Patient Access Solutions Market by Product and Geography - Forecast and Analysis 2020-2024

The global patient access solutions market size has the potential to grow by USD 539.25 million during 2020-2024. The market’s growth momentum will accelerate throughout the forecast period.

This report provides a detailed analysis of the market by geography (Asia, Europe, North America, and ROW) and product (services and software). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including 3M Co., Cardinal Health Inc., Cerner Corp., Cognizant Technology Solutions Corp., Craneware Plc, Experian Plc, McKesson Corp., nThrive Inc., Optum Inc., and TransUnion.

Market Overview

Market Competitive Analysis

The patient access solutions market is currently fragmented. However, the degree of fragmentation will decrease over the forecast period, primarily owing to strategic mergers and acquisitions and collaborations. Vendors are opting for these inorganic growth strategies due to intense competition in the market, which is increasing their need to strengthen market positions, improve their market presence, and acquire new technologies. nThrive Inc., Optum Inc., and TransUnion are a few of the significant market participants.

Although the accelerating market growth momentum will offer immense business opportunities to vendors, a shortage of appropriate IT infrastructure and skilled professionals in emerging economies will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this patient access solutions market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. This patient access solutions market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading patient access solutions companies, including:

• 3M Co. 
• Cardinal Health Inc. 
• Cerner Corp. 
• Cognizant Technology Solutions Corp. 
• Craneware Plc 
• Experian Plc
• McKesson Corp. 
• nThrive Inc. 
• Optum Inc. 
• TransUnion 

Patient Access Solutions Market: Segmentation by Region

North America accounted for the largest market share in 2019. The presence of high-quality healthcare systems and modern medical technology and many healthcare IT companies and increasing government support for improving healthcare infrastructure are fueling the patient access solutions market growth in North America.

Almost 34% of the overall market’s growth will originate from North America during the forecast period. The US, Mexico, and Canada are the key markets for patient access solutions in the region. The market growth rate in this region will be slower than that of the other geographies over the forecast period.

Patient Access Solutions Market: Segmentation by Product

Services include training and education programs on patient access solutions, which are offered in the services market segment. Other services include software re-engineering, request-based software services, defect resolution, and configuration management. These services empower patients in obtaining improved care with better clinical solutions from healthcare providers. The growth rate of the services segment is expected to be slower compared with the software segment over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the patient access solutions market size.

Patient Access Solutions Market: Key Drivers and Trends

Patient access solutions assist patients, healthcare professionals, and healthcare providers in obtaining and delivering comprehensive and quality healthcare services. The solutions help patients in scheduling appointments, verifying insurance coverage, and making payments through e-commerce platforms. On the other hand, healthcare organizations are deploying patient access solutions to maximize resources and improve patient outcomes. A few of the benefits that healthcare organizations are leveraging from patient access solutions are the ability to engage experts to optimize performance, provision of training programs to staff through webinars, and extension of the revenue cycle to ambulatory requirements.    Moreover, the solutions reduce patient registration mistakes and identify and correct missing data in patient profiles. As a result, the demand for patient access solutions is increasing, contributing to the patient access solutions market growth.

• End-users such as healthcare providers, insurance payers, and patients are increasingly focusing on patient portal tools for patient-centric care, which is one of the critical patient access solutions market trends.
• Through patient portal tools, patients can view health information such as laboratory results, physician visit summaries, immunization or vaccination history, and updated medication lists.
• Patient portal tools can also be used to schedule appointments, secure messaging with healthcare providers, view clinical summaries, and others.
• Healthcare providers can save time and expense by increasing patient engagement, streamline patient registration and administrative tasks, and improve patient care.
• The patient access solutions market will grow at a CAGR of almost 8% during 2020-2024.

Patient Access Solutions Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the growth of the patient access solutions market during the next five years
• Precise estimation of the global patient access solutions market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the patient access solutions industry in Asia, Europe, North America, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of patient access solutions vendors