Australia Healthcare Payer Services Market Size & Outlook
Australia healthcare payer services market, 2018-2030 (US$M)
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Australia healthcare payer services market highlights
- The Australia healthcare payer services market generated a revenue of USD 283.7 million in 2023 and is expected to reach USD 481.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 7.9% from 2024 to 2030.
- In terms of segment, ito services was the largest revenue generating services in 2023.
- KPO Services is the most lucrative services segment registering the fastest growth during the forecast period.
Healthcare payer services market data book summary
| Market revenue in 2023 | USD 283.7 million |
| Market revenue in 2030 | USD 481.6 million |
| Growth rate | 7.9% (CAGR from 2023 to 2030) |
| Largest segment | Ito services |
| Fastest growing segment | KPO Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BPO Services, ITO Services, KPO Services |
| Key market players worldwide | Cognizant Technology Solutions Corp Class A, ExlService Holdings Inc, Accenture PLC Class A, Xerox Holdings Corp, Concentrix Corp Ordinary Shares, Genpact Ltd, Wipro Ltd ADR, HCL Technologies, Hinduja Global Solutions |
Other key industry trends
- In terms of revenue, Australia accounted for 0.4% of the global healthcare payer services market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China healthcare payer services market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,799.9 million by 2030.
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Healthcare Payer Services Market Scope
Healthcare Payer Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia healthcare payer services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to healthcare payer services market will help companies and investors design strategic landscapes.
Ito services was the largest segment with a revenue share of 51.08% in 2023. Horizon Databook has segmented the Australia healthcare payer services market based on bpo services, ito services, kpo services covering the revenue growth of each sub-segment from 2018 to 2030.
Australia has demonstrated remarkable success in healthcare innovation, securing the 5th position in the 2022 World Index of Health Innovation, a significant improvement from 7th in 2021 and 11th in 2020. According to a FREOPP.org article, this rise can be attributed to Australia's outstanding performance in Quality (5th) and Choice (3rd).
The country's healthcare system, characterized by a two-tiered public-private structure, is similar in some respects to the U.S. model for primary and secondary schools. While all Australians are eligible for the public single-payer healthcare system, Medicare, a substantial 45% opt for private insurance.
Australia's universal public health insurance through Medicare caters to citizens, residents with permanent visas, and New Zealand citizens. The Medicare framework comprises three essential programs. The Original Medicare Safety Net covers all Medicare services outside the hospital, exceeding an annual out-of-pocket threshold of AUD 447 (USD 290).
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia healthcare payer services market , including forecasts for subscribers. This country databook contains high-level insights into Australia healthcare payer services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia healthcare payer services market size, by services, 2018-2030 (US$M)
Australia Healthcare Payer Services Market Outlook Share, 2023 & 2030 (US$M)
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