Healthcare Fraud Detection Market Outlook, Size 2022 Global Opportunities, Trends, Share, Regional Overview, Global Growth, And Country Forecast to 2030
Market Insights:
The increasing
count of causes related to medical scams, false insurance claims, exploitation
of medical funds, etc. has necessitated the adoption of healthcare fraud
detection technology, and the trend is
anticipated to continue across the review period. Healthcare Fraud Detection Market Size was
valued at USD 3 billion in 2022 and is projected to grow from USD 3.8 Billion
in 2023 to USD 18.3 billion by 2030, exhibiting a compound annual growth rate
(CAGR) of 29.50% during the forecast period (2023 - 2030).
With the
developments in the healthcare sector,
the number of frauds has been on the rise, which includes drug frauds, medical insurance frauds, and medicine
frauds. The growth of healthcare fraud detection market is expected to
accelerate considering the increasing number of scams.
The embracement
of fraud analytics ensures optimum utilization of medical funds by minimizing
embezzlement of funds and subsidies. Thus, the Healthcare Fraud Detection
market Outlook is likely to proliferate
rapidly over the next couple of years.
Some of the
factors responsible for holding the market growth through the review period are
lack of skilled personnel, reluctance in the adoption
of the technology, etc.
Market Segmentation:
·
By components, the Healthcare
Fraud Detection Market Insights is segmented
into software and services. Among these, the services segment is likely to
register a relatively higher CAGR during the projection period.
·
By kinds, the global healthcare fraud detection market has been segmented into predictive analytics,
descriptive analytics, and prescriptive analytics. The prescriptive analytics segment is expected to show the steepest
rise in the growth while descriptive
analytics segment is estimated to be the primary revenue generator in the
market.
·
By delivery models, the healthcare fraud detection market is segmented into on-demand, and on-premise. Among these, the
on-demand segment is expected to demonstrate a relatively higher growth rate.
·
By end-users, the global healthcare fraud detection market has been segmented into employers,
regulatory/public agencies, private insurance payers, third-party services, payment integrity, insurance claim reviews,
and identity & case management.
Competitive Dashboard:
Some of the key profiled by MRFR in Healthcare
Fraud Detection Market Players are SAS, Conduent, Optum, Pondera, IBM, and Wipro among others. The strategies devised by the
players for garnering share and control over the market include acquisitions
& developments, strategic alliances, technological developments, product
portfolio expansion, innovation, etc.
Regional Analysis:
By region, the
global Healthcare
Fraud Detection Market Outlook has been
segmented into Americas, Asia Pacific, Europe, and the Middle East &
Africa. Americas currently accounts for the largest
share of the global market and is expected to retain its dominance over the
forecast period. Europe is likely to hold the second spot in the global healthcare fraud detection market. The
growth of the market is attributable to technological developments,
accessibility to products & services, etc. Asia
Pacific is expected to remain a highly lucrative market throughout the
assessment period.
Industry News:
·
In July 2018, Zelis Healthcare,
a market-leading healthcare technology company, announced the launch of fully
integrated Zelis Intelligent Claims Routing Platform that leverages Microsoft
Azure Artificial Intelligence. Zelis will help in minimizing the complexity that occurs due to errors, waste,
fraud, and abuse.
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