The Healthcare Provider Network Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Healthcare Provider Network Management Global Market Report 2024, The healthcare provider network management market size has grown rapidly in recent years. It will grow from $4.03 billion in 2023 to $4.72 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to rise of value-based care models, increased regulatory compliance requirements, growing complexity of healthcare networks, patient-centric care delivery, market consolidation and mergers.
The healthcare provider network management market size is expected to see rapid growth in the next few years. It will grow to $8.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to interoperability challenges, telehealth integration, focus on cybersecurity in healthcare, population health management strategies, shift towards decentralized care, regulatory changes and reimbursement models. Major trends in the forecast period include artificial intelligence and automation, demand for data analytics in healthcare, technological advancements in healthcare, value-based care integration, telehealth network expansion.
The increasing geriatric population is expected to propel the growth of the healthcare provider network management market going forward. The geriatric population refers to individuals who are elderly, typically aged 65 and older, characterized by specific healthcare needs associated with aging. The Healthcare Provider Network Management market plays a pivotal role in addressing the evolving needs of an increasing geriatric population by optimizing healthcare delivery, enhancing care coordination, and ensuring efficient resource allocation. As the demographic landscape shifts towards a larger elderly population, effective network management becomes a strategic imperative to meet the unique healthcare demands of this growing segment. For instance, in October 2022, according to the World Health Organization, a Switzerland-based international public health organization, the global population of individuals aged 60 years is projected to increase to 1.4 billion by 2022 compared to 1 billion in 2020. Moreover, 1 out of 6 people in the world will be aged more than 60 years or older by 2030. Therefore, the increasing geriatric population is driving the growth of the healthcare provider network management market.
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The healthcare provider network management market covered in this report is segmented –
1) By Component: Network management services, Network management software
2) By Deployment Type: On-Premises, Cloud
3) By End User: Private Payers, Public Payers
Major companies operating in the healthcare provider network management market are focusing on product innovation, such as an intelligence solution for healthcare providers designed to help healthcare providers accelerate their digital transformation. An intelligence solution for healthcare providers refers to a comprehensive system that leverages advanced technologies, data analytics, and automation to optimize decision-making processes, enhance operational efficiency, and improve overall performance within the healthcare industry. For instance, in March 2022, Icertis, a US-based software company that provides contract management solutions to businesses, launched an industry-first contract lifecycle management (CLM) solution, Contract Intelligence (ICI). This product offers a holistic view of risks and obligations in managed care and network contracts, integrating seamlessly with various business systems to enhance visibility and control of contract data. Through automated workflows and post-execution management, ICI streamlines the contracting process, resulting in substantial time and cost savings, reduced risk, and a direct positive impact on the bottom line for healthcare providers in the network management sector.
The healthcare provider network management market report table of contents includes:
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