Care Management Solutions Market Insights, Share, Growth Drivers and Forecast by 2024

The growth of global care management solutions market is led by growing geriatric population, increasing demand for quality of care and increasing government initiatives to promote patient-centric care, increasing prevalence of chronic diseases, advancing IT and big data capabilities and growing medical tourism. Initiatives to move the burden of threat from healthcare payers to providers and need to reduce healthcare cost are further expected to boost the demand of these solutions. The fastest increase in demand of care management solutions during the forecast period is expected to be witnessed in chronic care management segment, due to increasing demand of improving quality of care and save time for providers.

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Based on component, software segment leads the global market in terms of size, due to technological advancement in IT solution, growth of cloud computing and increased access of internet across the globe.

Increasing prevalence of chronic diseases is driving the growth of the global care management solutions market due to increasing demand for quality of care. The prevalence of chronic diseases, such as heart disease, cancer, stroke and respiratory disease, are increasing due to the alteration in lifestyle and lack of access to preventive care. According to the Centers for Disease Control and Prevention (CDC), approximately 117 million people in the U.S. had one or more chronic health conditions in 2012.

Geographically, North America has been the largest market for care management solution, owing to growing geriatric population, developed healthcare infrastructure and shift of risk burden from payers to provider in the region. The U.S. contributed largest revenue to the North American as well as global care management solutions market. The increasing initiatives to improve the quality of service delivery, and increasing prevalence of chronic diseases are the key growth driving factor for the U.S. care management solutions market.

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Globally, the care management solutions market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to improving healthcare infrastructure, increasing awareness of care management solution, increasing prevalence of chronic diseases, and growing geriatric population in the region.

The key players operating in the global market are Allscripts Healthcare solutions Inc., Cerner Corporation, Epic Corporation, Inc., Wellentive Inc., I2I System Inc, and IBM Corporation.

Source: P&S Intelligence