Global Healthcare Electronic Data Interchange Market Size, Share, Growth Analysis, By Component(Services, Solutions), By End-Use(Healthcare Payers, Healthcare Providers), By Delivery Mode(Web, Cloud-based EDI) - Industry Forecast 2022-2028

Global Healthcare Electronic Data Interchange market was valued at USD 4.1 billion in 2021 and it is expected to reach a value of USD 7.74 billion by 2028, at a CAGR of 9.5% over the forecast period (2022-2028).

The healthcare electronic data interchange (EDI) market refers to the electronic exchange of healthcare-related information between healthcare providers, payers, and other stakeholders. EDI helps to streamline administrative processes, improve communication between stakeholders, and reduce costs in the healthcare industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Healthcare Electronic Data Interchange Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

Global healthcare electronic data interchange market is segmented on the basis of component, end-use, delivery mode, and region. By component, the market is segmented into services and solutions. By end-use, the market is categorized into healthcare payers, healthcare providers, pharmaceutical industry, and others. By delivery mode, the market is classified into web and cloud-based EDI, EDI value added network, direct EDI, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.

Driver

The need to reduce costs in the healthcare industry is a major driver of the healthcare EDI market, as EDI helps to automate administrative processes and reduce manual labor costs. Government initiatives to promote the adoption of EDI in the healthcare industry, such as the implementation of electronic health records (EHRs), are driving the growth of the healthcare EDI market. The increasing demand for healthcare services is driving the need for more efficient and streamlined administrative processes, which is driving the adoption of healthcare EDI.

Restraint

The lack of interoperability between different EDI systems and healthcare IT systems can limit the effectiveness of healthcare EDI, as it can lead to data silos and inefficiencies. Resistance to change among healthcare providers and other stakeholders can limit the adoption of healthcare EDI, as it requires significant changes in administrative processes and workflows.

Market Trends

The growing use of mobile healthcare apps is driving the adoption of healthcare EDI, as it enables patients to access and manage their healthcare information through their mobile devices. The healthcare industry is increasingly focused on patient-centered care, which is driving the adoption of healthcare EDI to improve communication and coordination between healthcare providers and patients. The use of blockchain technology for healthcare EDI is gaining popularity, as it enables secure and transparent exchange of healthcare data between stakeholders. The growing adoption of cloud-based healthcare EDI solutions is driving the growth of the healthcare EDI market, as it enables more efficient and cost-effective management of healthcare data.