Global Chronic Disease Management Market, By Type (Solution and Services), Solution Type (On-Premise Solution, Cloud-Based Solution, and Web-Based), Service Type (Educational Service, Implementation Service, Consulting Service, and Others), Disease Indication (Cardiovascular Diseases (CVD), Diabetes, Chronic Obstructive Pulmonary Disorders (COPD), Arthritis, Asthma, Cancer, and Others), End User (Healthcare Providers, Healthcare Payers, and Others) – Industry Trends and Forecast to 2030.
Chronic Disease Management Market Analysis and Size
Globally, chronic diseases are the primary cause of mortality and disability. They are long-term progressive ailments that are among the most expensive and common healthcare challenges in the world. Chronic disease management is a sort of digital healthcare service that assists healthcare providers in providing educational information to their patients and the implementation of patient and illness-specific treatment alternatives and regimens.
Data Bridge Market Research analyzes that the global chronic disease management market which was USD 6.17 billion in 2022, would rocket up to USD 20.64 billion by 2030, and is expected to undergo a CAGR of 16.3% during the forecast period.
The solutions segment is expected to dominate the type segment of the global chronic disease management market owing to the growing geriatric population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Chronic Disease Management Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015-2020)
Revenue in USD Million, Volumes in Units, Pricing in USD
By Type (Solution and Services), Solution Type (On-Premise Solution, Cloud-Based Solution, and Web-Based), Service Type (Educational Service, Implementation Service, Consulting Service, and Others), Disease Indication (Cardiovascular Diseases (CVD), Diabetes, Chronic Obstructive Pulmonary Disorders (COPD), Arthritis, Asthma, Cancer, and Others), End User (Healthcare Providers, Healthcare Payers, and Others)
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America
Market Players Covered
WellSky (U.S.), ZeOmega (India), Health Catalyst (U.S.), Cedar Gate Technologies (U.S.), Cognizant (U.S.), Pegasystems Inc. (U.S.), Epic Systems Corporation (U.S.), Hinduja Global Solutions Ltd. (India), NXGN Management, LLC (U.S.), MINES & Associates, Inc. (U.S.), Casenet, LLC (U.S.), ExlServings Holdings, Inc. (U.S.), cliexa, Inc. (U.S.), ScienceSoft USA Corporation (U.S.), Vivify Health, Inc. (U.S.), Allscripts Healthcare, LLC (U.S.), Infosys Limited (India), Medecision (U.S.), IBM (U.S.), Altruista Health (U.S.), and TCS Healthcare Technologies (U.S.) among others
Chronic Disease Management (CDM) is a type of long-term care and support that provides people with chronic illness with the medical treatment, knowledge, skills, and resources they need to manage their condition. Various software and services are mostly responsible for it. By avoiding or decreasing the consequences of the disease through integrated care, CDM aids in lowering healthcare expenditures and enhancing the quality of life for those with chronic illnesses.
Global Chronic Disease Management Market Dynamics
- Increasing prevalence of chronic diseases
Chronic Disease Management (CDM) is ongoing care and support to assist individuals impacted by a chronic health condition with medical care, knowledge, skills, and resources they need to better manage their health condition on a day-to-day basis. Chronic diseases include asthma, COPD, lung-related disorders brain injury, and others. Increasing cases of chronic diseases have created a positive impact in increasing the usage of CDM services and solutions. CDM assists with medication adherence and provides patient care. Thus, the increase in the incidence rates of chronic diseases is expected to drive market growth.
- Growing geriatric population
Aging is a strong risk factor for many chronic diseases. The geriatric population requires more medical services relative to the adult age group. The old population is suffering from various chronic health problems and diseases due to which they are the predominant users of chronic health management services and solutions. The growing pace of the geriatric population is demonstrating the escalation in the demand for CDM services and solutions. Owing to this, it is estimated that the growing geriatric population is expected to drive market growth.
- Rising per capita income
Over the past few decades, per capita income has risen substantially in developed and developing countries. Growing per capita income is expected to increase the affordability of patients for opting advanced services for better management of their chronic diseases. This is expected to increase the demand for CDM services and solutions. Recently, the per capita income is bolstering at a higher pace as compared to previous decades. Henceforth, growing per capita income in both developed and developing countries across the globe is expected to drive market growth.
- Advancement in healthcare infrastructure and initiatives by government organizations
Advancement in healthcare infrastructure is anticipated to provide precise and better patient services during CDM and establish a new healthcare delivery system. Further government bodies and healthcare organizations are supporting low and middle-income countries to develop healthcare infrastructure. Acceleration in technology development in the healthcare sector is significantly affecting the development of healthcare infrastructure.
- A surge in novel technological advancements
Chronic disease is considered one of the leading causes of death in emerging economies and developing countries worldwide. This increased the importance of CDM among public health practitioners. As technology advances, chronic disease patients with asthma, arthritis, and diabetes conditions are no longer treated in isolation. As technology is advancing rapidly, it is improving the way we manage chronic diseases such as diabetes and cardiovascular diseases among others. Recent healthcare monitoring applications and gadgets have enhanced the connection between patients and healthcare providers to update treatment plans and improve health outcomes. This creates a major opportunity for market growth.
