The growth of the healthcare EDI market is mainly driven by the rising need to curtail healthcare costs, mandatory regulations for transaction processes, and government support for HCIT.
What the Market Looks Like?
Predicted to grow at a CAGR of 8.1% during the forecast period, the global Healthcare EDI market is estimated to reach USD 3.77 Billion by 2022. In 2016, North America accounted for the largest share of this market.
On the basis of component, the services segment accounted for the largest share of the global healthcare EDI market. This is primarily attributed to the increasing complexity and scale of EDI solutions, as they require extensive training programs, and rise in outsourcing activities. The services segment is also expected to grow at the highest CAGR during the forecast period.
Based on delivery mode, the web & cloud-based EDI segment accounted for the largest share of this market. The low cost of web and cloud-based EDI, non-requirement of software installations, compatibility with mobile devices, and high scalability are the major factors driving the use of web & cloud-based EDI, which has boosted the demand for effective EDI implementation.
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What Drives the Market?
The growth of the global market for Healthcare EDI is primarily influenced by the following factors:
Geographical growth scenario of Healthcare EDI Market
Geographically, the market is divided into North America, Europe, Asia Pacific, and Rest of World. In 2016, North America accounted for the largest share of this market. The large share of the North American region is primarily attributed to the increasing adoption of healthcare EDI in claims & supply chain management, need for healthcare cost reduction, growing number of HCIT companies, and favorable regulations.
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Leading market players and strategies adopted
The prominent players in the Healthcare EDI market include McKesson Corporation (U.S.), GE Healthcare (U.S.), Allscripts Healthcare Solutions Inc. (U.S.), Cognizant Technology Corporation (U.S.), SSI Group, LLC (U.S.), Cerner Corporation (U.S.), Comarch SA (Poland), Axway Software SA (France), Optum Inc. (U.S.), Dell Technologies Inc. (U.S.), Quality Systems Inc. (U.S.), and Synnex Corporation (U.S.).