GLOBAL PATIENT ACCESS SOLUTION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Patient Access Solution Market Size and Trends

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 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.