Healthcare Payer Services Market Analysis Till, 2014 - 2024.

The healthcare payer services market could be explored based on end use as Public Payer and Private Payer. The “Private Payers” segment led the healthcare payer services industry in 2015 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market includes increasing private investment in the healthcare payer vertical and rising government support to promote private investment in the healthcare industry. North America accounted for the major market share of the healthcare payer services in 2016 and will continue to lead in the forecast period.

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The factors that could be attributed to the growth include extensive technological developments in the region, increasing number of people opting for health insurance, rising implementation of ICD-10 codes in the U.S., the occurrence of developing IT and healthcare infrastructure, growing number of healthcare payer services providers. North America is followed by the European region owing to the enhanced digitization of healthcare procedures and implementation of technologically progressive systems in the region.

Some of the key players that fuel the market growth of healthcare payer services comprise Cognizant, Accenture, ExlService Holdings Inc, Concentrix Corporation, Teleperformance Group, Hexaware Technologies, HCL Technologies, Genpact, First Source Solutions Limited and Conduent. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.