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Healthcare Fraud Detection Market by Type, Application, Component, Delivery, End user - Global Forecast to 2022

Healthcare Fraud Detection Market: Global Forecast until 2022

  • January 2018
  • 162 pages
  • ID: 5281904
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Global healthcare fraud detection market forecasted to grow at a CAGR (Compound annual growth rate) of 28.90 percent

The healthcare fraud detection market is forecasted to reach $2242.70M by 2022 from $631.00M in 2017, at a compound annual growth rate (CAGR) of 28.90 percent. Elements such as the big number of fraudulent activities in healthcare; growing number of patients seeking health insurance; the prepayment review model; increasing pressure of fraud, waste, and abuse on healthcare spending; and high returns on market investments are driving the rise of the healthcare fraud detection market. On the other hand, industry growth is likely to be negatively affected by the dearth of skilled personnel and reluctance to take healthcare fraud analytics in emerging countries, are anticipated to limit the rise of this market to a certain extent

The prescriptive analytics segment is anticipated to rise at the maximal compound annual growth rate (CAGR) during the estimate period

By category, the healthcare fraud detection market is divided into descriptive, predictive, and prescriptive analytics. The prescriptive analytics segment is expected grow at a more considerable Compound annual growth rate during the outlook period. The high increase of this segment is assigned to the ability of prescriptive analytics to assure the synergistic integration of predictions and prescriptions

The services segment is forecasted to dominate the industry during the estimate period

Established on component, the healthcare fraud detection market is broken down into services, software, and hardware. The services segment recorded for the most important share of the healthcare fraud detection market in 2016. With the rising need for business analytics services and the introduction of technologically advanced healthcare fraud detection software, which requires extensive training to use as well as regular upgrades, the services segment is anticipated to grow at the highest CAGR (Compound annual growth rate) during the outlook period

North America to witness high rise during the estimate period

In 2017, North America continent is forecasted to account for the biggest share of the market succeeded by EU. This regional segment is projected to register the highest compound annual growth rate (CAGR) during the outlook period. Elements such as growth in the number of people seeking health insurance, growing cases of healthcare fraud, favorable government initiatives to combat healthcare fraud, growing pressure to minimize healthcare costs, technological improvements, and greater product and service availability in this area are forecast to steer industry growth in North America (NA).

The primary interviews conducted for this business report can be categorized as follows:

• By Company category: Tier 1 - 33.0 percent; Tier 2 - 45.0 percent; Tier 3 - 22%.

• By Description : C-level- 22.0 percent; D-level- 27.0 percent; others- 51%.

• By Area: North America continent - 62.0 percent; Europe (EU) - 13.0 percent; Asia area - 21.0 percent; South America- 3.0 percent, and Middle East (ME) & Africa- 1%.

Segment Research

The industry report offers an overview of the healthcare fraud detection market. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including type, application, component, delivery model, end-user, and area. Moreover, the study also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, recent evolutions, and key industries strategies.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector by providing them with the closest approximations of revenues for the global healthcare fraud detection market and its sub-segments. This industry report will facilitate partners to comprehend the competitive landscape better and acquire business insights to position their businesses and help firms make suitable go-to-market approaches. The market research also benefits partners comprehend the pulse of the sector and offer them with info concerning main market drivers and alternatives.

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