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What is the Projected Market Size and Growth Rates for the Global Healthcare EDI Market?
Regulatory compliance, administrative efficiency, and cost reduction have caused a surge in the healthcare EDI market size, from $5.1 billion in 2024 to an anticipated $5.63 billion in 2025 at a compound annual growth rate (CAGR) of 10.4%. Looking forward, the healthcare EDI market size is forecasted to further grow to $8.95 billion by 2029 at a higher CAGR of 12.3%, attributable to telehealth expansion, data standardization, data privacy and security, and inter-organizational data sharing.
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What are the Major Drivers for the Healthcare EDI Market?
Government support is a key driver of growth for the healthcare EDI market. The software helps facilitate data transmission, including details about benefits, claims status, insurance data, payment data, and eligibility forms among healthcare. The National Health Service (NHS) in the UK, for instance, has dedicated significant investment of about USD 164.71 million to enhance the digital adoption and digitization within the healthcare sector. This is expected to play a pivotal role in transforming health and social care through technological capabilities, which in turn, boosts the demand for the healthcare EDI market.
What are the Market Segments for the Healthcare EDI Market?
• By Component: Software, Hardware, Services
• By Transaction: Claim Management, Healthcare Supply Chain, Other Transactions
• By Mode of Delivery: Mobile, VAN, Web And Cloud-based, Point-to-point
• By End User: Healthcare Provider, Payer, Pharmacies, Other End Users
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Which Major Companies are Operating in the Healthcare EDI Market?
Major companies in the market include McKesson Corporation, Optum Inc., Allscripts, GE Healthcare, Cognizant Technology Solutions India Pvt Ltd., Cerner Corporation, Dell Technologies Inc., The SSI Group, Tallan Inc., Quadax Inc., AthenaHealth, MuleSoft LLC, Boomi Inc., Change Healthcare Inc., Conduent Inc., Epic Systems Corporation, Siemens Healthineers, NextGen Healthcare, Infor Inc., Edifecs Inc., Waystar Inc., Experian Information Solutions Inc., Availity LLC, eClinicalWorks, National Education Association, Ability Network, PracticeSuite Inc., Quest Diagnostics, Jopari Solutions Inc., Alpha II LLC, TransUnion Healthcare, Bizmatics Inc., Healthpac Computer Systems.
What are the Emerging Trends in the Healthcare EDI Market?
Technological advancements such as the launch of NextGen Health Data Hub Insights by NextGen Healthcare Inc. are key trends in the health EDI market. This data warehouse and bespoke analytics solution aim to offer easier access to data and facilitate report production for health information exchanges and healthcare providers, providing a complete picture of patient and community health at the point of treatment.
Which Region Will Witness the Fastest Growth in the Healthcare EDI Market?
North America dominated the healthcare EDI market in 2024, with Asia-Pacific expected to be the fastest-growing region in the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, South America, Middle East and Africa.
What Does The Healthcare EDI Market Report Offer?
Healthcare electronic data interchange (EDI) is the software for transacting data among various healthcare providers and payers via computer systems. The healthcare EDI can manage full patient medical history, crucial medication data, and emergency services record, all of which are considered key components in the healthcare sector. The Healthcare EDI Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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