The Latin America, Middle East and Africa Referral Management Market would witness market growth of 16.0% CAGR during the forecast period (2022-2028).
Profitable growth will result from the rising prevalence of chronic diseases among a sizeable portion of the world's population. Additionally, the projected period will see a tremendous increase due to the growing emphasis on expediting the patient referral process. Pandemics and epidemics also engrave the requirement of a prominent referral management system. For example, the COVID-19 pandemic caused increased discomfort in patients with underlying health issues.
The lack of proper referral mechanism then, forced hospitals to stop considering vulnerable patients as they neither had space, nor the providers. A referral management system would have diverted at least half of that traffic without compromising the efficacy of providers. The referral management market is bound to grow further as healthcare services change and adapt for good. Due to the continuous integration of IT services and technology into healthcare solutions, there is a rising demand for the referral management system.
In the COVID-19 scenario, the pandemic was fueled by pervasive inequality and poverty. These illnesses are prevalent in Latin America (LA), where the situation is especially concerning due to the regional prevalence of chronic and metabolic diseases as well as the region's unique health systems. In 2016, the World Health Organization (WHO) reported that 62.8% of men and 59.8% of women in adults in Latin America were overweight or obese. Poverty is linked to obesity, which is a risk factor for nonalcoholic fatty liver disease (NAFLD) and has a close connection to chronic, low-grade inflammation.
The Brazil market dominated the LAMEA Referral Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $109.2 million by 2028. The Argentina market is experiencing a CAGR of 16.6% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 15.7% during (2022 - 2028).
Based on Type, the market is segmented into Inbound Referrals and Outbound Referrals. Based on Component, the market is segmented into Software and Services. Based on Mode of Delivery, the market is segmented into Cloud-based and On-premise. Based on End User, the market is segmented into Providers, Payers, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Referral Management Market is Predict to reach $6.4 Billion by 2028, at a CAGR of 12.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GetWellNetwork, Inc., Epic Systems Corporation, Oracle Corporation (Cerner Corporation), CarePort Health (WellSky Corporation), eHealth Technologies, Inc., UnitedHealth Group, Inc. (Optum, Inc.), Persistent Systems Limited, Cloudmed (R1 RCM, Inc.), EcoSoft Health, and ReferWell.
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