The Global Patient-Centered Medical Home Market, by Type (Health Detection, Care Service), by End User (Nursing Home, Home Care Settings, Others), and by Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America) was valued at US$ 15,790.0 Million in 2022 and is projected to exhibit a CAGR of 15.6% during the forecast period (2022-2030).
The market expansion for patient-centered medical homes was mostly due to a growing ageing population worldwide, combined with an increase in chronic conditions. The American Diabetes Association estimated that 1.5 million new diabetic patients were diagnosed in the U.S. in the year 2020. As a result, key players are collaborating to create patient-centered, linked healthcare.
Global patient-centered medical home market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has affected various industries globally. The players operating in the global patient-centered medical home market are facing major challenges on various fronts due to the COVID-19 pandemic. COVID-19 affects the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. The manufacturers across North America, Europe, Asia Pacific, Latin America and Middle East and Africa were facing problems due to changing preferences of the customers and demand fluctuation. However, the global patient centered medical home market is projected to gradually recover post-COVID-19, which would present attractive opportunities for sales across various regions of the world in the forecast period.
Browse 26 Market Data Tables and 24 Figures spread through 135 Pages and in-depth TOC on “global patient-centered medical home market”- Forecast to 2030, global patient-centered medical home market, by Type (Health Detection, Care Service), by End User (Nursing Home, Home Care Settings, Others), and by Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America) - Forecast to 2030
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Key players operating in market are focusing on digitalizing patient’s medical records which is expected to propel growth of the global patient-centered medical home market over the forecast period. For instance, in December 2020, F. Hoffmann-La Roche AG launched a digital platform to personalize diabetes management. Roche Diabetes Care's digital platform gathers and retains all patient-related health data while also allowing patients and healthcare providers to communicate more easily. In addition, programmes like these help with cost analysis, operations, and other similar tasks.
Key Takeaways of the global patient-centered medical home market:
- Global patient-centered medical home market is expected to exhibit a CAGR of 15.6% during the forecast period, owing to the increasing aging population and new product launches. For instance, According to a survey from LongTermCare.gov (a range of services and supports for health or personal needs over a long period of time), in 2019, adults over 65 years of age have a nearly 70% health risk and are in need for long-term care.
- Among End User, Nursing homes segment drives the market growth, owing to the increasing number of aging population. More than 80% of people require assistance with at least three activities of daily living (ADLs), such as clothing or bathing, according to a 2019 report published in Healthin. 90% of people who are able to walk require assistance or supervision. In 2019, there were 1,246,079 nursing home residents in the U.S., according to the Kaiser Family Foundation.
- Major players operating in the global patient-centered medical home market are Aetna, AmeriHealth, Lynn Community Health Center, CHAS Health, Cigna, Siemens Healthcare GmbH, NextGen Healthcare, Athena Healthcare, NextStep Solutions, and Genpact Limited
