The Europe data exchange in healthcare market is expected to register a CAGR of 28.10% during the forecast period, 2022-2030, and is set to reach a revenue of $4834.66 million by 2030.

The data exchange in healthcare market growth in Europe is accredited to the availability of a skilled workforce, investments from major companies, advanced healthcare systems, and high per capita income. Also, there is increasing adoption of advanced analytics to offer data-driven insights.

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In addition, the region has managed to minimize the cost of possible emergency services and care. However, the Europe data exchange in healthcare market growth is restrained by the privacy fear among patients regarding health information misplacement.

The Europe data exchange in healthcare market growth assessment includes the evaluation of Poland, Belgium, the United Kingdom, Italy, France, Germany, and Rest of Europe. In Germany, the government actively participates in regularizing and developing digitalization in healthcare. For instance, the government initiated a law, ‘Digital Care Act,’ in 2019 to digitalize the healthcare system. At the same time, digitalization has not yet been actualized, with 95% of contact between hospitals and outpatient physicians still conducted on paper.

However, the Hospital Future Act (KHZG) invested €4.3 billion ($4.3 billion) in IT to address this issue. In addition, on May 2021, the Federal Republic of Germany and the World Health Organization (WHO) planned to establish a new global hub for epidemic and pandemic surveillance, data, analytics innovation, and intelligence. Such initiatives to digitize healthcare services propel the data exchange in healthcare market growth in Germany.

In Italy, there is an increasing need for an efficient National Health Service to foster enhanced digital healthcare solutions. Also, the country has recognized the need for eHealth. Accordingly, there have been efforts to implement and extend digital healthcare services. One such initiative is the ‘Single Reservation Center.’ While another of its initiatives, the Electronic Health File (EHF), enables the citizens to share, consult, and track their health history. As per the national law, the EHF infrastructure manages all socio-healthcare and healthcare digital data and documents generated by the patient’s present and past clinical events. Such factors boost the data exchange in healthcare market growth in Italy.

The Europe data exchange in healthcare market scope includes deployment, type, setup, and implementation model. The implementation model segment includes decentralized, centralized, and hybrid.

The most popular healthcare data exchange mechanism is the hybrid structure that combines federated and centralized models. It enables medical testing, risk stratification, and clinical analytics by facilitating patient cohorts across the data warehouse. Whereas the centralized data exchange model integrates a multitude of public health data outlets, providers, and payers, in a single shared data pool. In addition, individual organizations contributed to a centralized clinical data registry. Besides, the centralized model is straightforward but efficient for aggregating information from different sources since all data is stored in a single database controlled by a powerful central authority.

Furthermore, the centralized model can be effective for community-level data analytics programs and population health management, given all information from the participating region is held in the same place. Moreover, health information sharing is not simple since the integrated model is better at data collection than moving it back into the health information in the provider ecosystem.

Some of the leading companies in the Europe data exchange in healthcare market are Medicalchain SA, McKesson Corporation, Longenesis, HealthVerity, etc.

Medicalchain SA uses blockchain technology to facilitate a user-focused electronic health record while maintaining a single true version of the user’s data. Also, the company enables the user to provide healthcare professionals access to their health data. It has its headquarters in London, the United Kingdom.

One of its key products, Medicalchain as a Healthcare Platform, offers the infrastructure for digital health applications and services to be built.

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