What is the current size and annual growth rate of the artificial intelligence in medical coding market?
The artificial intelligence in medical coding market size has grown rapidly in recent years. It will grow from $2.74 billion in 2024 to $3.13 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to increasing healthcare data volume, coding accuracy and efficiency, stringent regulatory requirements, revenue cycle management optimization, integration with electronic health records (hers).
The artificial intelligence in medical coding market size is expected to see rapid growth in the next few years. It will grow to $5.29 billion in 2029 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to natural language processing (nlp) advancements, continuous changes in healthcare coding standards, telehealth expansion, ai-driven clinical documentation improvement (cdi), increasing demand for healthcare analytics. Major trends in the forecast period include healthcare industry digitization, automated coding assistance, coding quality improvement, interoperability with electronic health records, risk adjustment coding solutions.
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Which major factors have contributed to the expansion of the artificial intelligence in medical coding market?
The increasing demand for coding services is expected to propel the growth of the artificial intelligence in medical coding market going forward. The Coding services refer to the process of translating healthcare diagnoses, procedures, and medical services into universal medical alphanumeric codes. This is essential for accurate billing, insurance claim processing, and reimbursement. AI in medical coding enhances the efficiency, accuracy, and adaptability of coding services, ultimately benefiting healthcare organizations, medical coders, and patient care. For instance, in 2022, according to American Bureau of Labor Statistics, a US-based Government agency, employment for medical coders is increases about 8% in 2022. Therefore, the rise in the demand for coding services is driving the growth of the artificial intelligence in medical coding market.
How is the artificial intelligence in medical coding market segmented?
The artificial intelligence in medical coding market covered in this report is segmented –
1) By Component: In-House, Outsourced
2) By Technology: Machine Learning, Natural Language Processing (NLP), Generative AI
3) By End-User: Healthcare Providers, Medical Billing Companies, Payers
Subsegments:
1) By In-House: Internal Coding Teams, AI-Enhanced Coding Solutions, Integration With Existing Systems
2) By Outsourced: Third-Party Coding Services, AI-Powered Outsourcing Solutions, Vendor Management For Coding Services
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Who are the top competitors in the artificial intelligence in medical coding market?
Major companies operating in the artificial intelligence in medical coding market report are Pfizer Inc., Johnson & Johnson Services Inc., International Business Corporation, Medtronic PLC, Siemens Healthineers, Cerner Corporation, Fathom Inc., Nuance Communications Inc., M-Scribe Technologies LLC, Aidee Technologies LLC, Clinton IT Services Pvt. Ltd., BUDDI AI, Coda Metrix, Optum360 Solutions LLC, Diagnoss Inc., 3M Health Information Systems, Oncora Medical, Bio Symetrics, Dolbey Systems Inc., Streamline Health, Talix, Health Record Services Corporation, Saince Inc., Genesis Therapeutics, Epic Systems Corporation
Which key trends are expected to influence the artificial intelligence in medical coding market in the coming years?
Major companies operating in artificial intelligence in the medical coding market are developing innovative technology such as Natural Language Processing (NLP) to recognize the context within which words are used, allowing it to more accurately interpret patient conversations and capture the subtle nuances of a patient’s medical condition. Natural Language Processing (NLP) is a specialized branch of Artificial Intelligence (AI) that enables machines to understand and interpret human-generated spoken or written data. For instance, in March 2023, Liguamatics, a UK-based software company launched Healthcare Product Suite to turn unstructured electronic health record data into actionable patient insights. This suite leverages natural language processing (NLP) to extract valuable information from unstructured data sources such as EHRs, patient portals, and call center notes. The NLP Data Factory offered by Linguamatics provides scalable and automated NLP transformation for key applications, supporting a wide range of healthcare data. The Health Language Data Interoperability Solution by Wolters Kluwer also allows organizations to harmonize structured, semi-structured, and unstructured data from multiple sources in the healthcare domain.
Which regional trends are influencing the artificial intelligence in medical coding market, and which area dominates the industry?
North America was the largest region in the artificial intelligence in medical coding market in 2024. The regions covered in the artificial intelligence in medical coding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Artificial Intelligence In Medical Coding Market Report 2025 Offer?
The artificial intelligence in medical coding market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
AI in medical coding refers to the use of artificial intelligence and machine learning techniques to automate the coding process in the healthcare industry. Artificial intelligence (AI) in medical coding makes use of advanced software tools that evaluate patient data and provide precise medical codes.
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