- Rising healthcare expenditure
The expense of money used by a country on its healthcare and its growth rate over time is inclined by a wide variety of economic and social factors including the financing arrangements and structure of the organization of the health system. Healthcare expenditure has increased across developed countries along with emerging economies as the disposable income of people is increasing. Hence, huge healthcare expenditure is a favorable factor for market growth.
- Increased reimbursement policies
Healthcare reimbursement is the process by which private health insurance and government agencies pay for healthcare services. Thus, the U.S. Centres for Medicare and Medicaid Services (CMS) have explained various reimbursement approaches for employees and employers with chronic conditions. Recently, physicians and non-physicians were eligible to generate invoices for CCM reimbursement for treatment or consultation. An average reimbursement expected for 50 patients with CDM services generates more than USD 2,000 per month. These affirmative factors enhance the opportunity for market growth.
- High cost of services
In the last few years, the U.S. FDA has authorized a huge number of advanced CDM solutions. This approved CDM solution has helped to improve the quality of patient’s life. Growing R&D costs and the expense of trials unfavorably affect the cost of final CDM solutions. The increasing cost of CDM solutions has a negative impact on the cost of overall disease treatment. Consequently, it may restrain the future demand for CDM solutions in low and middle-income countries. Thus, the high cost of CDM is expected to restrain market growth.
- Security concerns with cloud-based solutions
Lately, CDM is made easier with cloud-based remote patient care services. The cloud-based computing platform is still in its developing phase which is majorly used by healthcare and IT sectors. Various healthcare organizations are shifting to cloud adoption considering high data storage, workflow optimization, and cost-effectiveness. Thus, security issues faced by cloud-based premises for CDM services are expected to restrain the market growth.
- Lack of accessibility
The patient pool of chronic diseases is increasing in low and middle-income countries. The high prevalence of various chronic diseases such as diabetes, cancer, and cardiac diseases is disproportionately caused among the poverty-strick population. Sometimes, it becomes much more difficult for people to reach public health interventions due to a lack of awareness or knowledge. Accessibility to CDM services and solutions is crucial to provide better and more precise care to patients. Thus, it is predicted that poor accessibility of CDM services and solutions is the major factor expected to pose a challenge to market growth.
- The cost associated with biomarker discovery
The process of finding new biomarkers is labor and resource-intensive and frequently involves extensive study and testing. Biological samples from human subjects or animal models are frequently collected in the process of biomarker discovery. Collecting and processing these samples can be expensive, especially when dealing with large cohorts or rare disorders where sample availability is limited. It takes sophisticated bioinformatics tools and knowledge to manage the enormous amount of data generated during the biomarker discovery process. Analyzing, storing, and interpreting data from multiple sources can be time-consuming and expensive. These are the aspects that make the discovery expensive. This is expected to pose a challenge to market growth.
The global chronic disease management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyzes 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, and technological innovations in the market. To gain more info on the biomarkers market, contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
- In April 2021, WellSky announced the launch of an advanced home health visit management solution. CareInsights Guidance is a new component that gives actionable visit utilization insights to help balance treatment quality and patient health improvement. It is expected that the debut of this solution will help their patients and employees and boost the company's sales growth.
Global Chronic Disease Management Market Scope
The global chronic disease management market is segmented into five notable segments based on type, solution type, service type, disease indication, and end user. The growth amongst these segments will help you analyze meager 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.
- On-Premise Solution
- Cloud-Based Solution
- Educational Service
- Implementation Service
- Consulting Service
- Cardiovascular Diseases (CVD)
- Chronic Obstructive Pulmonary Disorders (COPD)
- Healthcare Providers
- Healthcare Payers
Global Chronic Disease Management Market Regional Analysis/Insights
The global chronic disease management market is analyzed and market size insights and trends are provided by country, type, solution type, service type, disease indication, and end user as referenced above.
The countries covered in this market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the global chronic disease management market due to the increasing geriatric population and the development of advanced technology in this region. In addition, the growing presence of major market players is expected to flourish the market's growth rate in this region.
Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 due to the increasing availability of CDM providers.
The country section of this market report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global chronic disease management market also provides a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the market. The data is available for the historic period 2010-2020.
Competitive Landscape and Global Chronic Disease Management Market Share Analysis
The global chronic disease management market competitive landscape provides details of competitors. 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, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major market players operating in the global chronic disease management market are:
- WellSky (U.S.)
- ZeOmega (India)
- Health Catalyst (U.S.)
- Cedar Gate Technologies (U.S.)
- Cognizant (U.S.)
- Pegasystems Inc. (U.S.)
- Epic Systems Corporation (U.S.)
- Hinduja Global Solutions Ltd. (India)
- NXGN Management, LLC (U.S.)
- MINES & Associates, Inc. (U.S.)
- Casenet, LLC (U.S.)
- ExlServings Holdings, Inc. (U.S.)
- cliexa, Inc. (U.S.)
- ScienceSoft USA Corporation (U.S.)
- Vivify Health, Inc. (U.S.)
- Allscripts Healthcare, LLC (U.S.)
- Infosys Limited (India)
- Medecision (U.S.)
- IBM (U.S.)
- Altruista Health (U.S.)
- TCS Healthcare Technologies (U.S.)