The global value-based healthcare service market is on an upward trajectory, achieving revenues of approximately USD 3,281.2 million in 2024, according to recent industry reports. This significant growth, driven by the increasing adoption of value-based care models worldwide, highlights a forecasted growth rate of 6.5% throughout the forecast period.
Analysts project that by 2034, the market is poised to generate substantial revenues totaling USD 6,184.2 million, underscoring the escalating recognition and adoption of value-based care approaches globally.
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The surge in demand for value-based healthcare services is propelled by a strong consumer preference for enhanced patient care and heightened customer satisfaction. The recent pandemic has further underscored the importance of value-based delivery models and heightened awareness of trends in pay-for-performance healthcare.
Patients are increasingly embracing value-based healthcare models due to their ability to reduce the necessity for scheduled doctor visits, thus lowering overall treatment costs. The integration of digital technologies has also driven advancements in healthcare, expanding the scope and accessibility of value-driven healthcare services.
However, service providers face significant challenges, including the management of diverse patient-level variables within electronic health records (EHRs) and the complexity of reconciling multiple reimbursement and payment mechanisms.
As the market continues to evolve, stakeholders are expected to navigate these challenges through innovative solutions and strategic partnerships, fostering further growth and development in the value-based healthcare service sector.
Key Takeaways from the Value-based Healthcare Service Market Study Report:
- The United States has the headquarters of many IT companies involved in value-based healthcare services, expanding at a CAGR of 1.3% through 2034.
- Regional markets in Germany and the United Kingdom both have acquired the top position in Europe with an estimated CAGR of 3%.
- China is on the verge of witnessing a lucrative CAGR of 2.3% in the adoption of value-based healthcare services over the projected years.
- South Korea is an emerging market for value-based healthcare service providers with a projected CAGR of 1.8% from 2024 to 2034.
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Competitive Landscape for the Value-based Healthcare Service Market Players
By enhancing the network connection reliability, private healthcare institutes providing value-based services are focused on transforming the present medicinal care. Along with this, collaborations are going on between regional governments and healthcare companies have increased the market competition.
“Hospitals are the primary end users of the value-driven healthcare services market owing to a higher percentage of patient footfall. As emerging nations are now focusing much on enhancing their healthcare infrastructure, the count of value-based healthcare service providers is increasing rapidly,” says a lead analyst at FMI.
Recent Developments by Value-based Healthcare Service Industry Participants:
- In November 2021, the Global Surgery Foundation and UNITAR launched their new Value-based Healthcare (VBHC) Hub. The project’s goal is to support locally-led initiatives that promote and advance the implementation of VBHC models in low-income and resource-constrained settings. It is assisted by Takeda is led by frontline implementers and developed in close collaboration with the Ministry of Health.
- In September 2023, CommonSpirit Health unveiled a value-based care platform to promote and disseminate best practices acquired from the Catholic organization’s 24-state network. Known as Population Health Services Organization (PHSO), this platform offers a variety of services, including population health analytics, network management, data management, technology infrastructure, and reporting.
Key Companies Profiled:
- Siemens Healthcare GmbH
- NextStep Solutions
- McKesson Corporation
- NextGen Healthcare
- Genpact Limited
- Athena Healthcare
- Boston Consulting Group
- Change Healthcare
- Baker Tilly, USA, LLC
- ForeSee Medical
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Key Segments Covered in the Value-based Healthcare Service Industry Survey Report:
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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