Healthcare EDI Market To Grow at a CAGR of 8% by 2023 According To New Research

The global medical EDI market is expected to grow at a CAGR of 8% By 2023, Growth in this market is heavily dependent on the development of regulations on transaction processes, the need to reduce medical costs, and government support for the implementation of HCIT.
This report analyzes global healthcare EDI markets by component, delivery mode, transaction type, end user and region. By 2017, the service sector took the largest share of EDI services outsourcing in health sector and the demand for scalability of EDI solutions. Depending on the delivery mode, the global healthcare EDI market is categorized as web and cloud-based EDI, point to point EDI, EDI VAN and mobile EDI. In 2016, the web and cloud-based EDI segments accounted for the largest portion of the market. This is largely due to the benefits of low-cost solutions, increased flexibility and scalability for small and medium-sized healthcare providers.

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Geographically, the global healthcare EDI market is divided into North America, Europe, Asia Pacific and other regions. North America accounted for the largest portion of this market in 2017, primarily due to billing and supply chain management, increased number of HCIT companies and increased adoption of healthcare EDI in favorable terms. The Asia Pacific region is expected to have the highest CAGR due to the expected number of patients, increased need to manage large patient data, reduced healthcare costs, and implementation of the HCIT program in the region.

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Data security is an important concern for patients and EDI users, and the high implementation costs of EDI software are some of the factors that keep this market from growing during the forecast period.
McKesson Corporation has dominated the global healthcare EDI marketplace in 2017. The company has comprehensive EDI solutions and services and has significant worldwide presence following the US, Canada, Germany, UK and Ireland. The company offers a diverse portfolio of EDI solutions primarily through its subsidiary Change Healthcare (US), which has a 70% stake. The company operates globally through channel partners and distribution networks. The company focuses on strengthening its market position through acquisitions and collaboration.