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Monetization and Data Sharing Benefits to Bolster Global Data Exchange in Healthcare Market Growth

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.

“Browse 28 Market Data Tables and 35 Figures spread over 151 Pages, along with an in-depth TOC on the Global Data Exchange in Healthcare Market Forecast 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

Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with 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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Related Reports:

GLOBAL ARTIFICIAL INTELLIGENCE IN HEALTHCARE

GLOBAL BIG DATA ANALYTICS IN HEALTHCARE

GLOBAL BIG DATA AS A SERVICE

 

 

 

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