Home Press Releases Referral Management Market Size Worth $9.04 Billion By 2030 | CAGR: 13.79%

Referral Management Market Size Worth $9.04 Billion By 2030 | CAGR: 13.79%

The global referral management market size is expected to reach USD 9.04 billion by 2030, according to a new study by Polaris Market Research. The report “Referral Management Market Share, Size, Trends, Industry Analysis Report, By Component (Software, and Services); By Type; By Deployment Mode; By End-Use; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Governments around the world are concentrating their efforts on helping promote healthcare IT solutions to improve healthcare productivity and reduce costs. Governments are collaborating with healthcare professionals to expedite seamless information exchange between healthcare systems to organize care and reduce entirely preventable costs effectively. For example, the Argentine Ministry of Health is constructing a nationwide digital health network in 2020 that will allow care centers to access patient data quite firmly through a standardized integration process, which has used Red Hat container, incorporation, and automation systems.

 

The growing number of geriatrics, as well as the associated increase in chronic diseases, will start driving even more requirements for referral management services. The aging population, combined with an increase in the number of initiatives launched by government agencies to improve the adoption of healthcare IT solutions, is expected to drive market demand.

 

For instance, in December 2019, Eceptionist announced the release of an updated software version that includes “eConsult” services. With this official launch, healthcare organizations now have more flexibility in managing their workflow, as well as the capability to quickly convert an eConsult into a referral with such a single click.

 

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Additionally, several countries governments are increasing their concentration on revamping health systems to provide quality healthcare to their citizens. Healthcare IT solutions are also receiving attention as technological advancements accelerate. These solutions offer patients a high level of convenience while ensuring an efficient process. These factors will eventually significantly accelerate the growth of the market. In healthcare facilities, adopting referral management systems will add value to the growth path.

 

Referral Management Market Report Highlights

  • Cloud-Based segment is anticipated to grow at the highest CAGR over the forecast period. This segment’s rapid expansion can be attributed to increased demand for cloud-based alternatives, which offer benefits such as instant self-serving analytics, neither up-front infrastructure investment for hardware, and excessive capacity flexibility, among many others.
  • Inbound type segment is expected to dominate the market over the forecast period. The factors driving the expansion of this sector are the huge amount of inbound referrals obtained by hospitals and specialized centers from various channels.
  • The providers’ segment is expected to spearhead revenue growth. The growing emphasis on optimizing the patient referral process and empowering seamless connectivity is increasing the demand for referring management among healthcare professionals.
  • Asia-Pacific is expected to grow at the highest CAGR over the projected period due mainly to the region’s rapidly increasing healthcare industry, technological progress, and infrastructural development in major economies, including India and China.
  • Major players operating in the industry include Allscripts Healthcare Solutions, Inc., BlockitNow, Inc., Ehealth Technologies, Inc., Eceptionist, Inc., Harris Corporation, Kyruus, Inc., Mckesson Corporation, Netsmart Technologies, Inc., and The Advisory Board Company.

 

Polaris Market Research has segmented the referral management market report based on component, type, deployment mode, end-use, and region:

 

Referral Management, Component Outlook (Revenue – USD Billion, 2018 – 2030)

  • Software
    • Integrated
    • Standalone
  • Services

Referral Management, Type Outlook (Revenue – USD Billion, 2018 – 2030)

  • Inbound Referrals
  • Outbound Referrals

Referral Management, Deployment Mode Outlook (Revenue – USD Billion, 2018 – 2030)

  • Cloud-based
  • On-premise

Referral Management, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Providers
  • Payers
  • Patients
  • Other End Use

Referral Management, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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