Care Management Solution Market Forecasts to 2028 - Global Analysis By Component (Services, Software), Delivery Mode (Cloud-based and Web-based, On-premises), Application (Case Management, Disease Management, Utilization Management, Chronic Care Management, Other Applications), End User (Healthcare Providers, Healthcare Payers, Other End Users and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $14.29 BN |
|
Projected Year Value (2028) |
US $30.39 BN |
|
CAGR (2022 - 2028) |
13.39% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Care Management Solution Market is accounted for $14.29 billion in 2022 and is expected to reach $30.39 billion by 2028 growing at a CAGR of 13.39% during the forecast period. Care management refers to a range of initiatives designed to improve patient care and reduce the need for medical services by assisting patients and carers in effectively managing their health problems.
According to WHO, chronic diseases kill 41 million people each year, accounting for 71% of all deaths worldwide. Developing countries will bear 60% of the global burden of chronic diseases. The majority of NCD deaths (17.9 million per year) are caused by cardiovascular diseases, followed by cancers (9.3 million), respiratory diseases (4.1 million), and diabetes (1.5 million). Global economic growth in 2017 increased to 3.74%, up from 3.27% the previous year.
Market Dynamics:
Driver:
Implementation of initiatives
Internationally, a variety of initiatives are being executed to move the trouble of risk bear by healthcare payers to providers. This move encourages the agreement of healthcare information technology (HCIT) solutions to boost the competence of healthcare supplied and decrease needless expenses. Value based care is as well endorsed during choice payment models like bundled payments, physician incentives, as well as consumer incentives, along with others. This model of payment is considered to cheer healthcare providers to recognize the responsibility of care delivered, consequently most important to the move of risk from payers to providers.
Restraint:
Shortage of skilled professionals
An effective IT infrastructure and IT support both inside the company and at the solution provider's end are necessary for the implementation of care management systems. There is a constant need for technological support in a healthcare organisation to maintain the server or network for the smooth functioning of clinical work streams and the best possible interoperability speed of care management systems. When the server or network's security is inadequate, screen loads develop that slowly down the actual clinical stream.
Opportunity:
Emerging countries offer high-growth potential
A number of features like the performance of government initiatives opinionated the adoption of HCIT solutions and rising government healthcare expenditure, are boosting the growth of this market. Technological advancements are in concert an input role as authorities are concentrating on reforming the country’s healthcare management division, which is at present face challenges like underfunded rural health centres, overburdened city hospitals, along with a nationwide lack of doctors. The Indian government commenced the Digital India campaign to make sure that government services are completed obtainable to citizens by electronic means by recovering IT infrastructure also getting better internet connectivity in the country.
Threat:
Data breaches and loss of confidentiality
The digitalization of medical or patient data has increased data obligations and hazards as well as the likelihood of data breaches. This may be mostly due to a lack of internal controls over patient information, adherence to ineffective or outdated rules and processes, and insufficient staff training. The acceptance of HCIT solutions in the short-term waiting phase are engaged to solve current concerns may be influenced by the likelihood of privacy and security breaches related to digitalization. As a result, this can unhelpfully drive the market to grow.
Covid-19 Impact
Owed to the COVID-19 deadly disease, healthcare facilities all over the world have been snowed under by the huge number of patients visiting them every day. The increasing prevalence of COVID-19 boosts the demand for exact diagnosis plus treatment devices in numerous countries. In this consider, care management solutions have confirmed to be very helpful, as they permit healthcare providers to flawlessly integrate solutions to healthcare payer solutions. As well, owing to lockdowns in addition to movement restrictions, the command for electronic data transfer plus claims management improved considerably in a number of countries in the preliminary months of the pandemic.
The software segment is expected to be the largest during the forecast period
The software segment is estimated to have a lucrative growth. Based on the component, the market is classified into Services and Software. The software segment is projected to control the global care management solutions market and most liable explanation for the majority of the share during the forecast period. Synchronized and well-organized care is facilitated through software solutions. They permit doctors to precisely diagnose patients, follow vital signs and medicines, diminish surgical mistakes, as well as make available digital records for clinical research. Furthermore, owing to the simplicity of use and manage to pay for software, this category is anticipated to boost rapidly all over the forecast period.
The healthcare payers segment is expected to have the highest CAGR during the forecast period
The healthcare payers segment is anticipated to witness the fastest CAGR growth during the forecast period. Based on the end-user, the market is segmented into Healthcare Providers, Healthcare Payers and Other end users. The segment growth is credited to the mounting patient population base, increasing patient centre care, getting better healthcare services, and growing need for faster services. Healthcare payers utilize statistical as well as clinical models. Widespread data analyses aid them in detecting members with detailed chronic illnesses and developing the mainly suitable patient care management plans. It also assists in the development of healthcare management programs' efficiency.
