The Global Patient Centered Medical Home Market is Estimated to Witness High Growth Owing to Increased Efficiency and Quality of Healthcare Services

Patient Centered Medical Home Market 


The patient centered medical home model offers various advantages over traditional healthcare facilities. It focuses on providing whole-person care by facilitating coordination among physicians, nurses, social workers, and other healthcare providers. This holistic approach promotes preventive care and helps manage chronic illnesses more effectively. The medical home facilities also leverage health information technology to improve communication between care teams and patients. This ensures seamless continuity of care and enhanced healthcare experience.


The Global Patient Centered Medical Home Market is estimated to be valued at US$ 21027.74 Mn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 To 2031.

Key Takeaways
Key players operating in the Patient Centered Medical Home are Berkshire Corporation, Kimberly-Clark Corporation, Contec, Inc., DuPont, Ansell Ltd., Illinois Tool Works Inc., Thermo Fisher Scientific, Inc., Helapet, Steris Plc., and VWR International, LLC. (Avantor).

The growing prevalence of chronic diseases and rising healthcare costs present significant opportunities for players in the patient centered medical home market. Major companies are investing in value-based care programs and digital tools to capitalize on this trend.

Globally, there is an increasing emphasis on shifting from doctor-centric to patient-centered care models. Various countries are adopting the patient centered medical home approach to make primary care accessible, affordable and convenient. This will drive the worldwide demand for related products and services over the forecast period.

Market drivers
The primary driver for the Patient Centered Medical Home Market Size is the improved healthcare outcomes and cost efficiencies it delivers. By integrating care services and promoting preventive interventions, the PCMH model has been shown to reduce unnecessary emergency room visits and hospital readmissions. This enhances the value proposition for providers, payers as well as patients.


PEST ANALYSIS

Political: The increasing government reforms and initiatives to shift the focus from reactive to proactive and coordinated patient care will drive the growth. For example, Patient Protection and Affordable Care Act in the US aims to reduce overall healthcare costs through coordinated care.

Economic: Rising healthcare costs along with growing prevalence of chronic diseases are prompting payers and providers to adopt cost effective preventive care models like PCMH which can lower long term costs.

Social: Growing elderly population worldwide prone to chronic illnesses and the emphasis on patient convenience and satisfaction are increasing the social acceptance of comprehensive and coordinated primary care offerings of PCMH.

Technological: Wider adoption of EHR and other digital tools help facilitate coordination between providers, streamline workflow and enables remote monitoring. Blockchain can further help integrate information sharing securely.

The market in terms of value is concentrated predominantly in North America and Western Europe currently. This can be attributed to mature healthcare systems, higher healthcare spends per capita and early adoption of PCMH model in these regions.

Asia Pacific is poised to be the fastest growing regional market for patient centered medical homes owing to rising healthcare expenditures, rapid urbanization and growing burden of chronic diseases. Countries like China, India are showing increased focus on reforming primary care with programs incorporating principles of PCMH. Expanding medical insurance coverage is further supporting the growth in the region.

The PCMH market in terms of value is currently concentrated in North America and Western Europe due to developed healthcare infrastructures and early adoption of the model. However, Asia Pacific is likely to emerge as the fastest growing regional market owing to reforms prioritizing comprehensive primary care and increasing health expenditures in developing countries.

Explore More Related Article on - Ticagrelor Market

 For Enhanced Understanding, Dive into the Report in the Language that Connects with You.

·         About Author:

·         Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

Comments

Post a Comment

Popular posts from this blog

Power Management ICs - Enabling Next Generation Power Efficient Electronics

Image
  Power Management ICs The modern consumer electronics market demands smaller, lighter and more powerful devices that can run for longer periods of time without needing to recharge. To meet these growing demands, semiconductor technology is constantly evolving to deliver more efficient power management solutions. Power management ICs play a crucial role in enabling these power-efficient designs and are helping push the boundaries of what is possible. What are Power Management ICs? A power management integrated circuit or PMIC is a specialized integrated circuit that manages power requirements and distribution in electronic devices. PMICs perform essential functions like power sequencing, voltage regulation, battery charging and power monitoring. They help take unstable power inputs from sources like batteries or wall adapters and deliver clean, regulated power to various components inside a device. Some key functions performed by PMICs include: Voltage Regulation: PMICs contain vol
Read more

Colposcope: A Valuable Tool for Women's Health

Image
  Colposcope A colposcope is a medical diagnostic device that is used to examine the cervix and vagina. When used with acetic acid and iodine, a colposcope allows doctors to detect abnormalities and precancerous lesions that are not visible to the naked eye. In this article, we will explore what a colposcope is, how it works, and its importance in women's healthcare. What is a Colposcope? A colposcope is an optical instrument that is used for an examination called a colposcopy. It consists of a binocular microscope with a bright light source and low-power magnification lenses, usually between 4-40X. The colposcope magnifies the view of the vagina and cervix, allowing physicians to thoroughly inspect these areas for any signs of abnormality, such as inflammation, infection, or precancerous and cancerous lesions. How Does a Colposcope Work? During a colposcopic examination, acetic acid or iodine is first applied to the cervix and vaginal walls. These compounds temporarily clarify
Read more

Balancing Taste and Health: Unveiling the World of Flavor Enhancers

Image
  Flavor Enhancers What are Flavor Enhancers? Flavor enhancers are additives that enhance and bring out existing flavors in food without introducing significant flavor of their own. They work by stimulating taste buds on the tongue in such a way that food tastes sweeter, more savory or generally enhanced in flavor. Common flavor enhancers are monosodium glutamate (MSG), disodium inosinate, disodium guanylate and yeast extracts. These additives are widely used in processed foods, fast foods, soups and sauces to boost flavor profiles.   History of Flavor Enhancers The discovery of flavor enhancing properties of MSG goes back to 1908 when Japanese scientist Kikunae Ikeda isolated glutamic acid from kombu seaweed broth and noted its ability to bring out savory umami flavors. He named this compound monosodium glutamate. In 1957, another flavor enhancer disodium inosinate was discovered along with disodium guanylate being found as an additional flavor enhancer in 1962. These discoveries
Read more