Wilmington, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) -- As per the latest report published by Allied Market Research, the global care management solutions market size is anticipated to generate $25.7 billion by 2031. The industry has garnered the revenue of $9.3 billion in 2021 and is projected to cite a notable CAGR of 10.7% from 2022 to 2031. The report offers an extensive analysis of successful strategies, prime investment opportunities, driving factors, market size estimations, prospects, the competitive environment, and emerging market trends. This market study serves as a valuable source of information for industry leaders, newcomers, investors, and stakeholders to formulate future strategies and enhance their market positioning.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $9.3 Billion |
| Market Size in 2031 | $25.7 Billion |
| CAGR | 10.7% |
| No. of Pages in Report | 315 |
| Segments Covered | Component, Mode of Delivery, End User, Application, and Region. |
| Drivers | Rise in the geriatric population and increase in use of care management solutions for chronic care management |
| Restraints | Fear of data security breach and dearth of skilled professionals |
| Opportunities | Surge in adoption of different strategies such as product development and team creation |
Recent Developments in the Care Management Solutions Market
- In April 2023, Medecision, a leading provider of digital care management solutions and services, announced the release of Aerial Social Care Coordinator, a cutting-edge solution designed to provide health plans and healthcare providers with immediate and invaluable insight into individuals’ social determinants of health (SDOH) barriers.
- In March 2023, Royal Philips, a global leader in health technology, announced the launch of Philips Virtual Care Management, a comprehensive portfolio of flexible solutions and services to help health systems, providers, payers and employer groups more meaningfully motivate and deeply connect with patients from virtually anywhere.
- In June 2022, Casenet announced the creation of the Advanced Solutions Unit, a cross-functional team of experts tasked with developing innovative population health products and services.
- In June 2021, Health Catalyst announced the launch of Value Optimizer, a new population health solution that quickly identifies highly valuable opportunities for value-based care (VBC) performance improvement.
- In Devember 2020, HealthEdge Software, Inc., provider of the industry’s leading integrated financial, administrative and clinical platform for health insurers, HealthRules Payor, announced that it has completed the acquisition of Altruista Health, Inc
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The report offers an extensive segmentation of the global care management solutions on the basis of component, mode of delivery, end user, application, and region. The report conducts a thorough analysis of various segments and their sub-segments, using both tabular and graphical representations. Investors and market participants can leverage this breakdown to formulate strategies, focusing on the segments that generate the highest revenue and exhibit the fastest growth, as outlined in the report.
In terms of component, the software segment generated the major share of nearly two-thirds of the global care management solutions market in 2021 and is estimated to lead the trail throughout the forecast timeframe. Also, the same segment would showcase the fastest growth with 11.1% CAGR from 2022 to 2031.
On the basis of mode of delivery, the on-premise segment grabbed the largest market share of more than half of the overall market share in 2021 and is projected to continue its supremacy from 2022 to 2031. The cloud-based segment, on the other hand, is expected to witness the fastest growth with 11.2% CAGR throughout the forecast timeframe.
Based on application, the disease management segment grabbed the highest share of more than half of the total market revenue in 2021. The same segment is projected to portray the highest CAGR of 11.0% throughout the forecast timeframe.
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The regional analysis in the report states that, the North America market for care management solutions dominated in terms of revenue in 2021, accounting for more than two-fifths of the global care management solutions market and is expected to lead the trail from 2022 to 2031. Moreover, the Asia-Pacific region would experience rapid growth with 13.2% CAGR during the forecast period. The report also analyzes markets across Europe and LAMEA regions.
The top market players profiled in the report involve, ZeOmega Inc., Medecision Inc., Allscripts Healthcare Solutions, Inc., i2i Systems Inc., Health Catalyst Inc., ExlService Holdings, Inc., Epic Systems Corporation, Cognizant, Cedar Gate Technologies, LLC, Casenet, LLC, AthenaHealth, and Altruista Health, Inc. These market players have adopted various strategies, such as expansions, partnerships, joint ventures, collaborations and more, to demonstrate their strength in the industry. The report is beneficial for assessing the product portfolio, business performance, advancements made by the top players, and operating segments.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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