GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET FORECAST 2021-2028

In terms of revenue, the global data exchange in healthcare market was valued at $xx million in 2020, and is expected to reach $6427.81 million by 2028, growing at a CAGR of 23.66% during the forecast period. The market study has also analyzed the impact of COVID-19 on the data exchange in the healthcare industry qualitatively and quantitatively. 

data-exchange-in-healthcare-market

Key drivers of the global data exchange in healthcare market growth are:

  • Benefits of data sharing and monetization
  • Emergence of data-driven social partnerships
  • Increasing digitization of healthcare data
    • There is a growing demand for big data for healthcare, due to the increasing requirement for digitization applications. Digital health and big data have really impacted treatment, care structure, the way the medical professions are overlooked, and patients' roles.
    • With big data, a large quantity of data can be shared easily in a structured manner. According to the projections of industry sources, around 2,314 exabytes of new healthcare data have been generated.

Key factors restraining the market growth are:

  • Non-standard and strict data protection laws and regulations
  • Security concerns related to sensitive patient's medical data
    • The breach of healthcare data has been found on a larger scale. The data sharing security concerns include data theft, unauthorized access of data, hacking of data, data loss, etc. This is majorly due to the wide use of EHRs (Electronic Health Records) and the data threats that arise from the same.
    • The interconnected healthcare data systems system with insurance companies and other healthcare professionals has also added disadvantages. Easy access to healthcare data has been a huge issue for almost everyone.
  • Lack of skilled and expert staff

The report on the global data exchange in healthcare market includes the segmentation analysis of type.

Market by Type:

  • Biotech
  • Pharma
  • Provider
    • The provider segment is anticipated to be the fastest-growing type in the market. Most providers like hospitals and clinics use Health Information Systems data platforms, which also involve patient key, remote patient monitoring, and more.
    • The healthcare data reforms will further bring shifts in its functions among the central and other levels, gathering new requirements for big data collection, processing, and more.
  • Payer
  • Other Types

Geographically, the global data exchange in healthcare market has been segmented on the basis of four major regions, which includes:

  • North America: The United States and Canada
  • Europe: The United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and Rest of Europe
    • Europe is anticipated to be the most dynamic regional market, recording the highest CAGR by 2028. Europe is the largest consumer in the healthcare industry, owing to the demand for healthcare data exchange in major economies, such as the United Kingdom, Germany, and Poland.
    • The growth of healthcare analytics is majorly rising in the United Kingdom. The region could have become a world leader of the same, if there were fewer data exchange barriers. These barriers are due to the government regulatory bodies like HSCIC (Health and Social Care Information System), CPRD (Clinical Practice Research Datalink), etc.
    • Germany has the second-largest healthcare industry after the UK. Still, it lags behind in the digitization of the healthcare industry. Owing to several government reforms, like Hospital Future Act (KHZG), the big data in healthcare is said to be evolved more towards digital management.
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
  • Rest of World: Latin America, Middle East & Africa

The major players in the global data exchange in healthcare market are:

  • AWS
  • Definitive Healthcare
  • H1
  • Siemens Healthineers
  • Snowflake    
  • Others

Key strategies adopted by some of these companies:

In January 2021, Datavant partnered with Kythera to use its Wayfinder platform. The aim was to lessen the constant challenges found in healthcare data platforms by its users. In July 2020, HealthVerity acquired Curisium, which is specialized in data sharing while being compliant with privacy. In April 2020, BurstIQ launched Research Foundry, a coalition of entrepreneurs and enterprises worldwide to solve the health challenges. 

Key findings of the global data exchange in healthcare market:

  • Telemedicine is being increasingly used in the healthcare market, owing to its wider usage while monitoring the patients remotely across long distances. This platform further enables the healthcare industry to be more flexible in its work.
  • Many key players such as AWS, BurstIQ, Datavant, and Siemens Healthineers are currently investing in research and the production of Data-as-a-Platform (DaaP) in the healthcare market.
  • With the increasing application of data exchange in healthcare and the growing usage of Electronic Health Records (EHRs) by various types, the demand for data exchange in the healthcare market is expected to increase over the forecast period.

 

Frequently Asked Questions (FAQs):

