Healthcare Payer Services Market, June 2021 Report On Trends 2021, Industry Size, Growth Rate, Share, Supply Chain Analysis, Impact of COVID-19, Development Status, Risk and Challenges 2030

In a recently published report, Healthcare Payer Services Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Healthcare Payer Services Market products.

Request To Download Sample of This Strategic Report:

Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global healthcare payer services market to reach USD 37.4 billion by 2025.Global healthcare payer services market is valued at approximately USD 14.9 billion in 2017and is anticipated to grow with a healthy growth rate of more than 12.2 % over the forecast period 2018-2025. Vigorously changing reforms for healthcare such as technological advancements, rising healthcare expenditure are convincing payers to re-design their business models and processes for sustainable operational excellence while certifying excellent quality patient care. Since these payers’ solutions enables maximize customer service and derive operational excellence for the healthy patient experience and relationship. Thus, growing needs to improve patient care is anticipated to supplement the growth of the healthcare payer services market over the forecast period of 2018-2025.

Request To Download Sample of This Strategic Report:

The healthcare payer services market is significantly driven by increasing healthcare frauds. According to the Coalition against Insurance Fraud Organization, in year 2015 scams against private and government healthcare insurers forms the largest type of insurance fraud. According to the Coalition against Insurance Fraud Organization, healthcare frauds are likely to steal approx. $10 billion per year. In year 2015, approx. 478 healthcare frauds are reported which directly generates the need for the healthcare payer services across the globe. As healthcare payer services are considered as a successful business model that mitigates the risk of fraud, procurement, administrations and develops cost-effective healthcare processes. As a result, the demand and adoption of healthcare payer services would increase thereby, aiding the growth of the market across the forecast period. Furthermore, the advent of advanced data analytics offers lucrative growth prospects for the healthcare payer services market. However, rising incidences of data breaches and concerns related to confidentiality is expected to hinder the growth of the market during the forecast period.

On the basis of segmentation, the healthcare payer services market is segmented into service type, application and end-users. The service type segment of global healthcare payer services market is classified into business process outsourcing services, knowledge process outsourcing services and information technology outsourcing services. Based on application segment, the market is diversified into claim management services, member management services, provider management services, integrated front-end services and back-offices operations, analytics and fraud management services, billing and accounts management services and HR Services of which claim management is expected to dominate the market owing to the increasing number of people enrolling for health insurance. The end-user segment includes public payers and private payers.

The regional analysis of healthcare payer services market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America holds the leading position in healthcare payer services market owing to the lack of low-cost skilled professionals, rising demand for integrated healthcare system along with the rising insurance enrollment. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific is witnessed owing to countries such as India, China, Vietnam, Singapore, Malaysia, Philippines are involved in outsourcing activities. Also, improving healthcare infrastructure is also expected to supplement the growth of Asia-Pacific region over the forecast period.

The leading market players include-

Cognizant Technology Solutions
Accenture PLC
Exlservice Holdings, Inc.
Concentrix Corporation
Hinduja Global Solutions Limited
Dell, Inc.
Xerox Corporation
HCL Technologies Ltd.
Wipro Limited

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Service Type: 
Business Process Outsourcing Services
Knowledge Process Outsourcing Services
Information Technology Outsourcing services

By application: 
Claim Management services
Member Management services
Provider management services
Integrated Front-end services and back-offices operations
Analytics and fraud management services
Billing and accounts management services
HR Services

By End-user: 
Public Payers
Private Payers

By Regions:

North America
o U.S.
o Canada
o UK
o Germany
Asia Pacific
o China
o India
o Japan
o Brazil
o Mexico
o Middle East & Africa

Request for Sample Report@

Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

Target Audience of the Global Healthcare Payer Services Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us

Kenneth Research
Phone: +1 313 462 0609

Leonard Thomas is an energetic and versatile freelance writer for 5 years, he pen down any type of articles and web content. he is a Cambridge University Business English Certificate (Europe Level) holder . he is analytical, enthusiastic and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses .

Leave a Reply