USD 4 billion
Global Healthcare Electronic Data Interchange Market Size, Share, Growth Analysis, By Component(Services, Solutions), By End-Use(Healthcare Payers, Healthcare Providers), By Delivery Mode(Web, Cloud-based EDI) - Industry Forecast 2024-2031
Report ID:
SQMIG35C2007 |
Region:
Global |
Published Date: February, 2024
Pages:
250
|
Tables:
92 |
Figures:
76
Global Healthcare Electronic Data Interchange Market Insights
Healthcare Electronic Data Interchange Market size was valued at USD 4 billion in 2019 and is poised to grow from USD 4.38 billion in 2023 to USD 8.44 billion by 2031, growing at a CAGR of 9.6% in the forecast period (2024-2031).
Rising need to curb the healthcare costs along with the high technological advancements especially in developed countries such as United States, Japan, France, and Germany are key factors expected to drive the growth of the market during the forecast period. In addition, a rapid surge in the number of global end-users coupled with the increasing adoption of electronic data interchange (EDI) solutions and services is contributing significantly to the growth of the market.
Furthermore, highly innovated electronic data interchange services like web-based EDI for addressing issues regarding authentication, data integrity, and confidentiality is also likely to propel the growth of the global market over the forecast period. Rising development and innovations in the American National Standards have helped electronic data interchange more useful for Business-to-Business transactions.
Additionally, increasing prevalence of various types of delivery modes used in electronic data interchange services or solutions including web and cloud-based EDI, mobile EDI, and applicability statement version 2 are likely to have a positive impact on the global market over the coming years. A surge in the number of hospitals in the developing countries including India, China, and Indonesia is propelling the adoption of EDI services/solutions around the globe.
US Healthcare Electronic Data Interchange Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Services
Fastest Growth
Solutions
Growth Rate
9.6% CAGR
Global Healthcare Electronic Data Interchange (EDI) Market, 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Healthcare Electronic Data Interchange (EDI) Market Size By Component, 2022-2028 ($ Bn)
Global Healthcare Electronic Data Interchange (EDI) Market Size By Component, 2022-2028 (%)
To get more reports on the above market click here to Buy The Report
Global Healthcare Electronic Data Interchange Market Segmental Analysis
Global healthcare electronic data interchange market is segmented on the basis of component, end-use, delivery mode, and region. By component, the market is segmented into services and solutions. By end-use, the market is categorized into healthcare payers, healthcare providers, pharmaceutical industry, and others. By delivery mode, the market is classified into web and cloud-based EDI, EDI value added network, direct EDI, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Healthcare Electronic Data Interchange Market Analysis by Component
By component, the services segment held the largest market share in 2021 and is projected to maintain its position throughout the forecast period. Continuously rising rate of outsourcing electronic data services by several healthcare organizations and growing demand for scalability and integrity are the key factors expected to drive the growth of the regional market over the coming years.
Furthermore, the solutions segment is anticipated to grow at fastest growth rate during the forecast period owing to the rising prevalence of e-invoicing, EDIFACT manifests, and others. And, several features of these services like lowering administrative costs, accelerates information processing, eliminate certain business transactions, and ensuring data accuracy are also propelling the segment growth.
Healthcare Electronic Data Interchange Market Analysis by End-Use
By end-use, the healthcare payers segment accounted for the highest market share in 2021 due to the rising popularity of several types of insurance plans, prevention and detection of fraudulent claims, and disease risk assessment. Rising focus on advanced technologies and systems for providing convenient solutions to the global consumers is also likely to foster the growth and demand for the segment market in the near future. On the other hand, the healthcare providers segment is estimated to have a higher growth rate over the forecast period. That is simply attributed to the growing adoption of electronic data interchange for financial management and performance management across the globe.
Global Healthcare Electronic Data Interchange (EDI) Market By Component, 2021 (%), 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Healthcare Electronic Data Interchange Market Regional Insights
Globally, North America dominated the healthcare electronic data interchange (EDI) market 2021 and is projected to retain its position over the forecast period owing to higher adoption of advanced healthcare information technology and large presence of key market players such as McKesson Corporation, Optum Inc., and The SSI Group LLC. Moreover, rising demand for electronic data interchange solutions among various pharmaceutical companies and manufacturers of medical devices to enhance their services and offerings around the globe.
