The Global Computer-assisted Coding Market Is Projected To Reach USD 4.75 Billion By 2022 At A CAGR Of 11.5%
NEW YORK, Dec. 1, 2017 /PRNewswire/ -- The global computer-assisted coding market is projected to reach USD 4.75 billion by 2022 at a CAGR of 11.5% during the forecast period.
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The factors expected to drive the growth of the market are increased regulatory requirements for patient data management, increasing implementation of EHR (electronic health records), and growing utilization of computer-assisted coding systems to curtail the soaring healthcare costs. The rapid growth in developing countries across APAC is also expected to provide an opportunity for revenue generation in the market. However, high implementation and maintenance expenses for computer-assisted coding and lack of IT professionals in the healthcare industry are expected to hinder the growth of the computer-assisted coding market to some extent.
The integrated computer-assisted coding software segment is expected to grow at the highest CAGR during the forecast period.
Based on product & service, the market is categorized into solutions and services. In 2016, the solutions segment dominated the market. The solutions segment is subsegmented into standalone software and integrated software. The integrated computer-assisted coding software segment is the fastest-growing segment of the global computer-assisted coding solutions. This can be attributed to the growing need for optimized computer-assisted coding software for seamless workflow and successful data integration within healthcare provider systems
The web-based solutions segment to dominate the global computer-assisted coding market during the forecast period
Based on the mode of delivery, the global computer-assisted coding market is segmented into web-based solutions, cloud-based solutions, and on-premise solutions. In 2016, the web-based solutions segment accounted for the largest share of the global computer-assisted coding market. Web-based solutions help clinicians to create complete and accurate clinical documentation. Healthcare providers prefer web-based solutions owing to their data security features, cost benefits and ease of support in downstream revenue cycle and quality reporting processes.
North America to witness the highest growth during the forecast period (2017-2022)
North America is the largest market for computer-assisted coding, followed by Europe, Asia-Pacific, and the Rest of the World. The implementation of ICD-10 coding standards in the country's healthcare system and the resultant demand for effective claims management processes in the country's healthcare delivery framework are some of the factors contributing to the large share of North America in the market. However, the Asia-Pacific market is expected to register the highest growth during the forecast period owing to the growing need to curtail healthcare delivery costs, increasing implementation of electronic health records in healthcare, and rising medical tourism in this region.
Break of primary participants was as mentioned below:
-- By Company Type - Tier 1-45%, Tier 2-40% and Tier 3-15%
-- By Designation - C-level-41%, Director Level-30%, Others-29%
-- By Region - North America-38%, Europe-31%, Asia-Pacific-19%, RoW-12%
The major players in the computer-assisted coding market are 3M Health Information Systems (U.S.), Optum, Inc. (U.S.), Nuance Communications, Inc. (U.S.), McKesson Corporation (U.S.), Cerner Corporation (U.S.), Dolbey Systems, Inc. (U.S), Precyse Solutions LLC. (nThrive) (U.S.), Craneware plc (U.K.), Artificial Medical Intelligence (U.S.), TruCode (U.S.). Other players include Quest Diagnostics (U.S.), Streamline Health Solutions (U.S.), M-scribe Technologies, LLC (U.S.), eZDI Inc. (U.S.), Alpha II LLC. (U.S.), ID GmbH & Co. KGaA (Germany), ZyDoc (U.S.), Coding Strategies, Inc. (U.S.), Patient Code Software (U.S.), and Flash Code (U.S.).
Research Coverage:
The report analyzes the computer-assisted coding market and aims at estimating the market size and future growth potential of this market based on various segments such as product & service, application, mode of delivery, end user, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies. This report also provides market information on North America, Europe, Asia-Pacific, and the Rest of the World.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on product portfolios offered by the top players in the computer-assisted coding market. This report analyzes the market by product & service, application, mode of delivery, end user, and region
-- Product Development/Innovation: Detailed insights on the upcoming trends and product launches in the computer-assisted coding market
-- Market Development: Comprehensive information about the lucrative emerging markets for computer-assisted coding
-- Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the computer-assisted coding market
-- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and technological capabilities of the leading players in the computer-assisted coding market
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