The global Healthcare Fraud Analytics Market is estimated to attain a market valuation of USD 6.65 Billion by 2027, with a CAGR of 27.8%, according to the latest research by Emergen Research. The market growth is predominantly accredited to the increasing number of fraudulent activities in health insurance globally. Additionally, surging pharmacy associated frauds, rising patient pool opting for health insurance, and the growing need to track scams are bolstering the market growth. Moreover, the escalating adoption of cutting-edge fraud analytics software and cloud-based analytics solutions are adding traction to market growth.
In addition to this, the surging initiatives and financial support by the government to prevent frauds and false insurance claims in the healthcare industry are boosting the market demand. However, lack of skilled professionals and the inability of large organizations to accurately implement the fraud analytics solutions are predicted to impede the market growth.
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Key Highlights from the Report:
- The on-premises segment is predicted to command the market during the estimated timespan. Solutions provided in-house within a company’s IT infrastructure in an on-premise deployment and are incredibly essential for managing expenses, usage of resources. The company is responsible for the management of these solutions and other related activities.
- Throughout the estimated timeframe, the insurance claims segment is predicted to command the market growth attributed to the increasing patients needing medical insurance, escalating incidences of fraudulent claims, and the accelerating adoption of pre-payment assessment processes.
- The Predictive segment is estimated to lead the industry’s expansion, proliferating at an annual rate of 28% throughout the projected timeframe. The segment growth can be attributed to predictive analytics’ enhanced capability to identify potentially fraudulent patterns to generate numerous claims rapidly.
- North America is predicted to lead the market growth during the estimated timeframe accredited to an escalating population seeking healthcare insurance, rising incidences of fraudulent claims, increasing government efforts to prevent frauds, and the rising need for minimizing healthcare costs. Moreover, the rapid technological advancements and the increased availability of advanced products and services are adding traction to market expansion.
- Major industry players include ExlService Holdings, Inc., Wipro Limited, FraudScope, Inc., DXC Technology Co, SAS Institute, International Business Machines Corporation (IBM), Conduent Inc., Pondera Solutions, LLC, CGI Inc., and HCL Technologies Limited.
- DWS Ltd., completed the acquisition of HCL Technologies Ltd., in September 2020. This acquisition will bolster the presence and portfolio of HCL Technologies in Australia and New Zealand.
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For the purpose of this report, Emergen Research has segmented the global Healthcare Fraud Analytics Market on the basis of deployment, application, solution, and region:
Deployment Outlook (Revenue, USD Billion; 2017–2027)
Application Outlook (Revenue, USD Billion; 2017–2027)
- Insurance Claim
- Payment Integrity
Solution Outlook (Revenue, USD Billion; 2017–2027)
- Predictive Analytics
- Prescriptive Analytics
- Descriptive Analytics
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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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About Emergen Research
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