North America Fraud Detection Market

Driven by the population growth and a rise in disposable incomes, the demand for healthcare is increasing, significantly. However, fraud and abuse in the healthcare sector are also on the rise, especially in the reimbursement processes. An increase in number of healthcare facilities and fraudulent activities in the region drive the demand for effective and efficient IT-based fraud detection systems in North America. This rising demand drives the North American fraud detection market.

The North American fraud detection market is the largest segment in the global market for healthcare fraud detection systems, having accounted for a share of 58.92% in 2013. The North American market is projected to grow at a CAGR of 5.5% from 2013 to 2018. The U.S. segment held a vast majority of the North American market, after recording a market share of 92.15% in 2013. The Canadian fraud detection segment is expected to be the fastest-growing segment in the North American region, projected to grow at a CAGR of 6.2% from 2013 to 2018.

The increasing number of healthcare delivery facilities in the region has resulted in the inevitable need for more effective and efficient healthcare fraud detection systems, as fraudulent medical claims affect the healthcare facilities as well as the society at large in multiple ways. The governments and top market players are investing heavily into the development of healthcare IT infrastructure in order to ensure effective fraud detection, with the help of statistical tools, software, and analytics. These investments coincide with high return-on-investments (ROI) that is being observed in the region. In addition, IT-based detection helps minimize administrative and operational costs. Furthermore, healthcare expenditure is one of the most important macroeconomic variables that impact the growth of the healthcare fraud detection market. The higher the healthcare expenditure more is the investment into healthcare IT infrastructure, thereby resulting in the growth of the fraud detection and other healthcare IT market segments. The North American healthcare fraud detection market is expected to grow significantly in the coming years mainly owing to the aforementioned factors. Some of the major companies that contribute to the growth of the market are Cerner Corporation (U.S.), Avaya, Inc. (U.S.), and Oracle Corporation (U.S.), among others.

The North American fraud detection market report provides insights into the segmentation of the healthcare fraud detection market in the North American region. The North American market has been segmented in terms of end-users, products, components, deployments, and major countries in the region. The U.S., Canada, and Mexico are the countries that have been considered for this extensive market analysis. In terms of end-users, the market has been segmented into emergency healthcare providers, hospitals, nurses, and office-based physicians, among others. The main components of fraud detection systems are hardware, software, and services. On the basis of deployment models, the market has been segmented into cloud-based, web-based, and on-premise. The main products of this market are integrated fraud detection and standalone fraud detection. The report also delivers an analysis of the competitive landscape and profiles of key players in the North American fraud detection market.

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