Healthcare fraud detection market highly competitive with the presence of various players. Some of the major players operating in 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).
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The healthcare fraud detection market is expected to reach USD 2,242.7 Million by 2022 from USD 504.4 Million in 2016, at a CAGR of 28.9%. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. The study estimates the healthcare fraud detection market size for 2017 and projects its demand till 2022.
Global Healthcare Fraud Detection Market poised to grow over next decade. Some of prominent trends that market is witnessing include analytics on rise in healthcare bpo, implementation of fraud risk & identity management programs, emergence of social media & its impact on healthcare industry & application machine learning for fraud detection is evolving.
Target Audience for this Report:
- Healthcare IT firms
- Healthcare analytics vendors
- Healthcare payers
- Venture capitalists
- Research and consulting firms
- Healthcare fraud detection service providers
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North America is expected to account for largest share of healthcare fraud detection market followed by Europe. Factors like increase in number of people seeking health insurance, increasing cases of healthcare fraud, favorable government initiatives to combat healthcare fraud, rising pressure to reduce healthcare costs, technological advancements, & greater product & service availability in this region are expected to drive market growth in North America.
2 Market Player Ranking, 2016
3 Competitive Scenario
4 Agreements, Partnerships, Collaborations, and Contracts
7 Product Launches
The healthcare fraud detection market is segmented into descriptive, predictive, and prescriptive analytics. The prescriptive analytics segment is expected grow at a highest CAGR during the forecast period. The high growth of this segment is attributed to the ability of prescriptive analytics to ensure the synergistic integration of predictions and prescriptions.
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The healthcare fraud detection market has been segmented, on the basis of component, into services and software. The services segment is expected to register highest growth rate over the forecast period. With the increasing need for fraud analytics services and the introduction of technologically advanced healthcare fraud detection software.
Key objectives of this study are as follows:
1 To define, describe, and forecast healthcare fraud detection market by type, component, delivery model, end user, and region.
2 To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges).
3 To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
4 To analyze opportunities in market for stakeholders and provide details of the competitive landscape for market leaders.
5 To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW).
6 To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies.
7 To track and analyze competitive developments in the healthcare fraud detection market, such as joint ventures, mergers and acquisitions, product launches and expansions.