LONDON, June 21, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the healthcare EDI market, increasing government support for healthcare is expected to propel the growth of the healthcare EDI market forward. Healthcare EDI is used to share information between the departments and branches in super-specialty hospitals. Healthcare EDI software helps to transmit details including coordination of benefits, claims status and information, insurance data, payment data, and eligibility forms among healthcare organizations. Rising government support for the healthcare industry helps the healthcare sector develop new equipment and provide better services for the people. It also helps to increase technology in government hospitals.
For instance, according to the Indian Economic Survey, in 2021–22, India's public healthcare spending reached 2.1%, up from 1.8% in 2020–21. Furthermore, the Union budget for 2022 allocated 11.28 billion for the growth of health care. Therefore, the increasing government support for healthcare drives the demand for the healthcare EDI market.
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The global healthcare EDI market share is expected to grow from $3.64 billion in 2021 to $4.03 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The global healthcare electronic data interchange market size is expected to grow to $5.70 billion in 2026 at a CAGR of 9.1%.
Technological advancements have emerged as the key trend gaining popularity in the healthcare EDI market. Major companies operating in the healthcare EDI market are focused on new technological innovations to sustain their position in the market. For instance, in 2020, Waystar, a US-based company that develops a technology platform that simplifies and unifies the healthcare payment cycle, launched its new analytics software based on revenue cycle technology. It facilitates access to vital data insights and aids medical organizations during pandemic situations. Waystar fast-tracked the launch of this new software, which offers the intelligence healthcare leaders require to make strategic, reliable, and correct decisions in this environment.
Major players in the healthcare EDI market are McKesson Corporation, Optum, Allscripts, GE Healthcare, Cognizant, Cerner, Dell Technologies Inc., The SSI Group, Tallan Inc., Quadax, AthenaHealth, Schreiner Group, MuleSoft LLC, and Boomi.
The global healthcare EDI market is segmented by component into software, hardware, services; by transaction into claim management, healthcare supply chain, others; by mode of delivery into mobile, VAN, web and cloud-based, point-to-point; by end-user into healthcare provider, payer, pharmacies, others.
As per the healthcare EDI market growth analysis, North America was the largest region in the market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global healthcare EDI system market during the forecast period. The regions covered in the global healthcare EDI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Healthcare EDI Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide healthcare EDI market overviews, healthcare EDI market analyze and forecast market size and growth for the whole market, healthcare EDI market segments and geographies, healthcare EDI market trends, healthcare EDI market drivers, healthcare EDI market restraints, healthcare EDI market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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