Referral Management Market worth $6.0 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 21, 2020 /PRNewswire/ -- According to the new market research report "Referral Management Market by Component (Software [Integrated, Standalone], Services), Mode of Delivery (Cloud-Based, On-Premise), Type (Inbound , Outbound), End User (Providers, Payers, Others) and Region - Global Forecasts to 2025", published by MarketsandMarkets™, the global Referral Management Market is expected to reach USD 6.0 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 16.7%.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=196292082
The technological advancements in healthcare infrastructure, growing adoption of digital solutions, various advantages of automated referral process, and the increasing funding for implementing healthcare IT solutions are the key drivers of the market growth. Rising geriatric population base and subsequent increase in the disease burden worldwide will further upsurge the demand for referral management solutions
Browse in-depth TOC on "Referral Management Market"
99 – Tables
29 – Figures
139 – Pages
Software component segment is anticipated to be the fastest growing segment during the forecast period
The referral management market includes Tier I and II vendors like Cerner Corporation, CarePort Health (an Allscripts Company) and eHealth Technologies. The companies have a large market spread across various countries in North America, Europe, Asia Pacific and Rest of the World. The global COVID-19 outbreak has impacted the business. Market players are taking various initiatives to integrate telehealth services into their referral management solutions to ease and promote virtual patient visits owing to the contagious nature of the coronavirus. These solutions aid in achieving higher operational efficiency, leading to shorter waiting times and enhanced patient access, especially in these times of pandemic.
The market is segmented into software and services, based on the components. The software segment which includes integrated and standalone software, is estimated to command the largest share of the market in 2020, and this segment is also projected to register the highest CAGR. The costs involved in referral management software deployment and periodic software upgradations is expected to boost the segment growth during the forecast period.
Inbound referral is the most common type of referral and is expected to occupy the largest market share in 2020
The referral management market is segmented on the basis of type into inbound and outbound referrals. The inbound referrals segment is expected to hold the largest share of the market in 2020 and is estimated to grow at the highest CAGR during the forecast period. High volume of inbound referrals made by general physicians to medical specialists and hospitals is the major factor driving the growth of this type segment.
Get 10% Customization on this Research Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=196292082
The Asia Pacific market to grow at the highest CAGR during the forecast period
While North America is expected to dominate the global referral management market in 2020, the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the increasing adoption of advanced healthcare IT solutions in Japan and the large patient population in markets like China and India. Due to this, the demand for referral management solutions is expected to grow in this region.
The major players operating in the referral management market include Cerner Corporation (US), CarePort Health (an Allscripts Company) (US), eHealth Technologies (US), ReferralMD (US), Optum (US), Kyruus (US), Change Healthcare (US), Persistent Systems (India) and EZ Referral (Canada).
Browse Adjacent Markets: Healthcare IT Market Research Reports & Consulting
Get Special Pricing on Bundle Reports:
https://www.marketsandmarkets.com/RequestBundleReport.asp?id=196292082
Browse Related Reports:
Healthcare IT Integration Market
by Product (Interface Engine, Medical Device Integration, and Media Integration), Service (Integration, Maintenance, Training, and Consulting Services), End-User, and Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/healthcare-it-integration-market-228536178.html
Healthcare Cloud Computing Market by Product (EMR/EHR, PACS, VNA, PHM, Telehealth, RCM, CRM, Fraud Management), Service (SaaS, IaaS), Deployment (private cloud, hybrid cloud), Pricing (Pay as you go), Component (Software) - Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/cloud-computing-healthcare-market-347.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are trackicng global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/referral-management-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/referral-management.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article