Care Management Solutions Market: Global Industry Analysis and Forecast (2021-2029)

Care Management Solutions Market was valued at US$ 13 Bn. in 2021. Global Care Management Solutions Market size is expected to grow at a CAGR of 11.9 % through the forecast period.
Care Management Solutions Market Overview:
Care management refers to a range of activities aimed at enhancing patient care and lowering the demand for medical services by helping patients and caregivers in good coping with their medical conditions. Many healthcare institutions have officially signed risk-based contracts under which they are responsible for delivering treatment to certain patient populations while following best practices in care management. Although some companies have extensive experience in care management, they use commercial or domestic tools that are incapable of growing along with the company.



To know about the Research Methodology :- Request Free Sample Report

2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2021 is a year of exception and analysis especially with the impact of lockdown by region.
Care Management Solutions Market Dynamics:
The COVID-19 pandemic causes a prolonged downturn in the healthcare market. Communities apart, COVID-19 was a crisis for the major economies, particularly the healthcare market. Key stakeholders are continuing to modify their plans in response to the quickly shifting conditions. The healthcare sector is expected to see significant long-term effects from COVID-19. Priority reform efforts would need to be undertaken by countries and significant stakeholders until the crisis is resolved.

Care management solutions provide all-encompassing care management software to improve care quality, decision-making, and clinical outcomes. These patient-centered strategies contribute to improved community health & medical management. The care management solution support quick data access for doctors working in rural locations and offer information on disease & utilization management, coordination & care, and collaborative care planning. The high-risk populations can be recognized and followed it up on using care management solutions. Additionally, these solutions assist in choosing the proper levels of care and managing interventions.

The older population, rising chronic disease rates, and rising use of patient-centric solutions by healthcare professionals are all factors contributing to the market growth for care management solutions. Over the duration of the forecast period, new opportunities will also be added to the care management solutions market by improved IT solution improvements and big data capabilities.

By preventing complications with early care intervention, care management solutions help with the effective administration of patient health records and enhance the quality of life for patients. As a result, the key element driving market growth is the shift in focus toward patient-centric treatment.

In addition, the demand for care management solutions is being driven by the aging population and the pervasiveness of chronic diseases like cancer, diabetes, and cardiovascular diseases (CVDs). Governments in numerous nations are also adopting strict rules and beneficial measures to shift the risk burden from healthcare payers to providers. Along with this, the market is growing due to the growing demand to reduce spending as a result of the rising healthcare costs.

Market Drivers

Technological Advancement: Certainly, the healthcare sector has been driven toward patient-centric treatment by the growing usage of big data and its significant impact. The need for care management solutions has grown as a result of an older population that is continually growing and an increase in the prevalence of chronic diseases. The most efficient workflow techniques are offered by these solutions, creating attractive chances for market participants in the chronic disease market. The market opportunity is forecast as a result of IT advancements and rising healthcare IT usage for the effective administration of large volumes of data. Additionally, care management solutions have the capacity to combine patient-level EHR data with claims-based data sources, allowing the use of analytics for clinical decision support.

Implementation of initiatives to shift the burden of risk from healthcare payers to providers: Around the country, a number of initiatives are being implemented to transfer the risk from healthcare payers to providers. In order to improve the effectiveness of healthcare provision and significantly cut on wasteful spending, this shift promotes the adoption of healthcare information technology (HCIT) solutions, such as care management solutions. Additionally, different payment models like bundled payments, physician incentives, and customer incentives are used to encourage value-based care. By encouraging healthcare providers to take responsibility for the care they give, these payment models aim to shift risk from payers to providers.

An increase in chronic diseases among the older Population: Due to the rising demand for high-quality care for the elderly population, the prevalence of chronic diseases in old age is boosting the growth of the care management solutions market. Because of lifestyle changes and limited access to preventive care, chronic diseases like heart disease, cancer, stroke, and respiratory disease are more common.

Market Restraints:

The market for care management solutions is being driven by rising care management adoption, rising government healthcare spending, rising demand for high-quality care, and an aging population. Additionally, the market for care management solutions is being driven by people's growing awareness of the need for better healthcare. However, some of the key issues that are limiting the of the global market for care management solutions include a lack of highly experienced people and high investment.

Shortage of skilled professionals: An effective IT infrastructure and IT support both inside the company and at the solution provider's end are necessary for the use of care management solutions. For clinical workflows to run smoothly and care management solutions to interface with servers and networks at optimal speeds, technical assistance is a constant requirement in healthcare organizations. The production of screen loads results from a poor server or network maintenance, which slows down the clinical process.

