Health Information Exchange Market Size, Share & Trends Analysis Report By Setup Type (Private, Public), By Implementation Model (Centralized, Hybrid, Decentralized), By Solution Type, By Application, By Region, And Segment Forecasts, 2024 - 2030

Health Information Exchange Market Trends

The global health information exchange market size was valued at USD 2.02 billion in 2023 and is projected to grow at a CAGR of 9.7% from 2024 to 2030. The health information exchange (HIE) market is expected to expand because of several factors. Healthcare providers need easier access to patient information and better tools to manage vast amounts of data. Moreover, the demand for HIE systems is surging, as the need to grow digitally and securely store and share large amounts of complex healthcare data increases.

Government support for healthcare information technology to improve care quality is another key driver. For instance, in May 2023, Ontario launched a health information exchange (HIE) system called eHub to improve patient care. This system, enabled by Oracle, allows 21 hospitals to securely share patient data, making communication more efficient and reducing the administrative burden. This collaboration between healthcare providers and TransForm aims to enhance care coordination for Ontarians.

Government initiatives and regulations propel the HIE market with the help of regulators such as the Centers for Disease Control and Prevention (CDC) by providing policies and incentives for adopting electronic health records (EHR) and HIE systems. These measures aim to enhance healthcare quality and reduce costs through efficient data exchange. For instance, in April 2024, to improve data exchange between healthcare and public health organizations, the CDC updated the Public Health Data Strategy for 2024-2025. This builds on their initial strategy launched in 2023. The goal was to address data-sharing challenges and ensure a faster response to public health threats.

Technological advancements are boosting the HIE market through innovations in health IT infrastructure, such as cloud computing, artificial intelligence, and interoperability standards. These technologies facilitate more efficient and secure data exchange among healthcare providers. For instance, in July 2024, Flinders University was developing SMART-PH, Australia's AI-powered public health data platform. This platform aims to improve public health surveillance and emergency response by enabling real-time information sharing between healthcare providers and public health authorities.

Setup Type Insights

Private HIEs dominated the market, accounting for a share of 63.6% in 2023, and are expected to grow at the fastest CAGR of 10.0% over the forecast period. The growth of private health information providers and strong physician involvement drives the use of Health Information Exchanges (HIEs). Private HIEs offer easier internal data sharing within healthcare systems and connect seamlessly to public health networks. This efficiency and reduced administrative burden are expected to increase HIE adoption further.

The public HIE segment is expected to grow at a CAGR of 9.1% over the forecast period. Public HIE had a significant market share in the health information exchange market. This segment functions comparatively large due to its extensive spread over the entire community or state. The heavy involvement of the provider community for funding and federal backing are some of the factors that make public HIE more sustainable and thus contribute to market growth. For instance, in February 2024, EHEALTH EXCHANGE announced that the first five HIEs or public health agencies to agree by April 2024 to exchange data for a specific public health use case would get three years of waived annual fees. This incentivizes early adoption for a more robust public health data network.

Implementation Model Insights

The hybrid HIE Model accounted for the largest market revenue share with 60.6% in 2023. The incorporation of the hybrid model offers improved operational efficiency and patient care delivery, which is presumed to propel the demand for the segment throughout the forecast period. For instance, in April 2024, a California non-profit health information exchange (HIE) started providing a free ADT service to encourage participation in the state's data-sharing program, aiming to improve care coordination.

The centralized HIE model is expected to grow at a CAGR of 10.2% over the forecast period. The need to store health-related data, process, and access it when required, along with secure exchange, has been increasing rapidly in recent years. Several hospital systems worldwide created a private HIE system for patient data storage, including internal databases and referring physicians. Such systems are prone to use a centralized HIE model as they have a single, private governing organization, thus boosting the segment growth soon. This model is essential during urgent access to a patient’s history or previous data.

Solution Type Insights

The portal segment dominated the market with revenue share of 40.4% in 2023. The large share can be attributed to the rising number of web portal developments facilitating enhanced and convenient access to healthcare information.

The platform segment is expected to grow at the fastest CAGR of 10.8% over the forecast period. For instance, “Healthix” is one of the public Health Information Exchanges (HIE) in the U.S. and serves New York. They collect data from more than 9,000 healthcare facilities for over 21 million patients. Moreover, government initiatives such as the Health Information Technology for Economic and Clinical Health Act (HITECH) focusing on patient engagement are the key factors that are expected to provide the growth platform for this segment.

Application Insights

The web portal development segment dominated the market with a revenue share of 64.3% in 2023. This can be attributed to the increased accessibility of patient health data, which is accessible through patient portals. For instance, Fujitsu launched a new cloud-based platform for the healthcare sector in Japan to promote personalized healthcare and drug development in March 2023. This platform automatically converts electronic data from medical institutions and can support pharmaceutical companies in R&D activities, discovery of new drugs, personalized healthcare, and medical institutions. Such launches contribute in market growth.

The internal interfacing segment is anticipated to grow at the fastest CAGR of 11.5% over the forecast period, owing to its ability to collect maximum patient information with the help of a robust IT structure. Also, the rapid increase in the importance of integrated HIE and internal systems for a seamless flow of health information is attributed to the segment's growth.

Regional Insights

The North American health information exchange market dominated in 2023. This is attributable to favorable government initiatives to encourage the adoption of health information exchange across various industries. Government authorities in North America invest in AI research and development, establish specialized research institutes and centers, and fund AI-related projects. They also utilize AI in many fields, such as enhancing public safety and transportation and promoting healthcare innovation.

