GLOBAL PATIENT ACCESS SOLUTION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global patient access solution market is estimated to be valued at USD 2.18 Bn in 2024 and is expected to reach USD 3.79 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
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The patient access solution market is expected to witness significant growth during the forecast period. This can be attributed to a rise in healthcare costs and demand for optimizing revenue cycle management. Additionally, the implementation of favorable government initiatives for enhancing patient access to healthcare insurances has also boosted the adoption of patient access solutions. Growing geriatric population susceptible to chronic diseases and the subsequent need for medical cost optimization is further expected to propel the market expansion through 2031. However, high implementation costs associated with these solutions might hinder the market growth.
Increasing Organic Growth Strategies by Key Market Players
Increasing adoption of organic growth strategies such as service launches by key market players is expected to drive the market growth over the forecast period. For instance, in July, 2023, Inizio Engage, a health technology company, announced the launch of patient access services. This custom-built, integrated suite of patient support services has been developed to enhance the overall patient experience while encouraging adherence and improving health outcomes in specialty or rare and orphan diseases. This service helps patient care partners and healthcare professionals (HCPs) and their staff navigate the inherent complexities encountered during what is often a long journey to diagnosis.
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Increasing Collaborations among Key Market PlayersIncreasing adoption of inorganic growth strategies such as collaborations among key market players is expected to drive the market growth over the forecast period. For instance, on February 26, 2024, Health Gorilla, a Qualified Health Information Network (QHIN) and interoperability solution provider, announced a new collaboration with Unblock Health, a master key of patient access solutions, to enhance patient data access through the Trusted Exchange Framework and Common Agreement (TEFCA). The collaboration helps the patients can seamlessly and securely access their data from a vast network of participating hospitals and clinics.
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Market Challenges – Unfavorable Reimbursement PoliciesUnfavorable reimbursement policies across different regions are posing significant challenges for the growth of the global patient access solution market. Stringent reimbursement criteria and complex regulatory guidelines related to reimbursement are making it difficult for healthcare providers to get full or partial reimbursement for their services and solutions. This ultimately impacts the adoption of modern patient access solutions which require significant upfront investments.
Market Opportunities – Increased Adoption of Telehealth and Remote Patient Monitoring
Increased adoption of digital health technologies presents a great opportunity for preventive healthcare globally. As people become more tech-savvy and connected, digital tools that make health monitoring and consultation more convenient are seeing wider acceptance. Technologies like remote patient monitoring devices, health apps on mobile phones, and telemedicine services allow patients to engage with healthcare providers without the need for in-person visits. This is beneficial especially during times of crisis like the current pandemic.
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Insights, By Type: Increasing Software Launches by key Market PlayersThe type segment includes software and services. The software sub-segment is estimated to hold 59.3% of the market share in 2024, owing to software launches by key market players. For instance, in December 2022, Pfizer, Inc., a healthcare company, announced that it had launched Pfizer PAP India’—a mobile application designed to ease and fast track enrolment to Pfizer's Patient Access Programs (PAP). At present, Pfizer runs over 10 programs supporting patients with Pfizer treatments.
Insights, By Delivery Mode: Remote Access Boosts Web and Cloud
The delivery mode segment includes web and cloud-based solutions and on-premise solutions. The web and cloud-based sub-segment is estimated to hold 69.4% of the market share in 2024 owing to the accessibility they provide. Cloud platforms allow all stakeholders, from patients to physicians to insurance agencies, to securely access relevant health information from any internet-connected device. This unlimited access empowers consumers to take a more proactive role in their healthcare outside of conventional clinical settings. Users can log vitals, book telehealth visits, message doctors, and view test results using only a smartphone or computer from the comfort of home.
Insights, By End User: Healthcare Providers Propel Global Patient Access Landscape
The end user segment includes healthcare providers, healthcare BPO service providers, and others. The healthcare providers sub-segment is estimated to hold 44.9% of the market share in 2024 owing to pressing needs for streamlined revenue cycle management. Revenue uncertainties from policy changes, rising claim denials, falling reimbursements, and aging populations place provider profitability under constant stress. Patient access solutions empower providers to focus on core clinical services by taking over administrative overhead linked to insurance verification, eligibility checks, document compilation and back-office coding. Automated workflow and pre-authorization functionalities boost first-pass resolution for authorizations and simplify exceptions. Centralized patient engagement portals also enhance the care experience through digital registration and billing.
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North America remains the dominant region in the global patient access solution market and is estimated to hold 34.9% of the market share in 2024 due to the region's well-established healthcare infrastructure and early adoption of technological advancements across the healthcare sector. With the presence of leading solution providers and several large hospitals deploying these solutions, North America accounts for the largest share of the market.
Asia Pacific region, on the other hand, is poised to be the fastest growing market for patient access solutions over the coming years. Rapid industrialization and economic development in countries like China and India have significantly increased healthcare spending in the region. At the same time, growing awareness about benefits of digitization is propelling more hospitals to invest in patient access technologies. Presence of medical tourism destinations coupled with large patient volumes have made solutions like pre-registration and online payments more relevant for Asia Pacific hospitals. Local players are also introducing affordable solutions tailored for mid-sized hospitals common in many APAC countries. This is helping solve issues related to long queues and documentation faced in understaffed facilities. The need for modernization and growing healthcare expenditure will continue driving the demand for patient access solutions at a strong pace in Asia Pacific.
Global Patient Access Solution Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 2.18 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 8.2% | 2031 Value Projection: | US$ 3.79 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Allscripts Healthcare Solutions, Inc., Cognizant Technology Solutions Corporation, McKesson Corporation, Epic Systems Corporation, Oracle Corporation, Innovaccer Inc., Cognizant Technology Solutions Corporation, Crener Corporation, Conifer Health Solutions, Optum, Inc., Genentech, Inc., Cirius Group, Inc., The SSI Group, Experian plc, Athenahealth, Inc., Edward Lifesciences Corporation, and Getinge AB |
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| Restraints & Challenges: |
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*Definition: Patient access solution consists of software and services that help healthcare providers and payers streamline processes related to insurance verification, eligibility checks, medical necessity determinations, referrals, prior authorizations, and claims management. These patient access solutions help facilitate the flow of communication and information exchange between patients, providers, and payers to help patients receive the care they need in a timely and affordable manner.
Global Patient Access Solution Market Report Snapshots
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