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(Wireless-NewsWire.Com, August 24, 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.
IBM is one of the leading players in the healthcare middleware market. The company’s strong position in this market can be attributed to its strong brand recognition and extensive product offerings. The company focuses on inorganic as well as organic growth strategies such as acquisitions, partnerships, agreements, collaborations, and product launches in order to expand its existing product portfolio and strengthen its market position. Some of the recently acquired companies include Merge Healthcare (October 2015) and Explorys (April 2015). The company also focused on developing and launching new products such as IBM Cloud Integration (March 2017), IBM Cloud Private Software Platform (November 2017), and new servers and storage software and solutions for cloud computing, and flexible software licensing of its middleware (May 2015). Such product launches enabled the company to strengthen its position in the healthcare middleware market.
Oracle is one of the leading players in the healthcare middleware market. The company’s leading position can attributed to its immense experience in HCIT, strong brand recognition, and robust portfolio of middleware solutions. The company focuses on increasing its share in the market by introducing innovative products. In this regard, in November 2015, the company launched the Oracle Business Intelligence 12c. In February 2018, the company launched its Oracle Cloud services across Asia, Europe, and the Americas. Such launches helped the company to further sustain its position in this market. Furthermore, the company focuses on adopting inorganic strategies such as acquisitions to strengthen its position in the global healthcare middleware market.
Based on application, the healthcare middleware market is segmented into clinical, financial, and operational and administrative applications. The clinical applications segment is expected to account for the largest share of the medical middleware market and is projected to register the highest CAGR during the forecast period.
On the basis of type, the healthcare middleware market is segmented into communication middleware, platform middleware, integration middleware, and other middleware. The platform middleware segment is expected to command the largest share of the medical middleware market in 2018.
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In 2018, North America is expected to dominate the market followed by Europe. Asia is expected to grow at the highest CAGR during the forecast period.
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