Global Care Management Solutions Market, By Component (Software, Services), Delivery mode (On-premise, Cloud-based, Web-based), Application (Disease Management, Case Management, Utilization Management, Other), End-User (Healthcare Payers, Healthcare Providers, Other) – Industry Trends and Forecast to 2030.
Care Management Solutions Market Analysis and Size
The care management solutions market is anticipated to grow due to the increasing elderly population and the burden of chronic diseases. According to the United States Census Bureau's 2021 senior report, more than 54 million adults aged 65 years and above live in the U.S., resulting in about 16.5% of the nation's population. Increasing implementation of initiatives to shift the burden of risk from healthcare payers to healthcare providers is the essential factor accelerating the market growth. It is witnessed that the disease management segment is seen to dominate the market growth for over many years.
Data Bridge Market Research analyses the care management solutions market growth rate in 2023-2030. The expected CAGR of the care management solutions market is around 14.4% in the mentioned forecast period. The market was valued at USD 11.5 billion in 2022 and would grow to USD 33.74 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Care Management Solutions Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Software, Services), Delivery mode (On-premise, Cloud-based, Web-based), Application (Disease Management, Case Management, Utilization Management, Other), End-User (Healthcare Payers, Healthcare Providers, Other)
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Countries Covered
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U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Casenet, LLC (U.S.), Medecision (U.S.), ZeOmega (India), Cognizant (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare, LLC (U.S.)., Epic Systems Corporation (U.S.), athenahealth, Inc. (U.S.), Koninklijke Philips N.V.(Netherlands)., IBM Corporation (U.S.), Health Catalyst (U.S.), General Electric (U.S.), i2i Systems (Turkey), Pegasystems Inc (U.S.)., McKesson Corporation (U.S.)., Ergomed plc (U.K.)
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Market Opportunities
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Market Definition
Care management solutions assist healthcare providers in managing data associated with their members. It also helps healthcare providers achieve their goals faster and make better decisions by offering population management solutions for checking costs. Government organizations, employer groups, and healthcare payers primarily use care management solutions to address healthcare management needs.
Care Management Solutions Market Dynamics
Drivers
- Increased Prevalence of Chronic Diseases
There is a surge in chronic diseases globally. As per the Global Cancer Observatory (Globocan) Statistics 2020, there were around 19.3 million new cancer cases globally, resulting for both sexes in 2020, and the number will reach 30.2 million by 2040. With the implementation of different initiatives to shift the burden of risk from healthcare payers to providers, care management solutions provide a means to decrease healthcare costs and multiple government initiatives to encourage patient-centric care. Thus, this is expected to boost market growth.
- Growing Strategic Initiatives Associated with Care Management Solutions
Different market players are taking several strategic initiatives to increase market growth. For example, MyHealthcare, a digital healthcare ecosystem provider, launched the MyHealthcare Enterprise Application (MHEA) for hospitals and healthcare institutions in 2022. The MyHealthcare Enterprise ecosystem is a single-screen hospital platform that includes AI-based Electronic Medical Records (EMRs) for outpatient (OP), inpatient (IP), and emergency room (ER). Thus, this boosts the market growth
Opportunities
- Increasing Number of Investments by Major Organizations
The increasing adoption of integrated health management services and other digital systems has increased the launch of new software. For instance, Health Catalyst, Inc., the provider of services and data analytics to healthcare organizations, launched a Care Management Suite, an analytical and patient-centric data-driven method. Furthermore, in 2022, CareCloud, Inc. launched a new service for chronic care management. Thus, this factor boosts market growth.
- Increasing Collaborations and Mergers Associated with Care Management Solutions
Major market players are boosting their growth through mergers, collaborations, and acquisitions. For instance, Microsoft Teams collaborated with Innovaccer to introduce its care management product in 2019. The seamless delivery of care is assured by this new system, which can let clinical teams communicate vital patient information in real-time. Thus, this factor helps in the growth of the market.
Restraints/Challenges
- Concerns Associated with Data Breaches
The care management solutions platform data is easily available because of a lack of internal control and inadequate policies and regulations. The confidentiality of information and data is very crucial. Therefore, concerns associated with data breaches limit the growth of the global care management solutions market. Thus, this factor restraints the market growth.
This care management solutions market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Care management solutions market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2022, TurningPoint Healthcare Solutions, announced the launch of TurningPoint Digital Joint and Spine which is a comprehensive musculoskeletal (MSK) management platform that moves care management upstream. It allows risk-bearing entities such as employers and health plans to streamline complete condition risk with a single partner.
- In 2022, Teladoc Health, Inc. launched the Chronic Care Complete which is the first chronic condition management solution to help individuals improve their health outcomes while suffering with multiple chronic conditions. The solution provides connected health monitoring devices, access to health coaches, and, when required, support from doctors and mental health specialists.
Global Care Management Solutions Market Scope
The care management solutions market is segmented on the basis of component, delivery mode, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Software
- Services
Delivery Mode
- On-premise
- Cloud-based
- Web-based
Application
- Disease Management
- Case Management
- Utilization Management
- Other
End-User
- Healthcare Payers
- Healthcare Providers
- Other
Care Management Solutions Market Regional Analysis/Insights
The care management solutions market is analyzed and market size insights and trends are provided by component, delivery mode, application and end user as referenced above.
The major countries covered in the care management solutions market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market due to the increasing advancements in IT solutions and the rise in demand for affordable and scalable solutions to restrain healthcare costs. Moreover, favorable government support in the region is also leading to the total market growth
Asia Pacific is projected to witness huge growth in the market because of the highest number of registered clinical trials associated with the therapies. Additionally, the substantial efforts on government investment and reforms are further estimated to boost the growth of the region's chimeric antigen receptor (CAR)-T cell therapy market in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Care Management Solutions Market Share Analysis
The care management solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related care management solutions market.
Key players operating in the care management solutions market include:
- Casenet®, LLC (U.S.)
- Medecision (U.S.),
- ZeOmega (India)
- Cognizant (U.S.)
- Cerner Corporation (U.S.)
- Allscripts Healthcare, LLC (U.S.)
- Epic Systems Corporation (U.S.)
- athenahealth, Inc. (U.S.)
- Koninklijke Philips N.V.(Netherlands).
- IBM Corporation (U.S.)
- Health Catalyst (U.S.)
- General Electric (U.S.)
- i2i Systems (Turkey)
- Pegasystems Inc (U.S.).
- McKesson Corporation (U.S.)
- Ergomed plc (U.K.)
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