Global healthcare electronic data interchange (EDI) market is expected to grow in the upcoming years. The factors responsible for the growth of the healthcare EDI market are need for managing the patients records, data related to medication, and records about emergency services & casualty. Technology which is able to meet these tasks of managing enormous data is called as electronic data interchange (EDI). EDI is used in many of the divisions of the healthcare sector.
Healthcare EDI plays an important role in data management of various medicals fields, including treatment, data management of insurance services, regulatory affairs, and clinical trials. Healthcare EDI further provides efficiency and security in processing of data .
COVID-19 scenario analysis
With the outbreak of COVID-19 globally and the stipulated lockout, there is an ongoing downturn in the healthcare market. Aside from communities, COVID-19 was equally disastrous for major world economies, especially the healthcare sector. Prominent stakeholders are continuing to adapt their strategy to the rapidly changing situation. COVID-19 is projected to have significant long-term impacts on the healthcare industry. Countries and major players would have to undertake critical healthcare changes until the crisis takes a back seat.
Technological progress, cost containment, and increased access will in the near future be an integral part of healthcare reforms. Digital health and telehealth have taken a front seat in the ongoing outbreak. COVID-19 re-emphasized the importance of remote diagnosis, care and consultation. Over the past few years, regulatory and behavioral barriers have slowed market growth. The social distancing measures also mandated online consultation of patients with moderate. Considering these factors, COVID-19 is expected to have significant impact on Healthcare EDI Market.
Top impacting factors
- The factors like lowering the cost of treatment by the use of healthcare EDI and the management of data with more accuracy, security have boosted the growth of the healthcare EDI market.
- Increasing lifestyle diseases and its databases, innovation & advancements made in the EDI systems, and increase in number of end users such as hospitals and healthcare service providers are boosting the growth of the market.
- Factors restraining the growth of EDI market are the high implementation costs and expensiveness of EDI systems. Also, lowering of the market caused due to limitations faced in rural areas due to technological advancements and restraining the growth of the market. Also, security issues and loss of data can affect the market growth.
New product launch/news
- In March 2017, McKesson Corporation and Change Healthcare Inc. made an agreement to launch a new healthcare information technology company.
Key benefits of the report
- This study presents the analytical depiction of the global healthcare EDI market along with the current trends and future estimations to determine the investments.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the healthcare EDI market share.
- The current market is quantitatively analyzed to highlight the Healthcare EDI Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed healthcare EDI market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the healthcare EDI market report:
- Which are the leading players active in healthcare EDI market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
- Which segments and regions will drive the market growth & why?
Healthcare EDI Market Report Highlights
By Mode of Delivery
By Transaction Type
By End Uder
Key Market Players
Cisco, Cerner Corporation (U.S.), FireEye, Dell Technologies Inc. (U.S.), IBM, GE Healthcare (U.S.), Cognizant Technology Corporation (U.S.), McKesson Corporation, Allscripts Healthcare Solutions. Inc, Symantec