USD 10.04 billion
Care Management Solutions Market Size, Share, Growth Analysis, By Component(Software and Services), By Mode of Delivery(Web-based, Cloud-based, and on premise), By Application(Disease Management, Case Management, Utilization Management, and Others), By End User(Healthcare providers, and Healthcare payers.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2091 |
Region:
Global |
Published Date: July, 2024
Pages:
237
|Tables:
115
|Figures:
77
Care Management Solutions Market Insights
Care Management Solutions Market size was valued at USD 10.04 billion in 2019 and is poised to grow from USD 11.5 billion in 2023 to USD 33.74 billion by 2031, growing at a CAGR of 14.4% in the forecast period (2024-2031).
Care management is the term for a group of activities designed to enhance patient care and save medical expenses by helping patients and caregivers better manage their health issues. A smart care management solution includes a complete range of features as standard, enabling healthcare organisations to improve patient outcomes while cutting costs. Examples of this include care coordination, population health management, and electronic medical records. Many companies are quite skilled at care management, yet they rely on non-scalable commercial or homegrown solutions.
The global market is growing as a result of the convergence of all costs made possible by care management solutions. A variety of factors, including the introduction of government regulations encouraging the adoption of HCIT solutions and higher government healthcare spending, are fueling the growth of the market in Asia. As the global population ages and chronic diseases increase in prevalence, care management solutions are becoming more and more crucial.
US Care Management Solutions Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
14.4% CAGR
Global Care Management Solutions Market ($ Bn)
Country Share for North America Region (%)
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Care Management Solutions Market Segmental Analysis
Global Care Management Solutions Market is segmented based on the Component, Mode of Delivery, Application, End User, and region. Based on Component, Global market is segmented into Software and Services. Based on the Mode of Delivery, the market is segmented into Web-based, Cloud-based, and on premise. Based on the Application, it is segmented into Disease Management, Case Management, Utilization Management, and Others. Based on the End User, it is segmented into Healthcare providers, and Healthcare payers. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Care Management Solutions Market Analysis by Component
The market has been segmented into services and software on the basis of components. With a share of more than 57.50% in 2022, the software segment has been the largest company and is expected to take that position throughout the forecast period. During the anticipated time, the segment is also anticipated to grow the fastest. Software's user-friendliness and low cost might be credited for this. Coordinated and effective treatment is provided via software solutions. They help healthcare professionals accurately diagnose patients, keep track of a patient's vitals and drugs, reduce surgical mistake, and create digital data for clinical research. The demand for patient-centric software is increasing, healthcare facilities are spending more on IT solutions, and major players are concentrating more on improving their current software, which is driving the segment growth.
Care Management Solutions Market Analysis by Mode of Delivery
The market is split into web-based, cloud-based, and on-premise segments based on the mode of distribution. With a market share of 39.2% in 2022, the web-based sector led the sector. However, it is anticipated that the cloud-based category will grow at the quickest rate over the projected period. In comparison to traditional delivery methods, cloud-based software offers greater flexibility, is simple to scale up depending on the patient base, and is generally more economical. These elements are behind the segment's faster growth. Healthcare providers are increasingly implementing cloud-based EHR to increase accessibility, security, and storage capacity, which is propelling market expansion. Additionally, as the healthcare sector adopts cloud computing in the upcoming years, a greater need for cloud-based care management solutions is anticipated.
Global Care Management Solutions Market By Type
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Care Management Solutions Market Regional Insights
In terms of region, North America dominated the global care management solutions market. In North America, the U.S. dominates the market. The market in North America is expanding as a result of factors like increased awareness of patient care solutions, technical advancements, and rising acceptance of cutting-edge technology.
The care management solutions market is growing more rapidly in the Asia-Pacific region. Growing investments and partnerships between market participants are responsible for the expansion of the Asia-Pacific market. In order to integrate the iPro Anaesthesia platform throughout all of Sing Health’s facilities, Sing Health, a healthcare company with a Singaporean base, worked with Allscripts.
