Insights on Global Accountable Care Solutions Market Size & Share to Reach USD 43.5 Million by 2028, Exhibit a CAGR of 16.5% | Industry Trends, Value, Analysis & Forecast Report by ZMR
NEW YORK, July 13, 2022 /PRNewswire/ -- As per Zion Market Research study, The global accountable care solutions market was valued at $17.7M in 2021 and is projected to generate a market revenue of $43.5M by 2028 while growing at a CAGR of 16.5% during the forecast period.
Key Industry Insights & Finding of the Accountable Care Solutions Market Reports:
- As per the analysis shared by our research analyst, the Accountable Care Solutions Market is expected to grow annually at a CAGR of around 16.5 % (2022-2028).
- Through the primary research, it was established that the Accountable Care Solutions Market was valued approximately USD 17.7 Million in 2021 and is projected to reach to roughly USD 43.5 Million by 2028.
- The global accountable care solutions market was dominated by North America in 2020 and is projected to lead global growth in the coming years owing to higher adoption of technology in the healthcare sector along with increased medical expenditure and rising pressure of providing excellent medical care.
- The state-of-the-art ambulatory services in the USA and Canada are expected to aid the regional growth coupled with the rising number of elderly population which is estimated to cross over 96M by 2060, in the USA alone.
- Asia-Pacific is expected to register a high growth rate by 2028 because of increased government investments in the healthcare sector and multiple initiatives intended to encourage treatment facilities to adopt digital technologies in medical care. Countries like India and China are known for their IT services which will assist in regional growth.
- There is a considerable increase in the number of hospital admissions in the last couple of years owing to an increase in disposable income, availability of medical care, government initiatives, and excellent medical reimbursements.
Zion Market Research published the latest report titled as "Global Accountable Care Solutions Market By Delivery Mode (On-Premise and Cloud-Based), By Product (Services, Healthcare Provider Solutions, and Healthcare Payer Solutions), By End-User (Providers and Payers), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Accountable Care Solutions Market : Overview
Accountable care solutions consist of provider groups that take up the responsibility for the quality and the cost of medical care provided to patients. These solutions are created by medical or healthcare professionals with the sole aim of giving their patients the best medical treatments without having to worry about expenses.
Accountable care solutions are run by accountable care organizations (ACOs) and are based on physician practices that may or may not turn into patient-centric medical homes. It also includes hospitals, nursing homes, and other medical organizations. It is an integrated delivery system where physicians, hospitals, and financial aid comes under one roof. The global market is growing because of the promising results shown by accountable care solutions since they are patient-centric and, aid the transitions of medical care from healthcare facilities to community-based home care settings. These solutions have been proven to be effective in identifying patients suffering from chronic conditions and helping them reduce their hospital visits thus making them less prone to other infectious diseases.
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Industry Dynamics:
Accountable Care Solutions Market : Growth Drivers
- Opening of multiple accountable care solution providers to aid global market growth
One of the most successful value-based delivery strategies is the accountable care solutions model and a high adoption rate is witnessed amongst all of the stakeholders which is expected to propel the global accountable care solutions market growth during the projection period. As of 2021, more than 13M beneficiaries have registered to gain benefits from over 500 ACOs globally.
The global market expansion may also be attributed to the rampant digitalization in the healthcare sector. Growing disease complexity and rising unpredictability in different medical cases has forced treatment facilities to make use of advanced technology as much as possible to provide excellent results. The presence of digital technologies like IoT, cloud-based sharing services, and artificial intelligence which form the crux of accountable care solutions, assists the delivery of safe and cost-effective medical systems as it provides a channel for providers and patients to communicate and coordinate efficiently.
Governments across the globe have been working tirelessly to reduce healthcare expenditures, curb chronic diseases, and make healthcare infrastructure patient-oriented. All of this can be achieved by incorporating accountable care solutions into the medical architecture of the country. Multiple initiatives are taken up by the government and private stakeholders to educate the patients as well as hospitals about the benefits of accountable care solutions that are expected to aid the global market expansion during the forecast period.
Accountable Care Solutions Market : Restraints
- Data security and the high cost of initial setup to restrain the global market growth.
Accountable care solutions are data-driven and the majority of the market share runs majorly on cloud-based services. Since a lot of medical data is highly confidential and medical care solutions incorporate financial details like bank account numbers, names, personal codes, etc. the data is highly sensitive and there is always a scope of data breach as many hackers are constantly trying to download such details. In the EU, with the rolling out of the Data Protection Law, GDPR, data sharing has become even more stringent and the hospital authorities have to make sure to comply with the law.
