Healthcare Electronic Data Interchange (EDI) Market

Healthcare Electronic Data Interchange (EDI) Market – Industry Analysis and Forecast (2017-2024)_ by Component (Services, Solutions), by Delivery Mode (EDI Van, Mobile EDI, and Others), by Transaction Type (Healthcare Supply Chain, Claims Management), by End-User, and by Geography (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)

Healthcare Electronic Data Interchange (EDI) Market valued USD 2.19 Billion in 2017 and expected to reach USD 4.46 Billion by 2024, at a CAGR of 9.3%.

Key factors expected to drive the growth of market include rising need to curb healthcare costs coupled with technological advancements in Healthcare Electronic Data Interchange (EDI) Market , development of regulations for transaction processes, rising government support for HCIT implementation, and rising government support for healthcare IT. However high implementation cost of EDI software and data security which poses a major concern for patients & EDI users is restraining healthcare electronic data interchange Healthcare Electronic Data Interchange (EDI) Market growth.

Web and cloud-based EDI segment to dominate the market during 2017 and 2024

By Delivery Mode, Healthcare Electronic Data Interchange (EDI) Market is segmented into EDI Van, Mobile EDI, Web & Cloud-Based EDI, and Point-To-Point EDI. From this segment, market for web and cloud-based Healthcare Electronic Data Interchange (EDI) Market segment is anticipated to dominate the market during 2017 and 2024. Growth of this segment can be attributed to rising need of small and medium-sized healthcare providers for its affordable solutions coupled with improved flexibility and scalability.

Healthcare Payers segment to witness highest CAGR between 2017 and 2024

On the basis of End-User, Healthcare Electronic Data Interchange (EDI) Market is segmented into Healthcare Payers, Medical Device & Pharmaceutical Industries, Healthcare Providers, and Pharmacies. From this segment, healthcare payers segment is expected to grow at the highest CAGR during the forecast period. Growth of this segment can be attributed to growing demand from healthcare payer organizations and insurance plans for the evaluation of insurance claims before their payment settlement

Healthcare electronic data interchange market for services segment to account for the larger share of the market

Components segment for Healthcare Electronic Data Interchange (EDI) Market is divided into Services and Solutions. Services segment is anticipated to account for the larger share of the healthcare electronic data interchange market owing to increasing demand for scalability and integrity of EDI solutions and growing rate of outsourcing electronic data interchange services by Healthcare Electronic Data Interchange (EDI) Market organizations.

North America held the largest share of over 39% of the healthcare electronic data interchange market in 2016

Geographically healthcare electronic data interchange market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among geographical regions, North America held the largest share of over 39% of the healthcare electronic data interchange market. Growth of this region can be attributed to growing adoption of Healthcare Information Technology (HCIT) and presence of major market players such as McKesson Corporation, Cognizant, Optum, Inc.; The SSI Group, and Experian Information Solutions, Inc.

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