Patient Access Solutions Market worth $2.9 billion by 2027 - Exclusive Report by MarketsandMarkets™ - Insurance News

CHICAGO, Aug. 18, 2022 /PRNewswire/ -- Patient Access Solutions Market is projected to grow from USD 1.9 billion in 2022 to USD 2.9 billion by 2027, at a CAGR of 8.9% from 2022 to 2027, according to a new report by MarketsandMarkets™. The Growth in this market is driven by the increasing patient volume and subsequent growth in the demand for health insurance, declining reimbursement rate, and rising need to curtail healthcare costs. However, increasing data breaches & loss of confidentiality are expected to restrain the growth of this market to a certain extent.

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The support & maintenance service segment is accounted for the largest share in the patient access solutions market, by services

The patient access services market, by type, is segmented into support and maintenance, implementation, and training and education services. In 2021, the support and maintenance services segment accounted for the largest market share. Factors such as the growing need for upgradation and enhancements and rising trend of outsourcing the services are driving the growth of the support and maintenance services segment.

By end user, the healthcare providers segment accounted for the largest share of the patient access solution market, in 2021.

The healthcare providers segment is estimated to have the largest share by end user of the patient access solutions market. The large share of the segment is attributed to the growing HCIT adoption, rising medical error rates, growing denials, increasing healthcare costs, shifting of risk from payers to providers.

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North America dominated the patient access solutions market in 2021

North America accounted for the largest share of the patient access solution market in 2021, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the stringent regulations, increasing government support for improving healthcare infrastructure, the need for reducing healthcare costs, an increasing volume of claims denials, the high number of private healthcare payers and well-established government payers, as well as the presence of a large number of healthcare IT companies, such as McKesson Corporation (US), 3M (US), Cerner Corporation (US), Cognizant (US), Conifer Health Solutions (US), and Epic Systems Corporation (US).

Cognizant (US), McKesson Corporation (US), Cerner Corporation (US), Experian Plc (Ireland), 3M (US), Conifer Health Solutions (US), Waystar (US), Epic Systems Corporation (US), The SSI Group, LLC (US), Optum, Inc. (US), Cirius Group, Inc. (US), Craneware, Inc. (Scotland), Allscripts Healthcare Solutions, Inc. (US), Genentech, Inc. (US) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the patient access solutions market.

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