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 IMARC Group, a leading market research company, has recently releases report titled “ Medical Coding Market Report by Component (In-house, Outsourced), Classification System (International Classification of Diseases (ICD), Healthcare Common Procedure Code System (HCPCS)), End User (Hospitals, Diagnostic Centers, and Others), and Region 2024-2032 ”, Offers a comprehensive analysis of the industry, which comprises insights on the global medical coding market . How Big Is the Medical Coding Market? The global medical coding market size reached US$ 21.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 49.8 Billion by 2032 exhibiting a growth rate (CAGR) of 9.8% during 2024-2032. Factors Affecting the Growth of the Medical Coding Industry: Technological Advancements: Technological advancements significantly propel the medical coding market. The adoption of Electronic Health Records (EHR) and Health Information Technology (HIT) systems enhances the accuracy ...

 According to the latest report by IMARC Group, titled " Global Medical Coding Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027 ", the global medical coding market reached a value of US$ 17.05 Billion in 2021, is expected to reach a value of US$ 32.25 Billion by 2027 exhibiting a CAGR of 10.60% during 2022-2027 . Medical coding is the method of converting healthcare diagnosis, procedures, equipment, and medical services into comprehensive alphanumeric codes. It involves abstracting the information from documentation, assigning the relevant codes, and formulating claims to be paid by the insurance companies. Medical coding helps to analyze disease patterns among patients and provides data on national health trends, thereby allowing the federal and state government bodies to plan for suitable resources that are effective in fighting the prevalent ailments. It also aids in launching initiatives for treating and preventing the affected population. ...