Region with highest share:
North America is anticipated to hold the highest share during the forecast period owing to the improved implementation of care management solutions by healthcare providers and payers to assemble the healthcare goals of enhanced quality care and inferior healthcare costs. The rising healthcare costs have produced a serious need to save costs while increasing treatment quality. To achieve these ambitions, healthcare professionals rely on care management technologies. The completeness, all surrounding character, and investigative abilities of an optimal solution are all features to think about.
Region with highest CAGR:
Asia Pacific care management solutions market is one of the fastest-growing CAGR during the forecast period due to getting better healthcare infrastructure, fast economic improvement region. The Asia Pacific regional expansion is boosted by increased interest and investment from most important industry players and uninterrupted collaborative initiatives. The compassionate government funds in addition to recovering the healthcare sector and raising consciousness about patient care management are main contributors to the regional market's growth. Increasing interest along with investments by well-known industry players and incomplete collaborative efforts are accountable for regional growth.
Key players in the market
Some of the key players profiled in the Care Management Solution Market include Cognizant, Allscripts Healthcare Solutions, Inc., EXL Service Holdings Inc., Philips, Wipro Limited, Epic Systems Corporation, TCS Healthcare Technologies, IBM Corporation, Medecision , Cerner Corporation, Jiva Interoperability solutions , Koninklijke Philips N.V., Pegasystems Inc and ZeOmega.
Key Developments:
In January 2021, Philips acquired Capsule Technologies, Inc. Capsule’s platform captures streaming clinical data and transforms it into actionable information for patient care management to enhance patient outcomes, improve collaboration between care teams, streamline clinical workflows and increase productivity
In August 2020, Jiva Interoperability solutions for population health management launched ZeOmega. It is a set of services and connectivity tools designed to help organisations comply with the CMS and OMS interoperability and patient access final rule’s requirements for provider directory, patient access, and payer-to-payer data exchange.
Components Covered:
• Services
• Software
Delivery Modes Covered:
• Cloud-based and Web-based
• On-premises
Applications Covered:
• Case Management
• Disease Management
• Utilization Management
• Chronic Care Management
• Other Applications
End Users Covered:
• Healthcare Providers
• Healthcare Payers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Care Management Solution Market, By Component
