The health information exchange (HIE) market produced $990.6 million in revenues in 2015 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% to reach $1.55 billion by 2020, according to a new report from MarketsandMarkets.
Market growth is being driven by incentive programs for providers as well as government initiatives to curtail healthcare costs and improve the quality of patient care, MarketsandMarkets said. For example, the North American HIE market benefits from U.S. federal mandates and the growing number of accountable care organizations as HIE users. The region is also boosted by digital health measures in Canada, as well as Canadian efforts to enhance the delivery of healthcare, MarketsandMarkets said.
The Asia-Pacific region is projected to produce the highest CAGR during the forecast period, however.
