The global healthcare EDI market size is expected to grow from $3.64 billion in 2021 to $4.03 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The global healthcare electronic data interchange market size is expected to grow to $5.70 billion in 2026 at a CAGR of 9.1%.
What is the Global Healthcare EDI Market?
The healthcare EDI market consists of sales of healthcare electronic data interchange systems by entities (organizations, sole traders, and partnerships) that are used to manage the patient's medical history, the medication data, and the emergency services record, which are considered critical data in the healthcare sector. Electronic Data Interchange (EDI) is the software medium for the transaction of data among various healthcare providers and payers via computer systems. The organizer can process and track claims through the entire billing cycle via the EDI service.
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What drives the Global Healthcare EDI Market?
The increasing government support for healthcare is expected to propel the growth of the healthcare EDI market growing forward. Healthcare EDI is used to share information between the departments and branches in super-specialty hospitals. Healthcare EDI software helps to transmit details including coordination of benefits, claims status and information, insurance data, payment data, and eligibility forms among healthcare. Rising government support for the healthcare industry helps the healthcare sector in developing new equipment and to provide better services for the people. It also helps to increase technology in government hospitals. For instance, according to the Indian Economic Survey, in 2021-22, India's public healthcare spending reached 2.1%, up from 1.8% in 2020-21. Furthermore, the Union budget for 2022 allocated 11.28 billion for the growth of health care. Therefore, the increasing government support for healthcare drives the demand for the healthcare EDI market.
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Global Healthcare EDI Market Segments
The global healthcare EDI market is segmented:
By Component: Software, Hardware, Services
By Transaction: Claim Management, Healthcare Supply Chain, Others
By Mode of Delivery: Mobile, VAN, Web and Cloud-Based, Point-to-Point
By End-User: Healthcare Provider, Payer, Pharmacies, Others
By Geography: The regions covered in the healthcare EDI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Healthcare EDI Global Market Report 2022provides market size and growth forecasts for the global healthcare EDI market, global healthcare EDI market share, healthcare EDI market segments and geographies, healthcare EDI market competitive landscape including leading competitors’ revenues, profiles and market shares. The healthcare EDI market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Healthcare EDI Industry Playersinclude McKesson Corporation, Optum, Allscripts, GE Healthcare, Cognizant, Cerner, Dell Technologies Inc., The SSI Group, Tallan Inc., Quadax, AthenaHealth, Schreiner Group, MuleSoft LLC, and Boomi. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
