According to the research report titled ‘Global Healthcare Fraud Analytics and Detection Market 2019-2028’, available with Market Study Report, global healthcare fraud analytics and detection market is anticipated to record a CAGR of 23.63% throughout 2019-2028.
 

Increasing healthcare expenditure, rising insurance facilities, and growing adoption of health insurance is majorly driving global healthcare fraud analytics and detection market growth. In addition, surging number of fraudulent activities are generating lucrative opportunities for the market development.
 

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On the downside, huge cost of the system and unwillingness regarding adoption of this system in developing or undeveloped countries are likely to hamper the market progress over the projected timeline.
 

Based on type, global healthcare fraud analytics and detection industry is segmented into descriptive analysis, predictive analysis, and prescriptive analysis. Considering application range, the marketplace is categorized into review of insurance claims and payment integrity. Moving on to end user spectrum, the business space is divided into private insurance payers, government agencies, and other end-users.
 

The regional analysis of the industry is studied for Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
 

Asia Pacific market is anticipated to showcase significant growth over the assessment period owing to various initiatives by governments of different countries to enhance the healthcare sector coupled with high concentration of prominent players in the region. Moreover, increasing number of fraud cases in the healthcare space have resulted in huge losses for the insurers, thereby augmenting the demand for healthcare fraud analytics and detection in Asia-Pacific.
 

Prominent companies profiled in the global healthcare fraud analytics and detection industry are UnitedHealth Group (Optum, Inc.), RELX Group PLC, SAS Institute Inc., OSP Labs, Northrop Grumman Corporation, McKesson Corporation, International Business Machines Corporation, EXL Service, DXC Technology, CGI Inc., Pondera Solutions Inc., Fair Isaac Corporation, Change Healthcare Solutions LLC, and Cotiviti Inc.
 

Industry players are focusing on research & development for introducing innovative systems to garner significant returns. Moreover, expansions and strategies like mergers, acquisitions and partnerships are likely to play important role in swaying the competitive dynamics in the forthcoming years.