Pune, India -- (SBWIRE) -- 04/24/2019 -- The report on Computer Assisted Coding Market by products and services (services, software), mode of delivery (cloud-based solutions, web-based solutions), applications (computer-assisted encoding, management reporting), end user (hospitals, physician practices and others) trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World.

According to the report, the global computer assisted coding market is projected to grow at a CAGR 11.5% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.

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Software is estimated to account for the largest share of the market in 2017

By product and service, the computer assisted coding market is classified into services and software. The software segment is expected to lead the global computer assisted coding in 2017. Factors driving the growth of this segment include increasing demand for systems owing to error-free clinical documentation and growing advancement in the technology coupled with growth in coder productivity such as the implementation of ICD-10 in place of ICD-9.

Hospitals are estimated to command the largest share of the market during the forecast period

Based on end user, the computer assisted coding market is categorized into hospitals, academic & research laboratories, physician practices, academic medical centers, other healthcare providers and healthcare players. The hospital segment is estimated to account for the largest share of the global computer assisted coding market during the forecast period. The rising growth rate of the hospitals, high-cost affordability for the implementation of such systems and availability of adequate staff with proper training required for understanding the technology are the key factors driving the growth of this end-user segment.

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North America is estimated to command the largest share of the market

Based on the region, the computer assisted coding market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to dominate the computer assisted coding market in 2018. This is attributed to factors such as increasing implementation of CAC solutions in the region due to ICD-10 coder having a higher number of medical codes, rising government support for better healthcare infrastructure and growing demand for advancements in the healthcare sector at a lower cost.

Major Key Players mentioned in this Premium Report

The report profiles some of the key companies in the computer assisted coding market including Craneware PLC., Precyse Solutions, LLC (Nthrive, Inc.), 3M Company, EPIC Systems Corporation, Optum, Inc., Quest Diagnostics Incorporated, Nuance Communications, Inc., M*Modal IP LLC, Cerner Corporation, Trucode, Mckesson Corporation, Streamline Health Solutions, Inc., Dolbey Systems, Inc., Athenahealth, Inc. and Artificial Medical Intelligence, Inc.