The global value-based healthcare service market is poised for significant growth, with anticipated revenues reaching approximately USD 3,281.2 million in 2024, as reported by recent industry analyses. This growth is primarily fueled by a substantial shift towards value-based care models, positioning the market for a robust compound annual growth rate (CAGR) of 6.5% throughout the forecast period.
This surge in market value highlights 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, reflecting a strong and ongoing commitment to enhancing patient care and satisfaction.
Patients are gravitating towards value-based healthcare models due to their ability to minimize the need for frequent doctor visits, resulting in lower overall treatment costs. The integration of digital technologies further propels advancements in healthcare, expanding the scope and accessibility of value-driven healthcare services.
However, despite this promising growth, service providers encounter challenges, including 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 address these challenges through innovative solutions and strategic partnerships, fostering continued growth in the value-based healthcare service sector.
As we move forward, the industry is dedicated to creating a healthcare landscape that prioritizes value, ultimately benefiting patients and providers alike. With a focus on enhancing care quality and patient satisfaction, the value-based healthcare service market is on a transformative journey that promises to reshape the future of healthcare.
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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