U.S. Health Information Exchange Market Trends

The health information exchange market in the U.S. dominated the market with a share of 85.0% in 2023 due to several strategic activities in the region by key market players, such as the launch of new technology, collaborations, and partnerships. For instance, according to the news reported on March 2024, Orion Health group of companies inaugurated the “State Health Data Center of Excellence (SHDCoE)” in the U.S. The primary focus of this strategic launch was to engage in new collaborations and be an innovation hub to elevate regional Health Information Exchange (HIE) operations in the states.

Europe Health Information Exchange Market Trends

Europe's health information exchange market was identified as a lucrative region in this industry. The increasing awareness in the government about the importance of healthcare data, investments in data centers, strategic partnerships, and advanced technologies are attributable to the growth in Europe. For instance, as per the news the World Health Organization published in December 2023, WHO and the European Commission entered into a partnership to support healthcare services for about 1 billion people, strengthen health information systems, and boost health data governance and interoperability in the European Region. This project cost USD 13.0 million and was supported by the European government. Such initiatives propelled the market growth and are expected to function similarly in the coming years.

The UK health information exchange market is expected to grow rapidly in the coming years due to the rapid expansion of regional companies through partnerships and collaborations. For instance, according to the news published by HDR UK in April 2024, Health Data Research UK (HDR UK) joined hands with the Global Alliance for Genomics and Health (GA4GH) to adopt global standards related to health data and expand open standards work in this space. This collaboration was aimed at bridging the gap between healthcare and research.

Health information exchange market in Germany held a substantial market share in 2023 owing to the notable number of data-driven startups in healthcare. Because of such platforms, the region has an increasing adoption rate of digital services and information exchange, supporting market growth.

Asia Pacific Health Information Exchange Market Trends

Asia Pacific is anticipated to witness fastest growth in the health information exchange market. This growth due to the increasing patient population, which necessitates improved information systems for effective data management as well as the rising healthcare expenditure in the emerging economies, such as China and India.

India health information exchange market is expected to grow rapidly in the coming years due to extensive adoption of digital services by the Indian population. In addition, government initiatives, increasing funding to organize and process the health data of a huge population can result in exponential market growth in the forecast period.

Health information exchange market in China held a substantial market share in 2023 because of the wide acceptance of digital health data management. For instance, in April 2024, China Medical University Hospital (CMUH), Taiwan's first smart hospital, secured a score of 370 out of 400 globally in 2023. This score was based on their Healthcare Information and Management Systems Society (HIMSS) Digital Health Indicator（DHI). This implies enhanced administrative efficiency, improved patient care, and integrated information using digital technology to augment market growth.

Latin America Health Information Exchange Market Trends

The Latin America health information exchange market is anticipated to grow with a significant CAGR in the upcoming years. This can be attributed to various launches of digital programs and government initiatives to improve the coordination in healthcare and associated disciplines. Brazil’s public policies and strategies to promote the flow of information, including those related to healthcare attention, surveillance, and management, contribute to the market growth.

Middle East & Africa Health Information Exchange Market Trends

The Middle East and Africa Health Information Exchange market is anticipated to grow significantly in the forecast period. Several established players in the market have active participation to expand their presence in the region. Many strategic initiatives are being made to follow the cause. For instance, in March 2022, Orion Health group of companies was appointed to build the world's largest HIE for Saudi Arabia and monitor the health data of around 50.0 million people in the region. Such collaborations pave the way for remarkable progress in the market.

Key Health Information Exchange Company Insights

Some of the key companies in the Health Information Exchange market include IBM, Siemens Healthcare Private Limited, Orion Health group of companies, Veradigm LLC, CareEvolution, LLC., Oracle, eClinicalWorks, and RelayHealth (McKinsey & Company). The industry is highly competitive in nature and the players are involved in sustainability strategies such as new product launches, strategic collaborations, mergers & acquisitions, and technological innovation. For instance, in November 2023, IBM implemented Fast Healthcare Interoperability Resource (FHIR) and HL7 with IBM App Connect to integrate complex healthcare data from different formats and provide ease and precision in health information data exchange.

• IBM is involved in providing healthcare technology in combination with digital reinvention. It is accessorized with modern core systems, smart architecture, and a secure platform that provides easy access to clients. IBM also actively functions in consulting with the help of smart strategies.

• Orion Health group of companies has expanded its footprint globally in the health information exchange market. They provide various services to connect health and information across the continuum of care for an integrated, person-centered record. Their services include medication management, clinical portals, reporting and analytics, care plans, and collaborative worklists.

Recent Developments

• In March 2024, Veradigm LLC acquired ScienceIO, a leading AI platform and foundation model provider for the healthcare ecosystem, to accelerate the speed and add value in delivering insights from unstructured data across the customer pool.

• In September 2023, Orion Health group of companies, announced its partnership with Pieces Technologies, Inc., to bring a ground-breaking revolution in healthcare. This collaboration enabled AI-generated patient summaries and clinical insights directly in the company’s portal dashboards, streamlining operations.

• In April 2023, Orion Health group of companies launched the “Orchestral health intelligence platform.” This became the world’s first health-specific data platform with salient features that can be hosted in the cloud or on-premise.

Health Information Exchange Market Report Scope

Global Health Information Exchange Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global health information exchange market report based on setup type, implementation model, solution type, application, and region.

• Setup Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Private HIE

  • Public HIE

• Implementation Model Outlook (Revenue, USD Million, 2018 - 2030)

  • Centralized HIE Model

  • Decentralized HIE Model

  • Hybrid HIE Model

• Solution Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Portal

  • Platform

  • Messaging

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Web Portal Development

  • Internal Interfacing

  • Work flow Management

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait