Luton, Bedfordshire, United Kingdom, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Care Management Solutions Market.
The global care management solutions market is expected to grow at 14% CAGR from 2022 to 2029. It is expected to reach above USD 40.32 billion by 2029 from USD 12.4 billion in 2020.
Care Management Solutions Market Overview
Care management refers to a comprehensive suite of services and activities that help patients with chronic or complex conditions manage their health. Care management’s overarching goal is to improve patient health. To get there, the model also aims to improve care coordination, reduce hospital visits and boost patient engagement. Care management software can significantly support healthcare providers meet those goals.
Care management solutions such as integrated care management software suites, standalone software/ modules, and care management services are majorly used in hospitals and clinics. Disease management, utilization management, and case management modules enable healthcare organizations to track service deliveries, healthcare program engagements, attendance, service schedules, and more.
Rising digitization of clinical/medical information and growing adoption of care management software and care management services across the healthcare sector and by health insurance providers are expected to drive demand for care management solutions over the coming years.
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| Report Attributes | Details |
| Care Management Solutions Market Size (2020) | US$ 12.4 billion |
| Projected Market Value (2029) | US$ 40.32 billion |
| Global Market Growth Rate (2022-2029) | 14% CAGR |
| Market Share of Care Management Solutions Market | 39% North America |
| Key Companies Profiled | Cerner Corporation, IBM, Koninklijke Philips N.V., ZeOmega, i2i Population Health, EPIC Systems, Inc., Salesforce.com, Inc., Pegasystems Inc., Mediware Information Systems, Allscripts Healthcare Solutions, Inc and others. |
Benefits of care management
- Improved clinical outcomes
- Reduced use of high-cost acute care services
- More primary and/or preventive care visits
- Fewer duplicative tests and procedures
- Higher patient satisfaction
Care Management Solutions Market Segmentation Insights
By Component
- Software
- Services
The care management software segment will dominate the market and is expected to expand by 3.1 by 2030. However, the care management services segment is set to witness a higher growth rate of 19.6% CAGR during 2022-2030.
Advancements in IT systems and healthcare technologies play an important role in fuelling demand for digital healthcare IT platforms. Development in mobile health technology has emerged as a natural extension of a new generation of healthcare systems and IT platforms.
By Delivering Model
- On-Premise
- Web-Based
- Cloud-Based
On the basis of delivering, on-premise care management solutions will be a dominating segment. The market size of this is expected to expand by 3.1 by 2030. However, cloud-based care management solutions are set to register the highest growth at a CAGR of 20% during 2022-2030.
By Application
- Disease Management
- Case Management
- Utilization Management
By End-user
- Healthcare Providers
- Healthcare Payers
- Others
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The healthcare providers segment holds the largest market share in the global care management solutions market. The segment growth is attributed to the growing number of patients globally. In addition, the growing preference for quality health care is also driving the segment's growth.
Regional Insights
The U.S. care management solutions market is anticipated to constitute the highest growth over the forecasted period in North America, at 12.1% CAGR through 2030.
North America is the largest segment of the care management solutions market in terms of region. The U.S. is dominating the care management solutions market in the North American region.
The Indian market accounts for large care management solution consumption in the APAC region, with the market size expected to bloat by 7.9 by 2030. The market in India is expected to surge at 29.6% CAGR over the forecasted period owing to factors such as supportive healthcare regulations and advancements in healthcare technology.
The U.K. care management solutions market size is expected to expand by 2.9 by 2030, at around 12.7% CAGR during the 2022-2030 assessment period.
The U.K. market is expected to grow into one of the largest markets for chronic care management solutions in the European region. This is due to increasing government healthcare initiatives and rising aging population in the country.
Competitive Landscape
The care management solutions market key players include Cerner Corporation, IBM, Koninklijke Philips N.V., ZeOmega, i2i Population Health, EPIC Systems, Inc., Salesforce.com, Inc., Pegasystems Inc., Mediware Information Systems, Allscripts Healthcare Solutions, Inc, EXL Service Holdings, Inc., Casenet, LLC, Medecision Inc., Cognizant Technology Solutions, EXL Healthcare, Medecision
May 24, 2022: Meet ‘Moxi’ – ChristianaCare introduces an innovative collaborative robot to give nurses more time to deliver patient care.
Jan 19, 2021:Philips to expand its leadership in patient care management solutions for the hospital with the acquisition of Capsule Technologies, Inc.
In April 2022, TurningPoint Healthcare Solutions, announced TurningPoint Digital Joint and Spine, a comprehensive musculoskeletal (MSK) management platform that moves care management upstream, deepens patient access and support, and allows risk-bearing entities such as employers and health plans to streamline complete condition risk with a single partner.
In February 2022, Teladoc Health, Inc., launched Chronic Care Complete, a first-of-its-kind chronic condition management solution to help individuals improve their health outcomes while living with multiple chronic conditions. The solution offers members a unified, comprehensive experience that includes connected health monitoring devices, access to health coaches, and, when necessary, support from physicians and mental health specialists.
FAQS
- What is the current size of the care management solutions market?
- What are the key factors influencing the growth of care management solutions?
- What are the major applications for care management solutions?
- Who are the major key players in the care management solutions market?
- Which region will provide more business opportunities for care management solutions in the future?
- Which segment holds the maximum share of the care management solutions market?
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