The global health care electronic data interchange (EDI) market size, valued at $2.7 billion in 2016, is expected to grow at a compounded annual growth rate of 9.4 percent over the next decade, reaching $5.9 billion by 2025, according to a report by Grand View Research Inc.

The accelerated growth of the EDI market is being fueled by the rising need to curb health care costs; technological advancements; the surge in number of end-users including payers, providers, pharmaceutical and medical device industries; and the increasing adoption of EDI, according to the report.

“The electronic data interchange helps in keeping health care costs at an affordable level, improving the quality of health care delivery and its supporting process, and making accurate, fast, reliable, secure and detailed information,” the report says. “The use of paper form can be cumbersome, incompetent and costlier when it needs to distribute, retrieve, consolidate, and look for data. The electronic data interchange helps in minimizing these kinds of time-consuming process and streamlines the claim management processes.”