A healthcare navigation platform is a specialized system designed to simplify the complexities of the healthcare system, aiding individuals in making informed and cost-effective decisions regarding their healthcare needs. It guides users in understanding insurance plans, identifying in-network providers, estimating costs, and connecting with healthcare experts for support throughout their healthcare journey.
Sizing and Forecast
The healthcare navigation platform market size has grown rapidly in recent years. It will grow from $10.73 billion in 2023 to $11.98 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to growth in investments in digital healthcare, increased digitization of healthcare infrastructure, increased demand for advanced tests and point of care devices, government initiatives to encourage healthcare it usage, increased focus on remote healthcare delivery.
The healthcare navigation platform market size is expected to see rapid growth in the next few years. It will grow to $18.69 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to rise in adoption of ai technology, rising adoption of digital health solutions, increasing complexity of the healthcare system, increasing awareness of the importance of patient engagement, increasing demand for healthcare navigation platform. Major trends in the forecast period include product launch, adoption of electronic health records, adoption of cloud-based healthcare navigation platforms, investment in digital health technologies, advancements in artificial intelligence (ai) and machine learning (ml) technologies.
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Segmentation & Regional Insights
The healthcare navigation platform market covered in this report is segmented –
1) By Type: Cloud Based, On-Premises
2) By Application: Animal, People
3) By End User: Large Enterprises, Small And Medium Enterprises (SMEs)
North America was the largest region in the healthcare navigation platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare navigation platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increased focus on remote healthcare delivery is expected to propel the growth of the healthcare navigation platform market going forward. Remote healthcare delivery, also known as telehealth or telemedicine, refers to providing healthcare services to patients who are not physically present in the exact location of the healthcare provider. The increasing focus on remote healthcare delivery is driven by socioeconomic factors, evolving healthcare needs, and a broader shift towards more patient-centered, accessible, and efficient healthcare systems for improved health outcomes. Healthcare navigation platforms support remote healthcare delivery by enhancing accessibility, efficiency, personalization, and care coordination. It is a critical link between patients and healthcare providers, ensuring that remote healthcare services are delivered effectively and securely. For instance, in 2023, according to the Organisation for Economic Co-operation and Development (OECD), a France-based economic organization, teleconsultations doubled to 1.4 teleconsultations per patient per year as of 2021 with significant increases in Australia, Lithuania and Slovenia. Therefore, the increased focus on remote healthcare delivery is driving the growth of the healthcare navigation platform market.
Key Industry Players
Major companies operating in the healthcare navigation platform market are Alight Solutions LLC, Collective Health Inc., BenefitMall Inc., Sharecare Inc., Accolade Inc., Vera Whole Health Inc., Spring Health, Castlight Health Inc., Hinge Health Inc., Rally Health Inc., Benefitfocus Inc., Included Health LLC, Health Advocate Inc., Quantum Health, Welltok Inc., Grand Rounds Health, CloudMD Software Services Inc., HealthJoy, Maestro Health Inc., Buoy Health Inc., Evive, Brightside Health Inc., Springbuk Inc., PlanSource Inc., Accresa, Transparent Hands
The healthcare navigation platform market report table of contents includes:
Table Of Contents
1. Executive Summary
2. Healthcare Navigation Platform Market Characteristics
3. Healthcare Navigation Platform Market Trends And Strategies
4. Healthcare Navigation Platform Market – Macro Economic Scenario
5. Global Healthcare Navigation Platform Market Size and Growth
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32. Global Healthcare Navigation Platform Market Competitive Benchmarking
33. Global Healthcare Navigation Platform Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Healthcare Navigation Platform Market
35. Healthcare Navigation Platform Market Future Outlook and Potential Analysis
36. Appendix
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