Market Challenges And Opportunities

However, factors such as lack of interoperability solutions and shortage of skilled healthcare IT professionals are expected to hamper growth of the market.

Global Healthcare Interoperability Solutions Market Drivers:

Increasing implementation of Healthcare IT solutions across the world is expected to augment growth of the global healthcare interoperability solutions market over the forecast period. For instance, hospitals and health care providers across the globe are implementing Healthcare IT solutions, such as EHR systems, to digitize their health data & processes. In June 2022, SANA Health Solutions announced the launch of its digital healthcare business with an aim to simplify the long and tedious search for employee welfare and healthcare programs. To ensure superior customer experience, SANA Health Solutions has partnered with 15 healthcare providers.

Funding by both government and non-government organizations for healthcare interoperability is expected to boost growth of the global healthcare interoperability solutions market over the forecast period. For instance, in September 2020, ONC awarded US$ 2.7 million funding for interoperability innovation initiatives. Using this funding, MedStar Health Research Institute, Chesapeake Regional Information System, and other LEAP in Health IT awardees will launch new projects focused on the use of FHIR (Fast Healthcare Interoperability Resources) and other exchange specs across a variety of use cases.

Global Healthcare Interoperability Solutions Market Opportunities:

Increase in adoption of healthcare interoperability solutions is expected to provide significant growth opportunities for players in the global healthcare interoperability solutions market. For instance, in April 2022, Embratel announced the launch of healthcare interoperability solution, suitable for public/private institutions that seek to solve the challenges of clinical connectivity, information integration and sharing of medical records for an integral view of healthcare. The new solution enables the integration of multiple systems and data, facilitates access to medical history, and makes information management safer.

Favorable government initiatives/support to improve patient care are expected to offer lucrative growth opportunities for players in the global healthcare interoperability solutions market. For instance, as per the Centers for Disease Control and Prevention (CDC), the United States Core Data for Interoperability is an ONC led initiative to provide the common core of standardized data to support treatment, payment, healthcare operations, requests from patients, post-market surveillance, research, public health, and other authorized uses.

Global Healthcare Interoperability Solutions Market Restraints:

Lack of interoperability solutions is expected to hamper the growth of the global healthcare interoperability solutions market. Health data has always been challenging to access and share in a secure manner. Lack of interoperability can disturb the seamless health data exchange. A lack of interoperability can result in an incomplete understanding of an individual's health needs, which can lead to poorer outcomes and higher costs.

Shortage of skilled healthcare IT professionals is expected to hinder growth of the healthcare interoperability solutions market. According to the Healthcare Information and Management Systems Society (HIMSS), 2020, shortage of skilled healthcare IT professionals is the major point of concern in the healthcare industry. Moreover, the WHO estimates a projected shortfall of 15 million health workers by 2030, mostly in low- and lower-middle income countries.