WASHINGTON, June 28, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Accountable Care Solutions Market finds that factors such as a growing need to curtail healthcare costs, government initiatives to promote patient-centric care facilities, increasing incidences of chronic diseases, rising number of accountable care organizations, increasing advancement in big data capabilities and increasing geriatric population are accelerating the growth of the Accountable Care Solutions Market. In addition, a growing focus on value-based medicine and increasing adoption of cloud-based models will create various growth opportunities in the Accountable Care Solutions Market in the coming time.
On the other hand, lack of interoperability, high infrastructure cost, and concerns related to data security & hacking are expected to hinder the growth of the Accountable Care Solutions Market during the forecast period.
The Global Market revenue stood at a value USD 17.5 Million in the year 2021.
The Global Accountable Care Solutions Market size is forecasted to reach USD 43.3 Million by the year 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 16.3% during the forecast period; states Vantage Market Research, in a report, titled “Accountable Care Solutions Market Size, Share & Trends Analysis Report by Product & Service (Healthcare Provider Solutions, Healthcare Payer Solutions, Services), by Delivery Mode (Web & Cloud-Based Delivery Mode, On-Premise Delivery Mode), by End User (Healthcare Providers, Healthcare Payers), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Rapid Growth of Accountable Care Organizations
Nowadays, the older population and the incidences of numerous chronic conditions are increasing at a pace, which leads to a rapid increase in the number of hospital admissions across the globe. This puts plenty of pressure on hospitals to offer high-quality and cost-effective healthcare services. Thus, the worldwide Accountable Care Solutions Market is growing in response to the increased need for hospitals to reduce healthcare expenditures. In addition, growing investments in IT and telecommunications infrastructure will have a major and favorable impact on industry growth. Furthermore, several governments have taken initiative and enforced some rules & regulations to encourage patient-centric care facilities. Thus, an increase in the number of accountable care organizations (ACOs) will offer high-quality care services at lower prices which is likely to have a positive impact on the Accountable Care Solutions Market industry in the coming time.
Lack of IT Skills Hinders the Market Growth
The healthcare sector is growing rapidly. But because of a lack of IT knowledge, the healthcare industry depends on third-party service providers to integrate & implement care solutions in hospitals. Some of the IT skills lacking in the healthcare sector are data protection, system & data integration skills, technology & architecture support, data analytics, and data statistics. As a result, hospitals will suffer higher execution costs which impede the growth of the Accountable Care Solutions Market. For instance, Achim Weiss, CEO of IONOS, said: “Healthcare companies are often the guardians of sensitive personal information, yet the Information Commissioner’s Annual 2019 Report found that healthcare is the worst sector when it comes to data breaches, accounting for 20% of the total in 2019."
Key Insights & Findings from the Report:
According to our primary respondents’ research, the Accountable Care Solutions market is predicted to grow at a CAGR of roughly 16.3% during the forecast period.
The Accountable Care Solutions market was estimated to be worth roughly USD 17.5 Million in 2021 and is expected to reach USD 43.3 Million by 2028; based on primary research.
On the basis of region, North America is projected to dominate the worldwide Accountable Care Solutions market.
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Segmentation of the Global Accountable Care Solutions Market:
Product & Service
Healthcare Provider Solutions
Healthcare Payer Solutions
Web & Cloud-Based Delivery Mode
On-Premise Delivery Mode
Middle East & Africa
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
1. Impact Assessment of COVID-19 Pandemic
I. North America
III. Asia Pacific
IV. Latin America
V. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics
The Report on Accountable Care Solutions Market Highlights:
Assessment of the market
COVID Impact Analysis
Historic Data, Estimates, and Forecast
Global and Regional Dynamics
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on "Accountable Care Solutions Market Size, Share & Trends Analysis Report by Product & Service (Healthcare Provider Solutions, Healthcare Payer Solutions, Services), by Delivery Mode (Web & Cloud-Based Delivery Mode, On-Premise Delivery Mode), by End User (Healthcare Providers, Healthcare Payers), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
North America Dominated the Global Accountable Care Solutions Market
North America dominated the Global Accountable Care Solutions Market in 2021. Technological advancement in order to manage data generated from hospitals and increasing government encouragement of hospitals to adopt an accountable care model are some major factors responsible for the growth of the Accountable Care Solutions Market in this region.
List of Prominent Players in the Accountable Care Solutions Market:
Cerner Corporation (US)
IBM Corporation (US)
UnitedHealth Group (US)
Aetna Inc. (US)
Allscripts Healthcare Solutions Inc. (US)
Epic Systems Corporation (US)
McKesson Corporation (US)
Verisk Health (US)
ZeOmega Inc. (US)
eClinicalWorks Inc. (US)
NextGen Healthcare (US)
September 2016: McKesson launched McKesson Intelligence Hub, a new technology platform for enabling interoperability and sharing business intelligence among healthcare applications. This will help the company to provide automated reimbursement solutions and help streamline payment by making interoperability easy for customers, partners, and vendors across the healthcare ecosystem.
August 2016: Aetna expanded its accountable care collaboration with Duke Health (U.S.) and WakeMed Health & Hospitals (U.S.). This collaboration would help the company to deliver better value through quality, cost-effective care, and improved population health management.
July 2016: McKesson acquired HealthQX (U.S.). This acquisition helped the company to expand its value-based care portfolio with HealthQX’s value-based payment technology solution, ClarityQx.
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Accountable Care Solutions Market?
How will the Accountable Care Solutions Market change in the upcoming six years?
Which application and product will take a lion’s share of the Accountable Care Solutions Market?
What is the Accountable Care Solutions market drivers and restrictions?
What will be the CAGR and size of the Accountable Care Solutions Market throughout the forecast period?
This market titled “Accountable Care Solutions Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years
• Product & Service
Region & Counties Covered
• North America
• Cerner Corporation (US)
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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