Healthcare Fraud Detection Market Size by Delivery Mode, Types, Component, Application, End User, Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2030
Overview
Healthcare Fraud Detection Market size is expected to reach USD 9.65 Bn. by year 2030 at a CAGR of 25.5% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Healthcare Fraud Detection Market is segmented by type, delivery mode, component, application, end user, and geography. Software segment is expected to register the highest growth in the forecast period. An increasing need for fraud analytics services and the introduction of technologically advanced healthcare fraud detection software will fuel the software segment growth.
Delivery mode segment is classified as the cloud-based solution and on-premises solution. On-Premises sub-segment is estimated to hold the largest market share in the forecast period. On-Premises requires lack of upfront capital investments for hardware, also provides higher flexibility, and the pay-as-you-go pricing of this model will result in increasing share of on-Premises market. The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Growing pressure of fraud, waste, and abuse on healthcare spending is trending the overall Global Healthcare Fraud Detection market. Reluctance to adopt healthcare fraud analytics in developing countries may hamper market growth. North America is going to emerge as one of the higher growth regions in the forecast period followed by Europe and APAC. Increasing cases of healthcare fraud, favorable government initiatives to combat healthcare fraud will fuel the Healthcare Fraud Detection Market in the North America region.
Healthcare Fraud Detection Market, Research Methodology:
Bloomberg, Hoovers, and Factiva are some of the sites that are being referred to gain insights about Global Healthcare Fraud Detection Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Global Healthcare Fraud Detection Market globally.
Healthcare Fraud Detection Market, Key Highlights:
1. Global market analysis and forecast, in terms of value.
2. Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global market
3. Global market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
4. Global market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
5. Global market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
6. Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
7. Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Healthcare Fraud Detection Market are also profiled.
Healthcare Fraud Detection Market, Key Target Audience:
1. Venture Capitalists, Private Equity Firms, And Startup Companies
2. Healthcare IT firms
3. Business research and consulting firms
4. Healthcare fraud detection service providers
5. Healthcare payers
6. Healthcare analytics vendors
7. Government Bodies And Healthcare Associations/Institutions
Healthcare Fraud Detection Market Scope : Inquire before buying
| Global Healthcare Fraud Detection Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 1.96 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 25.5% | Market Size in 2030: | USD 9.65 Bn. |
| Segments Covered: | By Delivery Mode | Cloud-Based Solutions On-Premises Solutions |
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| By Types | Descriptive Analytics Predictive Analytics Prescriptive Analytics |
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| By Component | Software Services |
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| By Application | Insurance claims review Payment integrity Other applications |
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| By End User | Private insurance payers Public/government agencies Employers Third party service providers |
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Healthcare Fraud Detection Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Healthcare Fraud Detection Market, Key Players
1. Lexinexis (A Part of Relx Group)
2. Pondera Solutions
3. Northrop Grumman
4. DXC Technology
5. CGI Group
6. HCL Technologies
7. Conduent
8. Wipro
9. Scio Health Analytics
10. SAS Institute
11. Fair Isaac (Fico)
12. Mckesson
13. Verscend Technologies
14. Optum (A Part of Unitedhealth Group)
15. IBM
16. COTIVITI, INC.
17. SCIOInspire, Corp.
18. Codoxo
19. HMS
20. EXL Service Holdings
21. Change Healthcare
22. Canadian Global Information Technology Group
Frequently Asked Questions:
1. Which region has the largest share in Global market?
Ans: North America region holds the highest share in 2023.
2. What is the growth rate of Global market?
Ans: The Global market is growing at a CAGR of 25.5% during forecasting period 2024-2030.
3. What is scope of the Global market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global market?
Ans: The important key players in the Global market are – Lexinexis (A Part of Relx Group), Pondera Solutions, Northrop Grumman, DXC Technology, CGI Group, HCL Technologies, Conduent, Wipro, Scio Health Analytics, SAS Institute, Fair Isaac (Fico), Mckesson, Verscend Technologies, Optum (A Part of Unitedhealth Group), IBM, COTIVITI, INC., SCIOInspire, Corp., Codoxo, HMS, EXL Service Holdings, Change Healthcare, and Canadian Global Information Technology Group.
5. What is the study period of this market?
Ans: The Global market is studied from 2023 to 2030.