Polaris Market Research recently published [115+ Pages] research report on “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” in its research database.
According to the research report, the global referral management market size was valued at USD 2.87 billion in 2021 and is expected to reach USD 9.04 Billion by 2030, growing at a CAGR of 13.79% during the forecast period.
What is Referral Management? What is the Expected Size & Share of the Referral Management Market?
- Overview
Referral management is a procedure frequently used by healthcare centers that include hospitals, clinics, etc., that helps the medical field to track patient referrals across the patient’s treatment journey. It majorly aims to magnify coordination between the several healthcare providers involved in the treatment of patients.
Moreover, referral management helps in tracking the revenue period of the patient and constructively handling the claims. The technological developments in the healthcare procedure are anticipated to propel the referral management market demand over the assessment period. Also, increasing acceptance of digital solutions across the globe is predicted to uplift the industry revenue share.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Key Highlights of the Report:
- A complete analysis, which includes an assessment of the parent market
- Assessment of growth opportunities in key segments and regions
- Important changes in industry dynamics
- Comprehensive company profiling of top players in the market
- The current, historical and projected size of the industry by both value and volume
- Definite value chain and supply chain examination of the industry
- Endorsement to companies for strengthening their presence in the market
Growth Driving Factors
- The rising geriatric population is boosting the market
The referral management market share is anticipated to grow at a considerable rate over the examination period due to advancements in technology and improving healthcare centers in evolving countries. Also, the enduring development of the virtual care network is driving the market. Several benefits of automated referral processes and the upsurge in the funding for incorporating healthcare IT solutions are the other factors expected to boost the industry.
Furthermore, rising government initiatives towards the industry across the world to execution of the relevant IT solutions to magnify the healthcare structure are predicted to propel the referral management market size. The growing geriatric population and increasing frequency of chronic disorders are anticipated to account for the significant growth in the industry during the study period. The deficiency of staff to perform manual tasks is another factor responsible for the market growth.
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Recent Developments
- In 2020, Change Healthcare (US) launched the Virtual Front Desk to digitalize patient access to quality care.
- In July 2022, N1X10, a corporation that aims to empower patients to fight cancer through collaboration with oncology specialists constantly, joined forces with eHealth Technologies to fetch and convert large amounts of medical data.
Some of the Top Market Players Are:
- Allscripts Healthcare
- BlockitNow Inc.
- Conifer Health Solutions
- Clarity Health Service
- Cerner Corporation
- E-health Technologies Inc.
- Eceptionist Inc.
- Harris Corporation
- Kyruus Inc.
- Mckesson Corporation
- Netsmart Technologies
- Advisory Board Company
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Segmental Analysis
- The inbound referrals type segment is anticipated to dominate the market
On the basis of type, the inbound referrals segment is expected to be considered the largest market share in 2021. The factors responsible for the region’s dominance are that in a single chance, it can acquire from many sources that include fax, emails, mobile, and walk-ins.
- The cloud-based segment is considered as the highest market share
Based on deployment mode, the referral management market segmentations are divided into cloud-based and on-premise. The cloud-based segment dominated the industry in 2021. This segment dominated the market because it provides on-demand self-service insights, low initial capital investment for hardware, and remarkable capacity flexibility.
- The patient segment is expected to hold the largest market share
On the basis of end-use, the parent segment is predicted to grow at a considerable rate. The factors accountable for the region’s dominance are the growing geriatric population and the rising frequency of chronic illnesses. Also, Patients are assessed by healthcare providers on the basis of diagnostic test measures, and after that, they are passed on to specialists based on their care needs.
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Referral Management Market: Report Scope
| Report Attribute | Details |
| Market Outlook for 2030 | USD 9.04 Billion |
| Market Size 2022 Value | USD 3.22 Billion |
| Expected CAGR Growth | 13.79% from 2022 – 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 – 2030 |
| Top Market Players | Allscripts Healthcare Solutions, Inc., BlockitNow, Inc., Conifer Health Solutions, LLC, Clarity Health Service, Inc., Cerner Corporation, Ehealth Technologies, Inc., Eceptionist, Inc., Harris Corporation, Kyruus, Inc., Mckesson Corporation, Netsmart Technologies, Inc., and The Advisory Board Company |
| Segments Covered | By Component, By Type, By End-Use, By Deployment Mode, By Region |
| Customization Options | Customized purchase options are available to meet your research needs. Explore customized purchase options |
Geographic Overview
- North America is predicted to generate a significant market growth
Based on the geographic analysis, North America is estimated to dominate the referral management market. The key factors supporting regional growth include rapid development, an increasing penetration rate of these systems in healthcare practices, and well-established infrastructural facilities. Also, with the rising advancements in technology in healthcare IT and the growing acceptance of patient referral software applications, North America is considered as the largest industry share.
Browse the Detail 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” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/referral-management-market
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Key Questions Answered in The Report Include:
- What is the size of the referral management market?
- What is the growth rate of the industry?
- Who are the leading players in the market?
- What are the factors driving the industry?
- What are the key outcomes of the five forces analysis?
- Which region accounted for the largest industry share?
Polaris Market Research has segmented the referral management market report based on component, type, deployment mode, end-use, and region:
By Component Outlook
- Software
- Integrated
- Standalone
- Services
By Type Outlook
- Inbound Referrals
- Outbound Referrals
By Deployment Mode Outlook
- Cloud-based
- On-premise
By End-Use Outlook
- Providers
- Payers
- Patients
- Other End Use
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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