Global Medical Coding Market Size, Share & Trends Analysis Report By Component (Outsourced, and In-house), By Regional Outlook and Forecast, 2024

List of Tables

The Global Medical Coding Market size is expected to reach $49.8 billion by 2031, rising at a market growth of 9.2% CAGR during the forecast period.

The dominance of the North America region is largely attributed to the region's advanced healthcare infrastructure, extensive adoption of electronic health records (EHRs), and stringent regulatory requirements for medical coding and billing practices. Thus, the North America segment acquired 51% revenue share in the medical coding market in 2023. Additionally, the presence of many healthcare providers and insurance companies, coupled with significant investments in healthcare IT solutions, has bolstered the demand for medical coding services in this region.

Medical coding, which involves translating medical diagnoses, procedures, and treatments into standardized codes, is crucial for these functions. In 2021, global healthcare spending reached approximately $9.8 trillion, accounting for 10.3% of the global GDP. This figure marked a significant increase from previous years, reflecting the heightened spending due to the COVID-19 pandemic and the associated need for enhanced healthcare services.

Additionally, as more patients seek treatment abroad, the need for efficient and reliable medical coding services has intensified. Thus, the rising trend of medical tourism has significantly increased the demand for standardized medical coding to handle the complexities of cross-border healthcare.

However, for healthcare organizations, restoring trust after a data breach is challenging and often costly, involving technical remediation, public relations efforts, and potentially long-term reputational damage. Thus, data security and privacy concerns are among the most significant challenges facing the medical coding industry today.

Component Outlook

Based on component, the market is bifurcated into outsourced and in-house. The outsourced segment garnered 64% revenue share in the market in 2023. The driving factors behind the segment's growth include the increasing need for cost reduction and operational efficiency among healthcare providers, particularly in developed countries.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment recorded 26% revenue share in the market in 2023. Countries like India and the Philippines have become major hubs for outsourced medical coding services, driven by their large, skilled, English-speaking workforce and lower labor costs.

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.

Global Medical Coding Market Report Segmentation

By Component

Outsourced
In-house

By Geography

North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA

Chapter 1. Market Scope & Methodology

1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
- 1.4.1 Global Medical Coding Market, by Component
- 1.4.2 Global Medical Coding Market, by Geography
1.5 Methodology for the research

