Healthcare Electronic Data Interchange Market to Surpass 8.44 Billion by 2030 Drives Due to the Rising Adoption of Advanced Healthcare Technology
SkyQuest projects that the healthcare electronic data interchange market will attain a USD 8.44 billion value by 2030, with a CAGR of 9.6% over the forecast period (2023-2030). The global healthcare electronic data interchange market is poised for significant growth in the coming years due to the increasing adoption of advanced healthcare technology. Key market players are actively investing in the enhancement and development of EDI solutions to cater to the evolving needs of the healthcare industry.
Westford, USA, July 06, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the global healthcare electronic data interchange market for services and solutions is expected to experience significant growth in the coming years to the increasing prevalence of various delivery modes. This includes web and cloud-based EDI, mobile EDI, and adopting Applicability Statement version 2 (AS2). These advancements in delivery modes are proving to be highly beneficial for businesses worldwide.
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Browse in-depth TOC on the “Healthcare Electronic Data Interchange Market”
- Pages – 250
- Tables – 92
- Figures –76
The global healthcare electronic data interchange market is experiencing robust growth during the forecast period, driven by several key factors. The expanding patient base worldwide is increasing the demand for efficient and streamlined healthcare data exchange systems. EDI solutions provide a secure and standardized platform for exchanging critical patient information between healthcare providers, payers, and other stakeholders, thereby enhancing the overall quality of healthcare services.
Prominent Players in Healthcare Electronic Data Interchange Market
- Allscripts Healthcare Solutions Inc.
- Athenahealth Inc.
- Cerner Corporation
- Change Healthcare
- Conduent Inc.
- Dell Technologies Inc.
- Emdeon Inc.
- GE Healthcare
- IBM Corporation
- McKesson Corporation
- Optum Inc.
- Philips Healthcare
- Siemens Healthcare GmbH
- Surescripts
- Synnex Corporation
- Wipro Limited
- Xerox Corporation
- Zirmed Inc.
- Experian Health
- NextGen Healthcare Inc.
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Services Segment is expected to Grow the Market Due to the Increasing Rate of Outsourcing Electronic Data Services
The services segment emerged as the dominant player in the global healthcare electronic data interchange market, holding the largest market share. This trend is expected to continue throughout the forecast period. One of the primary drivers behind this market dominance is numerous healthcare organizations’ continuously increasing rate of outsourcing electronic data services.
The markets in North America emerged as the dominant region in the healthcare electronic data interchange market, and it is expected to maintain its position throughout the forecast period. This can be attributed to several factors, including the region’s higher adoption of advanced healthcare information technology.
Solutions Segment is Expected to Dominate the Market Due to the Increasing Prevalence of E-Invoicing
The solutions segment of the global healthcare electronic data interchange market is expected to exhibit the fastest growth rate. This can be attributed to the increasing prevalence of e-invoicing, EDIFACT manifests, and other EDI-related solutions. These solutions offer various features and benefits, driving their adoption across industries. For instance, implementing EDI solutions helps lower administrative costs by automating manual processes and reducing paper-based transactions.
Regional markets in the Asia Pacific are experiencing a CAGR in the forecast period for the healthcare electronic data interchange market. This growth can be attributed to several factors, including the development of government policy reforms and regional economic advancements.
A comprehensive analysis of the major players in the healthcare electronic data interchange market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Healthcare Electronic Data Interchange Market
- McKesson Corporation recently agreed to acquire Rx Savings Solutions, specializing in prescription price transparency and benefits insights. This strategic acquisition allows McKesson to enhance its leadership position in providing access, adherence solutions, and affordability in the healthcare industry. By leveraging Rx Savings Solutions’ differentiated platform, McKesson can further empower patients and healthcare providers with valuable information regarding prescription drug pricing, enabling them to make more informed decisions.
- Nextgen Healthcare, a prominent provider of cloud-based and innovative healthcare solutions, recently announced an expansion of its existing relationship with InstaMed, a subsidiary of J.P. Morgan. This collaboration aims to enhance payment processing capabilities within NextGen Healthcare’s offerings. With the introduction of NextGen Pay Powered by InstaMed, healthcare providers can streamline their payment processes and improve the overall patient experience.
Key Questions Answered in Healthcare Electronic Data Interchange Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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