Healthcare Fraud Detection Market: Growth Predictions, Trends and Leading Players

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Predictions show an exponential global growth for the healthcare fraud detection market, reaching $13.77 billion by 2029, marching ahead with a CAGR of 31.1%. Market expansion is fueled by factors like rising cyber threats, regulatory changes, and digitalization, along with major companies leading the way.

What Is The Projected Market Size Of The Global Healthcare Fraud Detection Market And Its Growth Rate?

• The healthcare fraud detection market has seen a notable growth in recent years. The market size which was $3.62 billion in 2024 is projected to grow to $4.67 billion in 2025, indicating a compound annual growth rate (CAGR) of 28.9%.
• This growth is attributed to increased cyber threats, market competition, patient identity verification, and fraudulent claim identification.
• Looking forward, the market size is expected to reach $13.77 billion in 2029 with a CAGR of 31.1%. Key factors such as regulatory changes, increasing digitalization, sophisticated fraud schemes, and focus on insurance fraud are driving this growth.

What is Driving The Growth In The Healthcare Fraud Detection Market?

The escalating fraudulent events within the healthcare sector are primarily driving the healthcare fraud detection market. The deliberate misrepresentation of patient data and insurance information, with an intention to deceitfully gain or deny a user of a legal right, is considered a fraudulent event. In 2022, a UK-based finance organization reported a significant number of APP fraud incidents amounting to £485.2 million losses. Hence, such occurrences are likely to stimulate the market growth for healthcare fraud detection.

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Who Are the Key Players Driving Healthcare Fraud Detection Market Growth?

Companies leading the healthcare fraud detection market include:

• International Business Machines Corporation
• Cotiviti Inc.
• Fair Isaac Corporation
• SAS Institute Inc.
• CGI Inc.
• DXC Technology Company
• RELX Group PLC
• EXL Service Holdings Inc.
• HCL Technologies Limited
• UnitedHealth Group Incorporated, and others

What Are The Key Trends In The Healthcare Fraud Detection Market?

Key trends shaping the healthcare fraud detection market include:

• Advanced technology integration
• Real-time monitoring
• Behavioral analytics
• Use of blockchain for security
• Verification of patient identity

What Are The Segments Of The Global Healthcare Fraud Detection Market?

The global healthcare fraud detection market is segmented as follows:

1) By Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics
2) By Model: On-Premise Delivery, On-Demand Delivery
3) By Component: Services, Software
4) By Application: Insurance Claims Review, Payment Integrity
5) By End User: Healthcare Payers, Government Agencies, Other End-Users

Which Region Leads The Healthcare Fraud Detection Market?

In 2024, North America was the largest region in the healthcare fraud detection market. The other regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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What Is Covered In The Healthcare Fraud Detection Market Global Market Report?

- The Market Size Analysis analyzes the Healthcare Fraud Detection Market size by key regions, countries, product types, and applications.

- The Market Segmentation Analysis identifies various subsegments within the Healthcare Fraud Detection Market for effective categorization.

- The Key Player Focus focuses on key players to define their market value, share, and competitive landscape.

- The Growth Trends Analysis examines individual growth trends and prospects in the Market.

- The Market Contribution evaluates contributions of different segments to the overall Healthcare Fraud Detection Market growth.

- The Growth Drivers detail key factors influencing market growth, including opportunities and drivers.

- The Industry Challenges analyze challenges and risks affecting the Healthcare Fraud Detection Market.

- The Competitive Developments analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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