Healthcare Electronic Data Interchange (EDI) Market: Industry Outlook By Drivers, Restraints And 2016-2022

(AmericaNewsHour via Comtex)

In today’s world, with the coming up of better healthcare facilities and expansion of the healthcare market with the entry of numerous players, the consumers now have many options to choose the healthcare services based on their perception as well as reputation regarding the key strengths of the respective service providers. Now, due to the entry of players providing a large number of services under the same roof, there is a need for better exchange of data in terms of speed, security, and reliability as these help in reducing the costs and make them less time-consuming for the consumers too. This is solved by the growing electronic data interchange market which is being implemented by most of the healthcare services today.

Healthcare Electronic Data Interchange (EDI)

End-User/Technology
The end users are mainly the hospitals which need a more efficient manner of maintaining data for the patients as they are moving towards ensuring the customers hassle-free and less time-consuming services.
The major technologies used in this space are web-based EDI, extensible markup language (XML), direct(point-to-point ) EDI, cloud-based EDI, EDI over VAN(Value Added Network), Secure File Transfer Protocol and so on.


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Market Dynamics

Due to the expansion of healthcare infrastructure as well as the population, it is becoming cumbersome to use the conventional methods of maintaining hard copies of important files. Also, they face major issues while transferring and also have security risks associated with it. The service providers are moving towards EDI to ease the process of managing such large amount of data and hence, the scope for the further growth of this market is expected to show positive signs in the near future.

Market Segmentation
The market can be segmented on the basis of the functions performed by the respective tools, the technology that is used for performing these functions such as cloud-based business intelligence, traditional business intelligence and so on. It is also segmented on the basis of the end user as the technologies are designed mainly on the basis of the respective requirements.

Finally, the market is segmented on the basis of geography, the demographics of the respective regions, to determine the level of existing healthcare infrastructure and hence determine the avenues of growth for this market.

Regional/Geographic Analysis
Currently, North America and Europe regions are dominating this field because of the higher level of existing infrastructure as compared to the global average. However, due to increase in the spending power of people in the developing countries and rapid expansion of healthcare infrastructure, especially in the Asia Pacific region, there is a huge scope for the growth of this markets in many new markets.

Opportunities
The increasing prevalence of newer diseases leading to further expansion of the healthcare field and infrastructure is expected to create better opportunities for this market as the world move towards the target of a hassle-free and affordable healthcare system.

Key Players
Some prominent players in this market are Microsoft Corporation, IBM Corporation, Oracle Corporation, Accenture Corporation, Tableau Software, Siemens Healthcare and so on.

Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa


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