According to the report published by Allied Market Research, the global healthcare fraud detection market generated $1.1 billion in 2021, and is projected to reach $3.6 billion by 2031, growing at a CAGR of 12.6% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape.
The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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COVID-19 Scenario:
- The outbreak of COVID-19 had had negative impact on the growth of the global healthcare fraud detection market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns exponentially decreased the demand for healthcare fraud detection as adverse interruptions were experienced by healthcare payers and government agencies, which resulted in decreased expenditure and investment in innovative technologies.
- The pandemic enforced healthcare organizations across the globe to devote most of their funds to fighting COVID-19. Thus, the demand for healthcare fraud detection plummeted exponentially due to the impact of COVID-19. However, the market is expected to recoup soon.
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The report offers a detailed segmentation of the global healthcare fraud detection market based on type, component, application, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and highest revenue generation that is mentioned in the report.
Based on type, the descriptive analytics segment held the dominating market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.6% during the forecast period.
Based on end-user, the healthcare payer segment held the dominating market share in 2021, holding around half of the global market, and is expected to maintain its leadership status during the forecast period. The government agencies segment, on the other hand, is expected to cite the fastest CAGR of 14.3% during the forecast period.
Based on component, the software segment held the dominating market share in 2021, holding more than three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.1% during the forecast period.
Based on region, the market across North America held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 16.2% during the forecast period.
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The key players analyzed in the global healthcare fraud detection market report include CGI Group, Conduent, DXC Technology Company, EXLSERVICE Holdings Inc., Fair ISAAC Corporation, HCL Technologies, International Business Machines Corporation (IBM), LexisNexis, McKesson Corporation, Northrop Grumman, Optum, OSP Labs, SAS Institute Inc., Scioinspire CORP., UNITEDHEALTH Group, Verscend Technologies, and WIPRO Limited.
The report analyzes these key players in the global healthcare fraud detection market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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The global Healthcare Fraud Detection Market is expected to reach USD 2,242.7 Million by 2022 from USD 631.0 Million in 2017, at a CAGR of 28.9%.
The Research report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Healthcare Fraud Detection Market, along with revenue estimates & forecasts and market share analysis.The growth of the market is attributed to a large number of fraudulent activities in healthcare; increasing number of patients seeking health insurance; the prepayment review model; growing pressure of fraud, waste, and abuse on healthcare spending; and high returns on investment.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=221837663 Healthcare Fraud Detection Market segmentation: Based on Type Based on Component Based on Delivery Model Based on Application Based on End Users Based on RegionsThe Major Players Opearting in the Healthcare Fraud Detection Market:Key players in the Healthcare Fraud Detection Market include IBM (US), Optum (US), SAS (US), McKesson (US), SCIO (US), Verscend (US), Wipro (India), Conduent (US), HCL (India), CGI (Canada), DXC (US), Northrop Grumman (US), LexisNexis (US), and Pondera (US).IBM was the leading player in the global Healthcare Fraud Detection Market.
The company has a strong presence in North America, Europe, Asia, and Latin America.The company has a strong presence in the commercial and government healthcare payer markets.
Moreover, it has a strong sales and distribution network in more than 175 countries.
IBM invests heavily in research activities to continuously improve its product portfolio.The company focuses on inorganic strategies like acquisitions and partnerships.
For instance, in April 2016, IBM acquired Truven (US), a provider of cloud-based healthcare data, analytics, and insights.
