Patient Referral Management Software Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Type; By Mode of Delivery (Cloud-based, On-premise); By End-Use; By Region; Segment Forecast, 2022 - 2030
- Published Date:Oct-2022
- Pages: 119
- Format: PDF
- Report ID: PM2674
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global patient referral management software market was valued at USD 7.33 billion in 2021 and is expected to grow at a CAGR of 17.5% during the forecast period. The growing demand for patient referral management software is expected to be driven by technological advancements in the healthcare sector and the rising adoption of management software by many hospitals and clinics.
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Patient referral management software market enables the synchronization and transmission of data of patients among specialists, healthcare providers, and patients. It helps to track the patient’s treatment history, keeps transparency during diagnosis, and improves the communication gap between patient and specialist, which is expected to drive market growth.
Furthermore, the management software has real-time data access and provides a proper care cycle and the right specialist to the patient, which is expected to have a positive impact on the market growth.
The COVID-19 pandemic had a positive impact on the growth of the patient referral management software market. Emergency referrals management played an important role during the pandemic as patient details with critical conditions were transferred among the experts, which increased the demand for management application during that period. Moreover, the demand for virtual treatments was at its peak owing to the stringent government rules and lockdown across the globe, which bolstered the market growth.
The improvement in healthcare infrastructure has led to the adoption of management software still, many staff members don’t fully understand to operate the dashboard, which creates a problem during referring process. Moreover, it requires a huge investment to implement the management software, and therefore with the advancement in technologies, a cost-efficient substitute can restrain the growth of the market.
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Industry Dynamics
Growth Drivers
The global patient referral management software market is likely to be driven by the tremendous increase in patient volume and their demand for effective treatment across developing and developed economies. Furthermore, to improve the quality of patient care, the patients have to undergo diagnosis with various healthcare providers and specialists, which creates a robust pipeline that is likely to have a positive impact on the market growth for the product.
The rise in R&D investments and collaboration of many key players to consistently develop and come up with new techniques to improve the management software with proper security is supporting the market growth. Moreover, the pharmaceutical industry has massive data which could be used to get a better idea about the patient's treatment journey, which, when incorporated with management application, boosts the market growth.
Report Segmentation
The market is primarily segmented based on component, type, mode of delivery, end-use, and region.
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By Component |
By Type |
By Mode of Delivery |
By End-Use |
By Region |
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Software segment accounted for the largest share in 2021
The software component accounted for the highest revenue share in 2021 owing to the ease of tracking appointments, health disorders, and medication of a patient. Integrated and standalone management software is widely used in hospitals and clinics for seamless integration with minimal disruption.
Furthermore, the demand to transfer and secure data related to patients’ history is increasing the need for management software. Moreover, the reduction in manual intervention to improve hospital operational efficiency is some of the factors driving the growth of the segment.
For instance, OmniLife partnered with redox to develop a patient management tool that offers end-to-end communication solutions where transplant centers have access to new referrals where they can share and monitor the activity of patients.
Inbound referrals accounted for the highest CAGR
Inbound referrals accounted for the highest CAGR and is expected to continue its dominance over the forecast period as it aids in combining several sources into a single queue and attracting new patients through emails, phones, and word of mouth. Inbound referrals help to improve communication with referring experts as well as referring patients. Moreover, improved staff productivity, reduced patient leakage, and a constant flow of new patients are some of the factors boosting segment growth.
Cloud-based is expected to witness fastest growth over the forecast period
The demand for cloud-based technology is expected to see a significant surge over the forecast period owing to reduced setup costs for IT infrastructure and the flexibility with which it delivers data. The growing need to share data securely and quick updates on patients’ conditions in the healthcare center is expected to drive market growth.
Cloud technology is replacing traditional methodologies owing to its improved data handling, minimal disruption, and reduced data leakage. Furthermore, electronic medical records, patient portal mobile management software, and big data analytics are some of the technologies provided by cloud technology in the healthcare sector which enhances the scalability and decision-making process, further accelerating the market growth.
Providers segment is expected to account for the largest share in 2030
The provider segment is expected to dominate the market over the forecast period as they serve most patients and are the initial point of contact for many health issues and enhance streamline communication among professionals involved in the treatment of a patient. In addition, healthcare providers coordinate within and outside the network to add fresh patients whom they can refer to various hospitals and centers, ultimately reducing operating costs and increasing revenue which is driving the market growth.
Asia Pacific is expected to dominate and witness fastest growth over the forecast period
Asia Pacific is the largest region for patient referral management software and is expected to witness fastest growth over the forecast period owing to the rising geriatric population and their growing health disorders across developing economies such as India, China, and Japan.
In addition, the increasing demand for affordable and end-to-end treatment, technological advancement, and government initiatives to improve healthcare IT infrastructure is expected to drive demand over the forecast period.
Competitive Insight
Some of the major players operating in the global market include Advanced, Allscripts Healthcare Solutions, Arcadia, Athena Health, Blockitnow, Inc., Careport Health, Cerner Corporation, Change Healthcare, Cloudmed, Conifer Health Solutions, Llc., Dentalcarelinks, Eceptionist, Ecosoft Health, Ehealth Technologies, Epic Systems Corporation, EZ Referral, Getwellnetwork, Healthviewx, Healthware Systems, Innovaccer, Inc., Insync Healthcare, Kyruus, Lightbeam Health Solutions, Mdfit, Medcohere Inc., Netsmart Technologies, Inc., Optum, Inc., Persistent Systems, Referralmd, Referwell
Recent Developments
In June 2022, eHealth technologies and N1X10 partner together to implement concierge services as eHealth technologies retrieve and clinically organize massive data to create appropriate treatment plan based on cancer patient requirements and preferences.
In May 2022, ReferWell partnered with NexHealth which enables healthcare providers and administrator to schedule patient appointments at appropriate time. Furthermore, the partnership has increased the referral volume and made appointment scheduling much easier.
Patient Referral Management Software Market Report Scope
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Report Attributes |
Details |
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Market size value in 2022 |
USD 9.89 billion |
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Revenue forecast in 2030 |
USD 35.91 billion |
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CAGR |
17.5% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Component, By Type, By Mode of Delivery, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Advanced, Allscripts Healthcare Solutions, Arcadia, Athena Health, Blockitnow, Inc., Careport Health, Cerner Corporation, Change Healthcare, Cloudmed, Conifer Health Solutions, Llc., Dentalcarelinks, Eceptionist, Ecosoft Health, Ehealth Technologies, Epic Systems Corporation, EZ Referral, Getwellnetwork, Healthviewx, Healthware Systems, Innovaccer, Inc., Insync Healthcare, Kyruus, Lightbeam Health Solutions, Mdfit, Medcohere Inc., Netsmart Technologies, Inc., Optum, Inc., Persistent Systems, Referralmd, Referwell |
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