The "Global Healthcare EDI Market by Component (Solution, Service), Delivery Mode (On-premise & Cloud, Mobile) Transaction Type (Claims Management, Payment Remittance, Payments, Healthcare Supply Chain), End-user and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global healthcare EDI market is projected to reach USD 4.4 billion by 2025 from USD 3 billion in 2020, at a CAGR of 7.8% during the forecast period.
Healthcare EDI allows the exchange of computer-processable healthcare data in a standardized format and secure manner among healthcare institutions. Each EDI document has a standardized format, ensuring that data can be quickly sent and interpreted on both sides.
The key factors driving the growth of this market include the development of regulations for transaction processes, the rising need to curtail healthcare costs and government support for HCIT implementation. However, the high implementation cost and data security concerns are expected to restrict market growth to a certain extent. Hesitancy to switch from conventional methods may also challenge market growth in the coming years.
The mobile EDI segment will grow at the highest rate during the forecast period
Based on delivery mode, the global Healthcare EDI market is segmented into web & cloud-based EDI, EDI VAN, point-to-point EDI, and mobile EDI. The factors attributing to the high growth of the mobile EDI segment include the technological upgrades in the healthcare industry and the growing acceptance of mobile solutions among healthcare providers.
By transaction type, the claims management segment accounted for the largest share of the Healthcare EDI market in 2019
On the basis of the transaction type, the global healthcare EDI market is segmented into claims management and supply chain management in 2019. The rising adoption of EDI services by healthcare providers and payers and the need to meet regulatory requirements are driving the increased uptake of healthcare EDI solutions for claims management.
By-products & services, the services segment accounted for the largest share of the healthcare EDI market in 2019
The services segment is expected to witness a faster growth rate in this market due to factors such as, the increasing claims volume, increasing complexity, and scale of EDI solutions, as they require extensive training programs. Similarly, a growing trend of outsourcing activities, such as revenue cycle management, claims handling and management, and partner management services, is also expected to propel the growth of the services market.
By end-user, the healthcare payers segment will grow at the highest rate during the forecast period
Based on end user, the healthcare EDI market is segmented into healthcare providers, healthcare payers, medical device & pharmaceutical industries, and pharmacies. The healthcare payers segment is expected to grow at the highest CAGR during the forecast period due to the increasing number of private insurance players in the market.
The market in North America is projected to witness the highest growth rate during the forecast period (2020-2025)
North America is projected to register the highest growth during the forecast period. This large share can be attributed to factors such as The rising HCIT expenditure, developed healthcare infrastructure, broad insurance coverage, a favorable regulatory scenario, an increasing number of private healthcare players, growing demand for healthcare supply chain management solutions, and the presence of prominent healthcare IT companies in this region, are responsible for the large share of the North American healthcare EDI market.
McKesson Corporation (US), Optum (US), Allscripts Healthcare Solutions Inc. (US), athenahealth (US), and Nextgen Healthcare (US) are the key players operating in the healthcare EDI market.
Other prominent players in this market include Cognizant Technology Corporation (US), SSI Group, LLC (US), Cerner Corporation (US), Comarch SA (Poland), Axway Software SA (France), Optum Inc. (US), Dell Technologies Inc. (US), Nextgen Healthcare (US), Synnex Corporation (US), Comarch (Poland), Axway Solutions (US), and Plexis Healthcare Systems (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Global Healthcare EDI Market, by Product & Service
8 Global Healthcare EDI Market, by Delivery Mode
9 Global Healthcare EDI Market, by Transaction Type
10 Global Healthcare EDI Market, by End-user
11 Global Healthcare EDI Market, by Region
12 Competitive Landscape
13 Company Evaluation Matrix and Company Profiles
Companies Mentioned
- 123 EDI
- AllScripts Healthcare Solutions, Inc.
- Amosoft LLC
- athenahealth, Inc. (A Veritas Capital Company)
- Axway Solutions
- B2BGateway.net
- Cerner Corporation
- Cognizant Technology Solutions Corporation
- Comarch SA
- Dell Technologies Inc.
- Dicentral Corporation
- Experian plc
- McKesson Corporation
- NextGen Healthcare Information Systems, LLC
- Optum, Inc. (A Subsidiary of UnitedHealth Group Inc.)
- Plexis Healthcare Systems, Inc.
- Quadax, Inc.
- SSI Group LLC
- Synnex Corporation
- Waystar Health Company
For more information about this report visit https://www.researchandmarkets.com/r/eisdmh
View source version on businesswire.com: https://www.businesswire.com/news/home/20201230005082/en/
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