The global data exchange in healthcare market was valued at $1275.35 million in 2020.
The Europe region is set to project the fastest growth during the forecast period.
TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. BENEFITS OF DATA SHARING AND MONETIZATION
      2. EMERGENCE OF DATA-DRIVEN SOCIAL PARTNERSHIPS
      3. INCREASING DIGITIZATION OF HEALTHCARE DATA
    2. KEY RESTRAINTS
      1. NON-STANDARD AND STRICT DATA PROTECTION LAWS AND REGULATIONS
      2. SECURITY CONCERNS RELATED TO SENSITIVE PATIENT'S MEDICAL DATA
      3. LACK OF SKILLED AND EXPERT STAFF
      4. INADEQUATE INFRASTRUCTURE TO SUPPORT DATA SHARING
  4. KEY ANALYTICS
    1. IMPACT OF COVID-19 ON DATA EXCHANGE IN HEALTHCARE MARKET
    2. KEY INVESTMENT INSIGHTS
    3. PORTER'S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. OPPORTUNITY MATRIX
    5. VENDOR LANDSCAPE
    6. KEY BUYING CRITERIA
      1. COST
      2. DATA SHARING FEATURES
      3. INTEROPERABILITY
    7. REGULATORY FRAMEWORK
  5. MARKET BY TYPE
    1. BIOTECH
    2. PHARMA
    3. PROVIDER
    4. PAYER
    5. OTHER TYPES
  6. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. KEY GROWTH ENABLERS
      2. KEY CHALLENGES
      3. KEY PLAYERS
      4. COUNTRY ANALYSIS
        1. UNITED STATES
        2. CANADA
    2. EUROPE
      1. KEY GROWTH ENABLERS
      2. KEY CHALLENGES
      3. KEY PLAYERS
      4. COUNTRY ANALYSIS
        1. UNITED KINGDOM
        2. GERMANY
        3. FRANCE
        4. ITALY
        5. RUSSIA
        6. BELGIUM
        7. POLAND
        8. REST OF EUROPE
    3. ASIA-PACIFIC
      1. KEY GROWTH ENABLERS
      2. KEY CHALLENGES
      3. KEY PLAYERS
      4. COUNTRY ANALYSIS
        1. CHINA
        2. JAPAN
        3. INDIA
        4. SOUTH KOREA
        5. INDONESIA
        6. THAILAND
        7. VIETNAM
        8. AUSTRALIA & NEW ZEALAND
        9. REST OF ASIA-PACIFIC
    4. REST OF WORLD
      1. KEY GROWTH ENABLERS
      2. KEY CHALLENGES
      3. KEY PLAYERS
      4. REGIONAL ANALYSIS
        1. LATIN AMERICA
        2. MIDDLE EAST AND AFRICA
  7. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PARTNERSHIPS, CONTRACTS/AGREEMENTS & COLLABORATIONS
      3. BUSINESS EXPANSIONS/DIVESTITURES
    2. COMPANY PROFILES
      1. AWS MARKETPLACE (AMAZON)
      2. BURSTIQ LLC
      3. CLOUDERA
      4. CLOUDTAG INC
      5. CLOUDTICITY
      6. DATAVANT
      7. DEFINITIVE HEALTHCARE
      8. HEALTH VERITY
      9. H1
      10. LONGENESIS
      11. MEDICAL CHAIN
      12. OPTUM
      13. SIEMENS HEALTHINEERS
      14. SNOWFLAKE
      15. ZENOME
LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – DATA EXCHANGE IN HEALTHCARE 

TABLE 2: REGULATORY FRAMEWORK         

TABLE 3: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)        

TABLE 4: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)        

TABLE 5: GLOBAL BIOTECH MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)      

TABLE 6: GLOBAL BIOTECH MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)      

TABLE 7: GLOBAL PHARMA MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)      

TABLE 8: GLOBAL PHARMA MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)      

TABLE 9: GLOBAL PROVIDER MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)      

TABLE 10: GLOBAL PROVIDER MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)      

TABLE 11: GLOBAL PAYER MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)      

TABLE 12: GLOBAL PAYER MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)      

TABLE 13: GLOBAL OTHER TYPES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)   

TABLE 14: GLOBAL OTHER TYPES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)   

TABLE 15: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)       

TABLE 16: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)         

TABLE 17: NORTH AMERICA DATA EXCHANGE IN HEALTHCARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)       

TABLE 18: NORTH AMERICA DATA EXCHANGE IN HEALTHCARE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)         

TABLE 19: LEADING PLAYERS OPERATING IN NORTH AMERICA DATA EXCHANGE IN HEALTHCARE MARKET  

TABLE 20: EUROPE DATA EXCHANGE IN HEALTHCARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)       

TABLE 21: EUROPE DATA EXCHANGE IN HEALTHCARE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)        

TABLE 22: LEADING PLAYERS OPERATING IN EUROPE DATA EXCHANGE IN HEALTHCARE MARKET      

TABLE 23: ASIA-PACIFIC DATA EXCHANGE IN HEALTHCARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)       

TABLE 24: ASIA-PACIFIC DATA EXCHANGE IN HEALTHCARE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)         

TABLE 25: LEADING PLAYERS OPERATING IN ASIA-PACIFIC DATA EXCHANGE IN HEALTHCARE MARKET  

TABLE 26: REST OF WORLD DATA EXCHANGE IN HEALTHCARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)       

TABLE 27: REST OF WORLD DATA EXCHANGE IN HEALTHCARE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)         

TABLE 28: LEADING PLAYERS OPERATING IN REST OF WORLD DATA EXCHANGE IN HEALTHCARE MARKET

TABLE 29: LIST OF MERGERS & ACQUISITIONS

TABLE 30: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 31: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 32: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER'S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020

FIGURE 6: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY BIOTECH, 2021-2028 (IN $ MILLION)

FIGURE 7: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY PHARMA, 2021-2028 (IN $ MILLION)

FIGURE 8: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY PROVIDER, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY PAYER, 2021-2028 (IN $ MILLION)

FIGURE 10: GLOBAL DATA EXCHANGE IN HEALTHCARE MARKET, BY OTHER TYPES, 2021-2028 (IN $ MILLION)

FIGURE 11: NORTH AMERICA DATA EXCHANGE IN HEALTHCARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 12: UNITED STATES DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 13: CANADA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 14: EUROPE DATA EXCHANGE IN HEALTHCARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 15: UNITED KINGDOM DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 16: GERMANY DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 17: FRANCE DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 18: ITALY DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 19: RUSSIA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 20: BELGIUM DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 21: POLAND DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 22: REST OF EUROPE DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 23: ASIA-PACIFIC DATA EXCHANGE IN HEALTHCARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 24: CHINA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 25: JAPAN DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: INDIA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: SOUTH KOREA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 28: INDONESIA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: THAILAND DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 30: VIETNAM DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 31: AUSTRALIA & NEW ZEALAND DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 32: REST OF ASIA-PACIFIC DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: REST OF WORLD DATA EXCHANGE IN HEALTHCARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 34: LATIN AMERICA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 35: MIDDLE EAST AND AFRICA DATA EXCHANGE IN HEALTHCARE MARKET, 2021-2028 (IN $ MILLION)

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