Patient Access Solutions Market Worth $ 2.4 Billion : Rising Need To Curtail Healthcare Costs
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- Expected Revenue Growth.
- Major Growth Drivers.
According to the new market research report ”Patient Access Solutions Market by product & service (Training services, Eligibility Verification, Medical Necessity, Pre-certification), Delivery Mode (Web & Cloud, On premise), End-User (Providers, HCIT Outsourcing Companies) – Global Forecast to 2025“,published by MarketsandMarkets™, global patient access solutions market is projected to reach USD 2.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 8.5%.
Expected Revenue Growth:
[207 Pages Report] The global patient access solutions market is projected to reach USD 2.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 8.5%
Major Growth Drivers:
Increasing patient volume and subsequent growth in the demand for health insurance, the growing importance of denials management, declining reimbursement rates, increase in the volume of unstructured data in the healthcare industry, and the rising need to curtail escalating healthcare costs are the major factors driving the growth of this market. However, high deployment costs are expected to restrain the growth of this market to a certain extent.
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COVID-19 Impact on the Patient access solutions Market
Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. The pandemic has had considerable social and economic ramifications across a variety of industries and sectors. As of 28 October 2020, there have been 44,235,263 reported cases of COVID-19 (Source: Worldometer) from Africa, Asia Pacific, the Americas, Europe, and Oceania.
The web & cloud-based solution segment accounted for the largest market share in 2019
Based on delivery mode, the patient access solutions market is segmented into web and cloud-based solutions and on-premise solutions. In 2019, the web and cloud-based solutions segment accounted for the largest share of the global patient access solutions market. The flexibility of working from remote areas, affordability, and automated updating features are some of the key advantages associated with web and cloud-based solutions.
APAC market to witness the highest growth during the forecast period
The Asia Pacific market is comparatively new to patient access solutions; however, this region is expected to register the highest growth in the coming years. Countries such as Japan, Australia, New Zealand, South Korea, and Singapore are expected to provide significant growth opportunities for vendors of patient access solutions.
Key Market Players
The market is dominated by a few globally established players such as McKesson (US), Cerner (US), Optum (US), 3M (US) and Experian Plc (Ireland)
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