The healthcare reimbursement market consists of sales of healthcare reimbursement services by entities (organizations, sole traders and partnerships) that provide healthcare reimbursement services, which include the payment that hospitals, diagnostic facilities, doctors, or other health care providers receive for providing medical service to people. The healthcare reimbursement for a person`s health care expenses is mostly covered partially or fully by the government or a health insurer. Only goods and services traded between entities or sold to end consumers are included.
The global healthcare reimbursement market is expected to grow from $9.48 billion in 2019 to $15.20 billion in 2020 at a compound annual growth rate (CAGR) of 60.33%. The exponential growth is mainly due to the COVID-19 outbreak that has led to deferred care to avoid visiting hospitals. The market is then expected to adjust and reach $17.29 billion in 2023 from 2021 at a CAGR of 4.4%.