The Care Management Solutions Market Size was valued at USD 13.04 billion in 2023 and is expected to reach USD 38.31 billion by 2031, and grow at a CAGR of 14.42% over the forecast period 2024-2031.
The need for integrated healthcare solutions is increasing due to increased focus on patient centered care and the growing burden of health costs. Therefore, healthcare payers, governments and employers are more likely to use them. In addition, the growth of the sector is supported by the increasing adoption of technological software and services in the healthcare system.
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The need for effective disease management solutions is increasing as the prevalence of a variety of diseases increases. Also, to enhance the quality of care, decision making and outcomes, healthcare management solutions provide all software and services for a comprehensive approach to managing health. By means of methods such as face to face consultation and telephone consultation through the service provider assigned to the patient, they are implemented through educational and consulting services. Consequently, market growth is driven by an increase in chronic diseases.
DRIVERS
Through public programmes and policies, patientcentric care is promoted
It is becoming increasingly important to reduce the cost of healthcare.
Implementation of initiatives aimed at reducing the risk burden to healthcare payers and providers
Various initiatives aimed at reducing the burden of risk for healthcare providers are being put in place around the world. This shift is promoting the adoption of health IT solutions such as care management, which will contribute to increasing efficiency in healthcare delivery and reducing unnecessary expenses. Alternative payment models such as bundled payments, physician incentives and consumer incentives are also used to promote value-based care. These payment models aim at encouraging healthcare providers to take responsibility for the care they provide, which in turn leads to a shift of liability from payer to provider.
RESTRAINTS
Shortage of skilled professionals
A strong IT infrastructure and support in both the organization and at the end of the solution provider is necessary if care management solutions are to be effectively used. Technical support to keep the server and network running smoothly during clinical workflows, as well as optimum interfacing speeds for care management solutions is still needed within a healthcare organization. If the server or network is not properly maintained, this may lead to an overload of screens and slow down your clinical process.
OPPORTUNITIES
Technological progress has been made in the development of healthcare IT solutions
The popularity of personalised treatment is increasing
The potential for high growth is offered by emerging countries
The growth of this market in Asia is driven by a number of factors, such as the implementation of government initiatives to promote use of HCIT solutions and increasing healthcare expenditure. Technology plays an important role in the reform of China's healthcare management sector, which is already facing challenges such as inadequate funding for rural health centres, overwhelmed city hospitals and a national shortage of medical professionals.
CHALLENGES
Interoperability is a serious issue
Data leaks and loss of confidential information
Data risks and liabilities have increased and the risk of data breaches has increased as a result of the digitisation of medical patient information. Lack of internal control over patient information, adherence to outdated policies and procedures which are no longer in place due to lack of staff training could be the reason for this. Until measures are put in place to deal with existing problems, the potential for data security and confidentiality breaches associated with digitalisation could have an impact on adoption of HCT solutions over time. Consequently, the growth of the market may be negatively affected.
The global repercussions of the Russia-Ukraine crisis extend to various markets, including the Care Management Solutions Market, notably impacting global supply chains, commodity prices, and cybersecurity risks. These disturbances have widespread consequences for industries worldwide, including healthcare and care management solutions. The crisis has prompted a substantial transformation in the global corporate arena, with numerous Western and Asian enterprises scaling back or entirely exiting their operations in Russia. This shift has significantly diminished the presence of major foreign corporations in Russia, influencing global market dynamics and potentially affecting the accessibility and pricing of care management solutions dependent on international collaboration and components.
In economic terms, the conflict is likely to lead to a material slowdown in global growth because of possible supply disruptions caused by Russia's important role as an oil and natural gas supplier which include essential crops such as wheat and barley. Such shortages may lead to inflationary pressures, which could affect the affordability and availability of care management solutions in an indirect way. Also, businesses in the care management solutions market and beyond are focusing on building resilience, such as diversifying supply chains and increasing inventory levels of critical components, in response to these challenges. In addition, companies are advised to ensure that they comply with existing sanctions and use technology for better risk management and visibility of their supply network.
In spite of the ongoing slowdown, the care management solutions market is growing strongly and resilient. The increasing adoption of integrated health management services and the development of digital healthcare systems have led to a significant increase in this market. New services and software, which focus on care management and chronic disease management, have been launched by companies such as Health Catalyst and CareCloud in line with the healthcare industry's efforts to improve health outcomes and increase revenue through technology solutions. The market is highly competitive, with the key players being Athenahealth, Allscripts Healthcare Solutions and Epic Systems which are driving innovation and expanding a range of available solutions for care management. It is the software segment, because of its ease of use, affordability and ability to coordinate and deliver efficient care that has a major role to play in detecting patients, watching their vital signs, reducing error rates or producing medical records for research.
Market segmentation
By Component
Services
Software
In 2023, software accounted for more than 57.8% of the component segment and is expected to maintain its dominance over the forecast period. Over the forecast period, this segment is also expected to grow at an accelerated rate. The ease of use and affordability of software may be responsible for this. Coordinated and effective care is provided through software solutions. They allow providers to perform effective patient diagnosis, monitor patients' vital signs and medicines, minimise errors in the course of surgical procedures as well as produce digital medical records for research purposes.
