According to the new market research report " 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 & Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is projected to reach USD 4.4 billion by 2025 from USD 3.0 billion in 2020, at a CAGR of 7.8% during the forecast period.
Browse in-depth TOC on "Healthcare
EDI Market"
129 – Tables
44 – Figures
195 – Pages
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The growth of this market is majorly attributed to
the development of regulations for transaction processes, the rising need to
curtail healthcare costs and government support for HCIT implementation. Also,
the need for the efficient management of electronic claims and reimbursement
transactions (for healthcare providers) is expected to drive demand growth in
the healthcare EDI market during the forecast period.
By delivery mode, the mobile EDI segment is expected
to grow at the highest growth rate during the forecast period
Among the delivery mode segment, the mobile EDI
segment is expected to grow at the highest CAGR during the forecast period. The
factors attributing to the high growth of this segment include the
technological upgrades in the healthcare industry and growing acceptance of
mobile solutions among healthcare providers.
By component, the services segment is expected to
record the highest CAGR during the forecast period
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 transaction type, the claims management segment
is expected to account for the largest share of the healthcare EDI market
On the basis of the transaction type, the EDI market
is segmented into claims management and healthcare supply chain. The claims
management segment is expected to account for the largest share of the market
during the forecast period. The large share of this segment can be attributed
to the rising adoption of EDI services by healthcare providers and payers and
the need to meet regulatory requirements.
By end user, the healthcare payers segment to record
the highest CAGR 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.
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North
America dominates the Healthcare EDI market during the
forecast period.
North
America is expected to hold the largest market size in
the global market during the forecast period, followed by the European region.
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 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).
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