According to recent study published by Research Nester, the computer-assisted coding market is expected to cross USD 22 billion by 2036 and is projected to expand at a CAGR of over 11% between 2023 and 2036, due to the increasing implementation of EHR systems and rising utilization of CAC solutions to curtail healthcare costs.
Growing Adoption of Cloud-Based Solutions to Boost Global Market Share of Computer-Assisted Coding Market
The computer-assisted coding marketis estimated to grow majorly on account of the rising demand for the rising adoption of cloud-based solutions. With the rising utilization of cloud computing, there is a rising demand for cloud-based computer-assisted coding. It has been estimated that almost 83.1% of the healthcare sector is currently utilizing the cloud for their core operations. These solutions provide more scalability, flexibility, and accessibility to users. Other than this, the advancements in the medical domain are also projected to boost the market growth over the forecast period.
Some of the major growth factors and challenges that are associated with the growth of the computer-assisted coding market are:
Growth Drivers:
- Increasing adoption of cloud-based solutions
- Emergence of new healthcare delivery models
Challenges:
The exorbitant cost of computer-assisted coding and lack of skilled workforce for system are some of the major factors anticipated to hamper the global market size of the computer-assisted coding market.
By end user, the computer-assisted coding marketis segmented by hospitals, clinical laboratories, and diagnostic centers. Out of these, the hospital segment is expected to hold the maximum share with almost 43% during the forecasted period. In the year 2021, almost 165,100 hospitals were present in the world, which is projected to offer lucrative opportunities for the market. Because hospitals deal with a wide range of medical specializations and procedures, they manage a high number of patient data and have complex coding demands. Therefore, with the rising number of hospitals, market in this segment is anticipated to witness significant growth.
By region, the Europe computer-assisted coding marketis to generate the highest revenue by the end of 2036. In the year 2020, almost 10.8% of the GDP of the European Union was allocated to healthcare. As the computer-assisted coding market is expected to witness remarkable growth on the back of high investment in healthcare, the market is estimated to have substantial growth in Europe region.
Key players present in the computer-assisted coding market are Oracle, CoxHealth, Cerner Corporation, Dolbey Systems Inc, Optum Inc., Fujitsu, NEC Corporation, Astellas Pharma Inc, Otsuka Holdings Co Ltd, NTT DATA Group Corporation, and others.
Source – https://www.researchnester.com/reports/computer-assisted-coding-market/5622