Chapter 2. Market at a Glance

2.1 Key Highlights

Chapter 3. Market Overview

3.1 Introduction
- 3.1.1 Overview
  - 3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges

Chapter 4. Competition Analysis - Global

4.1 Market Share Analysis, 2023
4.2 Porter Five Forces Analysis

Chapter 5. Global Medical Coding Market by Component

5.1 Global Outsourced Market by Region
5.2 Global In-house Market by Region

Chapter 6. Global Medical Coding Market by Region

6.1 North America Medical Coding Market
- 6.1.1 North America Medical Coding Market by Component
  - 6.1.1.1 North America Outsourced Market by Country
  - 6.1.1.2 North America In-house Market by Country
- 6.1.2 North America Medical Coding Market by Country
  - 6.1.2.1 US Medical Coding Market
    - 6.1.2.1.1 US Medical Coding Market by Component
  - 6.1.2.2 Canada Medical Coding Market
    - 6.1.2.2.1 Canada Medical Coding Market by Component
  - 6.1.2.3 Mexico Medical Coding Market
    - 6.1.2.3.1 Mexico Medical Coding Market by Component
  - 6.1.2.4 Rest of North America Medical Coding Market
    - 6.1.2.4.1 Rest of North America Medical Coding Market by Component
6.2 Europe Medical Coding Market
- 6.2.1 Europe Medical Coding Market by Component
  - 6.2.1.1 Europe Outsourced Market by Country
  - 6.2.1.2 Europe In-house Market by Country
- 6.2.2 Europe Medical Coding Market by Country
  - 6.2.2.1 Germany Medical Coding Market
    - 6.2.2.1.1 Germany Medical Coding Market by Component
  - 6.2.2.2 UK Medical Coding Market
    - 6.2.2.2.1 UK Medical Coding Market by Component
  - 6.2.2.3 France Medical Coding Market
    - 6.2.2.3.1 France Medical Coding Market by Component
  - 6.2.2.4 Russia Medical Coding Market
    - 6.2.2.4.1 Russia Medical Coding Market by Component
  - 6.2.2.5 Spain Medical Coding Market
    - 6.2.2.5.1 Spain Medical Coding Market by Component
  - 6.2.2.6 Italy Medical Coding Market
    - 6.2.2.6.1 Italy Medical Coding Market by Component
  - 6.2.2.7 Rest of Europe Medical Coding Market
    - 6.2.2.7.1 Rest of Europe Medical Coding Market by Component
6.3 Asia Pacific Medical Coding Market
- 6.3.1 Asia Pacific Medical Coding Market by Component
  - 6.3.1.1 Asia Pacific Outsourced Market by Country
  - 6.3.1.2 Asia Pacific In-house Market by Country
- 6.3.2 Asia Pacific Medical Coding Market by Country
  - 6.3.2.1 China Medical Coding Market
    - 6.3.2.1.1 China Medical Coding Market by Component
  - 6.3.2.2 Japan Medical Coding Market
    - 6.3.2.2.1 Japan Medical Coding Market by Component
  - 6.3.2.3 India Medical Coding Market
    - 6.3.2.3.1 India Medical Coding Market by Component
  - 6.3.2.4 South Korea Medical Coding Market
    - 6.3.2.4.1 South Korea Medical Coding Market by Component
  - 6.3.2.5 Australia Medical Coding Market
    - 6.3.2.5.1 Australia Medical Coding Market by Component
  - 6.3.2.6 Malaysia Medical Coding Market
    - 6.3.2.6.1 Malaysia Medical Coding Market by Component
  - 6.3.2.7 Rest of Asia Pacific Medical Coding Market
    - 6.3.2.7.1 Rest of Asia Pacific Medical Coding Market by Component
6.4 LAMEA Medical Coding Market
- 6.4.1 LAMEA Medical Coding Market by Component
  - 6.4.1.1 LAMEA Outsourced Market by Country
  - 6.4.1.2 LAMEA In-house Market by Country
- 6.4.2 LAMEA Medical Coding Market by Country
  - 6.4.2.1 Brazil Medical Coding Market
    - 6.4.2.1.1 Brazil Medical Coding Market by Component
  - 6.4.2.2 Argentina Medical Coding Market
    - 6.4.2.2.1 Argentina Medical Coding Market by Component
  - 6.4.2.3 UAE Medical Coding Market
    - 6.4.2.3.1 UAE Medical Coding Market by Component
  - 6.4.2.4 Saudi Arabia Medical Coding Market
    - 6.4.2.4.1 Saudi Arabia Medical Coding Market by Component
  - 6.4.2.5 South Africa Medical Coding Market
    - 6.4.2.5.1 South Africa Medical Coding Market by Component
  - 6.4.2.6 Nigeria Medical Coding Market
    - 6.4.2.6.1 Nigeria Medical Coding Market by Component
  - 6.4.2.7 Rest of LAMEA Medical Coding Market
    - 6.4.2.7.1 Rest of LAMEA Medical Coding Market by Component

Chapter 7. Company Profiles

7.1 Dolbey Systems, Inc.
- 7.1.1 Company Overview
- 7.1.2 Recent strategies and developments:
  - 7.1.2.1 Product Launches and Product Expansions:
- 7.1.3 SWOT Analysis
7.2 Microsoft Corporation
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expenses
- 7.2.5 Recent strategies and developments:
  - 7.2.5.1 Partnerships, Collaborations, and Agreements:
- 7.2.6 SWOT Analysis
7.3 Oracle Corporation
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expense
- 7.3.5 Recent strategies and developments:
  - 7.3.5.1 Product Launches and Product Expansions:
  - 7.3.5.2 Acquisition and Mergers:
- 7.3.6 SWOT Analysis
7.4 Change Healthcare, Inc. (Optum, Inc.) (UnitedHealth Group, Inc.)
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental Analysis
7.5 GeBBS Healthcare Solutions, Inc.
- 7.5.1 Company Overview
- 7.5.2 Recent strategies and developments:
  - 7.5.2.1 Acquisition and Mergers:
7.6 Precyse Coding Solutions LLC
- 7.6.1 Company Overview
7.7 The Coding Network, L.L.C.
- 7.7.1 Company Overview
7.8 3M Company
- 7.8.1 Company Overview
- 7.8.2 Financial Analysis
- 7.8.3 Segmental and Regional Analysis
- 7.8.4 Research & Development Expense
- 7.8.5 SWOT Analysis

