PUBLISHER: Allied Market Research | PRODUCT CODE: 1140011
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140011
The global chronic disease management market was valued at $4,896.69 million in 2021 and is projected to reach $14,875.48 million by 2031, registering a CAGR of 11.8% from 2022 to 2031.
Chronic disease management is an integrated care approach to managing the illness, which includes screenings, check-ups, monitoring and coordinating treatment, and patient education. It can improve the quality of life, while reducing healthcare costs. Chronic disease management programs are designed to improve the health of individuals with chronic conditions and reduce associated costs from avoidable complications by identifying and treating chronic conditions more quickly and more effectively; thus slowing the progression of those diseases.
The key factors that drive the growth of the market are an increase in awareness regarding the healthcare management service and a rise in the prevalence of chronic diseases such as cancer, heart disease, diabetes, high blood pressure, and others. According to a report published by the World Health Organization, in 2021, non-communicable diseases (NCDs) killed around 41 million people each year, which was 71% of all deaths globally. Moreover, improved services by the service provider have increased the demand for chronic disease management services in the market. The growth in the medical tourism sector and the rise in healthcare IT solutions drive the growth of the chronic disease management market. However, a lack of skilled professionals and high cost of treatment, and high investment in the management system/tools hinder the growth of the market.
The chronic disease management market is segmented on the basis of type, disease type, end user, and region. By type, the market is bifurcated into solutions and services. The solution segment is further classified on the basis of an on-premise solution and a cloud-based solution. On the basis of service, the segment is segmented into educational service, implementation service, and consulting service. On the basis of disease type, the segment is divided into cardiovascular disease, diabetes, cancer, asthma, a chronic obstructive pulmonary disorder, and others. On the basis of end-user, the segment is divided into providers, payers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for a majority of the chronic disease management market share in 2021 and is anticipated to remain dominant during the forecast period. The factors, such as favorable regulatory scenario, pressure on healthcare institutions to reduce costs, and rise in trends in healthcare IT, big data and cloud computing, well-established healthcare infrastructure, continuous reforms by governments, and an increase in diseased patient burden are driving the growth of the chronic disease management market in the regions.
For instance, the U.S. government implemented the Affordable Care Act (ACA) for the prevention of diseases and the adoption of healthcare IT. The ACA is expected to boost the growth of the chronic disease management market and create opportunities for population health management service providers to collect and maintain patients' data.
The key players that operate in the chronic disease management market are WellSky, ZeOmega, Health Catalyst, Cedar Gate Technologies, Cognizant, Pegasystems Inc., Epic Systems Corporation, Hinduja Global Solutions Ltd. (Bengaluru), NXGN Management, LLC, MINES & Associates, Inc., Casenet, LLC, ExlServings Holdings, Inc., cliexa., ScienceSoft USA Corporation, Vivify Health, Inc., Allscripts Healthcare, LLC, Infosys Limited, Medecision, IBM, Altruista Health, TCS Healthcare Technologies, and Koninklijke Philips N.V. (Netherlands
Key Benefits For Stakeholders
Key Market Segments
By Disease Type
By Type
By End User
By Region