The patient centered medical home (PCMH) model aims to strengthen the patient-provider relationship through a team-based care approach. In a PCMH, a primary care physician leads a team of healthcare professionals such as nurses, physician assistants, pharmacists, nutritionists and social workers to deliver comprehensive care that is accessible, coordinated and focused on quality and safety. The integrated and coordinated care facilitates personalized care plans and monitoring of health outcomes and chronic conditions. This collaboration helps address medical and social needs in a cost-effective manner and provides patients with the education and support they need to take an active role in their health.
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 from 2024 to 2031.
Growing prevalence of chronic diseases worldwide and rising healthcare costs are major factors driving increased adoption of the PCMH model. The model aims to improve health outcomes and experiences for individuals through a continuous healing relationship.
Key Takeaways
Key players operating in the patient centered medical home market 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).
Growing demand for personalized and high-quality care is expected to boost market growth during the forecast period. Individuals are increasingly looking for an integrated care approach with better coordination between medical specialists and consistency in treatment plans.
The global expansion of leading healthcare organizations and private investment in the PCMH model in countries across North America, Europe, Asia Pacific and Latin America is further anticipated to drive the market. Several countries are investing in pilot programs and incentive structures to transition practices to the patient-centered model.
Market key trends
One of the key trends gaining momentum in the Patient Centered Medical Home Market Size is the use of digital health tools to enhance the delivery of personalized care. Technologies such as telehealth, remote monitoring devices, electronic health records and care management software enable continuous engagement with patients, coordinated care planning and timely interventions. This data-driven approach with comprehensive patient profiles helps individualize treatment approaches. The trend is expected to significantly strengthen provider-patient relationships and high-value care delivery over the forecast period.
Porter’s Analysis
Threat of new entrants: Low setup costs and no major intellectual property barriers mean threat is moderate.
Bargaining power of buyers: Individual patients have low bargaining power but insurance companies have high bargaining power due to consolidated nature.
Bargaining power of suppliers: Suppliers of medical equipment and devices have moderate bargaining power due to differentiated nature of products and services.
Threat of new substitutes: Threat is low as no close substitute exist for access to personalized healthcare and medical advice.
Competitive rivalry: Intense competition exists among existing healthcare providers to gain greater market share.
Geographical regions with highest market share in terms of value include North America and Europe as they have been early adopters of patient centered medical home model. Significant investments have been made in primary care infrastructure and promotion of holistic healthcare approaches.
Asia Pacific region is expected to be the fastest growing market for patient centered medical home during the forecast period. This is due to increasing healthcare expenditure, rapid urbanization, growing incidence of chronic diseases, and government initiatives to strengthen primary care systems in countries like India, China, and Japan.
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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)
Patient Centered Medical Home (PCMH) Recognition is the model for transforming primary care practices into coordinated care.Arrowhead Health Centers is achieve this through high level of accessibility, excellent communication among patients & staff, teamwork, and technology.Learn more about PCMH here - https://bit.ly/2U14AE4
