Care Management Solutions Market
Care Management Solutions Market - Global Industry Assessment & Forecast
- By Component Software, Services
- By Delivery Mode On-Premise, Cloud-Based
- By Application Disease Management, Case Management, Utilization Management, Others
- By End User Payers, Providers, Other
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 12.4 Billion|
|Revenue 2028:||USD 23.3 Billion|
|Revenue CAGR (2022 - 2028):||11.1%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Global Care Management Solutions Market
Care Management Solutions Market- By Component, Delivery Mode, Application, and End User and Region.
The Global Care Management Solutions Market is valued at USD 12.4 Billion in the year 2021 and is forecasted to reach a value of USD 23.3 Billion by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 11.1% over the forecast period.
Care Management Solutions Market Size, 2021 To 2028 (USD Billion)
Care Management refers to a set of activities designed to improve patient care and reduce the demand for medical services by assisting patients and caregivers in managing health issues more efficiently. Many healthcare organizations are only beginning to join risk-based contracts in which they will be held accountable for providing treatment to specified patient populations while implementing excellent care management. An analytics-driven care management system is required to solve these difficulties by optimizing processes, predictively prioritizing daily activities for care team members, and steering activity to the areas that will positively influence the most patient lives in the most efficient way.
The market is predicted to increase as a result of the centralized approach to care management and integrated care for patients, which enhances the quality of life by preventing complications with early intervention of treatment. This reduces healthcare expenditures and eases the pressure on healthcare payers and providers. As a result, these factors are likely to drive the global expansion of the Care Management Solutions Market. Improved health through integrated Care Management Solutions and services, as well as developments in IT systems and healthcare technology, are expected to drive demand for care management systems and solutions.
Advances in information technology and healthcare technologies provide patient-centered treatment, and solutions support numerous directories, allowing healthcare professionals to work at multiple sites. All of these factors are accelerating the global adoption of healthcare solutions, fueling the demand for care management systems. The rising use of IoT (Internet of Things), Big Data, and Artificial Intelligence in many healthcare organizations is resulting in the convergence of technology and hospitals, which will increase demand for healthcare IT solutions in the coming years.
The Care Management Solutions Market is segmented on the basis of Component, Delivery Mode, Application, and End User. On the basis of Components, the market is categorized into Services and Software. On the basis of Delivery Mode, the market is segmented into Cloud-based, and On-Premise. On the basis of Application, the market is segmented into Disease Management, Case Management, Utilization Management, and Other Applications. On the basis of End Users, the market is segmented into Payers, Providers, and Other end-users.
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Based on Components:
On the basis of Components, the market is categorized into Services and Software. Software accounted for the biggest amount during the predicted period and is expected to maintain its dominance throughout the forecast period. Because of the simplicity of use and affordability of software, this segment is predicted to grow at the quickest rate over the projection period. Care is coordinated and efficient thanks to software technologies. They help clinicians diagnose patients more accurately, monitor vital signs and medications, prevent surgical errors, and collect digital data for clinical research. One such example is the iPro Anesthesia platform.
Based on Delivery Mode:
On the basis of Delivery Mode, the market is categorized into Cloud-based, and On-Premise. During the forecast period, the web-based sector had the largest share, while cloud-based products are expected to grow at the fastest rate. Cloud-based solutions provide greater flexibility, are easier to scale up in response to patient demand and are less expensive than earlier methods of delivery. These causes are largely to blame for the segment's strong growth until 2025. Electronic health records are also being used more frequently by healthcare practitioners to improve accessibility, security, and storage capacity. Cloud-based services also result in substantial cost savings.
North America is predicted to achieve the largest market share in 2021.
The rising use of Care Management Solutions by healthcare providers and payers to accomplish the healthcare goals of improved quality care and lower healthcare costs can be due to the substantial proportion of North America. Currently, the Care Management Solutions Market in the United States is expected to develop the fastest in North America throughout the estimated period. This is attributed to the increasing adoption of patient care solutions that assist healthcare professionals in reaching healthcare goals of better-quality care and cheaper costs. Rising usage of cloud-based solutions, medical technological breakthroughs, an aging population, and more patient care awareness is driving market expansion in the country.
The key players in the Global Care Management Solutions Market include- EXL Service Holdings Inc. (US), Casenet LLC (US), Medecision Inc. (US), ZeOmega Inc. (US), Cognizant Technology Solutions (US), Cerner Corporation (US), Allscripts Healthcare Solutions Inc. (US), Epic Systems Corporation (US) and others.
Segmentation of the Global Care Management Solutions Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
The global Care Management Solutions valued at USD 12.4 Billion in 2020 and is expected to reach USD 23.3 Billion in 2028 growing at a CAGR of 11.1%.
The prominent players in the market are EXL Service Holdings Inc. (US), Casenet LLC (US), Medecision Inc. (US), ZeOmega Inc. (US), Cognizant Technology Solutions (US), Cerner Corporation (US), Allscripts Healthcare Solutions Inc. (US), Epic Systems Corporation (US).
The market is project to grow at a CAGR of 11.1% between 2021 and 2028.
The driving factors of the Care Management Solutions include
- Implementation of initiatives to shift the burden of risk from healthcare payers to providers
North America was the leading regional segment of the Care Management Solutions in 2020.