software solution that combines data from multiple systems and devices into a single pane of glass to provide a comprehensive real-time view of patients' status across a specific care area, a hospital, or a health system.
- In December 2020, IBM Watson Health and Salesforce teamed up to assist organisations looking to reopen physical locations in a safe manner. The IBM Digital Health Pass and Salesforce Work.com Workplace Command Centre have been integrated to provide organizations with a single hub from which to make data-driven decisions. The solution is intended to make it easier for people to share their vaccination and health status via their smartphones in a secure and private manner.
Global Healthcare Integration Solutions Market Scope
The healthcare integration solutions market is segmented on the basis of product, services and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Interface Engine
- Medical Device Integration
- Media Integration
On the basis of product, the healthcare integration solutions market is segmented into interface engine, medical device integration and media integration. The medical device integration software is projected to hold the largest market share within the product segment.
- Support and Maintenance Services
- Implementation Services
- Training Services
On the basis of services, the healthcare integration solutions market is segmented into support and maintenance services, implementation services and training services.
- Hospital Integration
- Medical Device Integration
- Lab Integration
- Clinics Integration
- Radiology Integration
- Other Applications
On the basis of level of application, the healthcare integration solutions market is segmented into hospital integration, medical device integration, lab integration, clinics integration, radiology integration and other applications. The hospital integration is projected to grow at a highest CAGR in the forecasted period.
Healthcare Integration Solutions Market Regional Analysis/Insights
The healthcare integration solutions market is analysed and market size insights and trends are provided by country, product, services and application as referenced above.
The countries covered in the healthcare integration solutions market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the healthcare integration solutions market because of the rise in the incidence of various diseases, increasing adoption of electronic health records, and technological advancement in this region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 owing to the rise in telehealth and integration solutions and increasing government initiatives in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The healthcare integration solutions market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for healthcare integration solutions market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the healthcare integration solutions market. The data is available for historic period 2010-2020.
Competitive Landscape and Healthcare Integration Solutions Market Share Analysis
The healthcare integration solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare integration solutions market.
Some of the major players operating in the healthcare integration solutions market are Lyniate, IBM, Oracle, Epic Systems Corporation., Summit Healthcare Services, Inc., Orion Health group of companies, iNTERFACEWARE Inc., Allscripts Healthcare, LLC, InterSystems Corporation, Cerner Corporation., Infor, McKesson Corporation, Wipro GE Healthcare Pvt Ltd., Agfa Gevaert NV, Siemens, NXGN Management, LLC., Epic Systems Corporation, Allscripts Healthcare, LLC., and BD among others.