5.1 Introduction
5.2 Services
5.3 Software
6 Global Care Management Solution Market, By Delivery Mode
6.1 Introduction
6.2 Cloud-based and Web-based
6.3 On-premises
7 Global Care Management Solution Market, By Application
7.1 Introduction
7.2 Case Management
7.3 Disease Management
7.4 Utilization Management
7.5 Chronic Care Management
7.6 Other Applications
8 Global Care Management Solution Market, By End User
8.1 Introduction
8.2 Healthcare Providers
8.3 Healthcare Payers
8.4 Other End Users
9 Global Care Management Solution Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Cognizant
11.2 Allscripts Healthcare Solutions, Inc.
11.3 EXL Service Holdings Inc.
11.4 Philips
11.5 Wipro Limited
11.6 Epic Systems Corporation
11.7 TCS Healthcare Technologies
11.8 IBM Corporation
11.9 Medecision
11.10 Cerner Corporation
11.11 Jiva Interoperability solutions
11.12 Koninklijke Philips N.V.
11.13 Pegasystems Inc
11.14 ZeOmega
List of Tables
1 Global Care Management Solution Market Outlook, By Region (2020-2028) ($MN)
2 Global Care Management Solution Market Outlook, By Component (2020-2028) ($MN)
3 Global Care Management Solution Market Outlook, By Services (2020-2028) ($MN)
4 Global Care Management Solution Market Outlook, By Software (2020-2028) ($MN)
5 Global Care Management Solution Market Outlook, By Delivery Mode (2020-2028) ($MN)
6 Global Care Management Solution Market Outlook, By Cloud-based and Web-based (2020-2028) ($MN)
7 Global Care Management Solution Market Outlook, By On-premises (2020-2028) ($MN)
8 Global Care Management Solution Market Outlook, By Application (2020-2028) ($MN)
9 Global Care Management Solution Market Outlook, By Case Management (2020-2028) ($MN)
10 Global Care Management Solution Market Outlook, By Disease Management (2020-2028) ($MN)
11 Global Care Management Solution Market Outlook, By Utilization Management (2020-2028) ($MN)
12 Global Care Management Solution Market Outlook, By Chronic Care Management (2020-2028) ($MN)
13 Global Care Management Solution Market Outlook, By Other Applications (2020-2028) ($MN)
14 Global Care Management Solution Market Outlook, By End User (2020-2028) ($MN)
15 Global Care Management Solution Market Outlook, By Healthcare Providers (2020-2028) ($MN)
16 Global Care Management Solution Market Outlook, By Healthcare Payers (2020-2028) ($MN)
17 Global Care Management Solution Market Outlook, By Other End Users (2020-2028) ($MN)
18 North America Care Management Solution Market Outlook, By Country (2020-2028) ($MN)
19 North America Care Management Solution Market Outlook, By Component (2020-2028) ($MN)
20 North America Care Management Solution Market Outlook, By Services (2020-2028) ($MN)
21 North America Care Management Solution Market Outlook, By Software (2020-2028) ($MN)
22 North America Care Management Solution Market Outlook, By Delivery Mode (2020-2028) ($MN)
23 North America Care Management Solution Market Outlook, By Cloud-based and Web-based (2020-2028) ($MN)
24 North America Care Management Solution Market Outlook, By On-premises (2020-2028) ($MN)
25 North America Care Management Solution Market Outlook, By Application (2020-2028) ($MN)
26 North America Care Management Solution Market Outlook, By Case Management (2020-2028) ($MN)
27 North America Care Management Solution Market Outlook, By Disease Management (2020-2028) ($MN)
28 North America Care Management Solution Market Outlook, By Utilization Management (2020-2028) ($MN)
29 North America Care Management Solution Market Outlook, By Chronic Care Management (2020-2028) ($MN)
30 North America Care Management Solution Market Outlook, By Other Applications (2020-2028) ($MN)
31 North America Care Management Solution Market Outlook, By End User (2020-2028) ($MN)
32 North America Care Management Solution Market Outlook, By Healthcare Providers (2020-2028) ($MN)
33 North America Care Management Solution Market Outlook, By Healthcare Payers (2020-2028) ($MN)
34 North America Care Management Solution Market Outlook, By Other End Users (2020-2028) ($MN)
35 Europe Care Management Solution Market Outlook, By Country (2020-2028) ($MN)
36 Europe Care Management Solution Market Outlook, By Component (2020-2028) ($MN)
37 Europe Care Management Solution Market Outlook, By Services (2020-2028) ($MN)
38 Europe Care Management Solution Market Outlook, By Software (2020-2028) ($MN)
39 Europe Care Management Solution Market Outlook, By Delivery Mode (2020-2028) ($MN)
40 Europe Care Management Solution Market Outlook, By Cloud-based and Web-based (2020-2028) ($MN)
41 Europe Care Management Solution Market Outlook, By On-premises (2020-2028) ($MN)
42 Europe Care Management Solution Market Outlook, By Application (2020-2028) ($MN)
43 Europe Care Management Solution Market Outlook, By Case Management (2020-2028) ($MN)
44 Europe Care Management Solution Market Outlook, By Disease Management (2020-2028) ($MN)
45 Europe Care Management Solution Market Outlook, By Utilization Management (2020-2028) ($MN)
46 Europe Care Management Solution Market Outlook, By Chronic Care Management (2020-2028) ($MN)
47 Europe Care Management Solution Market Outlook, By Other Applications (2020-2028) ($MN)
48 Europe Care Management Solution Market Outlook, By End User (2020-2028) ($MN)