Global Care Management Solutions Market By Region
- Largest
- Fastest
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Care Management Solutions Market Dynamics
Care Management Solutions Market Drivers:
Implementation of initiatives to shift the burden of risk from healthcare payers to providers
- Numerous measures have been put in place on a global scale to shift the risk-bearing responsibility from healthcare payers to providers. This change encourages the implementation of healthcare information technology (HCIT) solutions to cut wasteful spending and improve the effectiveness of healthcare services. Additionally, alternative payment models including physician incentives, bundled payments, and customer incentives, among others, further support value-based care.
An increase in chronic diseases among the older Population
- The incidence of chronic diseases in old age, combined with the growing need for high-quality care for the older population, is fuelling the market for care management systems. Chronic diseases like heart disease, cancer, stroke, and respiratory disease are more prevalent as a result of lifestyle changes and the lack of access to preventive care.
Care Management Solutions Market Restraint:
Lack of Skilled Workforce
- Care management solutions are implemented in line with a variety of technologies and are successful with a developed and established IT infrastructure, which is lacking in the majority of healthcare systems worldwide. However, there is a lack of qualified personnel who could oversee and maintain such IT-based care management solutions. Through the projection period, this is anticipated to be a major restraint on the market potential for care management solutions.
Shortage of skilled professionals
- The operational use of care management solutions necessitates a robust IT infrastructure and assistance both inside and outside the company. Technical support is constantly required in a healthcare company to maintain the network and server for optimal care management speed solutions and efficient work flow.
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Care Management Solutions Market Competitive Landscape
There are a number of major players in the fragmented and competitive market for care management solutions. The market is populated by major corporations like Allscripts Healthcare Solutions, Axis point Health, EPIC Corporation Inc., Exl Healthcare, Health smart Holdings Inc., I2I Systems Inc., Me decision Inc., Phytel Inc. (IBM Corporation), TriZetto Corporation, Ze omega Inc., Centene Corporation (Evolve), InfoMC, Optum, Inc., and Care Harmony, Inc.
Care Management Solutions Market Top Player's Company Profiles
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- Koninklijke Philips N.V.
- Epic Systems Corporation
- IBM Corporation
- McKesson Corporation
- Athenahealth, Inc.
- Medecision, Inc.
- WellSky Corporation
- ZeOmega Inc.
- Allscripts Healthcare Solutions, Inc.
- EXL Healthcare
- Pegasystems Inc.
- Casenet, LLC
- Cognizant Technology Solutions Corporation
- Infosys Limited
- Health Catalyst, Inc.
- TriZetto Corporation
- Wipro Limited
- Salesforce.com, Inc.
Care Management Solutions Market Recent Developments
- In April 2022, Turning Point Healthcare Solutions unveiled Turning Point Digital Joint and Spine, a comprehensive musculoskeletal (MSK) management platform that streamlines the full condition risk with a single partner, deepens patient access and support, and advances care management upstream.
- In February 2022, to assist people in improving their health outcomes while managing numerous chronic conditions, Teladoc Health, Inc. introduced the Chronic Care Complete, a ground-breaking chronic condition management solution. In addition to connected health monitoring devices, access to health coaches, and, if needed, assistance from doctors and mental health professionals, the solution gives members a single, holistic experience.
Care Management Solutions Key Market Trends
- The capacity of disease management solutions to lower healthcare costs through protocol management and prevent disease through comprehensive medical management is credited with the strong growth of this market. The majority of healthcare spending goes toward treating people with chronic disease conditions; as a result, disease management lowers inpatient and outpatient expenses. Furthermore, the chronic care management segment is anticipated to expand significantly over the course of the forecast period due to rising chronic disease prevalence and increased awareness. Disease management is the idea that by preventing or minimising the effects of a disease through integrated care, healthcare costs can be reduced and the quality of life for people with chronic illnesses can be improved. The management of diseases has become a promising strategy for improving care for patients with chronic illnesses.
Care Management Solutions Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global care management systems market analysis, the market is anticipated to expand faster as a result of a growing senior population and the burden of recurring illnesses. Treatment management solutions supply a means to cut healthcare expenditures and government enterprise to promote case-centric care with the perpetration of enterprise to move the load of threat towards healthcare providers from healthcare payers.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.04 billion |
| Market size value in 2031 | USD 33.74 billion |
| Growth Rate | 14.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Care Management Solutions Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Care Management Solutions Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Care Management Solutions Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Care Management Solutions Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Care Management Solutions Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Care Management Solutions Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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