Healthcare Interoperability Solution Market size is expected to cross USD 92 billion by the end of 2036, growing at a CAGR of 15% during the forecast period i.e., 2024 – 2036. In the year 2023, the industry size of healthcare interoperability solutions was around USD 19 billion. The growth of this market can be attributed to the increasing use of healthcare interoperability solutions in the healthcare industry especially in hospitals. Suppliers of ambulatory medical care can electronically submit prescriptions to pharmacies using solutions like prescribing interoperability. As per a data, in the US, e-prescriptions accounted for 94% of all prescriptions completed in 2021.
The market is anticipated to expand as more people adopt healthcare interoperability solutions over the projected period as a result of their potential to lower the rising healthcare expenditures. Sharp growth in government health spending at all income levels underlie the new high of USD 9 trillion accounting to 11% of global GDP.
Growth Driver
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~15% |
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Base Year Market Size |
~USD 19 billion |
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Forecast Year Market Size |
~USD 92 billion |
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Regional Scope |
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Type (Solutions, Services)
Based on type, the services segment in the healthcare interoperability solutions market is anticipated to account for the highest share of 55% by the end of 2036. The expansion of this market is being driven by the growing interest of the scientific and healthcare communities in cloud-based platforms and cloud computing to reduce total operating costs for better and faster execution of healthcare applications. Additional factors that are anticipated to support expansion in the analyzed segment include the regular use of additional interoperability solutions and the frequent acquisition of services like software upgrading, training, and maintenance. For instance, to meet the demands of the large-scale company, Reliq Health Technologies Inc. implemented the FHIR (Fast Healthcare Interoperability Resources) standard for their iUGO Care platform in April 2021.
Deployment (Cloud-based, On-premise)
Healthcare interoperability solutions market from the on-premises segment is set to witness the largest revenue share during the time period between 2024 – 2036 on the account of increasing demand for data exchange. These types of software are often used by hospitals to exchange information between different departments. On-site software ensures a quick exchange of relevant information to help doctors and physicians access patient data, improving the success rate of surgeries and treatments. As a result, the adoption rate of on-site interoperable software is more than twice as high in public hospitals with multiple specialty departments.
Our in-depth analysis of the global market includes the following segments:
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Deployment |
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Level |
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Type |
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End User |
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North American Market Forecasts
The North American region is estimated to hold the largest market share of 36% during the anticipated period. The United States, which is one of the main countries that use digital health solutions such as electronic medical records (EHRs) in practically every hospital, is expected to be a major market area for interoperability solutions across North America.
APAC Market Statistics
The healthcare interoperability solutions market in the Asia Pacific is poised to observe a notable revenue share by the end of 2036. Growth in this area is mainly driven by the increasing popularity of healthcare tourism, increased demand for high-quality health care, and higher government spending on hospital infrastructure. Moreover, a large number of patients in highly populated countries such as India and China are generating high volumes of patient data each year which leads to the need for effective data exchange between pharmacies and hospitals.
Key Players
Author Credits: Radhika Gupta, Shivam Bhutani
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