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The Global Patient-Centered Medical Home Market Size is valued at USD 18.92 Billion in 2023 and is predicted to reach USD 59.51 Billion by the year 2031 at a 15.57 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- Opportunities arise for health information technology (HIT) innovations to support the PCMH model.
- This patient-centered approach is a significant driver in healthcare transformation.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- Resistance to change among healthcare professionals, including physicians and staff, can be a significant barrier.
Patient-Centered medical homes provide a broad spectrum of services, from wellness to chronic and emergency care. The purpose of PCMH is to strengthen the relationship between patients and medical staff. By increasing care coordination, hospital health practitioners are designed to enhance access to care. The patient-Centered medical home market is predicted to grow during the forecast period due to rising government expenditure on industrialization and transportation. Patient-Centered medical homes are expanding because they are intended to increase the effectiveness of care according to the patient's preferences. The patient-Centered medical home market also seeks to foster a close bond between sufferers, the medical specialist, and the surgical team, which is anticipated to increase sales of patient-Centered medical homes throughout the forecast year.
The slow use of patient-Centered medical homes in important emerging countries limits the expansion of the patient-Centered medical home industry. All healthcare system components, including home health care, hospitals, community services, and speciality care, are coordinated by patient-Centered medical homes. These variables will directly increase the market share for patient-Centered medical homes during the anticipated term. Growing patient-Centered medical home service acceptance in these nations is one of the significant factors fueling the market's expansion. In addition, the growing awareness of these services around the globe will boost market expansion in the years to come.
Competitive Landscape
Some major key players in the Global Patient-Centered Medical Home Market:
- Aetna,
- AmeriHealth,
- Lynn Community Health Center,
- CHAS Health,
- Cigna,
- Siemens Healthcare GmbH,
- NextGen Healthcare,
- Athena Healthcare,
- Next Step Solutions,
- Genpact Limited
- Other Market Players
Market Segmentation:
The patient-Centered medical home market is segmented based on type and end users. Based on type, the market is segmented as health detection and care service. By end users, the market is segmented into nursing homes, home care settings, and others.
Based On End Users, The Nursing Home Segment Is A Major Contributor To The Patient-Centered Medical Home Market.
The nursing home category is expected to hold a major share of the global patient-Centered medical home market. Due to an ageing population, the nursing homes segment is driving market expansion. Various factors and features influence demand in nursing homes and the long-term care industry. Individuals' perceptions of what options are valued have been significantly influenced by their health and functioning. In recent years, those looking for counselling services and mental health have given nursing homes a lot of attention.
The Care Services Segment Witnessed Growth At A Rapid Rate.
The care services segment is projected to proliferate in the global patient-Centered medical home market. Increasing comorbid illnesses and the deteriorating immune systems of the aged population are other factors driving the demand for care services. Because of recent technological breakthroughs, the market for care services will grow over the coming years. Home care services give clients nearly any type of assistance they need at home, assisting them in leading better lifestyles. These services allow elderly or geriatric persons to remain in their comfortable homes and prevent the trauma that a nursing home might bring, especially in countries such as the US, Germany, the UK, China, and India.
The North American Patient-Centered Medical Home Market Holds A Significant Regional Revenue Share.
The North American patient-Centered medical home market is expected to register the highest market share in revenue soon. The global market's high share of North America can be attributed to several factors, including the rising occurrences of chronic diseases, increased healthcare spending, high disposable income, the growing global geriatric population, and superior healthcare infrastructure. The major firms are using various techniques to keep and strengthen their market positions to increase revenue through their tactics. This is anticipated to drive the patient-Centered medical home market forward.
The Asia Pacific region holds a sizable portion of the global market. Due to its rapid growth and rising use of patient-Centered medical homes. The rising awareness, fast advancing healthcare system, and billions invested made in the region by some key companies in nations like China and India.
Recent Developments:
- In Nov 2022, Cigna collaborated with Heal, a provider of primary care services delivered in the patient's home. The agreement emphasized the industry's continuous emphasis on in-home and primary healthcare. Effective immediately, the organization has become an in-network provider for Cigna MA enrollees in Illinois, North Carolina, South Carolina, and Georgia.
Global Patient-Centered Medical Home Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 18.92 Billion |
|
Revenue Forecast In 2031 |
USD 59.51 Billion |
|
Growth Rate CAGR |
CAGR of 15.57% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Type, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Aetna, AmeriHealth, Lynn Community Health Center, CHAS Health, Cigna, Siemens Healthcare GmbH, NextGen Healthcare, Athena Healthcare, Next Step Solutions, and Genpact Limited |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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