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.

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·         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)

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