“Healthcare Provider Network Management Market by Component (Services (Internal Services, Outsourcing Services), Platform/Software) – Analysis and Global Forecast to 2020“, published by MarketsandMarkets, the global market for the forecast period of 2015 to 2020. This market is expected to reach USD 2.96 Billion by 2020 from USD 1.78 Billion in 2015, at a CAGR of 10.7%.
Implementation of stringent federal mandates in the U.S., growing focus on improving quality of care through the effective use of payer reporting requirements are the major factors driving this market. However, High cost of deployment is likely to restrain the growth of the market. Moreover, Reluctance of users to migrate from legacy systems is likely to pose challenge to the growth of the market.
Based on components, the healthcare provider network management market is categorized into services and platforms/software. Services market is further segmented into internal services and outsourcing services. In 2015, the services segment is estimated to account for the largest share of the healthcare provider network management market and is excepted to growth at the highest CAGR from 2015 to 2020.
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On the basis of regions, this market is categorized into North America (U.S., and Canada), Europe, Asia-Pacific, and the Rest of the World (RoW) (Latin America, Middle East, and Africa). In 2015, North America is poised to account for the largest share of the healthcare provider network management market, followed by Europe and Asia-Pacific. The North America market is slated to grow at the highest CAGR during the forecast period. The major factors driving market growth in North America include the increase in health insurance coverage triggered by the Patient Protection and Affordable Act (PPACA) in the U.S., the rising need to curtail escalating healthcare costs in the U.S. and Canada, and the government focus on healthcare IT solutions in Canada.
Some of the key players in the global healthcare provider network management market include Aldera, Inc. (U.S.), Ayasdi, Inc. (U.S.), Genpact Limited (U.S.), Infosys BPO, Ltd. (India), McKesson Corporation (U.S.), Mphasis Limited (India), Optum, Inc. (U.S.), Syntel, Inc. (U.S.), TriZetto Corporation (A cognizant company) (U.S.), and Vestica Healthcare, LLC (A Skygen USA company) (U.S.).