49 Europe Care Management Solution Market Outlook, By Healthcare Providers (2020-2028) ($MN)
50 Europe Care Management Solution Market Outlook, By Healthcare Payers (2020-2028) ($MN)
51 Europe Care Management Solution Market Outlook, By Other End Users (2020-2028) ($MN)
52 Asia Pacific Care Management Solution Market Outlook, By Country (2020-2028) ($MN)
53 Asia Pacific Care Management Solution Market Outlook, By Component (2020-2028) ($MN)
54 Asia Pacific Care Management Solution Market Outlook, By Services (2020-2028) ($MN)
55 Asia Pacific Care Management Solution Market Outlook, By Software (2020-2028) ($MN)
56 Asia Pacific Care Management Solution Market Outlook, By Delivery Mode (2020-2028) ($MN)
57 Asia Pacific Care Management Solution Market Outlook, By Cloud-based and Web-based (2020-2028) ($MN)
58 Asia Pacific Care Management Solution Market Outlook, By On-premises (2020-2028) ($MN)
59 Asia Pacific Care Management Solution Market Outlook, By Application (2020-2028) ($MN)
60 Asia Pacific Care Management Solution Market Outlook, By Case Management (2020-2028) ($MN)
61 Asia Pacific Care Management Solution Market Outlook, By Disease Management (2020-2028) ($MN)
62 Asia Pacific Care Management Solution Market Outlook, By Utilization Management (2020-2028) ($MN)
63 Asia Pacific Care Management Solution Market Outlook, By Chronic Care Management (2020-2028) ($MN)
64 Asia Pacific Care Management Solution Market Outlook, By Other Applications (2020-2028) ($MN)
65 Asia Pacific Care Management Solution Market Outlook, By End User (2020-2028) ($MN)
66 Asia Pacific Care Management Solution Market Outlook, By Healthcare Providers (2020-2028) ($MN)
67 Asia Pacific Care Management Solution Market Outlook, By Healthcare Payers (2020-2028) ($MN)
68 Asia Pacific Care Management Solution Market Outlook, By Other End Users (2020-2028) ($MN)
69 South America Care Management Solution Market Outlook, By Country (2020-2028) ($MN)
70 South America Care Management Solution Market Outlook, By Component (2020-2028) ($MN)
71 South America Care Management Solution Market Outlook, By Services (2020-2028) ($MN)
72 South America Care Management Solution Market Outlook, By Software (2020-2028) ($MN)
73 South America Care Management Solution Market Outlook, By Delivery Mode (2020-2028) ($MN)
74 South America Care Management Solution Market Outlook, By Cloud-based and Web-based (2020-2028) ($MN)
75 South America Care Management Solution Market Outlook, By On-premises (2020-2028) ($MN)
76 South America Care Management Solution Market Outlook, By Application (2020-2028) ($MN)
77 South America Care Management Solution Market Outlook, By Case Management (2020-2028) ($MN)
78 South America Care Management Solution Market Outlook, By Disease Management (2020-2028) ($MN)
79 South America Care Management Solution Market Outlook, By Utilization Management (2020-2028) ($MN)
80 South America Care Management Solution Market Outlook, By Chronic Care Management (2020-2028) ($MN)
81 South America Care Management Solution Market Outlook, By Other Applications (2020-2028) ($MN)
82 South America Care Management Solution Market Outlook, By End User (2020-2028) ($MN)
83 South America Care Management Solution Market Outlook, By Healthcare Providers (2020-2028) ($MN)
84 South America Care Management Solution Market Outlook, By Healthcare Payers (2020-2028) ($MN)
85 South America Care Management Solution Market Outlook, By Other End Users (2020-2028) ($MN)
86 Middle East & Africa Care Management Solution Market Outlook, By Country (2020-2028) ($MN)
87 Middle East & Africa Care Management Solution Market Outlook, By Component (2020-2028) ($MN)
88 Middle East & Africa Care Management Solution Market Outlook, By Services (2020-2028) ($MN)
89 Middle East & Africa Care Management Solution Market Outlook, By Software (2020-2028) ($MN)
90 Middle East & Africa Care Management Solution Market Outlook, By Delivery Mode (2020-2028) ($MN)
91 Middle East & Africa Care Management Solution Market Outlook, By Cloud-based and Web-based (2020-2028) ($MN)
92 Middle East & Africa Care Management Solution Market Outlook, By On-premises (2020-2028) ($MN)
93 Middle East & Africa Care Management Solution Market Outlook, By Application (2020-2028) ($MN)
94 Middle East & Africa Care Management Solution Market Outlook, By Case Management (2020-2028) ($MN)
95 Middle East & Africa Care Management Solution Market Outlook, By Disease Management (2020-2028) ($MN)
96 Middle East & Africa Care Management Solution Market Outlook, By Utilization Management (2020-2028) ($MN)
97 Middle East & Africa Care Management Solution Market Outlook, By Chronic Care Management (2020-2028) ($MN)
98 Middle East & Africa Care Management Solution Market Outlook, By Other Applications (2020-2028) ($MN)
99 Middle East & Africa Care Management Solution Market Outlook, By End User (2020-2028) ($MN)
100 Middle East & Africa Care Management Solution Market Outlook, By Healthcare Providers (2020-2028) ($MN)
101 Middle East & Africa Care Management Solution Market Outlook, By Healthcare Payers (2020-2028) ($MN)
102 Middle East & Africa Care Management Solution Market Outlook, By Other end users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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