The Latin America, Middle East and Africa Medical Coding Market would witness market growth of 11.8% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Medical Coding Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $987.3 Million by 2031. The Argentina market is registering a CAGR of 12.7% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 10.9% during (2024 - 2031).
Medical coding can be traced back to the early 20th century when the International Classification of Diseases (ICD) was first instituted. Initially developed as a tool for tracking mortality statistics, the ICD has since evolved into a comprehensive coding system covering various medical conditions, procedures, and treatments.
Additionally, these coding systems are continuously updated to reflect advances in medical science, technology, and healthcare practices, ensuring they remain relevant and accurate in an ever-changing healthcare landscape.
Governments throughout the region are making substantial investments in digital health technologies and healthcare infrastructure, which has resulted in a greater demand for medical coding practices that are both precise and consistent. In Saudi Arabia, the increasing demand for medical coding is primarily driven by significant healthcare expenditure and comprehensive government initiatives to modernize the healthcare sector. According to the Saudi Ministry of Health, the government allocated SAR 167 billion (approximately USD 44.5 billion) to healthcare and social development in 2021.
Based on Component, the market is segmented into Outsourced, and In-house. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The Brazil market dominated the LAMEA Medical Coding Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $987.3 Million by 2031. The Argentina market is registering a CAGR of 12.7% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 10.9% during (2024 - 2031).
Medical coding can be traced back to the early 20th century when the International Classification of Diseases (ICD) was first instituted. Initially developed as a tool for tracking mortality statistics, the ICD has since evolved into a comprehensive coding system covering various medical conditions, procedures, and treatments.
Additionally, these coding systems are continuously updated to reflect advances in medical science, technology, and healthcare practices, ensuring they remain relevant and accurate in an ever-changing healthcare landscape.
Governments throughout the region are making substantial investments in digital health technologies and healthcare infrastructure, which has resulted in a greater demand for medical coding practices that are both precise and consistent. In Saudi Arabia, the increasing demand for medical coding is primarily driven by significant healthcare expenditure and comprehensive government initiatives to modernize the healthcare sector. According to the Saudi Ministry of Health, the government allocated SAR 167 billion (approximately USD 44.5 billion) to healthcare and social development in 2021.
Based on Component, the market is segmented into Outsourced, and In-house. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
- 3M Company
- Dolbey Systems, Inc.
- GeBBS Healthcare Solutions, Inc.
- Precyse Coding Solutions LLC
- Microsoft Corporation
- Change Healthcare, Inc. (Optum, Inc.) (UnitedHealth Group, Inc.)
- Oracle Corporation
- The Coding Network, L.L.C.
Market Report Segmentation
By Component- Outsourced
- In-house
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Medical Coding Market by Component
Chapter 6. LAMEA Medical Coding Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- 3M Company
- Dolbey Systems, Inc.
- GeBBS Healthcare Solutions, Inc.
- Precyse Coding Solutions LLC
- Microsoft Corporation
- Change Healthcare, Inc. (Optum, Inc.) (UnitedHealth Group, Inc.)
- Oracle Corporation
- The Coding Network, L.L.C.
Methodology
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