Healthcare Electronic Data Interchange (EDI) Market: by Component (Solutions, and Services), Delivery Mode (EDI Value Added Network (VAN), Direct (Point-to-Point) EDI, Mobile EDI, and Web and Cloud-based EDI) and End user (Payer, Provider and Others) – Global Industry Analytics COVID-19 Business Impact, and Trends, 2019-2025

                                          
Abstract


The report covers forecast and analysis for the Healthcare Electronic Data Interchange (EDI) market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Healthcare Electronic Data Interchange (EDI) market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Healthcare Electronic Data Interchange (EDI) market on a global level. In order to give the users of this report a comprehensive view on the Healthcare Electronic Data Interchange (EDI) market we have included competitive landscape and analysis of Porters Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Component, Delivery Mode, End user, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.

According to the report, global demand for Healthcare Electronic Data Interchange (EDI) Market was valued at approximately USD 3618.91 Million in 2018, and is expected to generate revenue of around USD 5928.07 Million by end of 2025, growing at a CAGR of around 9.53% between 2018 and 2025.

The definition of digital business communication is electronic data exchange. Healthcare electronic data interchange facilitates the exchange between healthcare agencies, healthcare professionals, and patients of computer-processable electronic healthcare information in a user-friendly format. Standardization, cost savings, enhanced productivity, and faster processing are some of the benefits that healthcare EDI offers. For example, healthcare providers can send requests for claim status and obtain information through a pre-defined transaction set for organized, compliant exchange of information. In contrast to normal EDI, electronic data exchange transactions in healthcare are not email exchanges.

The study provides a decisive view on the Healthcare Electronic Data Interchange (EDI) market by segmenting the market based on Component, Delivery Mode, End user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on Component, the market is segmented into Solutions, and Services. Due to rising levels of outsourcing of electronic data interchange services by healthcare facilities and increased demand for scalability and reliability of EDI solutions, the services segment is expected to dominate the industry. Due to the growing request for electronic data interchange solutions such as e-invoicing, the solutions segment is anticipated to register favorable growth over the forecast period as it reduces administrative costs, ensures data accuracy, accelerates information processing,  eradicates certain business transactions, streamlines business procedures and toughens customers and vendor relationships.

Based on the Delivery Mode segment, the market is bifurcated EDI Value Added Network (VAN), Direct (Point-to-Point) EDI, Mobile EDI, and Web and Cloud-based EDI.  Because of the growing demand from small and medium-sized healthcare providers for its affordable solutions coupled with enhanced elasticity and scalability, the web and cloud-based EDI segment is expected to lead the market. In the prediction period, the mobile EDI segment is projected to record comparatively higher CAGRs. This is attributed to advancements in healthcare technology and growing acceptance by healthcare providers of mobile solutions.

Based on the End user segment, the market is bifurcated into Payer, Provider and Others. During the forecast period, the payers segment is expected to record comparatively higher market share. This is due to increasing demand from insurance plans, healthcare payer establishments to assess insurance claims prior to their payment settlement, fraudulent claims prevention and detection, and risk assessment of disease.

The geographical segmentation comprises the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Due to the higher adoption of Healthcare Information Technology (HCIT) and the presence of key market players such as McKesson Corporation, Optum, Inc., the SSI Group, LLC, and Experian Information Solutions, Inc., North America held a major market share in 2018. Due to the increasing demand for electronic data interchange services / solutions between pharmaceutical companies and medical device manufacturers in Europe, Europe is also predictable to hold a substantial market share during the forecast period in order to tackle increasing competitiveness, price pressure and lower profit margins.

Technologically innovative electronic data interchange services / solutions like web-based EDI have advanced to address confidentiality issues, authentication issues, and data integrity issues. Developments in the American National Standards Institute (ANSI) X12 EDI formatting standard have made Business-to-Business (B2B) transactions useful for electronic data interchange. The emergence in electronic data interchange of Extensible Markup Language (XML) and web-based standards is slowing the growth of this industry. Electronic data interchange services / solutions such as web and cloud-based EDI, EDI Value Added Network (VAN), direct (point-to-point) EDI, mobile EDI, Applicability Statement Version 2 (AS2), File Transfer Protocol on Virtual Private Network (FTP / VPN), Secure File Transfer Protocol (SFTP) or File Transfer Protocol Secure (FTPS) are supplied using various methods or delivery modes. In addition, a growing number of end-users are expected to drive demand over the market period for electronic data interchange services / solutions.

Key players within global Healthcare Electronic Data Interchange (EDI) market include Allscripts Healthcare Solutions Inc., Cognizant, Experian Information Solutions, Inc., GE Healthcare, McKesson Corporation, Optum, Inc., Schreiner Group, Siemens Healthineers, The SSI Group, LLC and ZirMed Inc. amongst others.

The report segments global Healthcare Electronic Data Interchange (EDI) market as follows:

Global Healthcare Electronic Data Interchange (EDI) Market: Component Segment Analysis

  
Solutions
  
Services

Global Healthcare Electronic Data Interchange (EDI) Market: Delivery Mode Segment Analysis

  
EDI Value Added Network (VAN)
  
Direct (Point-to-Point) EDI
  
Mobile EDI
  
Web and Cloud-based EDI

Global Healthcare Electronic Data Interchange (EDI) Market: End user Segment Analysis

  
Payer
  
Provider
  
Others

 Global Healthcare Electronic Data Interchange (EDI) Market: Regional Segment Analysis

  
North America
  
U.S.
  
Europe
  
UK
  
France
  
Germany
  
Asia Pacific
  
China
  
Japan
  
India
  
Latin America
  
Brazil
  
Middle East and Africa