Global Referral Management Market:
The global referral management market is expected to be valued at US$ 2,800.1 Mn in 2019 and expected to grow at a CAGR of 16.7% over the forecast period by 2026. Technological improvement in healthcare services, increased support for the implementation of IT solutions in healthcare are the drivers boosting the global referral management market. There are few restrain which hung the growth include shortage of in-house IT practitioners and an educated, cross-functional workforce. Increasing streamlining patient referral process provide multiple opportunity towards the global market.
Growing Technology Advancement
It is noticed that the global referral management market has a significant market growth rate on the perspective of growing technology advancement. 40% of the world’s population has access to the internet. 90% of the world’s data was generated within the past two years alone. Another technology that automates work is Robotic Process Automation, or RPA, including AI and Machine Learning. RPA is the use of software to simplify business processes such as programme interpretation, transaction processing, data handling, and even email replying which simultaneously boost the global referral management market.
North America Dominates the Market Share in the Global Referral Management Market
North America contributed major revenue followed by Europe and Asia Pacific. In 2019, North America region accounted huge growth rate and is anticipated to grow with a forecast year. The region’s rising geriatric population and the resulting pressure on hospitals and healthcare organizations. Europe is accounted by, increasingly adopted by healthcare organizations in this area, as it allows them to streamline the referral process and ensure successful cost control. Asia Pacific led by the implementing government policies to introduce HCIT solutions, increasing public expenditure on healthcare systems.
Key player’s profiles in the global 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)
- EZ Referral (Canada).
Global Referral Management Market Report Description:
Global referral management market report gives comprehensive outlook on referral management market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on referral management market gives historical, current, and future market sizes on the basis of product type, component, deployment mode, end user and region. This report studies global referral management market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global referral management market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global referral management market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global referral management market
Key Findings of the Report:
- Global referral management market expanding at significant CAGR over 2020 to 2026 owing due to growing technologies advancement
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA