Global Healthcare Fraud Detection Market to Reach $5.1 Billion by 2027
Amid the COVID-19 crisis, the global market for Healthcare Fraud Detection estimated at US$1 Billion in the year 2020, is projected to reach a revised size of US$5.1 Billion by 2027, growing at a CAGR of 25.9% over the analysis period 2020-2027. Descriptive Analytics, one of the segments analyzed in the report, is projected to record a 25.8% CAGR and reach US$2.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Predictive Analytics segment is readjusted to a revised 27.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $304.5 Million, While China is Forecast to Grow at 25.3% CAGR
The Healthcare Fraud Detection market in the U.S. is estimated at US$304.5 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$883.2 Million by the year 2027 trailing a CAGR of 25.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.1% and 22.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 18.2% CAGR.
Prescriptive Analytics Segment to Record 24.4% CAGR
In the global Prescriptive Analytics segment, USA, Canada, Japan, China and Europe will drive the 24.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$199.8 Million in the year 2020 will reach a projected size of US$918.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$605.1 Million by the year 2027.
Select Competitors (Total 31 Featured):
Amid the COVID-19 crisis, the global market for Healthcare Fraud Detection estimated at US$1 Billion in the year 2020, is projected to reach a revised size of US$5.1 Billion by 2027, growing at a CAGR of 25.9% over the analysis period 2020-2027. Descriptive Analytics, one of the segments analyzed in the report, is projected to record a 25.8% CAGR and reach US$2.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Predictive Analytics segment is readjusted to a revised 27.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $304.5 Million, While China is Forecast to Grow at 25.3% CAGR
The Healthcare Fraud Detection market in the U.S. is estimated at US$304.5 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$883.2 Million by the year 2027 trailing a CAGR of 25.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.1% and 22.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 18.2% CAGR.
Prescriptive Analytics Segment to Record 24.4% CAGR
In the global Prescriptive Analytics segment, USA, Canada, Japan, China and Europe will drive the 24.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$199.8 Million in the year 2020 will reach a projected size of US$918.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$605.1 Million by the year 2027.
Select Competitors (Total 31 Featured):
- CGI Group, Inc.
- Conduent, Inc.
- DXC Technology Company
- Fair Isaac Corporation
- HCL Technologies Ltd.
- IBM Corporation
- McKesson Corporation
- Northrop Grumman Corporation
- Optum, Inc.
- Pondera Solutions, Inc.
- SAS Institute, Inc.
- SCIO Health Analytics, an EXL company
- Verscend Technologies, Inc.
- Wipro Ltd.
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| Report Attribute | Details |
|---|---|
| No. of Pages | 131 |
| Published | April 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 1 Billion |
| Forecasted Market Value ( USD | $ 5.1 Billion |
| Compound Annual Growth Rate | 26.2% |
| Regions Covered | Global |
Table of Contents
I. METHODOLOGY
II. EXECUTIVE SUMMARY
III. MARKET ANALYSIS
IV. COMPETITION
