The global medical coding market size is expected to reach USD 25.4 billion by 2025, according to a new report by Grand View Research, Inc., registering a 10.0% CAGR during the forecast period. Rising need for a universal language to reduce frauds and misinterpretations associated with insurance claims is driving market growth.
Presently, medical coding is in its initial phase with frequent introduction of advanced versions of classification systems. In addition, number of coders is constantly rising as a result of career opportunities in this field. Escalating demand for coding services, coupled with the aforementioned factors, is driving market growth.
Constant revisions in classification systems and its global acceptance is expected to result in lucrative growth during the forecast years. Rising demand for world-class healthcare services in developing regions is also anticipated to boost adoption of medical coding procedures.
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Key Takeaways from the report:
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Grand View Research has segmented the global medical coding market on the basis of classification system, component, and region:
Medical Coding Classification System Outlook (Revenue, USD Million, 2014 – 2025)
Medical Coding Component Outlook (Revenue, USD Million, 2014 – 2025)
Medical Coding Regional Outlook (Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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