Healthcare Fraud Detection Market to Hit 28.9% CAGR to 2022, Led by North America Followed by Europe

PUNE, India, May 8, 2018 /PRNewswire/ --

ReportsnReports.com adds the healthcare fraud detection market is expected to reach USD 2,242.7 million by 2022 from USD 631.0 million in 2017, at a CAGR of 28.9%. Factors such as large number of fraudulent activities in healthcare; increasing number of patients seeking health insurance; prepayment review model; growing pressure of fraud, waste, and abuse on healthcare spending; and high returns on investments are driving growth of healthcare fraud detection market.

Browse 92 Market Data Tables and 39 Figures spread through 160 Pages and in-depth TOC on "Healthcare Fraud Detection Market by Type (Descriptive, Prescriptive), Application (Insurance Claim, Prepay, Post payment), Component (Service, Software), Delivery (On-premise, Cloud), End user (Insurance Payer, Private, Public) - Global Forecast to 2022" http://www.reportsnreports.com/reports/1282924-healthcare-fraud-detection-market-by-type-descriptive-prescriptive-application-insurance-claim-prepay-post-payment-component-service-software-delivery-on-premise-cloud-end-user-insurance-payer-pri-st-to-2022.html .

The healthcare fraud detection market is segmented into descriptive, predictive, and prescriptive analytics. The prescriptive analytics segment is expected grow at a highest CAGR during the forecast period. The high growth of this segment is attributed to the ability of prescriptive analytics to ensure the synergistic integration of predictions and prescriptions.

"The prescriptive analytics segment is expected to grow at the highest CAGR during the forecast period" 

North America is expected to account for the largest share of healthcare fraud detection market followed by Europe. This regional segment is expected to register highest CAGR during forecast period. Factors such as increase in number of people seeking health insurance, increasing cases of healthcare fraud, favorable government initiatives to combat healthcare fraud, rising pressure to reduce healthcare costs, technological advancements, and greater product and service availability in this region are expected to drive market growth in North America.

Report provides an overview of healthcare fraud detection market. It aims at estimating the market size and future growth potential of this market across different segments such as type, application, component, delivery model, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in market along with their company profiles, recent developments, and key market strategies.

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The healthcare fraud detection market is highly competitive with the presence of various players. Some of the major players operating in the market include IBM (US), Optum (US), SAS (US), McKesson (US), SCIO (US), Verscend (US), Wipro (India), Conduent (US), HCL (India), CGI (Canada), DXC (US), Northrop Grumman (US), LexisNexis (US), and Pondera (US).

"North America to witness high growth during the forecast period". 

This report segments the healthcare fraud detection market into type, component, delivery model, application, end user, and region. Based on type, the healthcare fraud detection market is segmented into descriptive, predictive, and prescriptive analytics. The descriptive analytics segment is expected to account for the largest share of the healthcare fraud detection market, by type, in 2017. However, prescriptive analytics is slated to grow at the highest CAGR due to its ability to ensure the synergistic integration of predictions and prescriptions.

Order a copy of "Healthcare Fraud Detection Market by Type (Descriptive, Prescriptive), Application (Insurance Claim, Prepay, Post payment), Component (Service, Software), Delivery (On-premise, Cloud), End user (Insurance Payer, Private, Public) - Global Forecast to 2022" research report at http://www.reportsnreports.com/purchase.aspx?name=1282924 .

The healthcare fraud detection market is segmented into descriptive, predictive, and prescriptive analytics. Descriptive analytics segment is expected to account for largest share of healthcare fraud detection market, by type, in 2017. However, prescriptive analytics is slated to grow at highest CAGR due to its ability to ensure synergistic integration of predictions and prescriptions.

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

• By Company Type: Tier 1 - 33%; Tier 2 -45%; Tier 3 - 22%.
• By Designation (Supply Side): C-level- 22%; D-level- 27%; others- 51%.
• By Region: North America-62%; Europe-13%;Asia-21%; South America- 3%, and Middle East & Africa- 1%.

Another research titled the global Fraud Detection and Prevention (FDP) market size is estimated to be USD 14.37 Billion in 2016, at a Compound Annual Growth Rate (CAGR) of 20.1%. The base year considered for the study is 2016, and the market size is calculated from 2017 to 2022. The fraud detection and prevention market comprises major vendors, such as IBM (US), FICO (US), Oracle (US), SAS Institute (US), BAE Systems (UK), DXC Technology (US), SAP (Germany), ACI Worldwide (US), Fiserv (US), ThreatMetrix (US), NICE Systems (Israel), Experian (US), and LexisNexis (US). The stakeholders include FDP service providers, consulting firms, cybersecurity vendors, Value-added Resellers (VARs), telecom providers, and information technology security agencies, are some of key players in the global fraud detection and prevention market available with 160 pages at http://www.reportsnreports.com/contacts/discount.aspx?name=272449 .

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