The North America data exchange in healthcare market growth is anticipated to progress at a CAGR of 24.59% during the forecast period, 2022-2030, and is expected to garner a revenue of $4186.08 million by 2030.

The data exchange in healthcare market growth in North America is attributed to the booming healthcare sector in the United States. Also, the government initiatives like the Electronic Health Records (EHRs) and the growth in health-related applications like mHealth are projected to raise market demands.

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In addition, the increasing demand for software processes by companies like Amazon Web Services, Siemens Healthineers, and Definitive Healthcare offers growth opportunities. However, the North America data exchange in healthcare market growth is hindered by healthcare data breach risks.

The North America data exchange in healthcare market growth evaluation includes the analysis of the United States and Canada. The United States is the largest market for healthcare information exchange in North America. This is accredited to the rising adoption of EHR/EMR systems, federal government support for digital tools implementation in healthcare, and the increasing prevalence of chronic diseases. Also, the growing emphasis on consolidation and cost optimization of healthcare IT infrastructure offers growth opportunities. In addition, the country is home to the world’s leading multinational corporations like Johnson & Johnson, NVIDIA, Google, Intel, Microsoft, etc., and encompasses innovative treatments.

Furthermore, the government pushes for the incorporation of smart healthcare tools. For instance, the government will pay healthcare providers to adopt AI algorithms that diagnose eye disease in diabetic and complications in stroke patients. Also, the US Centers for Medicare & Medicaid Services (CMS) announced that it would pay for two AI systems, IDx-DR and ContaCT. Additionally, healthcare institutions are prioritizing the adoption of advanced healthcare information systems to enhance functionality levels. Moreover, continual development in IT provides better options for healthcare professionals to analyze and exchange patient data. Such factors boost the market growth in the United States.

The North America data exchange in healthcare market segmentation includes deployment, implementation model, type, and setup. The setup segment includes private and public.

With regard to public models, health information organizations (HIO) allow secure and integrated sharing of public health queries identified as requiring investigation through other means like laboratory reports and contact tracing. Accordingly, public health owns full patient identifiers used to query the HIO and access clinical data required for public health investigation.

Furthermore, the need for data exchange to transform the healthcare system has resulted in the exponential growth of a number of data exchange initiatives. Also, private data exchanges have become a viable alternative to public model exchanges over the last several years. In addition, private exchanges are concentrated in a single community, and unlike most public data exchanges, do not rely on public funding and are financed by private healthcare organizations. Besides, the associated benefits of private models, like fewer governance issues and high workflow efficiency, are estimated to raise their adoption rates.

Some of the prominent firms operating in the North America data exchange in healthcare market include Datavant, HealthVerity, H1 Inc, Definitive Healthcare Corp, etc.

Datavant creates platforms for preserving, matching, and sharing health information. The company’s platform organizes healthcare data to use in clinical trial decision-making. Also, it focuses on using artificial intelligence to enhance the clinical trial interpretation, design, and process of clinical trials. It is headquartered in San Francisco, California, the United States.

One of its key products, Datavant Switchboard, helps to connect health data and aids in maintaining control and privacy compliance.

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