Global Healthcare Electronic Data Interchange (EDI) Market, By Component (Services and Solutions), Transaction Type (Healthcare Supply Chain Management and Claims Management), Delivery Mode (EDI Van, Web and Cloud-Based EDI, Mobile EDI and Point-To-Point EDI), End User (Medical Device, Healthcare Payers, Healthcare Providers and Pharmaceutical Industries, and Pharmacies) – Industry Trends and Forecast to 2030.
Healthcare Electronic Data Interchange (EDI) Market Analysis and Size
The global healthcare electronic data interchange (EDI) market is predictable to witness significant growth owing to the growing number of patients suffering from the chronic diseases which will accelerate the market growth rate. Moreover, increasing awareness among the physicians and patients about the benefits of healthcare electronic data interchange (EDI) will provide the beneficial opportunities for the growth of the global healthcare electronic data interchange (EDI) market.
Data Bridge Market Research analyses that the global healthcare electronic data interchange (EDI) market which was USD 4.21 billion in 2022, and is expected to reach USD 8.19 billion by 2030, and is expected to undergo a CAGR of 9.1% during the forecast period 2023-2030. This indicates that the market value. “Services,” dominates the component segment of the global healthcare electronic data interchange (EDI) market owing to the wide range of applications. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Healthcare Electronic Data Interchange (EDI) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Services and Solutions), Transaction Type (Healthcare Supply Chain Management and Claims Management), Delivery Mode (EDI Van, Web and Cloud-Based EDI, Mobile EDI and Point-To-Point EDI), End User (Medical Device, Healthcare Payers, Healthcare Providers and Pharmaceutical Industries, and Pharmacies)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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McKesson Corporation (U.S.), Optum, Inc. (U.S.), Athenahealth (U.S.), Allscripts Healthcare, LLC (U.S.), NXGN Management, LLC (U.S.), Experian plc (U.S.), Cognizant (U.S.), Cerner Corporation. (U.S.), SYNNEX Corporation. (U.S.), Dell (U.S.), The SSI Group, LLC (U.S.), Waystar Health. (U.S.), Comarch SA. (U.S.), Axway (U.S.), PLEXIS Healthcare Systems (U.S.), Archer Software (U.S.), DiCentral. (U.S.),123 EDI (U.S.), Quadax, Inc. (U.S.)
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Market Opportunities
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Market Definition
Healthcare electronic data interchange (EDI) is defined as the consistent way to share the information which gives a secure electronic trade of information between the care providers, healthcare organizations, patients and others. Healthcare claims processing and data processing are offered by it with the security as well as performance.
Global Healthcare Electronic Data Interchange (EDI) Market Dynamics
Drivers
- Increasing Efficiency and Cost Reduction
Healthcare EDI streamlines administrative processes, reducing the need for manual data entry, paperwork, and phone calls. This leads to increased operational efficiency and cost savings for healthcare organizations.
- Rising Accuracy and Error Reduction
Electronic data interchange helps reduce errors associated with manual data entry, leading to more accurate patient records, claims processing, and billing. This minimizes the risk of denied claims and revenue leakage. The increasing accuracy and error reduction is expected to act as a significant driver of the global healthcare electronic data interchange (EDI) market.
- Rise in Data Analytics and Population Health Management
Healthcare EDI generates large volumes of data that can be used for data analytics and population health management. This helps in identifying trends, improving patient outcomes, and reducing costs.
Moreover, EDI systems facilitate the exchange of data between different healthcare IT systems, improving communication and collaboration among healthcare providers and payers, thereby expected to drive the market.
Opportunities
- Increased Adoption of Electronic Health Records (EHRs)
The adoption of EHRs has grown significantly in recent years. Healthcare EDI systems complement EHRs by facilitating the exchange of patient information between different healthcare providers and systems. This will extend profitable opportunities for the market players in the forecast period of 2023 to 2030.
Additionally, healthcare organizations are increasingly embracing digital transformation initiatives. EDI is a key component of this transformation, enabling the digital exchange of data across the healthcare ecosystem which will further expand the market's growth rate in the future.
Restraints/Challenges
- Complexity and Integration Challenges
On the other hand, integrating EDI systems with existing healthcare IT infrastructure can be complex and time-consuming, posing challenges for some organizations. These are the factors expected to obstruct the global healthcare electronic data interchange (EDI) market growth. Moreover, the initial cost of implementing EDI systems can be significant, especially for small healthcare providers, which may deter adoption is projected to challenge the global healthcare electronic data interchange (EDI) market in the forecast period 2023-2030.
This global healthcare electronic data interchange (EDI) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on global healthcare electronic data interchange (EDI) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Global Healthcare Electronic Data Interchange (EDI) Market Scope
The global healthcare electronic data interchange (EDI) market is segmented on the basis of component, transaction type, delivery mode and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Services
- Solutions
Transaction Type
- Healthcare Supply Chain Management
- Claims Management
Delivery Mode
- EDI Van
- Web and Cloud-Based EDI
- Mobile EDI
- Point-To-Point EDI
End User
- Medical Device
- Healthcare Payers
- Healthcare Providers and Pharmaceutical Industries
- Pharmacies
Global Healthcare Electronic Data Interchange (EDI) Market Regional Analysis/Insights
The global healthcare electronic data interchange (EDI) market is analysed and market size insights and trends are provided by country, component, transaction type, delivery mode and end user as referenced above.
The countries covered in the global healthcare electronic data interchange (EDI) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates as well as expected to grow at the highest growth rate during the forecast period of 2023 to 2030 due to the strong presence of sophisticated medical infrastructure, supportive government initiatives levels associated with comparatively higher health expenditure levels in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global healthcare electronic data interchange (EDI) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global healthcare electronic data interchange (EDI) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global healthcare electronic data interchange (EDI) market. The data is available for historic period 2015-2020.
Competitive Landscape and Global Healthcare Electronic Data Interchange (EDI) Market Share Analysis
The global healthcare electronic data interchange (EDI) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global healthcare electronic data interchange (EDI) market.
Some of the major players operating in the global healthcare electronic data interchange (EDI) market are:
- McKesson Corporation (U.S.)
- Optum, Inc. (U.S.)
- Athenahealth (U.S.)
- Allscripts Healthcare, LLC (U.S.)
- NXGN Management, LLC (U.S.)
- Experian plc (U.S.)
- Cognizant (U.S.)
- Cerner Corporation. (U.S.)
- SYNNEX Corporation. (U.S.)
- Dell (U.S.)
- The SSI Group, LLC (U.S.)
- Waystar Health. (U.S.)
- Comarch SA. (U.S.)
- Axway (U.S.)
- PLEXIS Healthcare Systems (U.S.)
- Archer Software (U.S.)
- DiCentral. (U.S.)
- 123 EDI (U.S.)
- Quadax, Inc. (U.S.)
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