The global Health Insurance Exchange IT market is valued at an estimated $1,609 million in 2013 and is expected to grow at a CAGR of 10.5% in the next five years. The health insurance exchange market shows a double-digit growth rate due to the PPACA reforms, federal funding, trend toward defined contribution model, and drive to reduce healthcare costs and make healthcare affordable. Apart from these parameters, other factors such as growing healthcare IT adoption, boosting healthcare information exchanges, and integration environments are indirectly supporting this market growth.
Complete report on Health Insurance Exchange IT Market spread across 174 pages, Profiling 10 Companies and Supported with 73 Tables and 14 Figures is now available at http://www.rnrmarketresearch.com/health-insurance-exchange-hix-it-market-by-type-public-private-exchanges-phase-implementation-qa-operations-component-services-software-hardware-end-user-government-agencies-tpas-market-report.html .
The health insurance exchange IT market shows a double-digit growth rate due to the PPACA reforms, federal funding, trend toward defined contribution model, and drive to reduce healthcare costs and make healthcare affordable. The U.S. shows the greatest market potential in the near future. However, countries such as Japan, China, India, and Philippines are expected to offer potential growth opportunities to HIX stakeholders.
2 Hcentive, Inc.: Rapidly Emerging Player
3 Contracts, Agreements, Partnerships & Alliances
4 New Product Launches & Developments
6 Mergers & Acquisitions
The health insurance exchange IT market, by component, is divided into services,software, and hardware. Based on enduser, the HIX IT market is segmented into government agencies, third party administrators (TPAs)/brokerage firms/consultancies, and health plans/payers. Based on geography, the market is classified into the U.S., Europe, Asia, and the Rest of the World (RoW).
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The global health insurance exchange IT market is significantly dominated by the U.S. carrying a share of over 95%.The U.S. is expected to continue to lead this market during the forecast period.The European market currently has a miniscule market share, growing at a lower rate mainly due to economic crisis, cultural barriers to IT adoption, and lack of initiatives for implementing HIXs. Currently, Asia and the Rest of the World donot have a measurable stake in this health insurance exchange IT market. However, increasing HCIT and HIE adoption, decent IT skills, and the increasingoutsourcing trend will generate revenue in terms of private exchanges in this market in the near future.
Key players in this market are
Accenture (Ireland), CGI Group, Inc. (Canada), Deloitte (U.S.), IBM Corporation (U.S.), Infosys (India), MAXIMUS (U.S.), Oracle Corporation (U.S.), and Xerox Corporation Ltd. (U.S.) and other emerging players such as Connecture (U.S.), Cognosante (U.S.), hCentive (U.S.), Hewlett-Packard (U.S.), Hexaware Technologies (India), Inovalon, Inc. (U.S.), KPMG (Netherlands), Microsoft Corporation (U.S.), Noridian Healthcare Solutions, LLC (U.S.), Tata Consultancy Services (TCS) (India), and Wipro Limited (India), among others.
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The competitive landscape covers the growth strategies adopted by industry players in the last three years. The company profiles comprise the basic views on the key players in the HIX market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future.
The above-mentioned health insurance exchange IT market research data, current market size, and forecast of future trends will help the key players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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