U.S. Healthcare Payer Services Market Size & Outlook
U.S. healthcare payer services market, 2018-2030 (US$M)
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U.S. healthcare payer services market highlights
- The U.S. healthcare payer services market generated a revenue of USD 40,299.1 million in 2023 and is expected to reach USD 66,695.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 7.5% 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 40,299.1 million |
| Market revenue in 2030 | USD 66,695.2 million |
| Growth rate | 7.5% (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, U.S. accounted for 60.4% 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 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 |
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U.S. 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 U.S. 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 U.S. healthcare payer services market is being driven by the presence of a large number of health insurance companies operating in the nation. According to the Collective Medical article, over 900 health insurance companies contribute to 67.3% of private healthcare and 34.4% of public healthcare through their respective health plans.
At present, the top five players significantly influence the market, each playing a crucial role in the private insurance domain. UnitedHealth Group is leading with an impressive membership base of 49.5 million, while Anthem, Aetna (post-merger with CVS), Cigna, and Humana follow closely with 40.2 million, 22.2 million, 15.9 million, and 14 million members, respectively.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. healthcare payer services market , including forecasts for subscribers. This country databook contains high-level insights into U.S. healthcare payer services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. healthcare payer services market size, by services, 2018-2030 (US$M)
U.S. Healthcare Payer Services Market Outlook Share, 2023 & 2030 (US$M)
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