Global HIE market predicted to reach $878M by 2018

The global health information exchange (HIE) market is poised to grow from $558 million in 2013 to $878 million by 2018, according to global market research firm MarketsandMarkets. In this instance, HIE is defined as a technology network that is used for the electronic mobilization of healthcare information across or within organizations.

The global HIE market is a highly fragmented market with no clear market leader. Apart from the major players, a number of small and medium-sized players are adopting this technology, driven by reduced costs, quick returns on investment and high profit margins offered by the HIE technology, according to the firm.

In Japan, China, India and South Korea, investments are heavily driven by favorable economic conditions and low labor and healthcare costs.

However, the majority of players are from the U.S., and include AT&T, CareEvolution, Cerner, IBM, Medicity and Intersystems. Players outside the U.S. include GE Healthcare (U.K) and Siemens AG (Germany).

The portal market commanded the largest share in 2013 and is expected to grow in the next five years. The large share of this segment can be attributed to the increasing use of EHRs in the developed economies, according to MarketsandMarkets.