Healthcare Integration Market Overview
The report: “Healthcare Integration Market Forecast
(2021-2026)”, by Industry ARC, covers an in-depth analysis of the following
segments of the Healthcare
By Product Type: Medical Device Integration Software, Media
Interaction Solutions, and Interface Engines.
By Service: Implementation Services, Training Services, and Support, and Maintenance Services.
By Application: Hospital Integration, Lab Integration, Medical device Integration, Radiology Integration, Clinics Integration, and Others.
By End User: Hospitals, Laboratories, Diagnostic Imaging Centers, Clinics, Pharmacies, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (the Middle East and Africa).
- Geographically, the North American Healthcare Integration Market accounted for the largest share in 2020 owing to growth in demand for efficiency, patient safety, and patient satisfaction in the region.
- An increase in the use of telehealth services by healthcare providers during the Covid-19 pandemic is driving the market for Healthcare Integration. However, the lack of skilled professionals to operate and maintain the IT infrastructure is a major challenge for the growth of the market in low and middle-income regions.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Healthcare Integration Market Report.
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Healthcare Integration Market Segment Analysis-By Product TypeBased on Product Type, the Healthcare Integration Market is segmented into Medical Device Integration Software, Media Interaction Solutions, and Interface Engines. The Medical Device Integration Software segment is anticipated to have the largest share of the market in 2020 and is poised to dominate the market during the forecast period 2021-2026. The system collects the patient vital sign data from all the health monitoring devices and integrates them into the electronic medical record system. The seamless data transfer eliminates the need for manual data input and transfer thereby, improving efficiency, accuracy, productivity, and reducing errors. The Interface Engines segment is projected to grow the fastest at a CAGR of 9.6% owing to their ability to provide access to data within multiple electronic health records. Moreover, they also help translate data being received from other healthcare facilities to match the format used by the hospital in order to be stored in their central repository.
Healthcare Integration Market Segment Analysis-By End User
Integration Market based on End Users can be further segmented into Hospitals, Laboratories, Diagnostic Imaging
Centers, Clinics, Pharmacies, and Others. The Hospitals segment accounted
for the largest Healthcare Integration Market share in 2020 owing to the
increasing need to improve patient safety, reduce healthcare expenditure,
improve efficiency, and reduce errors. Moreover, the increasing inflow of
patients to hospitals for consultation, treatment, and therapy owing to the rise in
communicable and non-communicable diseases is growing the need to integrate
health systems to efficiently manage the massive amounts of data collected by
the various departments of the hospital. The Laboratories segment is
anticipated to witness the fastest growth during the forecast period at a CAGR
of 10.1% owing to their increasing prevalence in developing regions as the
majority of the small-scale hospitals do not have a dedicated laboratory
Healthcare Integration Market Segment Analysis-By Geography
The Healthcare Integration Market based on Geography can be segmented into
North America, Europe, Asia-Pacific, South America, and the Rest of the World. The
North American segment is projected to dominate the Healthcare Integration Market during the
forecast period 2021-2026 with a market share of 41% owing to the presence of
highly developed healthcare infrastructure, high importance of patient
satisfaction, growing patient population, and massive healthcare expenditure in
the region. Moreover, the presence of key industry players such as Infor,
InterSystems Corporation, Cerner Corporation, Allscripts Healthcare Solutions,
NextGen Healthcare, General Electric Healthcare, Oracle Corporation, and IBM in
the region ensures lower costs, higher innovation, and more options for the end-user. The Asia Pacific region is predicted to register the fastest growth owing to the increase in public and private healthcare funding in
major emerging economies like China and India.
Healthcare Integration Market Drivers
Increase in Use of Tele Medicine is Projected to Drive Market Growth.
The increase in the adoption of Tele Medicine is predicted to drive the demand for Healthcare Integration products for enabling effective data management and transfer. Telehealth involves the distribution of medical information to patients remotely through electronic devices. This allows the patient to gain access to clinician contact, medical care, real-time health monitoring, and remote admissions. In the US, around 76% of the hospitals used telemedicine to connect with patients in 2020. 39.5% of medical professionals practicing in Radiology, 27.8% in Psychiatry, and 24.1%, Cardiology used telemedicine to connect with patients. This helps hospitals provide quality care to patients without increasing their risk of infection during the COVID-19 Pandemic.
The rise in Adoption of Electronic Health Records is Anticipated to Boost Demand.
The increase in the adoption of electronic health
records and other digital systems in the healthcare sector is boosting the
demand for healthcare integration as it is essential for ensuring the proper
management of the substantial volumes of data being generated in healthcare
facilities. In 2009, only 12.2% of US non-federal acute care hospitals had an electronic health records system, according to the American Hospital
Association (AHA). However, in 2015, this number increased to 83.8% and around
96% of them had electronic health record systems certified by the Centers for
Medicare and Medicaid Services (CMS). The penetration of this system in the US is
estimated to have risen to more than 89% in 2020.
Healthcare Integration Market Challenges
The High Risk of Data Breach is Anticipated to Hamper Market Growth.
The growing concern regarding the leak of
confidential patient information from hospital networks, clinics, and diagnostic
centers owing to cyber-attacks is a major challenge that can hamper the market
growth. For instance, on average, more than 3.34 million healthcare records
were breached every month in the US between July 2020 and June 2021 by
ransomware and other cyberattacks. The leaked information includes patient names,
addresses, diagnosis information, contact details, and insurance information.
The American health service provider UHS lost around $67 million in 2020 owing
to network shutdowns caused by ransomware attacks. This is reducing the
confidence of healthcare providers in implementing more IT technologies in
their facilities for integration as data leaks can cause massive financial and
legal issues for the organization.
Covid-19 Pandemic and Subsequent Restrictions is Projected to Limit Growth Opportunities
The rapid spread of the Covid-19 virus and the
increased cases of hospitalizations have led to hospitals diverting funds and
manpower from the IT department. The low priority given to IT owing to
financial and manpower constraints may lead to postponement or cancellation of
planned orders for healthcare integration products and services. This is
projected to restrict the growth of the market. The AHA estimates
that around $202.6 billion of revenue was lost for US hospitals and healthcare
systems owing to the pandemic while developing regions require around $52
billion every 4 weeks to contain the disease. The average cost of treating a
single Covid-19 patient with ventilator support in the US can exceed $88,000.
Healthcare Integration Market Industry Outlook:
Product launches, mergers and acquisitions, joint
ventures, and geographical expansions are key strategies adopted by players in
the Healthcare Integration Market. The top 10 companies in of the industry include:
- Allscripts Healthcare Solutions Inc
- Cerner Corporation
- Epic System Corporations
- Siemens Healthcare
- GE Healthcare
- Core-point Health
- Sandiano Group
- Athena Health
- IBM Corporation
- In February 2020, Allscripts Healthcare Solutions announced its strategic partnership with Manorama Infosolutions, a healthcare IT company located in India, to deliver an integrated Healthcare Management Information System and Health Information Exchange platform. Manorama Infosolutions will Integrate Allscripts interoperability platform called dbMotion Solution with Lifeline Suite of solutions, extending its reach to India.
- In November 2019, GE Healthcare announced the launch of the Edison Developer Program to accelerate the adoption of intelligent applications and developer services across health systems. The program is based on GE healthcare’s intelligence platform called Edison and helps healthcare providers gain easier access to market-ready algorithms and applications by directly integrating these technologies into existing workflows.
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