According to the new market research Healthcare Integration Market is expected to reach USD 3.73 Billion by 2021 from USD 2.30 Billion in 2016, at a CAGR of 10.2% from 2016 to 2021.
In the last few years, the healthcare integration market has witnessed substantial growth across globe. This market is mainly driven by factors such as rising healthcare costs, strong government support and initiatives, the growing need to integrate healthcare systems, and efforts from healthcare providers to maximize their returns on investment. However, various interoperability issues, a fragmented end-users market, and the high cost of implementation for healthcare IT integration solutions are posing several challenges to the overall growth of the market.
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The healthcare integration market in North America and Europe is growing at a significant rate owing to the rising government incentives, presence of highly developed healthcare systems in these regions, immense application scope, rising adoption of EHR and other healthcare IT solutions, and the presence of major market players in these regions. However, in the coming years, the Asia-Pacific region is expected to become the growth center for the global healthcare IT integration market. Markets in China, Japan, and India are expected to witness significant growth between 2016 and 2021 primarily due to the growing healthcare awareness among the population in these countries, presence of less stringent regulations, improving healthcare infrastructure, and increasing demand for quality healthcare at low costs.
The top five players in the global healthcare integration market account for ~60% of the market share. In order to maintain their share, leading players are continuously embracing new technologies and striving to develop and launch robust and cost-effective integration solutions in the market. This strong focus on innovation is helping the industry solve existing challenges and overcome the unmet needs in the market.
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Some of the prominent companies in the healthcare integration market are Infor, Inc. (U.S.), InterSystems Corporation (U.S.), Cerner Corporation (U.S.), Orion Health (New Zealand), Quality Systems, Inc. (U.S.), Interfaceware, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), Qualcomm Life, Inc. (U.S.), AVI-SPL, Inc. (U.S.), Corepoint Health (U.S.), and Oracle (U.S.).
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