The global health information exchange (HIE) market is expected to reach more than $1.5 billion by 2020, according to a new report published by the India-based firm Markets and Markets.
That would be up from more than $990 million in 2015, representing a CAGR of 9.3 percent.
According to the statement from Markets and Markets, numerous factors are leading to this significant growth.
“Factors such as rising mandates for incentive programs for providers and government initiatives to improve the quality of care delivered to patients & curtail the soaring cost of healthcare among providers are propelling the use of HIE among providers across the globe,” the statement read.
During the forecast period, the report indicated that the Asia-Pacific region, not North America or Europe, is projected to grow at the highest CAGR.
Allscripts Healthcare Solutions, RelayHealth, Cerner, eClinicalWorks, NextGen Healthcare Information Systems, Infor, Optum, Epic, and Orion Health are all mentioned in the report as “key players” in the HIE market.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.