(I-BusinessNews.Com, March 04, 2021 ) According to research report Healthcare Middleware Market is expected to reach USD 3.07 Billion by 2023 from USD 1.90 Billion in 2018, at a CAGR of 10.0%.
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This market is experiencing significant growth due to increasing utilization of smart devices, availability of big data in healthcare, increasing need for data interoperability, and growing investments to overcome healthcare interoperability issues.
Product Launches and Enhancements Accounted for the Largest Share of the Overall Growth Strategies Followed by Key Players Between 2015 and 2018. Some of the companies that adopted this strategy include Corepoint Health (US), Cerner Corporation (US), Epic Systems Corporation (US), Fujitsu (Japan), IBM Corporation (US), InterSystems Corporation (US), Oracle Corporation (US), Microsoft Corporation (US), Orion Health (New Zealand), Red Hat (US), Software AG (Germany), TIBCO Software (US), Ascom (Switzerland), Informatica (US), and Zoeticx, Inc. (US). The healthcare middleware market is fragmented in nature with the presence of several large as well as emerging players.
Orion Health is one of the leading technology companies that provide solutions that enable healthcare to over 110 million patients in more than 25 countries. The company holds a key position in the healthcare integration market with the help of its efficient integration solutions and services. Orion’s Rhapsody Integration Engine is used at more than 640 healthcare organizations in 36 countries worldwide. The company mainly focuses on strategic alliances to develop in the healthcare integration and middleware solutions market. Some of the organizations that Orion Health collaborated with in the past three years include Integrated Health Information Systems (Singapore), the Department of Health and Human Services (DHHS) (Australia), Philips (Netherlands), and Greenway Health (US). Moreover, in June 2016, GoHealth Urgent Care (US) selected Orion Health’s Rhapsody Integration Engine to continue to grow and expand its geographic footprint and market reach in the urgent care space. Such strategic alliances enable the company to extend its product offerings and expand its presence across the globe.
InterSystems (US) is well known for its outstanding relationships and commitments with customers and partners, which has positively impacted its business penetration. The company earned its reputation as a preferred vendor by not only offering services to well-known companies such as Epic Systems Corporation and GE Healthcare but also to well-known hospitals in the US. The company’s integrated connected health technology platform-InterSystems Ensemble-is comprehensive and designed to address uncertainties related to healthcare IT implementation and integration.
The company offers cutting-edge technologies and solutions in the healthcare IT integration and middleware segment. It focuses on various strategies like partnerships, agreements, and product enhancements to increase its revenue and expand its business. In January 2016, InterSystems entered into a partnership with Pulse Infoframe (US). In February 2018, the company collaborated with ZOLL Medical to improve the bidirectional exchange of patient health information (PHI) between EMS providers, physicians, and emergency departments, accelerating holistic and high-quality patient care delivery. Moreover, in April 2018, the company along with Olympus Corporation (Japan) launched the Knowledge Exchange System (KE) that helps share images taken during endoscopy procedures across healthcare systems.
In 2018, North America is expected to command the largest share of the healthcare middleware market, followed by Europe, Asia, and the Rest of the World. The large share of North America is attributed to factors such as the implementation of federal health mandates to encourage the adoption of HCIT solutions, rising pressure to curb healthcare costs, increasing investment to improve data interoperability, and the growing adoption of smart devices.
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