For more insights on the healthcare fraud detection market - Request a Free Sample Report!
The healthcare fraud detection market covers the following areas:
Healthcare fraud detection market - Driver
The key factor driving growth in the healthcare fraud detection market is the increased number of patients seeking health insurance. The number of people benefitting from various healthcare schemes has grown considerably over the years. The rise in the aging population increased the burden of diseases, and growth in healthcare expenditure are the major factors that contribute to the growth of the health insurance market. Developing countries such as Asia are significantly growing in health insurance coverage, primarily due to the rising government initiatives, increasing government and private investments for promoting medical insurance, and growing income levels. This growth is aided by the increasing affordability of health insurance for the middle class in this region and the rising awareness regarding the benefits of health insurance.
Healthcare fraud detection market - Challenge
The time-consuming deployment and need for frequent upgrades will be a major challenge for the healthcare fraud detection market during the forecast period. The placement of fraud analytics solutions is a time-consuming process. The process involves creating user interfaces, new databases, and predictive models; evaluating and deploying models, and monitoring their effectiveness. In this process, data analysts continuously run algorithms until they get the most effective predictive model. At times, analysts may not find the appropriate predictive model for expected outcomes, which results in time wastage. This means they must start the same process again with new data. Furthermore, the software requires frequent upgrades, as fraudsters constantly change tactics. This adds to the total cost of fraud analytics solutions. Such challenges can hinder the growth of the market in focus.
Healthcare fraud detection market - Segmentation
The Healthcare Fraud Detection Market is segmented by Type (descriptive analytics, predictive analytics, and prescriptive analytics) and Geography (North America, Europe, Asia, and ROW).
Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Companies Mentioned
The healthcare fraud detection market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- CGI Inc.
- Conduent Inc.
- Cotiviti Inc.
- ExlService Holdings Inc.
- HCL Technologies Ltd.
- International Business Machines Corp.
- SAS Institute Inc.
- Thomson Reuters Corp.
- UnitedHealth Group
- Wipro Ltd.
Subscribe to our "Lite Plan" billed annually at USD 3000 to join a community, who are eligible to view 3 reports monthly and download 3 reports annually.
Related Reports:
Personal Emergency Response System (PERS) Market -The personal emergency response system (PERS) market share is expected to increase by USD 2.25 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.98%. Download a free sample now!
Healthcare IT Market -The healthcare IT market has the potential to grow by USD 121.75 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 9.76%. Download a free sample now!
Healthcare Fraud Detection Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.26% |
Market growth 2022-2026 |
USD 1.26 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.37 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 43% |
Key consumer countries |
US, Canada, China, Germany, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
CGI Inc., Conduent Inc., Cotiviti Inc., ExlService Holdings Inc., HCL Technologies Ltd., International Business Machines Corp., SAS Institute Inc., Thomson Reuters Corp., UnitedHealth Group, and Wipro Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article