The healthcare provider network management market has grown rapidly, increasing from $4.03 billion in 2023 to $4.72 billion in 2024, with a CAGR of 17.1%. This growth is driven by the rise of value-based care models, regulatory compliance, and market consolidation. The market is anticipated to reach $8.61 billion by 2028, at a CAGR of 16.2%. Key future drivers include interoperability challenges, telehealth integration, and cybersecurity emphasis. Major trends include the use of AI and automation, data analytics, and the expansion of telehealth networks.
Major Driver In The Healthcare Provider Network Management Market
The mounting geriatric population is expected to be a driving force behind the growth of the healthcare provider network management market. As the geriatric population, individuals aged 65 and older, increases, the healthcare provider network management market assumes a critical role in adapting to the evolving healthcare needs of this demographic. The World Health Organization predicts a global population of individuals aged 60 years to reach 1.4 billion by 2022, compared to 1 billion in 2020. Furthermore, by 2030, 1 in 6 people globally will be aged 60 or older. In response to this demographic shift, efficient network management becomes imperative to optimize healthcare delivery, enhance care coordination, and allocate resources effectively. Thus, the burgeoning geriatric population is steering the growth of the healthcare provider network management market, reflecting market sizes for 2023, and forecasts for 2024 and 2028.
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Healthcare Provider Network Management Market Competitive Landscape
Apple Inc., UnitedHealth Group Incorporated, CVS Health Corporation, McKesson Corporation, Cigna Corporation, Centene Corporation, Anthem Inc., Optum Inc., Humana Inc., Aetna Inc., Salesforce Inc., Cognizant, Infosys Technologies Limited, Atos SE, RELX Group plc, Change Healthcare Technologies Corporation, Virtusa Corporation, Genpact Limited, Amedisys Inc., Mphasis Limited, Evolent Health Inc., Coforge Limited, Arkray Inc., Appian Corporation, OSPLabs, Amwell Inc., Symphony Health AI, Ayasdi Inc., SkyGen Technologies Corporation, Artivatic Data Labs, B. Braun Melsungen AG, Becton Dickinson and Company
Key Healthcare Provider Network Management Market Trend
Technological advancement is a prominent trend gaining traction in the healthcare provider network management market. Leading market players are focusing on developing innovative technologies to maintain their competitive edge. For example, in March 2021, Innovaccer Inc., a digital healthcare company based in the US, introduced a provider network management solution powered by the Innovaccer health cloud. This integrated platform aids healthcare payers in enhancing provider network performance, data collection, and analysis. It enables payers to educate and engage providers and offer services such as point-of-care alerts, which improve quality scores, the total cost of care, and member health value.
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Healthcare Provider Network Management Market Segmentation
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
By Geography:The regions covered in the healthcare provider network management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the healthcare provider network management market in 2023.
The Healthcare Provider Network Management Global Market Report 2024 furnishes information about the global healthcare provider network management market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
