ALBANY, New York, November 28, 2016 /PRNewswire/ -- The field of Core Administration Solutions for the Healthcare Industry is highly fragmented owing to the presence of a large number of established players offering hardware, software, and services, says Transparency Market Research in a recent report. Considering the vast growth opportunities in developing regions such as India, Brazil, and China, players are focusing on diversification opportunities across these countries through mergers, acquisitions, and consolidation practices. To encash the vast growth opportunities in the core administration segment in the healthcare industry, owing to various government norms like Obamacare or Affordable Care Act (ACA), competitors are also focusing on extensive product development to offer differentiated services. According to Transparency Market Research, the global technology spending on core administration in healthcare market sector will exhibit a 5.7% CAGR over the period between 2016 and 2024, rising from US$25,900 mn in 2015 to US$42,317 mn by 2024. DownloadExclusive SampleCopyof thisReport:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=16961 Of the key end users of core administration solutions in the healthcare industry, the payers segment accounted for over 88% of the overall market in 2015 and is expected to remain the key driver of technology spending on core administration in the healthcare industry throughout the forecast period. Geographically, North America dominated, accounted for over 50% of the overall funds spent on enabling technologically advanced core administration solutions in the healthcare industry in 2015. The trend is expected to remain strong over the forecast period as well. Rising Demand for Value-based Reimbursement Modules to Drive adoption of IT Solutions in Healthcare Rising convergence of a variety of digital platforms for managing and processing the ever-expanding healthcare data, continuously changing healthcare reimbursement reforms and regulations, and digitally empowered consumers are collectively making the healthcare administration space increasingly complex. While at one point cost competition is at the peak in the healthcare industry, payers (insurance agencies) are pressing healthcare providers to switch from a volume-based (payment for service) to a value-based reimbursement module (payment for value).