Chapter 8. Winning Imperatives for Medical Coding Market

LIST OF TABLES

TABLE 1 Global Medical Coding Market, 2020 - 2023, USD Million
TABLE 2 Global Medical Coding Market, 2024 - 2031, USD Million
TABLE 3 Global Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 4 Global Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 5 Global Outsourced Market by Region, 2020 - 2023, USD Million
TABLE 6 Global Outsourced Market by Region, 2024 - 2031, USD Million
TABLE 7 Global In-house Market by Region, 2020 - 2023, USD Million
TABLE 8 Global In-house Market by Region, 2024 - 2031, USD Million
TABLE 9 Global Medical Coding Market by Region, 2020 - 2023, USD Million
TABLE 10 Global Medical Coding Market by Region, 2024 - 2031, USD Million
TABLE 11 North America Medical Coding Market, 2020 - 2023, USD Million
TABLE 12 North America Medical Coding Market, 2024 - 2031, USD Million
TABLE 13 North America Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 14 North America Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 15 North America Outsourced Market by Country, 2020 - 2023, USD Million
TABLE 16 North America Outsourced Market by Country, 2024 - 2031, USD Million
TABLE 17 North America In-house Market by Country, 2020 - 2023, USD Million
TABLE 18 North America In-house Market by Country, 2024 - 2031, USD Million
TABLE 19 North America Medical Coding Market by Country, 2020 - 2023, USD Million
TABLE 20 North America Medical Coding Market by Country, 2024 - 2031, USD Million
TABLE 21 US Medical Coding Market, 2020 - 2023, USD Million
TABLE 22 US Medical Coding Market, 2024 - 2031, USD Million
TABLE 23 US Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 24 US Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 25 Canada Medical Coding Market, 2020 - 2023, USD Million
TABLE 26 Canada Medical Coding Market, 2024 - 2031, USD Million
TABLE 27 Canada Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 28 Canada Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 29 Mexico Medical Coding Market, 2020 - 2023, USD Million
TABLE 30 Mexico Medical Coding Market, 2024 - 2031, USD Million
TABLE 31 Mexico Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 32 Mexico Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 33 Rest of North America Medical Coding Market, 2020 - 2023, USD Million
TABLE 34 Rest of North America Medical Coding Market, 2024 - 2031, USD Million
TABLE 35 Rest of North America Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 36 Rest of North America Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 37 Europe Medical Coding Market, 2020 - 2023, USD Million
TABLE 38 Europe Medical Coding Market, 2024 - 2031, USD Million
TABLE 39 Europe Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 40 Europe Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 41 Europe Outsourced Market by Country, 2020 - 2023, USD Million
TABLE 42 Europe Outsourced Market by Country, 2024 - 2031, USD Million
TABLE 43 Europe In-house Market by Country, 2020 - 2023, USD Million
TABLE 44 Europe In-house Market by Country, 2024 - 2031, USD Million
TABLE 45 Europe Medical Coding Market by Country, 2020 - 2023, USD Million
TABLE 46 Europe Medical Coding Market by Country, 2024 - 2031, USD Million
TABLE 47 Germany Medical Coding Market, 2020 - 2023, USD Million
TABLE 48 Germany Medical Coding Market, 2024 - 2031, USD Million
TABLE 49 Germany Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 50 Germany Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 51 UK Medical Coding Market, 2020 - 2023, USD Million
TABLE 52 UK Medical Coding Market, 2024 - 2031, USD Million
TABLE 53 UK Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 54 UK Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 55 France Medical Coding Market, 2020 - 2023, USD Million
TABLE 56 France Medical Coding Market, 2024 - 2031, USD Million
TABLE 57 France Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 58 France Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 59 Russia Medical Coding Market, 2020 - 2023, USD Million
TABLE 60 Russia Medical Coding Market, 2024 - 2031, USD Million
TABLE 61 Russia Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 62 Russia Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 63 Spain Medical Coding Market, 2020 - 2023, USD Million
TABLE 64 Spain Medical Coding Market, 2024 - 2031, USD Million
TABLE 65 Spain Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 66 Spain Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 67 Italy Medical Coding Market, 2020 - 2023, USD Million
TABLE 68 Italy Medical Coding Market, 2024 - 2031, USD Million
TABLE 69 Italy Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 70 Italy Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 71 Rest of Europe Medical Coding Market, 2020 - 2023, USD Million
TABLE 72 Rest of Europe Medical Coding Market, 2024 - 2031, USD Million
TABLE 73 Rest of Europe Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 74 Rest of Europe Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 75 Asia Pacific Medical Coding Market, 2020 - 2023, USD Million
TABLE 76 Asia Pacific Medical Coding Market, 2024 - 2031, USD Million
TABLE 77 Asia Pacific Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 78 Asia Pacific Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 79 Asia Pacific Outsourced Market by Country, 2020 - 2023, USD Million
TABLE 80 Asia Pacific Outsourced Market by Country, 2024 - 2031, USD Million
