Global Healthcare Electronic Data Interchange (EDI) Market Research Report Forecast 2027 (Business Opportunities - Advertising Service)

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Global Healthcare Electronic Data Interchange (EDI) Market Research Report Forecast 2027

Global Healthcare EDI Market is valued approximately at USD 2.78 billion in 2019 and is anticipated to grow with a growth rate of more than 7.8% over the forecast period 2020-2027. Healthcare EDI utilizes a technology called Electronic Data Interchange (EDI). Through EDI, organizations can transfer the data according to standardized formats. Healthcare EDI utilizes specific standards designed just for the healthcare industry. Increase in regulations such as Health Insurance Portability & Accountability Act (HIPAA) to provide data privacy and security will foster the growth of the market.

Principally this is a federal law created to protect sensitive patient health information from being disclosed without the patient’s consent or knowledge. Therefore, this factor may strengthen the adoption for Healthcare EDI market across the globe. Moreover, the rise in the number of end users’ spenders such as pharmaceutical & medical device industries, as EDI provides certain benefits to these sectors, including Swift and accurate recording and exchange of data such as batch numbers, expiration dates and other product-specific information, shortens delivery times and Excellent merchandise traceability are anticipated to boost the demand for the healthcare EDI Market.

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For Instance, according to Statista, Total pharmaceutical sales numbers in North America are projected to amount to some 628 billion U.S. dollars in 2023, making it the regional submarket with the highest global sales numbers by far. However, high establishment and implementation cost of EDI software may restrain the market growth over the forecast period of 2020-2027.

The regional analysis of the global healthcare EDI market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing rise in geriatric population and chronic diseases among them. Whereas North America is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, owing to the higher adoption of Healthcare Information Technology (HCIT)

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Last Update : Feb 13, 2021 8:39 AM
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