The global value-based healthcare service market is set for remarkable expansion, with anticipated revenues reaching approximately USD 3,281.2 million in 2024, according to recent industry reports. This growth trajectory is driven by a substantial shift towards value-based care models, with the market expected to grow at a compound annual growth rate (CAGR) of 6.5% throughout the forecast period.
The surge in market value reflects the increasing global recognition and adoption of value-based care approaches. Analysts predict that by 2034, the market will generate substantial revenues of USD 6,184.2 million, underscoring a robust and ongoing commitment to enhancing patient care and satisfaction.
Patients are increasingly turning to value-based healthcare models for their ability to reduce the need for frequent doctor visits, thus lowering overall treatment costs. Additionally, the integration of digital technologies is driving advancements in healthcare, broadening the scope and accessibility of value-driven healthcare services.
Despite the growth, service providers face challenges such as managing diverse patient-level variables within electronic health records (EHRs) and navigating complex reimbursement and payment mechanisms. As the market evolves, stakeholders are expected to overcome these challenges through innovative solutions and strategic partnerships, fostering further growth in the value-based healthcare service sector.
Key Insights from the Market Study:
- United States: Home to numerous IT companies involved in value-based healthcare services, with an anticipated CAGR of 1.3% through 2034.
- Europe: Germany and the United Kingdom lead the European market with a projected CAGR of 3%.
- China: Expected to experience a lucrative CAGR of 2.3% in value-based healthcare services over the forecast period.
- South Korea: Emerging as a significant market with a projected CAGR of 1.8% from 2024 to 2034.
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Competitive Landscape:
Private healthcare institutions are enhancing network reliability and transforming medicinal care through value-based services. Increased collaborations between regional governments and healthcare companies have intensified market competition. “Hospitals are the primary end-users of value-driven healthcare services due to higher patient footfall. With emerging nations focusing on enhancing healthcare infrastructure, the number of value-based healthcare service providers is rapidly increasing,” says a lead analyst at FMI.
Recent Developments:
- In November 2021, the Global Surgery Foundation and UNITAR launched the Value-based Healthcare (VBHC) Hub, supported by Takeda and developed in collaboration with the Ministry of Health, to advance VBHC models in low-income and resource-constrained settings.
- In September 2023, CommonSpirit Health introduced the Population Health Services Organization (PHSO), a value-based care platform offering a range of services including population health analytics, network management, and data management.
Key Companies:
- Siemens Healthcare GmbH
- NextStep Solutions
- McKesson Corporation
- NextGen Healthcare
- Genpact Limited
- Athena Healthcare
- Boston Consulting Group
- Change Healthcare
- Baker Tilly, USA, LLC
- ForeSee Medical
Market Segmentation:
- By Product Type: Accountable Care Organization (ACO), Patient-centered Medical Home (PCMH), Pay For Performance (P4P), Bundled Payments
- By Deployment Type: On-premise, Cloud
- By End User Verticals: Hospitals, Clinics, Insurance Companies, Government, Others
- By Region: North America, Latin America, Europe, East Asia, South Asia and Pacific, Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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