Global Healthcare EDI Market Outlook 2030

In 2021, the global healthcare electronic data interchange (EDI) market is likely to be worth at ~USD 3 billion and is expected to grow at a compound annual growth rate of ~10% during the forecast period 2022-2030. The increasing need to control the cost of healthcare, coupled with the technological advancement of EDI, is expected to promote market growth. In addition, the increase in the number of end users, coupled with the increasing popularity of EDI, is expected to support the growth of the medical electronic data exchange market during the forecast period. Electronic data exchange can help reduce the cost of healthcare, improve the quality of healthcare services and their supporting processes, and make information accurate, fast, reliable, safe and detailed. When data needs to be distributed, retrieved, integrated, and searched, using paper forms can be cumbersome, incompetent and costly. EDI helps minimize these time-consuming processes and simplify the claims management process. Technologically innovative EDI services/solutions, such as web-based EDI, have been able to solve problems related to confidentiality, authentication and data integrity. The development of the American National Standards Institute (ANSI) X12 EDI format standard makes electronic data interchange very useful for business-to-business (B2B) transactions.

The emergence of Extensible Markup Language (XML) and Web-based standards in electronic data interchange is setting the pace for the development of the industry. Multiple delivery methods or modes are used to provide electronic data exchange services/solutions, such as network and cloud-based EDI, EDI value-added network (VAN), direct EDI (point-to-point), mobile EDI, Applicability Statement Version 2 (AS2), File transfer protocol (FTP / VPN), secure file transfer protocol (SFTP) or secure file transfer protocol (FTPS) on the virtual private network. In addition, it is expected that more and more end users will drive the demand for electronic data interchange services/solutions during the market. End users include payers, suppliers, pharmaceutical and medical device industries, etc. The number of hospitals in the United Kingdom, France, Germany, the Benelux and Denmark has increased, and they have adopted cost-reducing strategies through the use of electronic data interchange and greater contact with their providers or suppliers. This is expected to support the growth of this space during the forecast period. The pharmaceutical industry and medical device manufacturers are also adopting electronic data interchange services or solutions due to increased competitiveness, price pressures and increased profit margins. Lower profits are expected to contribute to this vertical growth.

COMPONENT INFOMATION:

The components discussed in this study include services and solutions. Due to the increasing rate of outsourcing of EDI services by healthcare organizations and the increasing demand for the scalability and integrity of EDI solutions, it is expected that the service sector will dominate the market. Due to the increasing demand for electronic data exchange solutions such as electronic invoices and EDIFACT manifests, the solution part is expected to achieve favorable growth during the forecast period because it reduces management costs, accelerates information processing, and ensures data accuracy , Eliminate certain business transactions, simplify business procedures and strengthen relationships with customers or suppliers.

DELIVERY METHOD INFORMATION:

The delivery methods discussed in this study include EDI VAN, direct EDI, and mobile EDI. As small and medium-sized healthcare providers continue to demand more affordable solutions as well as greater flexibility and scalability, network-based and cloud-based EDI segments are expected to lead the market. Forecast period. This is due to technological advancements in the healthcare industry and the increasing acceptance of mobile solutions by healthcare providers.

END - USE INFRMATION:

The end-use parts are payers, suppliers, pharmaceutical and medical device industries, etc. The payer part is expected to record a relatively high market share during the forecast period. This is due to the increasing demands of insurance plans and medical payment institutions to assess insurance claims, prevent and detect fraudulent claims, and assess disease risks before settlement of payments. The highest compound annual growth rate during the forecast period. This is due to doctors and clinicians, hospitals, clinics, and medical evaluation centers increasingly adopting EDI for operational intelligence, performance management, and financial management.

REGIONAL INFORMATION:

Due to the widespread adoption of health information technology (HCIT) and the existence of major market players such as McKesson Corporation, Cognizant, Optum, Inc., North America maintained a market share of more than 39.0% in 2016; SSI Group Co., Ltd.; ZirMed; and Experian Information Solutions, Inc. Due to the increasing demand for electronic data exchange services/solutions between European pharmaceutical companies and medical device manufacturers to cope with increasing competitiveness, price pressures and lower profit margins. Policy reforms, economic development and the growing IT industry are expected to drive the development of the Asia-Pacific market. In addition, increasing the number of patients, the need to manage large amounts of patient data, and the implementation of HCIT programs in India, Japan, and Australia are expected to contribute to the development of this vertical field.

INFORMATION ON THE MARKET DHARE OF ELECTRONIC HEALTH DATA INTERCHANGE :

Some of the major players in this field are GE Healthcare; Maxson; Competent; Allscripts Healthcare Solutions; Siemens Healthineers; Optum, Inc.; Schleiner Group; SSI Group Limited Liability Company; ZirMed Company; and Experian Information Solutions, Inc. These participants focus on growth strategies such as new product launches, mergers and acquisitions, and collaboration. For example, in December 2016, Cognizant acquired Adaptra, a Sydney-based consulting, business transformation and IT service provider, to strengthen the companys digital business, operations, and system capabilities to develop market segments focused on technology and data.

SEGMENTS COVERED BY THE REPORT:

This report forecasts revenue growth and analyzes the latest trends in each sub-segment from 2022-2030. For the purpose of this research, Kenneth Research has subdivided the data based on product, end use, and regional exchange market: Outlook component (revenue, million dollars, 2022-2030) Service solution Outlook delivery model ( Revenue, USD million, 2014-2025) Network value-added network and cloud-based EDI (VAN) Direct (Point-to-Point) EDIMobile EDIEnd-Use Outlook (Revenue, USD million, 2022-2030) Healthcare payer medical Healthcare Providers Medical and Pharmaceutical Equipment Industry Others.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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