Healthcare Electronic Data Interchange (EDI) Market Scenario
Market Research Future (MRFR) analysed the Global healthcare electronic data interchange (EDI) market 2020 between 2018 and 2023. As per MRFR assessment, the healthcare electronic data interchange market can expand at 8.8% CAGR. On the conclusion of evaluation period, the healthcare electronic data interchange (EDI) market can value above USD 2674 Mn.
The enormous amount of documentation work in the healthcare sector requires effective and time-saving solutions. The high efficacy of healthcare electronic data interchange solution in storing, processing, retrieving, and searching of data can explain the rise of the market. Electronic data interchange in healthcare aid in the conversion of computer-processed data in a standardized format that is easily accessible and read by healthcare professionals, patients, and institutions. Thus, the surge in the adoption of EDI for excellent operational intelligence and better management of performance are factors that can drive the healthcare EDI market. The growing need to curtail healthcare costs and provide high number of benefits associated with EDI software can support the expansion of the healthcare EDI software market across the analysis period. On the contrary, the healthcare EDI software market can experience hindrance in expansion due to lack of effective data security solutions.
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Healthcare Electronic Data Interchange (EDI) Market Segmentation
The segment assessment of the healthcare electronic data interchange market is done by transaction, component, end user, and delivery mode.
The component based segment of the healthcare electronic data interchange market are services and software.
The delivery mode based segment of the healthcare electronic data interchange market are EDI value added network (VAN), web and cloud-based EDI, mobile EDI, and direct (Point-to-Point) EDI.
The transaction based segment of the healthcare electronic data interchange market are eligibility inquiry and response, claims & encounters and payment & remittance advance, claim status and response, claim attachments, referral certification and authorization, and enrolments.
The end user based segments of the healthcare electronic data interchange market are pharmaceutical & medical device industries, healthcare providers, healthcare payers, and others. The healthcare payers segment can hold a decent value in the global market. The rise in the adoption of EDI for effective financial management in pharmaceuticals and medical device industries can significantly impact the market.
Healthcare Electronic Data Interchange (EDI) Market Regional Assessment
The Americas can register surge in the regional healthcare electronic data interchange market value. As per MRFR regional assessment, the regional market can dominate in the worldwide healthcare electronic data interchange market. This is due to increase in healthcare expenditure and increase in the participation of several market players. Advancements and continuous upgradation of EDI software can impact the rise of the healthcare electronic data market across the study period. In Europe, the healthcare electronic data interchange market can thrive as governments across countries of Europe are funding major T&D projects and are introducing favourable policies. APAC Healthcare EDI market can rise at different regions, such as India and Japan among other Asia Pacific regions. The healthcare electronic data interchange market in the Asia Pacific region can thrive due to the extensive exercising of information technology solutions in the region. In Middle East and Africa, the Healthcare Electronic Data Interchange (EDI) Market can rise as the awareness regarding EDI software solutions increases.
Healthcare Electronic Data Interchange (EDI) Market Key Players
McKesson Corporation, The SSI Group, LLC, Allscripts Healthcare Solutions Inc., Siemens Healthineers, Optum, Inc., Schreiner Group, Experian Information Solutions, Inc., ZirMed Inc., Emdeon Inc., Passport Health Communications, GE Healthcare, Cognizant, and HealthFusion among others are some prominent players that are operating in the healthcare electronic data interchange market, as listed by MRFR.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Product Trends & Assessment
Chapter 5. Market Factor Analysis
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