Global HIE market to hit $878M by 2018

The global health information exchange (HIE) market is expected to jump from $558 million in 2013 to $878 million by 2018, according to a report from research firm MarketsandMarkets.

The rising demand for HIE and EHR technologies, the increasing number of U.S. federal government incentive programs and the need to reduce healthcare costs are the major drivers for this market, according to the firm. The private HIE market commanded the largest share of the HIE market, by set-up type, in 2013 and is expected to grow by more than 10 percent annually during the study period. This large share can be attributed to the increased adoption rate, clear business models and rising investments by major HIE vendors such as CareEvolution, Medicity and RelayHealth.

The portal-centric segment of the HIE market, by vendor type, commanded the largest share in 2013 and is expected to experience healthy growth over the next five years, primarily due to increasing use of EHRs in developed countries. 

The web portal development market commanded the largest share of the HIE applications market in 2013 and is expected to grow at more than 7 percent annually during the study period. This large share can be attributed to the increasing number of physicians opting for EHRs driven by the convenience of web-based portals to retrieve information on patients.

North America accounted for the largest share of the global HIE market in 2013, as a majority of HIE companies are concentrated in the U.S. The Asian region is expected to grow rapidly in the forecast period due to government initiatives and increased health IT spending.

MarketsandMarkets identified the major players in the HIE market as AT&T, CareEvolution, Cerner, GE Healthcare, IBM, Intersystems, Medicity, Oracle, Orion Health and Siemens.