Healthcare Navigation Platform Global Market Report 2024
Healthcare Navigation Platform Global Market Report 2024
The healthcare navigation platform market size has grown rapidly in recent years. It will grow from $10.73 billion in 2023 to $11.98 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. During the historic period, growth can be credited to several factors, including increased investments in digital healthcare, greater digitization of healthcare infrastructure, rising demand for advanced tests and point-of-care devices, government initiatives promoting the use of healthcare IT, and a heightened focus on remote healthcare delivery.The healthcare navigation platform market size is expected to see rapid growth in the next few years. It will grow to $18.69 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. In the forecast period, growth is expected to be driven by several factors, including the increased adoption of AI technology, rising uptake of digital health solutions, the growing complexity of the healthcare system, heightened awareness of the importance of patient engagement, and increased demand for healthcare navigation platforms. Major trends during this period include product launches, the adoption of electronic health records, the implementation of cloud-based healthcare navigation platforms, investments in digital health technologies, and advancements in artificial intelligence (AI) and machine learning (ML) technologies.The healthcare navigation platform market is poised for growth due to the increased emphasis on remote healthcare delivery. Remote healthcare delivery, also known as telehealth or telemedicine, involves providing healthcare services to patients regardless of their physical location. This trend is driven by socioeconomic factors, changing healthcare needs, and a shift towards patient-centered and efficient healthcare systems. Healthcare navigation platforms play a crucial role in supporting remote healthcare delivery by improving accessibility, efficiency, personalization, and care coordination. They serve as a vital link between patients and healthcare providers, ensuring effective and secure delivery of remote healthcare services. For example, according to the Organisation for Economic Co-operation and Development (OECD), teleconsultations doubled globally by 2021, with significant increases in countries such as Australia, Lithuania, and Slovenia, highlighting the growing importance of remote healthcare delivery.Leading companies in the healthcare navigation platform market are leveraging advanced technologies, such as digital front door technology, to enhance patient access, engagement, and care delivery. Digital front-door technology in healthcare refers to a holistic customer engagement approach that uses technology to improve the patient experience across different healthcare touchpoints. For instance, Orion Health, a New Zealand-based healthcare navigation platform provider, introduced the Virtuoso platform in September 2023. This platform features a multichannel interface that offers patients a centralized point of contact with the healthcare system. It includes an AI-powered symptom-assessment tool that guides users to relevant information and advice on available care options.In October 2023, Evernorth Health Services, a US-based technology company, acquired Bright.MD to enhance patient access to quality care, streamline clinician workflows, and improve patient-provider interactions. Bright.MD, a US-based telehealth platform company, specializes in healthcare navigation platforms, aligning with Evernorth's goal of advancing healthcare delivery and outcomes.Major companies operating in the healthcare navigation platform market are Alight Solutions LLC, Collective Health Inc., BenefitMall Inc., Sharecare Inc., Accolade Inc., Vera Whole Health Inc., Spring Health, Castlight Health Inc., Hinge Health Inc., Rally Health Inc., Benefitfocus Inc., Included Health LLC, Health Advocate Inc., Quantum Health, Welltok Inc., Grand Rounds Health, CloudMD Software Services Inc., HealthJoy, Maestro Health Inc., Buoy Health Inc., Evive, Brightside Health Inc., Springbuk Inc., PlanSource Inc., Accresa, Transparent Hands.North America was the largest region in the healthcare navigation platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare navigation platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The countries covered in the healthcare navigation platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.A healthcare navigation platform is a specialized system designed to simplify the complexities of the healthcare system, helping individuals make informed and cost-effective decisions about their healthcare needs. It assists users in understanding insurance plans, finding in-network providers, estimating costs, and connecting with healthcare experts for guidance throughout their healthcare journey.These platforms are primarily categorized as cloud-based or on-premises. Cloud-based deployment involves hosting the software and services remotely over the internet, rather than installing them on local servers or computers. It is utilized across various sectors, including healthcare for both humans and animals, and is adopted by different end-users such as large enterprises and small and medium enterprises (SMEs).The healthcare navigation platform market research report is one of a series of new reports that provides healthcare navigation platform market statistics, including healthcare navigation platform industry global market size, regional shares, competitors with a healthcare navigation platform market share, detailed healthcare navigation platform market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare navigation platform industry. This healthcare navigation platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD unless otherwise specified).The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.This product will be delivered within 3-5 business days.