Global Healthcare Electronic Data Interchange Market by Component (Services, Solutions), by Delivery Mode (EDI Value Added Network, Web & Cloud-based EDI) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global healthcare Electronic Data Interchange (EDI), which was valued at USD 2.7 Billion in 2016, is forecast to grow at a CAGR 9.4% over the forecast period. Market growth is expected to be supported by rising healthcare costs and technological advances in EDI. The market for healthcare electronic data interchange will be supported by a rise in end-users and increased adoption of EDI.

U.S. healthcare EDDI market by delivery mode, 2014-2025 (USD Million).

Electronic data interchange is a great way to keep healthcare costs low, improve the quality of healthcare delivery, and make accurate, detailed, reliable, secure and timely information. Paper forms can be inefficient, cumbersome, and more expensive when data needs are being distributed, retrieved, consolidated, and searched for. Electronic data interchange reduces time and simplifies claims management.

The technologically innovative web-based EDI has addressed issues such as data integrity, confidentiality, authentication, security, and authenticity. Electronic data interchange has become more useful for business-to-business (B2B), transactions thanks to the American National Standards Institute (ANSI), X12 EDI formatting standards. This industry is experiencing rapid growth thanks to the emergence of Extensible Markup Language, (XML), and web-based standards for electronic data interchange.

There are many delivery methods and methods available to provide electronic data interchange services/solutions, such as cloud-based EDI (EDI Value Added Network, VAN), web EDI (point-to point EDI), mobile EDI. Applicability statement version 2 (AS2)), File Transfer Protocol over Virtual Private Network, FTP/VPN, Secure File Transfer Protocol, SFTP, or File Transfer Protocol Secure.

Additionally, the market will see an increase in the number of end users for electronic data interchange solutions/services. Payers, providers, the pharmaceutical and medical device industries, among others, are all end-users. There has been a rise in hospitals in the UK, France, Germany and Benelux. These hospitals are using electronic data interchange to reduce costs. They also have increased tie-ups or partnerships with suppliers or vendors. This will support the growth in this space over the forecast period.

Due to rising competitiveness, pricing pressure and lower profit margins, medical device manufacturers and pharmaceutical industries are adopting electronic data interchange solutions or services. This is expected to help in the growth and development of this vertical.

Component Insights

This study analyzed the components services and solutions. Due to rising outsourcing rates of electronic data interchange services for healthcare organizations and growing demand for scalability, integrity and EDI solutions, the services segment is expected dominate the market.

This is due to growing demand for electronic data interchange solutions like e-invoicing and EDIFACT manifests. It reduces administrative costs, speeds information processing, ensures accuracy, eliminates some business transactions, streamlines business processes, and strengthens vendor or customer relations.

Delivery Mode Insights

This study analyzed the delivery methods EDI VAN and direct EDI. Due to the growing demand from small- and medium-sized healthcare providers, web and cloud-based EDI will be the most prominent segment of this market. This is because it offers affordable solutions and greater flexibility.

Mobile EDI is expected to grow at a higher rate over the forecast period. This is due in part to technological advances in healthcare and the acceptance of mobile solutions by healthcare providers.

End-use Insights

End-use can be divided into providers, payers, medical device, pharmaceutical, and other industries. The market share of payers is expected to be comparatively higher during the forecast period. This is due to the growing demand from healthcare payer organizations and insurance plans for the evaluation and settlement of insurance claims.

The providers segment will, however, see a higher CAGR over the forecast period. This can be attributed to the increasing use of EDI in operational intelligence, performance management and financial management by doctors, clinicians, hospitals and clinics as well as medical assessment centers.

Global healthcare EDI market by region in 2016, (%)

Regional Insights

North America accounted for more than 39.0% of the market share in 2016. This was due to higher adoption of Healthcare Information Technology, (HCIT) and the presence of market leaders such as McKesson Corporation, Cognizant, Optum, Inc., The SSI Group, LLC, ZirMed Inc., and Experian Information Solutions, Inc.

Europe is expected to also hold a significant market share over the forecast period. This is due to the growing demand for electronic data interchange solutions/services by pharmaceutical companies and medical devices manufacturers in Europe to combat rising competitiveness, pricing pressure and lower profit margins.

Asia Pacific's market will be driven by policy reforms, economic growth, and a growing IT industry. This vertical is expected to grow due to rising patient volumes, increased data management requirements, and the implementation of HCIT programs (India, Japan, Australia)

Healthcare Electronic Data Interchange Market Share insights

GE Healthcare, McKesson Corporation, Cognizant, Allscripts Healthcare Solutions Inc., Siemens Healthineers, Optum, Inc., Schreiner Group, The SSI Group, LLC, ZirMed Inc., and Experian Information Solutions, Inc. are some of the key players in this space.

These companies focus on growth strategies like new product launches, mergers & acquisitions, and collaboration. To strengthen its digital business, operations, and systems capabilities, Cognizant purchased Adaptra in Sydney, Australia, in December 2016. This was to help develop technology-focused segments and to increase their business's effectiveness.

Healthcare Electronic Data Interchange Market Report Scope

The Report Covers Certain Segments

This report provides an analysis of current trends and forecasts revenue growth for each sub-segment between 2014 and 2025. Grand View Research, Inc. analyzed the market for healthcare electronic data interchange on the basis product, region, and end-use.

• Component Outlook (Revenue USD Million, 2014-2025)

  • Services

  • Solutions

• Delivery Mode Outlook (Revenue USD Million, 2014-2025)

  • Web-based and Cloud-based EEDI

  • EDI Value Added Network - VAN

  • Direct (Point to Point) EDI

  • Mobile EDI

• End-Use Outlook (Revenue USD Million, 2014-2025)

  • Healthcare Payers

  • Healthcare Providers

  • Industries for Medical Devices & Pharmaceuticals

  • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa (MEA).

    • South Africa

These are the most frequently asked questions about this report

b. Global healthcare electronic data interchange market was valued at USD 3,395.55 Million in 2019. It is forecast to grow to USD 3,701.63 Million in 2020.

b. Global healthcare electronic data interchange market will grow at a compound annual rate of 9.4% between 2019 and 2025, to reach USD 5,874.58 millions by 2025.

b. With a market share of 43.99%, North America dominated healthcare electronic data interchange in 2019, This can be attributed to a higher adoption rate of Healthcare Information Technology (HCIT) and the presence of large market players.

b. b.

b. The key factors driving growth in the healthcare electronic data interchange market include rising healthcare costs, technological advances in EDI, surge in end-users and increasing adoption of EDI.

Up Market Research published a new report titled “Healthcare Electronic Data Interchange Market research report which is segmented by Component (Services, Solutions), by Delivery Mode (EDI Value Added Network, Web & Cloud-based EDI), By Players/Companies LLC; ZirMed Inc; and Experian Information Solutions, Inc, Inc; Schreiner Group; The SSI Group, GE Healthcare; McKesson Corporation; Cognizant; Allscripts Healthcare Solutions Inc; Siemens Healthineers; Optum”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Healthcare Electronic Data Interchange Market Report Segments:

The market is segmented by Component (Services, Solutions), by Delivery Mode (EDI Value Added Network, Web & Cloud-based EDI).

Healthcare Electronic Data Interchange Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Healthcare Electronic Data Interchange Market

Overview of the regional outlook of the Healthcare Electronic Data Interchange Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Healthcare Electronic Data Interchange Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Healthcare Electronic Data Interchange Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Services

                2. Solutions

                1. EDI Value Added Network

                2. Web & Cloud-based EDI

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Healthcare Electronic Data Interchange Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Healthcare Electronic Data Interchange Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.