According to the estimations put forth by Inkwood Research, the Global Data Exchange in Healthcare Market is anticipated to project a CAGR of 23.66% in terms of revenue during the forecasting years of 2021-2028.
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2021-2028.”
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Data exchange within the healthcare market evolved with the
digitization across healthcare. Subsequently, customer data platforms also
emerged, owing to which, healthcare professionals can now store patient data
from paper to digitally operated data platforms. Although restraints such as
stringent data protection laws, as well as security concerns associated with
the patients’ sensitive medical data, hinders its development, the global data
exchange in healthcare market continues to progress.
Advantages
of Data Sharing and Monetization Fuels Market Growth
Data sharing entails myriad advantages, including, increased
efficiency, enhanced customer experience, and reduced costs. Moreover, the
technology also helps gain a competitive edge, in addition to obtaining
maximized profits. In terms of healthcare, data sharing reduces hospital
visits, progresses the quality of care, boosts patient experience, helps
doctors make informed decisions, improves the accuracy of clinical research and
the efficacy of a drug, and strengthens coordinated care. As a result, the
advantages of data sharing in healthcare are expected to positively influence
market growth.
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Provider Segment
to Lead the Type Category
Providers of data exchange in healthcare entail clinics and
hospitals using Health Information Systems (HIS). It involves a system
developed to manage healthcare data, that collects, organizes, stores, and
transmits patients’ electronic medical records (EMR).
According to the World Health Organization (WHO),
recognizing the importance of health information solutions, capable of
generating reliable data, has augmenting over time. In this regard, the
healthcare sector’s reformation and decentralization across several nations,
have resulted in shifting functions among the peripheral and central levels.
This further generates new information requirements, coupled with transitioning
demands for data collection, analysis, dissemination, and processing.
North
America to be the Dominating Region by 2028
With the highest revenue share across the data exchange in
healthcare market, North America’s demand is fueled by the thriving healthcare
sector, primarily within the United States. Moreover, increasing government
initiatives, such as, the rising health-associated applications, and the
growing adoption of Electronic Health Records (EHRs), in addition to data
analytics requirements, and the improved software processes developed by
leading players, is anticipated to facilitate the region’s market growth.
The intense rivalry among market players is attributed to
the rising competition across chief regions, such as, Europe and North America.
Subsequently, companies attempt to acquire market shares by augmenting
expansions and introducing new product developments. Leading firms also strive
to improve their existing product portfolio through significant investments, in
order to reinforce their respective market positions.
Some of the distinguished enterprises operating in the
market are, H1, Zenome, Snowflake Inc, Siemens Healthineers, etc.
About Inkwood Research
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relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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