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Healthcare Electronic Data Interchange (EDI) Market Size 2020, Covid-19 Impact Analysis, Industry Size, Technology Trends, Business Opportunities, Top Company and Regional Statistics, Forecast to 2023
Healthcare Electronic Data Interchange Market Synopsis
Market Research Future (MRFR), in its latest “Global Healthcare Electronic Data Interchange (EDI) Market” report, states that the market is expected to touch a valuation above USD 2674 Mn at 8.8% CAGR across the evaluation period. In the healthcare sector, the enormous generate of data through documents, such as, patient records, health insurance reimbursements, and others are required to be processed and sorted for convenient extraction. The traditional use of paper is an inefficient and cumbersome method. Thus, the need for electronic data interchange (EDI) in healthcare industry is surging. The efficacy of Edi that allows the presentation of healthcare data in standardized format to institutions, healthcare professionals, and patients can prompt the expansion of the global electronic data interchange market.
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The rise in the adoption of EDI for performance management and operational intelligence is another determinate for the market expansion. EDI healthcare transactions offers elimination of paper trails and digitized transactions curbs reduction of costly errors. Moreover, healthcare players are observed to manage significant savings on deploying EDI. Other drives, such as increase in government support for development of IT-based healthcare projects and rise in the demand for reduction in healthcare expenses can accelerate the EDI market growth. In addition, the growing awareness about benefits of using EDI software, adoption of EDI software by reputed pharmaceuticals, and exercising favourable funding policies offered by different healthcare companies are anticipated to spur the growth of the electronic data interchange market.
On the downside, the high installation price of EDI software, hesitancy to remove conventional methods, and data security can limit the market expansion.
Healthcare Electronic Data Interchange Market Key Players
Cognizant, Allscripts Healthcare Solutions Inc., Siemens Healthineers, The SSI Group, LLC, Experian Information Solutions, Inc., ZirMed Inc., GE Healthcare, McKesson Corporation, Optum, Inc., Schreiner Group, Passport Health Communications, Emdeon Inc., and HealthFusion are some reputed companies functioning in the global healthcare electronic data interchange (EDI) software market.
Healthcare Electronic Data Interchange Market Segmental Outline
The global healthcare electronic data interchange market was studied by component, transaction, delivery mode, and end user.
Software and services are electronic data interchange market’s component-based segments. Web and cloud-based EDI, direct (Point-to-Point) EDI, EDI value added network (VAN), and mobile EDI are delivery-mode based segments of the EDI market. The market’s transaction-based segments are payment & remittance advance, claims & encounters, claim attachments, eligibility inquiry and response, enrolments, claim status and response, and referral certification and authorization. By end user, the market segments are pharmaceutical & medical device industries, healthcare providers, and healthcare payers, others. The healthcare payers segment can hold the grand share of the overall market as the rate of adoption of EDI by clinicians and physicians for financial management is high. The pharmaceutical and medical device segment can strike a decent CAGR through the study period.
Healthcare Electronic Data Interchange Market Regional Summary
Americas healthcare electronic data interchange market to be in the forefront. The high pace growth of the healthcare electronic data interchange (EDI) market in Americas can be attributed to surge in healthcare expenditure, increased participation of marketers, and disruptive technologies in EDI software.
Europe EDI market expansion can be attributed to hefty funds offered by governments and the presence of favourable policy implementation.
Asia Pacific healthcare electronic data interchange software market can surge at a high growth rate due to increased investment in information technology. As per the report offered by India Brand Equity Foundation (IBEF), India’s heavy investment in the development of information technology sector can bolster the expansion of the regional EDI market through the evaluation period.
In MEA, the market of healthcare electronic data interchange software can emerge in coming years.
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Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Product Trends & Assessment
Chapter 5. Market Factor Analysis
...TOC Continued
LIST OF TABLES
Table 1 Global Healthcare Electronic Data Interchange (EDI) Market Synopsis, 2018–2023
Table 2 Global Healthcare Electronic Data Interchange (EDI) Market Estimates And Forecast, 2018–2023 (USD Million)
Table 3 Global Healthcare Electronic Data Interchange (EDI) Market, By Region, 2018–2023 (USD Million)
Table 4 Global Healthcare Electronic Data Interchange (EDI) Market, By Component, 2018–2023 (USD Million)
Table 5 Global Healthcare Electronic Data Interchange (EDI) Market, By Delivery Mode, 2018– 2023 (USD Million)
Table 6 Global Healthcare Electronic Data Interchange (EDI) Market, By Transaction, 2018–2023 (USD Million)
...Continued
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Market Structure For Global Healthcare Electronic Data Interchange (EDI) Market
Figure 3 Market Dynamics For Global Healthcare Electronic Data Interchange (EDI) Market
Figure 4 Global Healthcare Electronic Data Interchange (EDI) Market Share, By Component, 2017
Figure 5 Global Healthcare Electronic Data Interchange (EDI) Market Share, By Delivery Mode, 2017
Figure 6 Global Healthcare Electronic Data Interchange (EDI) Market Share, By Transaction, 2017
...Continued
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Contact:
Akash Anand
Market Research Future
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Email: sales@marketresearchfuture.com
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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