Canada Healthcare Payer Services Market Size & Outlook
Canada healthcare payer services market, 2018-2030 (US$M)
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Canada healthcare payer services market highlights
- The Canada healthcare payer services market generated a revenue of USD 10,189.5 million in 2023 and is expected to reach USD 15,552.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 6.2% 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 10,189.5 million |
| Market revenue in 2030 | USD 15,552.3 million |
| Growth rate | 6.2% (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, Canada accounted for 15.3% 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 North America, U.S. healthcare payer services market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 66,695.2 million by 2030.
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Healthcare Payer Services Market Scope
Healthcare Payer Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 51.33% in 2023. Horizon Databook has segmented the Canada healthcare payer services market based on bpo services, ito services, kpo services covering the revenue growth of each sub-segment from 2018 to 2030.
The Canadian government provides various health insurance programs, boosting the market growth. According to Health Canada's 2022-2023 report, priorities emphasize ensuring access to effective health services.
Allocated funds of USD 85.9 million under the Health Care Policy and Strategies Program are expected to help focus on enhancing the quality and sustainability of the healthcare system, with specific attention to palliative care, mental health, and emerging priorities.
Remarkably, USD 37.5 million allocated in Budget 2021–2022 supports the development of national mental health standards. A further USD 14.25 million provided annually until 2026–2027 is dedicated to the Mental Health Commission of Canada to address suicide prevention, mental health & substance use integration, and population-based initiatives.
The evolving healthcare landscape highlights the critical role of healthcare payer services in facilitating the implementation of strategic priorities and ensuring effective access to mental health services in Canada.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada healthcare payer services market , including forecasts for subscribers. This country databook contains high-level insights into Canada healthcare payer services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada healthcare payer services market size, by services, 2018-2030 (US$M)
Canada Healthcare Payer Services Market Outlook Share, 2023 & 2030 (US$M)
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