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Healthcare EDI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

This Healthcare EDI Market is segmented by Component (Software, Hardware, and Services), Transaction (Claim Management, Healthcare Supply Chain, and Other Transactions), Mode of Delivery (Web- and Cloud-based EDI, EDI VAN, Mobile EDI, and Other Modes of Delivery), End User (Healthcare Providers, Medical Devices and Pharmaceutical Industry, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).

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Market Snapshot

Healthcare EDI Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 8.2 %
Healthcare EDI Market Key Players

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Market Overview

Healthcare EDI Market has registered a CAGR of 8.2% over the forecast period 2021 - 2026. Healthcare electronic data interchange (EDI) can be defined as a structured method, to transmit healthcare data between computer and data management systems. Recent government initiatives supporting healthcare, resulting in efforts and concerns regarding adopting EDI systems, especially in the developed countries, as well as emerging countries, are the biggest drivers of the healthcare EDI market. Management, processing, and transfer of the healthcare data, such as patient credentials, medication and diagnostic data, and emergency service records, have previously been a resource-intensive and time-consuming task. However, following the digitalization, EDI has helped to manage this huge amount of data in a systematic, efficient, and accessible manner.

Moreover, other factors, such as the emergence of Big Data analytics, favorable policy implementation, and the initiatives and incentive programs launched by different organizations to promote healthcare IT, are driving the growth of the market.

Scope of the Report

Electronic data interchange (EDI) can be defined as a structured way to transmit data between computer systems, governed by agreed standards. EDI document has a standardized format, which ensures that data can be quickly interpreted on both sides. In healthcare, the majority of data management was done manually and ad-hoc, where protecting and securing healthcare information is a major concern. To speed up the healthcare data transfers and accessibility at the national and global levels, EDI is an important modality to invest into.

By Component
Software
Hardware
Services
By Transaction
Claim Management
Healthcare Supply Chain
Other Transactions
By Mode of Delivery
Web- and Cloud-based EDI
EDI VAN
Mobile EDI
Other Modes of Delivery
By End User
Healthcare Providers
Medical Devices and Pharmaceutical Industry
Other End Users
By Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Software Segment in by Component Expected to Register a Robust Growth in the Forecast Period

Software is a major component of the entire electronic data interchange process, which includes multiple things for the management of healthcare facilities, globally. An EDI software is often used to convert the available data in a form that is readable by the machines, as well as reading the data shared among trading partners. The payment facilities in healthcare are among the major stresses to healthcare administrations, and the EDI is highly useful through their software. Apart from that, the EDI software is very important in the management of medical claims and the standardization of data to ensure quick transfer.

Healthcare EDI Market Key Trends

United States to Dominate the Market

The EDI in healthcare is well-established across the United States. With UnitedHealthcare and other payers, this market is beneficial for providers and their billing services in multiple ways, such as fast information transfers, quick identification of submission errors, avoiding the claim processing delays, reducing the administrative expenses, lower account receivables, and exchange of information with multiple payers at one time.

Healthcare EDI Market Growth by Region

Competitive Landscape

The healthcare EDI market is fairly fragmented and highly competitive. Key players in the market include Allscripts Healthcare Solutions Inc., Cognizant, Emdeon Inc., GE Healthcare, McKesson Corporation, Optum Inc., Quadax Inc., Siemens Healthineers AG, SSI Group Inc., and Tallan Inc., among others.

Allscripts Healthcare Solutions Inc., Cognizant, Emdeon Inc., GE Healthcare, McKesson Corporation, Optum Inc., Quadax Inc., Siemens Healthineers AG, SSI Group Inc., Tallan Inc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Adoption of Big Data in Healthcare

      2. 4.2.2 Rising Need of Controlling the Healthcare Costs

      3. 4.2.3 Government Support to Increase the Information Technology in Healthcare Services

    3. 4.3 Market Restraints

      1. 4.3.1 Data Privacy and Security Concerns

      2. 4.3.2 High Cost of Implementation of EDI

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Software

      2. 5.1.2 Hardware

      3. 5.1.3 Services

    2. 5.2 By Transaction

      1. 5.2.1 Claim Management

      2. 5.2.2 Healthcare Supply Chain

      3. 5.2.3 Other Transactions

    3. 5.3 By Mode of Delivery

      1. 5.3.1 Web- and Cloud-based EDI

      2. 5.3.2 EDI VAN

      3. 5.3.3 Mobile EDI

      4. 5.3.4 Other Modes of Delivery

    4. 5.4 By End User

      1. 5.4.1 Healthcare Providers

      2. 5.4.2 Medical Devices and Pharmaceutical Industry

      3. 5.4.3 Other End Users

    5. 5.5 By Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia-Pacific

      4. 5.5.4 Middle-East and Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle-East and Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Allscripts Healthcare Solutions Inc.

      2. 6.1.2 Cognizant

      3. 6.1.3 Emdeon Inc.

      4. 6.1.4 GE Healthcare

      5. 6.1.5 McKesson Corporation

      6. 6.1.6 Optum Inc.

      7. 6.1.7 Quadax Inc.

      8. 6.1.8 Siemens Healthineers AG

      9. 6.1.9 SSI Group Inc.

      10. 6.1.10 Tallan Inc.

      2. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Healthcare EDI Market market is studied from 2018 - 2026.

The Healthcare EDI Market is growing at a CAGR of 8.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Cognizant, Quadax Inc., McKesson Corporation, Optum Inc., SSI Group Inc. are the major companies operating in Healthcare EDI Market.

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