LONDON, Feb. 11, 2021 (GLOBE NEWSWIRE) --
New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
According to The Business Research Company’s research report on the value-based health care services market, the COVID-19 crisis has hit hard on individuals with poorly managed chronic conditions including obesity, diabetes, COPD and cardiovascular diseases. Individuals with chronic conditions are more vulnerable towards COVID-19 than others. Thus, there has been increasing demand from government efforts to boost the primary healthcare, telehealth, remote patient monitoring, and digital health education to increase the medical reach to patients with chronic conditions. In September 2020, The Centers for Medicare & Medicaid Services a federal agency within the United States Department of Health and Human Sciences issued guidance to state Medicaid directors to increase the adoption of value-based care strategies across their healthcare systems and align provider incentives across payers. The rise in utilization of tele health and connected care during the pandemic is expected to increase the adoption of value-based care payment models during the forecast period.
The global value-based care payment market is expected to grow from $1.52 billion in 2020 to $2.27 billion in 2021 at a compound annual growth rate (CAGR) of 49.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The value-based care market size is expected to reach $4.02 billion in 2025 at a CAGR of 15%.
The Business Research Company’s report titled Value Based Care Payment Global Market Report 2021: COVID 19 Growth And Change to 2030 covers major value based care payment companies, value based care payment market share by company, value based care payment manufacturers, value based care payment infrastructure market size, and value based care payment market forecasts. The report also covers the global value based care payment market and its segments.
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The value based care payment market is predicted to be driven by increased incidence rates of chronic diseases and physical disabilities. The market is driven by the increased fear of chronic diseases that increase the volume of patients resorting to healthcare service providers for treatment. According to WHO, the global burden of major chronic diseases currently accounts for 43% of all diseases and is set to rise to 60% by 2020. According to a UN report on world population aging, during 2015-2030, globally, the 60+ aged population is projected to grow by 56% to reach 1.4 billion. Growth of the aging population and rising chronic disease incidence will increase the volume and rise the need for value based care payment system across hospitals and clinics, thereby increasing the demand for the market.
Due to the pandemic as well as in general, government initiatives and efforts towards implementing reforms have had a significant impact on the value based payment market in both developed and developing countries. For instance, in January 2020, the Centers for Medicare & Medicaid Services (CMS), a federal agency in the USA launched the Primary Cares Initiative program that examines the cost and quality of treatment done and is trying to move the market toward value-based reimbursement. In 2019, the CMS has announced that by 2025, all service providers should take the downside financial risk. These government initiatives push service providers to rely on value-based care payment systems and thereby contribute to the growth of the market in the forecast period.
Value Based Care Payment Global Market Report 2021: COVID 19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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