The initial cost of setting up accountable care solutions infrastructure is very high and some developing nations may not be able to afford it. Both of these reasons are expected to restrain the global market growth.
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Accountable Care Solutions Market: Opportunities
- Growing medical cases and subsequent pressure on healthcare infrastructure to provide lucrative growth opportunities.
There is a considerable increase in the number of hospital admissions in the last couple of years owing to an increase in disposable income, availability of medical care, government initiatives, and excellent medical reimbursements. This has led to increased pressure on healthcare facilities to provide quick and quality medical assistance to deal with the rising number of patients which is expected to provide global accountable care solution market growth opportunities.
The global market can also gain some opportunities because of the emergence of telemedicine and telehealth or other electronic platforms which provide educational as well as medicinal aid to patients.
Accountable Care Solutions Market: Challenges
- Absence of IT skills to create challenges in global market expansion.
The healthcare sector does not primarily focus on IT and the majority of these services are outsourced. This may lead to a reluctance amongst healthcare professionals to adopt advanced technologies in medical care since they might not find it easy to navigate. Outsourcing of IT may also increase the overall expenses of the treatment facility thus creating challenging situations in the global market.
Global Accountable Care Solutions Market : Segmentation
- The global accountable care solutions market is segmented by delivery mode, product, end-user, and region.
By delivery mode, the global market segments are on-premise and cloud-based. The segment may be dominated by cloud-based delivery mode since it is showing promising signs of acceptance in the coming future.
Based on product, the global market is segmented into services, healthcare provider solutions, and healthcare payer solutions where services may lead the segment owing to their rapid implementation in the healthcare sector.
Based on end-user the segments in the global market are providers and payers. The segment was led by healthcare provider solutions in 2021 owing to increased initiatives by the government for the promotion of e-records and patient-oriented solutions.
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List of Key Players of Accountable Care Solutions Market :
- Mckesson Corporation
- Zeomega Inc.
- Aetna Inc.
- EPIC Systems Corporation
- Cerner Corporation
- Allscripts Healthcare Solutions Inc.
- IBM Corporation
- Verisk Health Inc.
- Eclinicalworks LLC.
- UnitedHealth Group
Key questions answered in this report:
- What are the growth rate forecast and market size for Accountable Care Solutions Market ?
- What are the key driving factors propelling the Accountable Care Solutions Market forward?
- What are the most important companies in the Accountable Care Solutions Market Industry?
- What segments does the Accountable Care Solutions Market cover?
- How can I receive a free copy of the Accountable Care Solutions Market sample report and company profiles?
Report Scope:
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Recent Developments
- November 2020 witnessed a collaboration between Blue Cross and Blue Shield, a North Carolina-based firm. The collaboration was intended to launch a new accountable care organization that will be working with rural hospitals and community providers to provide better medical care to its beneficiaries.
- In November 2019, the acquisition of Medfusion by NextGen Healthcare strengthened the portfolio of NextGen Healthcare especially in the ambulatory services segment while also providing enhanced medical information to its customers.
Regional Dominance:
- North America to dominate the global market in the coming years.
The global accountable care solutions market was dominated by North America in 2020 and is projected to lead global growth in the coming years owing to higher adoption of technology in the healthcare sector along with increased medical expenditure and rising pressure of providing excellent medical care. The state-of-the-art ambulatory services in the USA and Canada are expected to aid the regional growth coupled with the rising number of elderly population which is estimated to cross over 96M by 2060, in the USA alone.
Asia-Pacific is expected to register a high growth rate by 2028 because of increased government investments in the healthcare sector and multiple initiatives intended to encourage treatment facilities to adopt digital technologies in medical care. Countries like India and China are known for their IT services which will assist in regional growth.
Global Accountable Care Solutions Market is segmented as follows:
Accountable Care Solutions Market : By Delivery Mode Outlook (2022-2028)
- On-Premise
- Cloud-Based
Accountable Care Solutions Market : By Product Outlook (2022-2028)
- Services
- Healthcare Provider Solutions
- Healthcare Payer Solutions
Accountable Care Solutions Market : By End-User Outlook (2022-2028)
- Providers
- Payers
Accountable Care Solutions Market : By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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