Furthermore, Asia Pacific is witnessing fastest CAGR during the forecast period due to the development of several government policy reforms, economic development, and high growth in the IT industry. Additionally, rising population burden and continuously increasing patient volume along with the implementation on HCIT programs in countries like India, Australia, and Japan, are expected to fuel the demand and growth of the EDI market in the region over the coming years.
Global Healthcare Electronic Data Interchange (EDI) Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Healthcare Electronic Data Interchange Market Dynamics
Healthcare Electronic Data Interchange Market Drivers
- Improvements in EDI Services Driving Market Growth
An extensive rise in the enhancement and development of healthcare electronic data interchange solutions such as faster processing, uninterrupted workflow, patient satisfaction, and improved productivity are the major factors expected to drive the growth of the global market during the forecast period. Furthermore, increase in global outsourcing of EDI services coupled with the rising focus on minimizing manufacturing cost and reducing wastages at every stage are also projected to have a positive impact on the global market for EDI services in the coming years.
Healthcare Electronic Data Interchange Market Restraint
- High Implementation Cost Hampering Market Growth
High implementation cost of various EDI software due to the inadequate internal systems and clearinghouses adding with highly expensive setup costs are likely to hamper the growth of the global healthcare electronic data interchange (EDI) market over the forecast period. In many regions, the adoption of EDI solutions is very low among small-medium sized service providers because of the high investment requirement, which is a key factor hindering growth of the market.
Request Free Customization of this report to help us to meet your business objectives.
Global Healthcare Electronic Data Interchange Market Competitive Landscape
Global healthcare electronic data interchange market is fairly fragmented with the presence of many well-known and established international companies around the globe. Key players are focusing on various development activities such as collaborations, acquisitions, partnerships, new technology innovations, and reducing operation cost to expand their market reach and product offerings to cater the rising demand from the global consumers.
Healthcare Electronic Data Interchange Market Top Player’s Company Profiles
- Allscripts Healthcare Solutions Inc.
- Athenahealth Inc.
- Cerner Corporation
- Change Healthcare
- Conduent Inc.
- Dell Technologies Inc.
- Emdeon Inc.
- GE Healthcare
- IBM Corporation
- McKesson Corporation
- Optum Inc.
- Philips Healthcare
- Siemens Healthcare GmbH
- Surescripts
- Synnex Corporation
- Wipro Limited
- Xerox Corporation
- Zirmed Inc.
- Experian Health
- NextGen Healthcare Inc.
Healthcare Electronic Data Interchange Market Recent Developments
- In September 2022, McKesson Corporation signed an agreement to acquire Rx Savings Solutions, a prescription price transparency and benefit insight company. This acquisition helps McKesson to extend leadership in access, adherence solutions, affordability, and leveraging company’s differentiated platform.
- In July 2022, Nextgen Healthcare, a leading provider of cloud-based and innovative healthcare solutions, announced the expansion of its relationship with InstaMed, a J.P. Morgan company, to improve the payment processing with the help of NextGen® Pay Powered by InstaMed.
Global Healthcare Electronic Data Interchange Key Market Trends
- Technological Advancements to Surge Market Growth
Increasing prevalence of adoption of advanced healthcare technology along with the growing investments by key market players for the enhancement and development of EDI solutions, are creating lucrative growth opportunities for the global market over the coming years. Additionally, high usage of EDI in manufacturing and distribution industry and rising penetration for integration platform as a service are other key trends fueling the demand and growth of the market at a significant growth rate.
Global Healthcare Electronic Data Interchange Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, global healthcare electronic data interchange market is witnessing a strong growth during the forecast period owing to expanding patient base, growing need for curtail healthcare costs, and increased consumer spending capacity on healthcare segment. In addition, an extensive rise in the number of deaths occur due to cardiovascular diseases, is forcing consumers to avail healthcare EDI products for various reimbursement claims, and is projected to contribute significantly to the growth of the global market in the coming years. However, limited access to high technology in regions such as Asia Pacific and lack of consumer awareness about latest innovations are major factors hindering the growth of the market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4 billion |
| Market size value in 2031 | USD 8.44 billion |
| Growth Rate | 9.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Healthcare Electronic Data Interchange Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Healthcare Electronic Data Interchange Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Healthcare Electronic Data Interchange Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Healthcare Electronic Data Interchange Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Healthcare Electronic Data Interchange Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Healthcare Electronic Data Interchange Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Healthcare Electronic Data Interchange Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 617-230-0741
