Patient Access Solutions Market worth $2.4 billion by 2025

Increasing patient volume and subsequent growth in the demand for health insurance, the growing importance of denials management, declining reimbursement rates, increase in the volume of unstructured data in the healthcare industry, and the rising need to curtail escalating healthcare costs are the major factors driving the growth of this market. However, high deployment costs are expected to restrain the growth of this market to a certain extent.

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Patient Access Solutions Market

The global patient access solutions market is projected to reach USD 2.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 8.5%.

This study analyzes the Patient access solutions market based on their product & service type, delivery mode type, and end-user.

Services segment to have the largest share in 2019

Based on product and service, the patient access solutions market is segmented into services and software. The services segment accounted for the largest share of the global patient access solutions market in 2019. The introduction of complex software and the need for system integration are expected to boost the services market in the coming years..

The web & cloud based solution segment accounted for the largest market share in 2019

Based on delivery mode, the patient access solutions market is segmented into web and cloud-based solutions and on-premise solutions. In 2019, the web and cloud-based solutions segment accounted for the largest share of the global patient access solutions market. The flexibility of working from remote areas, affordability, and automated updating features are some of the key advantages associated with web and cloud-based solutions.

Healthcare Providers was the largest end-user for Patient access solutions market in 2019

Based on end users, the patient access solutions market is segmented into healthcare providers, HCIT outsourcing companies, and other end users. In 2019, the healthcare providers segment accounted for the largest share of the global patient access solutions market. Growing HCIT adoption, significant growth in healthcare spending, increasing healthcare costs, and declining reimbursement rates are the major factors supporting the adoption of patient access solutions among healthcare providers.

Some of the prominent players in this market are McKesson Corporation (US), 3M (US), Cerner Corporation (US), Cognizant (US), Conifer Health Solutions (US), and Epic Systems Corporation (US).

McKesson

McKesson dominated the global patient access solutions market in 2019. McKesson operates through two business segments, which cater to the markets in developed as well as developing countries. The company focuses on strategies such as collaborations, agreements, and partnerships to maintain its market presence. McKesson has a significant global footprint in the US, Canada, Australia, Ireland, New Zealand, and Israel, owing to its strong sales and distribution network. The agreement with Change Healthcare to create a new healthcare information technology company by merging a majority of its McKesson Technology Solutions (MTS) business segment with substantially all of Change Healthcare’s business helped it to strengthen its position in this market.

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