TABLE 81 Asia Pacific In-house Market by Country, 2020 - 2023, USD Million
TABLE 82 Asia Pacific In-house Market by Country, 2024 - 2031, USD Million
TABLE 83 Asia Pacific Medical Coding Market by Country, 2020 - 2023, USD Million
TABLE 84 Asia Pacific Medical Coding Market by Country, 2024 - 2031, USD Million
TABLE 85 China Medical Coding Market, 2020 - 2023, USD Million
TABLE 86 China Medical Coding Market, 2024 - 2031, USD Million
TABLE 87 China Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 88 China Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 89 Japan Medical Coding Market, 2020 - 2023, USD Million
TABLE 90 Japan Medical Coding Market, 2024 - 2031, USD Million
TABLE 91 Japan Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 92 Japan Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 93 India Medical Coding Market, 2020 - 2023, USD Million
TABLE 94 India Medical Coding Market, 2024 - 2031, USD Million
TABLE 95 India Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 96 India Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 97 South Korea Medical Coding Market, 2020 - 2023, USD Million
TABLE 98 South Korea Medical Coding Market, 2024 - 2031, USD Million
TABLE 99 South Korea Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 100 South Korea Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 101 Australia Medical Coding Market, 2020 - 2023, USD Million
TABLE 102 Australia Medical Coding Market, 2024 - 2031, USD Million
TABLE 103 Australia Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 104 Australia Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 105 Malaysia Medical Coding Market, 2020 - 2023, USD Million
TABLE 106 Malaysia Medical Coding Market, 2024 - 2031, USD Million
TABLE 107 Malaysia Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 108 Malaysia Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 109 Rest of Asia Pacific Medical Coding Market, 2020 - 2023, USD Million
TABLE 110 Rest of Asia Pacific Medical Coding Market, 2024 - 2031, USD Million
TABLE 111 Rest of Asia Pacific Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 112 Rest of Asia Pacific Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 113 LAMEA Medical Coding Market, 2020 - 2023, USD Million
TABLE 114 LAMEA Medical Coding Market, 2024 - 2031, USD Million
TABLE 115 LAMEA Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 116 LAMEA Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 117 LAMEA Outsourced Market by Country, 2020 - 2023, USD Million
TABLE 118 LAMEA Outsourced Market by Country, 2024 - 2031, USD Million
TABLE 119 LAMEA In-house Market by Country, 2020 - 2023, USD Million
TABLE 120 LAMEA In-house Market by Country, 2024 - 2031, USD Million
TABLE 121 LAMEA Medical Coding Market by Country, 2020 - 2023, USD Million
TABLE 122 LAMEA Medical Coding Market by Country, 2024 - 2031, USD Million
TABLE 123 Brazil Medical Coding Market, 2020 - 2023, USD Million
TABLE 124 Brazil Medical Coding Market, 2024 - 2031, USD Million
TABLE 125 Brazil Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 126 Brazil Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 127 Argentina Medical Coding Market, 2020 - 2023, USD Million
TABLE 128 Argentina Medical Coding Market, 2024 - 2031, USD Million
TABLE 129 Argentina Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 130 Argentina Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 131 UAE Medical Coding Market, 2020 - 2023, USD Million
TABLE 132 UAE Medical Coding Market, 2024 - 2031, USD Million
TABLE 133 UAE Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 134 UAE Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 135 Saudi Arabia Medical Coding Market, 2020 - 2023, USD Million
TABLE 136 Saudi Arabia Medical Coding Market, 2024 - 2031, USD Million
TABLE 137 Saudi Arabia Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 138 Saudi Arabia Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 139 South Africa Medical Coding Market, 2020 - 2023, USD Million
TABLE 140 South Africa Medical Coding Market, 2024 - 2031, USD Million
TABLE 141 South Africa Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 142 South Africa Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 143 Nigeria Medical Coding Market, 2020 - 2023, USD Million
TABLE 144 Nigeria Medical Coding Market, 2024 - 2031, USD Million
TABLE 145 Nigeria Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 146 Nigeria Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 147 Rest of LAMEA Medical Coding Market, 2020 - 2023, USD Million
TABLE 148 Rest of LAMEA Medical Coding Market, 2024 - 2031, USD Million
TABLE 149 Rest of LAMEA Medical Coding Market by Component, 2020 - 2023, USD Million
TABLE 150 Rest of LAMEA Medical Coding Market by Component, 2024 - 2031, USD Million
TABLE 151 Key Information - Dolbey Systems, Inc.
TABLE 152 Key Information - Microsoft Corporation
TABLE 153 Key Information - Oracle Corporation
TABLE 154 Key Information - Change Healthcare
TABLE 155 Key Information - GeBBS Healthcare Solutions, Inc.
TABLE 156 Key Information - Precyse Coding Solutions LLC
TABLE 157 Key Information - The Coding Network, L.L.C.
TABLE 158 Key Information - 3M Company

Global Medical Coding Market Size, Share & Trends Analysis Report By Component (Outsourced, and In-house), By Regional Outlook and Forecast, 2024 - 2031

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