By Mode of Delivery
Web-based
Cloud-based
On-premise
In 2023, the web-based accounted 39.5% of total Mode of Delivery segments. Industry growth is driven by the increased adoption of cloud based electronic health records by healthcare providers to improve accessibility, security and storage capabilities.
By End-Use
Healthcare Providers
Healthcare Payers
Others
In 2023, the healthcare providers segment represented more than 54.5% of total revenues of End-use segment. Factors which are responsible for the dominant share of this segment include increasing demand for patient centered care, improved quality of healthcare, growing numbers of patients and increased needs for faster services. The growth of this segment is expected to be driven by the presence of well-developed hospitals and a growing number of strategic initiatives undertaken by industry leaders. For example, My Healthcare, a provider of digital healthcare ecosystem, released an enterprise application for health care enterprises in February 2022 called MEHARE. The MHEA ecosystem relies on a customizable workflow engine, empowering hospital teams and healthcare professionals to oversee hospital operations and patient care efficiently.
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In 2023, North America represented 51.3% of the overall industry's revenue. The growing adoption of healthcare solutions that assist in meeting the goal of reducing costs and improving quality by health care providers has contributed to this industry's growth. Moreover, industry growth in the region is being driven by increasing adoption of cloud based software and technological developments. Moreover, the growth is being fueled by robust government support.
The Asia Pacific region is projected to experience the highest compound annual growth rates over the forecast period. One of the major impact drivers is improved healthcare facilities due to rapidly evolving economies, such as China, Japan, South Korea and India. Regional growth is also driven by growing interest and investments from major industry players, as well as ongoing cooperation efforts.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of the major key players of Care Management Solutions Market are as follows: Allscripts Healthcare Solutions, Inc., Cerner Corporation, EPIC Systems, Inc., IBM, i2i Population Health, Koninklijke Philips N.V., Mediware Information Systems, Pegasystems Inc., Salesforce.com, Inc., ZeOmega and Other Players
In 2022, TurningPoint Healthcare Solutions has unveiled the introduction of TurningPoint Digital Joint and Spine, a comprehensive platform for managing musculoskeletal (MSK) conditions. This innovative platform facilitates upstream care management, enabling risk-bearing entities like employers and health plans to consolidate complete condition risk management through a single partner.
In 2022, Teladoc Health, Inc., has launched the Complete Chronic Care solution, which is the first solution for the management of chronic diseases to improve health outcomes for patients with multiple chronic diseases. The solution shall include connected health monitoring devices, access to healthcare staff and, where necessary, the support of physicians and mental health experts.
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 13.04 Billion |
Market Size by 2031 | US$ 38.31 Billion |
CAGR | CAGR of 14.42% From 2024 to 2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Component (Services, Software) • By Mode of Delivery (Web-based, Cloud-based, On-premise) • By End-use (Healthcare Providers, Healthcare Payers, Others) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Company Profiles | Allscripts Healthcare Solutions, Inc., Cerner Corporation, EPIC Systems, Inc., IBM, i2i Population Health, Koninklijke Philips N.V., Mediware Information Systems, Pegasystems Inc., Salesforce.com, Inc., and ZeOmega. |
DRIVERS | • Patient-centric care is promoted through government programmes and policies. • Implementation of programmes aimed at shifting the risk load from payers to providers. • Geriatrics are on the rise. |
RESTRAINTS | • Lack of qualified professionals |
Ans: The care management solutions market was valued at USD 13.04 billion in 2023.
Ans: The expected CAGR of the global care management solutions market during the forecast period is 14.42%.
Medical practices of all sizes are under enormous strain as a result of the COVID-19 epidemic, and healthcare facilities around the world are overwhelmed by the vast number of patients who see them on a regular basis.
Drivers, Restraints, Opportunities, and Challenges are the factors of marketing dynamics Care Management Solutions market.
Allscripts Healthcare Solutions, Inc., Cerner Corporation, EPIC Systems, Inc., IBM, i2i Population Health, Koninklijke Philips N.V., Mediware Information Systems are some of the key players of Care Management Solutions market.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Care Management Solutions Market Segmentation, By Component
9.1 Introduction
9.2 Trend Analysis
9.3 Services
9.4 Software
10. Care Management Solutions Market Segmentation, By Mode of Delivery
10.1 Introduction
10.2 Trend Analysis
10.3 Web-based
10.4 Cloud-based
10.5 On-premise
11. Care Management Solutions Market Segmentation, By End-Use
11.1 Introduction
11.2 Trend Analysis
11.3 Healthcare Providers
11.4 Healthcare Payers
11.5 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 Allscripts Healthcare Solutions, Inc.
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Cerner Corporation
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 EPIC Systems, Inc.
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 IBM
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 i2i Population Health
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Koninklijke Philips N.V.
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Mediware Information Systems
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Pegasystems Inc.
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Salesforce.com, Inc.
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 ZeOmega
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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