Healthcare Fraud Analytics Market Size

Healthcare Fraud Analytics Market size is evaluated at USD 3.1 billion in 2024 and is anticipated to cross USD 42.1 billion by the end of 2037, expanding at more than 24.3% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of healthcare fraud analytics is estimated at USD 3.8 billion.

The crucial growth drivers that fuel the growth of the market are budding health expenditures that open avenues for fraudulent claims and thus make it imperative to adopt advanced analytics. Also, a wide acceptance of data analytics and AI in healthcare facilitates detecting and preventing fraudulent claims. Furthermore, regulatory pressures and compliance mandates fuel market growth as healthcare organizations strive to meet the standards. With the rising incidence of healthcare fraud associated with identity theft, billing errors, and the manipulation of a patient's medical records, the need for proactive detection rises and drives growth. Moreover, advances in machine learning and predictive modeling and the shift from pay-and-chase to enable real-time prevention of loss in financial fraud assist the market to be opportunistic.

Another significant reason for the market propels owing the growing demand due to IoT and cloud computing, real-time analytics, and visualization, the need for risk management and compliance solutions is growing, as value-based care and payment integrity. Thus, all these factors come together and form a compelling business case for healthcare fraud analytics and drive investments and innovation in the market. In August 2024, Medibuddy introduced Sherlock, a cutting-edge AI-enabled fraud detection system that allows for the real-time detection of medical reimbursements incorporated with artificial intelligence, machine learning, and data analytics.