Global healthcare EDI market to reach $7.11b by 2029

Thanks to an increase in claims submissions, the rising adoption of API integrations, and regulatory mandates.

The global healthcare Electronic Data Interchange (EDI) market is projected to rise from $4.47b to $7.11b by 2029 at a compound annual growth rate of 9.7%, said Markets and Markets.

The sector’s expansion is attributed to an increase in claims submissions, the rising adoption of API integrations, and regulatory mandates.

The market is benefiting from the adoption of ‘RESTful APIs’ and ‘File Transfer Protocols’ along with advancements in automated error detection. Additionally, the transition to value-based care models, the use of cloud storage, and AI-driven analytics are further driving demand.

“The cloud-based EDI solutions are gaining popularity due to their cost-effectiveness, flexibility, scalability, and improved security over traditional on-premises EDI solutions,” the report said.

Moreover, factors such as real-time data exchange, reduced IT complexities, seamless integration, and rapid deployment are contributing to the growth of cloud-based EDI solutions.