Pune, 13, Dec, 2022: The report analysed by Maximize Market Research, the global healthcare market research firm on “Healthcare EDI Market” covers an extensive competitive and pricing analysis in the report. North America is expected to witness significant growth according to the report. During the Forecast period, the report expects the market to grow from USD 4 Billion in 2021 to USD 8.27 Billion in 2029 at a CAGR of 9.5 percent.
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Healthcare EDI Market Scope and Research Methodology
The report is an in-depth analysis of all the key players in the Healthcare EDI Market by, revenue market share, market penetration, financial status and region. The bottom-up approach was used to validate the market size and its estimation by different segments. Current trends prevailing in the Healthcare EDI Market are presented and historical data is used to forecast growth rate fluctuations to equip stakeholders, investors, market key players and followers about future market conditions.
The Healthcare EDI Market is segmented by Component, Delivery Mode, End-Use and Region for a detailed analysis for understanding the market penetration, competitive structure, pricing and demand analysis. The report aids the formulation of strategic decision-making and finding investment pockets for businesses.
For the competitive landscape, major players and new entrants in the Healthcare EDI Market are collated based on the revenue, portfolio, technological advancements adopted, mergers and acquisitions, joint ventures and strategic alliances. With each company profile, recommendations are provided on investments and estimations of their market size for the forecast period. New entrants can use the report to understand the future course of the Healthcare EDI Market.
SWOT analysis was conducted to provide the strengths and weaknesses of the Healthcare EDI Market while PESTLE was employed to understand the potential impact of the macro-economic, social, political and technological factors affecting the Healthcare EDI Market.
Data was collected using both primary and secondary data collection methods for the analysis. Methods such as surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, marketing professionals, customers and retailers on the demand side and manufacturers, and wholesalers on the supply side were included in the primary methods. Secondary data was methodically collected from a curated selection of sources to ensure the reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
Healthcare EDI Market Overview
Healthcare EDI stands for electronic data exchange that serves as a secure network for transferring important information between healthcare institutions, insurers and patients. It is software that has a set standard and format according to which information is organised. This does away with the giant pile of paperwork, documents and claims for faster and more efficient access to information related to the patient.
Healthcare EDI Market Dynamics
The need for the software arose as a result of an increasing amount of paperwork given the increase in the number of patients. The rise in chronic illnesses and the geriatric population are major factors that are driving the Healthcare EDI Market. The use of the software improved operational efficiency in the healthcare system and reduced the amount of human error since information related to the patient was available digitally.
Governments across economies have significantly reduced healthcare costs with subsidies. This is especially prevalent in developing economies. Such developments increased the influx of patients which has been pushing the Healthcare EDI Market to improve its system and innovate new and better software. This is expected to increase the demand for the Healthcare EDI Market over the forecast period.
However, the lack of technical access is expected to pose a hurdle in the Healthcare EDI Market along with the high cost of Healthcare EDI. Data security is also posing a threat to the sales of EDI in healthcare if proper steps to improve security are not taken in time.
Healthcare EDI Market Regional Insights
The Healthcare EDI Market was dominated by the North American region in 2021. This regional growth is attributed to the presence of major market players in the region. This has driven competition in the regional Healthcare EDI Market, leading to their growth. Rapid urbanisation coupled with the regional economic scenario and increased healthcare spending has resulted in the regional growth of the Healthcare EDI Market.
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Healthcare EDI Market Segmentation
By Delivery Mode:
- Web and Cloud-based EDI
- EDI Value Added Network (VAN)
- Direct (Point-to-Point) EDI
- Mobile EDI
- Healthcare Payers
- Healthcare Providers
- Pharmaceutical & Medical Device Industries
Healthcare EDI Market Key Competitors include:
- Zirmed Inc.
- SSI Group LLC
- Dell Technologies Inc.
- Synnex Corporation
- Quality Systems Inc.
- Cognizant Technology Solutions Corporation
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- Experian PLC
- Optum, Inc. (A Subsidiary of Unitedhealth Group Inc.)
- Mckesson Corporation
- GE Healthcare
Key questions answered in the Healthcare EDI Market are:
- What is Healthcare EDI?
- What is the current growth rate of the Healthcare EDI Market?
- What is the nature of competition in Healthcare EDI industry in developed and developing economies?
- Who are the key players in the Healthcare EDI Market?
- Which industries are the major drivers of the Healthcare EDI Market?
- Who are the market leaders in Healthcare EDI in Europe?
- Who are the market leaders in Healthcare EDI in USA and Canada?
- Who are the market leaders in Healthcare EDI in India, China, Japan and South Korea?
- What are the factors affecting growth in the Healthcare EDI Market?
- Who held the largest market share in Healthcare EDI Market?
- What are the factors for the growth of Asia-Pacific region in Healthcare EDI Market?
- What are the major challenges faced by the Healthcare EDI Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Component, Delivery Mode, End-Use and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading healthcare research firm, has also published the following reports:
Connected Healthcare Market–The Connected Healthcare Market size is expected to reach USD 355.39 billion by 2029 at a CAGR of 27.12 percent during the forecast period. The Connected Healthcare Market is expected to be driven by increasing technological development and growing health awareness.
Healthcare IT Integration Market–The Healthcare IT Integration Market size is expected to reach USD 10.52 billion by 2029 at a CAGR of 12.5 percent during the forecast period. The Healthcare IT Integration Market is expected to be driven by heterogeneity in health information systems and increasing adoption of digitization in the industry.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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