Care Management Solutions Market - Growth, Trends, and Forecast (2019 - 2024)
The care management solutions market is expected to witness rapid growth due to the rising geriatric population and burden of chronic diseases, implementation of initiatives to shift the burden of risk from healthcare payers to providers, care management solutions offer a means to reduce healthcare costs and government initiatives to promote patient-centric care.
The market is expected to witness growth owing to the care management centralized approach and integrated care for patients, which further improves quality of life by inhibiting complications with early intervention of care. This results in a decline in healthcare costs and lowers the burden on health care payers and providers. Hence these factors are expected to propel the growth of the care management solutions market, globally.
Scope of the Report
As per the scope of the report, care management solutions refer to solutions that are used to coordinate patient care with long-term care needs to better manage their conditions with care interventions. The deployment of care management solutions is increasing among payers as it helps in the effective management of patient health records and ensuring better health outcomes to mitigate their risk burden.
Key Market Trends
Disease Management is Anticipated to Show High Growth During the Forecast Period
The high growth of disease management solutions segment has been attributed to the ability of these solutions to reduce the cost of care with the help of protocol management and prevent ill health through comprehensive health management. The individuals with chronic disease conditions have been accounted for the majority of the healthcare expenditures and thus disease management reduces the inpatient and outpatient costs.
In addition, with the rising chronic disease prevalence and increasing awareness, the chronic care management segment is also likely to experience strong growth during the forecast period.
North America Region Holds the Largest Market Share of Care Management Solutions Market
North America holds the largest market share and is expected to retain its dominance over the forecast period due to advancements in IT solutions and increase in demand for affordable and scalable solutions in order to curb healthcare costs. Asia-Pacific is also expected to show a high growth rate in the care management solutions market in the next few years due to rising government initiatives, increasing of the aging population.
The increasing patient-centric approach, rising number of mergers and acquisitions and rise in the number of collaborations and partnerships are some of the latest trends that have been observed in the overall growth of the care management solutions market.
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