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 – Global Forecast to 2025

2020-12-11
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Published : Dec-2020
No. of Pages : 195
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“The Healthcare EDI market is projected to grow at a CAGR of 7.8% during the forecast period (2020–2025).”

The global healthcare EDI 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. The key factors driving the growth of this market include the development of regulations for transaction processes, the rising need to curtail healthcare costs and government support for HCIT implementation. However, the high implementation cost and data security concerns are expected to restrict market growth to a certain extent. Hesitancy to switch from conventional methods may also challenge market growth in the coming years.

“The mobile EDI segment will grow at the highest rate during the forecast period.”

Based on delivery mode, the global Healthcare EDI market is segmented into web & cloud-based EDI, EDI VAN, point-to-point EDI, and mobile EDI. The factors attributing to the high growth of the mobile EDI segment include the technological upgrades in the healthcare industry and the growing acceptance of mobile solutions among healthcare providers.

“By transaction type, the claims management segment accounted for the largest share of the Healthcare EDI market in 2019.”

On the basis of the transaction type, the global healthcare EDI market is segmented into claims management and supply chain management in 2019. The rising adoption of EDI services by healthcare providers and payers and the need to meet regulatory requirements are driving the increased uptake of healthcare EDI solutions for claims management.

“By-products & services, the services segment accounted for the largest share of the healthcare EDI market in 2019.”

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 end-user, the healthcare payers segment will grow at the highest rate 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.

“The market in North America is projected to witness the highest growth rate during the forecast period (2020–2025).”

North America is projected to register the highest growth during the forecast period. This large share can be attributed to factors such as 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 healthcare EDI market.

A breakdown of the primary participants referred to for this report is provided below:

  • By Company Type (Supply-side): Tier 1: 33%, Tier 2: 45%, and Tier 3: 22%
  • By Designation: C-level: 11%, Director-level: 45%, and Managers: 44%
  • By Region: North America: 36%, Europe: 21%, Asia-Pacific: 29%, Latin America: 7% and Middle East & Africa: 7%

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).

Research Coverage:

The report analyzes the Healthcare EDI market and aims at estimating the market size and future growth potential of this market based on various segments such as product & services, transaction type, delivery mode, end user, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.

Reasons to Buy the Report

The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies.

This report provides insights into the following pointers:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the Healthcare EDI market. The report analyzes the market based on the product, type, application, end user, and region.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the Healthcare EDI market.
  • Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of Healthcare EDI solutions across regions.
  • Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the Healthcare EDI market.
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the Healthcare EDI market.
Filed in: Pharmaceutical, Pharmaceuticals and Healthcare
Publisher : marketsandmarkets
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