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Value Based Care Payment, Industry Growth, Global Market Trends, Insights 2024
Global Value Based Care Payment, Market Trends
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According to The Business Research Company's, The value based care payment market size has grown rapidly in recent years. It will grow from $2.47 billion in 2023 to $2.77 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a rise in healthcare expenditure, growing usage of digital healthcare infrastructure and a rapid development in value-based health care services..
The value based care payment market size is expected to see rapid growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to an increase in the aging population, growth of the middle-class in emerging markets and a rising prevalence of chronic diseases will drive the growth.. Major trends in the forecast period include focus on low-code platforms for value-based care, strategic mergers and acquisitions, implementation of optimal care management strategy, remote patient monitoring as a reimbursable initiative for valued based care and an increase in bundle payments. .
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Market Drivers and Trends:
Rapid development in value-based health care services is expected to contribute to the tremendous growth of the value-based care payment market. Healthcare cost curve and unnecessary health expenditures have been reduced to almost 5.6% on average due to value-based healthcare services. UnitedHealth predicted that $75 billion of its payments to medical care providers will be attached to value-based care relationships. Likewise, the quantity of Accountable Care Organizations (ACO) is expanding, giving more protection and inclusion. For example, according to the analysis in the Journal of Health Affairs, there were more than 1,000 ACOs spread across the USA, which represented more than 1,400 contracts with commercial and government insurers covering more than 32 million Americans. Therefore, rapid expansion in value-based health care services is driving the value-based care payment market demand by increasing the effective usage of services provided to customers focusing on value-based care model rather than the fee-for-service model.
Partnerships in value-based care are gaining popularity among the providers as these partnerships allow partners such as manufacturers, payers, and provider organizations to co-develop programs, solutions, and initiatives collaboratively for the benefit of patients and healthcare systems. Value-based partnerships assist with conveying the highest value incentive to the healthcare system and society by concentrating on improving patient results with regard to the system and societal total costs. For instance, in June 2021, Humana, a US-based health insurance company acquired value-based home healthcare partner One Homecare Solutions (onehome) from WayPoint Capital Partners to enhance value-based care in home healthcare services.
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Major Key Players of the Market:
Toray Industries Inc., Sinopec Group, Mohawk Industries, Inc., TJX Companies, Far Eastern New Century, Tex Tech Industries, Ashley Furniture Industries, Inc., Beaulieu International Group, Santana Textiles LLC, Yarnz, Australian Textile Mills (ATM), Bruck Textiles, Spunchem Interntaional, Old Navy, Mattex Yarns, Daedong Company Limited, Magellan (Old Aladdin) Co. Ltd, Yarns Dubai, Arvind Ltd, Bombay Rayon Fashions Limited, Berry Global, Silkoplus German Embroidery Threads, Luthai Textile, Huafu, Siltex Brasil Ltda, Jiangsu Sunshine Co Ltd, Huafang Group Co Ltd, Shangtex Holding Co. Ltd., Shijiazhuang Changshan Textile Co Ltd, Margo, Lenzing, Coats, Laxtons, Ugurteks, Ardalanish Mill, , European Spinning Group, AMANN Group, Simba Textile Mills Pty. Ltd., Shandong Jining Ruyi Woolen Textile Co Ltd, Elena Furs, Fabreex, United Textiles, Michael Kors, Domarex SC, Tarkett S.A, Coats Bell Div. of Coats Canada Inc., Santista Argentina SA, Unifi, Inc., Albany International Corp., Vardhman Textiles, InPro Corporation, Dunmore Corp., Fabrico, The Yarn Room, Bally Ribbon Mills, Paramount Texteis, Converse, Brooks Brothers, Hollister, Aeropostale, American Eagle Outfitters, Abercrombie & Fitch, Saint Gobain Tape Solutions, Pettenati Industria Textil SA, GAP, Levi Strauss & Co., National Spinning Co, Evora SA, Hyosung TNC, Fabricato SA, Reliance Industries Limited, Sarwani International Corporation, Saudi Spinning & Textile Mill, Ralph Lauren, Fiacao Sao Bento S.A., Slywia Samulak, Town End Alpacas, Como Luxury fabrics, SELA, Gale Pacific Fze, Textil Sao Joao, Namsung Match Co. Ltd, Weiqiao Textile Company Limited, Aratex Group, Shandong Demian Incorporated Company, Terico Golzar, Fibertex South Africa, Elasticos Yarns, Trelleborg Engineered Coated Fabrics, Leena Egypt, AlSaraTex Co., Integrated Fibres Limited
Value Based Care Payment Market 2024 Key Insights:
• The value based care payment market size is expected to see rapid growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Value-Based Healthcare Services Revolutionize The Healthcare Landscape, Driving Growth In The Value-Based Care Payment Market
• Rising Trend Of Value-Based Care Partnerships A Collaborative Approach For Improved Patient Outcomes
• North America was the largest region in the value-based care payment market in 2023
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Learn More About The Business Research Company
The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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