Healthcare Claims Management Solutions Market To Observe Exponential Growth By 2020-2027

Pune, Maharashtra, India, November 27 2020 (Wiredrelease) Allied Analytics –:Healthcare Claims Management Solutions Market is expected to garner $5,213 million, growing at a CAGR of 5.1% during the period  2027. The software segment accounted for two-thirds share of the global market in 2015, owing to increase in adoption of software by healthcare payers to manage the aggrandized claims-related data and surge in the number of claims applications & insurance coverage requests.

The web-based claims management systems segment accounted for two-thirds share of the global market in 2015, owing to the ease of accessibility offered by these systems. However, the cloud-based deployment segment is expected to grow rapidly by 2022, owing to the associated benefits of these systems such as secure data management, remote accessibility to data, and reduced costs of operations.

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“North America and Europe are expected to dominate the global healthcare claims management solutions market during the forecast period. However, the emerging economies in Asia-Pacific and Latin America are expected to offer significant growth opportunities in the near future.”

In 2015, North America was the highest revenue contributor to the global market, owing to heavy expenditure to improve the healthcare infrastructure in the region, develop healthcare system, and increase insurance coverage in North American countries. However, the Asia-Pacific region is projected to grow at the highest CAGR of 7.3% during the forecast period, owing to the latent opportunities available for players offering healthcare claims management solutions. The growth of the Asia-Pacific region is supplemented by proactive government initiatives to increase health insurance coverage, surge in geriatric population, and high prevalence of chronic diseases in the region. The healthcare claims management solutions market in Asia is in its nascent stage; thus, is expected to offer new opportunities to market players in the near future.

Key Findings of the Healthcare Claims Management Solutions Market: 

-In 2019, the software segment accounted for more than two-thirds share of the global market.

-The web-based deployment segment contributed the highest revenue to the global market, accounting for more than two-third shares in 2019.

-The cloud-based deployment segment is projected to grow at the fastest CAGR of 6.7% during the forecast period.

-North America market is projected to grow at a CAGR of 4.9% from  2027.

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The major companies profiled in the report include Cerner Corporation, Avaya Inc., Oracle Corporation, Infor Inc., Allscripts Healthcare Solutions, Inc., Athenahealth Inc., Accenture plc, IBM Corporation, Cognizant Technology Solutions Corporation, and Genpact Limited.

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