Global Healthcare Electronic Data Interchange (EDI) Market Size, Share, Growth Report 2030

The research includes forecasts and analyses for the global and regional healthcare electronic data interchange (EDI) markets The report offers historical data from 2016 to 2018 as well as a revenue (USD Million)-based estimate for 2019 to 2025. The report covers the market drivers and constraints for Healthcare Electronic Data Interchange (EDI) and how they will affect demand throughout the projected period. The research of prospects in the worldwide Healthcare Electronic Data Interchange (EDI) market is also included in the report. We have included a competitive landscape and Porter’s Five Forces model analysis for the Healthcare Electronic Data Interchange (EDI) market to provide readers of this study with a thorough understanding of the industry.

According to the report, global demand for Healthcare Electronic Data Interchange (EDI) Market was valued at approximately USD 3618.91 Million in 2018, and is expected to generate revenue of around USD 5928.07 Million by end of 2025, growing at a CAGR of around 9.53% between 2018 and 2025.

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Electronic data interchange is the definition of digital business communication. Healthcare electronic data interchange makes it easier for patients, healthcare providers, and organisations to share computer-processable electronic health information in an accessible manner. Benefits of healthcare EDI include standardisation, cost savings, increased productivity, and faster processing. For a structured, compliant information exchange, healthcare providers, for instance, can use a pre-defined transaction set to submit requests for claim status and receive information. Electronic data interchange transactions in the healthcare industry are not email exchanges, in contrast to standard EDI.

The market is divided into segments according to components, delivery modes, end users, and regions in the study, which offers a conclusive perspective on the healthcare electronic data interchange (EDI) market. Based on current and projected trends, every segment has been examined, and the market’s size is projected through 2025. The market is divided into two segments: services and solutions, based on the component. The services segment is predicted to lead the industry because of the growing number of healthcare institutions outsourcing electronic data interchange services and the growing need for scalable and dependable EDI solutions. The solutions segment is expected to increase favourably throughout the projected period due to the increasing demand for electronic data exchange solutions, such as e-invoicing, as it lowers administrative expenses.

The market is divided into four segments based on the Delivery Mode segment: Web and Cloud-based EDI, Mobile EDI, Direct (Point-to-Point) EDI, and EDI Value Added Network (VAN). The online and cloud-based EDI segment is anticipated to lead the market because to the increased demand from small and medium-sized healthcare providers for its cost-effective solutions along with improved elasticity and scalability. The mobile EDI segment is anticipated to have relatively higher CAGRs during the forecast period. This is attributable to developments in healthcare technology and the increased uptake of mobile solutions by healthcare providers.

The market is divided into three segments: Payer, Provider, and Others, based on the end user sector. The payers segment is anticipated to achieve a relatively greater market share during the projection period. This is because insurance plans and healthcare payer systems are placing more and more pressure on these parties to evaluate insurance claims before paying out, prevent and detecting fraudulent claims, and evaluate the risk of a certain illness.

The demand forecast and current for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are included in the geographical segmentation. North America maintained a significant market share in 2018 because of the region’s greater use of healthcare information technology (HCIT) and the presence of important industry players including the SSI Group, LLC, McKesson Corporation, and Experian Information Solutions, Inc. In order to combat growing competition, price pressure, and declining profit margins, Europe is also expected to hold a sizable market share during the forecast period due to the growing demand for electronic data interchange services / solutions between pharmaceutical companies and medical device manufacturers in the region.

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Electronic data interchange services and solutions that are technologically creative, such as web-based EDI, have improved to address challenges related to data integrity, confidentiality, and authentication. Advances in the ANSI X12 EDI formatting standard have rendered business-to-business (B2B) transactions advantageous for electronic data interchange. The development of web-based standards and extensible markup language (XML) in electronic data interchange is impeding the industry’s expansion. Electronic data interchange services and solutions, including file transfer protocol on virtual private network (FTP / VPN), secure file transfer protocol (SFTP) or file transfer protocol secure (FTPS), web and cloud-based EDI, EDI Value Added Network (VAN), direct (point-to-point) EDI, mobile EDI, Applicability Statement Version 2 (AS2), are provided through a variety of delivery methods.

Key players within global Healthcare Electronic Data Interchange (EDI) market include Allscripts Healthcare Solutions Inc., Cognizant, Experian Information Solutions, Inc., GE Healthcare, McKesson Corporation, Optum, Inc., Schreiner Group, Siemens Healthineers, The SSI Group, LLC and ZirMed Inc. amongst others.

The report segments global Healthcare Electronic Data Interchange (EDI) market as follows:

Global Healthcare Electronic Data Interchange (EDI) Market: Component Segment Analysis