Overview and Scope
Healthcare data integration is the process of combining and consolidating data from several sources within the healthcare ecosystem into a single set that can be cleansed, converted, and analyzed to deliver essential insights and business intelligence to the healthcare industry. This integration enables healthcare organizations to access a comprehensive view of patient information, clinical data, administrative records, and other relevant data types to support decision-making, improve patient care, enhance operational efficiency, and facilitate regulatory compliance.
Sizing and Forecast
The healthcare data integration market size has grown rapidly in recent years. It will grow from $2.03 billion in 2023 to $2.40 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to growth in adoption of clinical decision support systems (CDSSs), shift towards value-based care models emphasizes integrated data, rise of value-based care models , need for data-based decision-making, escalating adoption of cloud-based data integration solutions.
The healthcare data integration market size is expected to see rapid growth in the next few years. It will grow to $4.67 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to adoption of electronic health records (EHRs), increasing demand for Interoperability data, rise in digital health solutions, advancements in data analytics and artificial intelligence (AI) in healthcare, focus on improving patient care. Major trends in the forecast period include Shift to electronic health records (EHRs), integration of diverse data sources, shift towards value-based care, advancements in technology, telehealth expansion.
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Segmentation & Regional Insights
The healthcare data integration market covered in this report is segmented –
1) By Component: Tools, Services
2) By Type Of Integration: Application Integration, Data Integration, Device Integration, Healthcare Information Exchange (HIE), System Integration, Other Integrations
3) By Deployment: Cloud, On-Premises
4) By Business Application: Marketing, Sales, Operations And Supply Chain, Finance, Human Resources (HR)
4) By End-user: Hospital, Clinics, Laboratories, Other End-users
North America was the largest region in the healthcare data integration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare data integration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing adoption of electronic health records (EHRs) is expected to propel the growth of the healthcare data integration market going forward. Electronic health records (EHR) are digital systems that securely store and manage patient health information, enabling efficient access, sharing, and analysis among healthcare providers. The demand for electronic health records (EHR) IT systems is rising due to improved efficiency, data centralization and accessibility, interoperability, and patient engagement. Healthcare data integration solutions are crucial in achieving interoperability by connecting EHR systems with other healthcare IT systems, such as laboratory information systems (LIS), pharmacy systems, and radiology systems. For instance, in 2021, according to the Office of the National Coordinator for Health Information Technology (ONC), a US-based national health information technology infrastructure, the adoption of certified electronic health record technology among non-federal acute care hospitals in the United States increased from 96% in 2021 to 97% in 2022. Therefore, the increasing adoption of electronic health records (EHRs) is driving the growth of the healthcare data integration market.
Key Industry Players
Major companies operating in the healthcare data integration market are McKesson Corporation, Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, Salesforce Inc., Koninklijke Philips N.V., GE Healthcare, Cerner Corporation, Experian Information Solutions Inc., SAS Institute Inc., Epic Systems Corporation, Allscripts Healthcare Solutions Inc., Informatica Inc., Siemens Healthineers AG, InterSystems Corporation, NXGN Management LLC, QlikTech International AB, Optum Inc., Health Catalyst, Innovaccer Inc., Orion Health, Veradigm LLC, Denodo Technologies, 1upHealth
The healthcare data integration market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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