The Referral Management Market is expected to grow from USD 2.8 billion in 2020 to USD 7.7 billion by 2027, at a CAGR of 15.9% during the forecast period.
Rising government initiatives to implement IT solutions in healthcare, rising adoption of implementing automated referral processes, increase in geriatric population and rising prevalence of chronic diseases are major factors can drive the growth of the referral management market. Furthermore, Asia Pacific region provides huge market potential due to rising adoption of cloud-based models among the countries such as China, Japan and India.
The referral management market is segmented based on type, professional-referral, self-referral and third party-referral. On the basis of component, the market is segmented as, software and services. Software segment is further sub-segmented into integrated software and standalone software. Services segment is further sub-segmented into implementation services, support & maintenance services, consulting services, training & education and post-sale & maintenance services. On the basis of delivery mode, referral management market is segmented into on-premise delivery mode, web-based delivery mode and cloud-based delivery mode. Based on the end user the market is segmented as payers, providers, patients and others.
The global referral management market has been categorized on the basis of four major regional segments—North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to grow at the highest CAGR. The increasing demand for quality care at affordable costs, rising geriatric population, and subsequent increase in the prevalence of various chronic diseases are driving the growth of the referral management market in the Asia Pacific. In addition, the current outbreak of COVID-19 in the Asia Pacific has resulted in the increased patient pool, especially in China and India. The growing patient volume that has resulted in the increased demand for a platform ensuring end-to-end patient care to ensure complete recovery, will fuel the growth of the referral management market in the APAC.
Rising government initiatives to implement IT solutions in healthcare, rising adoption of implementing automated referral processes, increase in geriatric population and rising prevalence of chronic diseases are major factors can drive the growth of the referral management market. Furthermore, Asia Pacific region provides huge market potential due to rising adoption of cloud-based models among the countries such as China, Japan and India.
The referral management market is segmented based on type, professional-referral, self-referral and third party-referral. On the basis of component, the market is segmented as, software and services. Software segment is further sub-segmented into integrated software and standalone software. Services segment is further sub-segmented into implementation services, support & maintenance services, consulting services, training & education and post-sale & maintenance services. On the basis of delivery mode, referral management market is segmented into on-premise delivery mode, web-based delivery mode and cloud-based delivery mode. Based on the end user the market is segmented as payers, providers, patients and others.
The global referral management market has been categorized on the basis of four major regional segments—North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to grow at the highest CAGR. The increasing demand for quality care at affordable costs, rising geriatric population, and subsequent increase in the prevalence of various chronic diseases are driving the growth of the referral management market in the Asia Pacific. In addition, the current outbreak of COVID-19 in the Asia Pacific has resulted in the increased patient pool, especially in China and India. The growing patient volume that has resulted in the increased demand for a platform ensuring end-to-end patient care to ensure complete recovery, will fuel the growth of the referral management market in the APAC.
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