Market Challenge: Medical and patient data digitization has raised data risks and liabilities and increased the chances of data breaches. This may be primarily caused by a lack of internal controls over patient information, the use of out-of-date policies and procedures or a failure to adhere to ones already in place, and insufficient staff training. In the short term, until actions are taken to address the present issues, the possibility of data security and confidentiality breaches associated with digitalization may hinder the adoption of HCIT solutions. As a result, this can have a detrimental effect on the market's growth.

Market Opportunity: The development of this market in Asia is being driven by a variety of factors, including the deployment of government policies boosting the adoption of HCIT solutions and rising government healthcare expenditure. Authorities in China are concentrating on improving the country's healthcare management sector. The market is now dealing with issues like underfunded rural health clinics, overburdened city hospitals, and a nationwide doctor shortage.
Care Management Solutions Market Segment Analysis:
Based on Solution, the Care Management Solutions Market is segmented under software and services. The market will be dominated by care management software, which is forecast to grow by 65 % by 2029. However, the category for care management services is expected to grow faster, at a CAGR of 19.6% from 2021 to 2029.

The demand for digital healthcare IT platforms is mostly driven by improvements in IT systems and healthcare technologies. New generations of healthcare systems and IT platforms have naturally led to advances in mobile health technologies. utilizing information technologies, data analytics, and care management services to enhance healthcare outcomes, helps to increase the value of patient health management programs. Thus, it is forecast that demand for care software solutions would increase in the coming years due to the increasing acceptance of technological advancements and healthcare solutions through integrated care management solutions and services.



Based on the End-User, the Care Management Solutions Market is segmented into Hospitals & clinics, Accountable care Organization, Health Insurance providers.

Based On Deployment, On-premise care management solutions will dominate the market in terms of deployment. By 2029, the market size for this is forecast to increase by 70%. However, cloud-based care management solutions are forecast to grow at the fastest rate (20% CAGR) between 2021 and 2029.

Providing a special fusion of real-time connected data and managed care best practices are made possible by care management solutions. Healthcare providers can increase the effectiveness of patient health management programs by using on-premise care management technologies and services. In addition, it is forecast that over the next few years, the growing use of cloud computing in the healthcare market would increase demand for cloud-based care management systems.
Care Management Solutions Market Regional Insights:
In 2022 North America led the market, and it is forecast that it will continue to do so during the forecast period. The regional market is growing as a result of technological advancement, rising cloud-based solution acceptance, and growing patient care management awareness. Over the forecast period, Europe is expected to grow rapidly.

The objective of the report is to present a comprehensive analysis of the global Care Management Solutions Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Care Management Solutions Market dynamic, structure by analyzing the market segments and projecting the Care Management Solutions Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Care Management Solutions Market make the report investor’s guide.
Care Management Solutions Market Scope: Inquiry Before Buying



Global Care Management Solutions Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 13 Bn.


Forecast Period 2022 to 2029 CAGR:
11.9%
Market Size in 2029:
US$ 30 Bn.


 Segments Covered:
by Solution
• Software
• Services


by Deployment
• Cloud-based Care Management Solutions
• On-Premises Care Management solutions


by End-User
• Accountable Care Organization
• Hospital & Clinics
• Health Insurance Providers
• Others



Care Management Solutions Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Care Management Solutions Market Key Players
• EXL Service Holdings (US)
• Casenet LLC (US)
• Medicision Inc (US)
• ZeOmega (US)
• Cognizant Technology Solutions (US)
• Cerner Corporation (US)
• Allscripts Healthcare Solutions (US)
• EPIC System Corporation (US)
• IBM (US)
• Koninklijke Philips (Netherlands)
• Salesforce, Com (US)
• Pegasystems (US)

Frequently Asked Questions:

1] What segments are covered in the Global Care Management Solutions Market report?
Ans. The segments covered in the Care Management Solutions Market report are based on Solution, Deployment and End User.

2] Which region is expected to hold the highest share in the Global Care Management Solutions Market?
Ans. The North America region is expected to hold the highest share in the Care Management Solutions Market.

3] What is the market size of the Global Care Management Solutions Market by 2029?
Ans. The market size of the Care Management Solutions Market by 2029 is expected to reach US$ 30 Bn.

4] What is the forecast period for the Global Care Management Solutions Market?
Ans. The forecast period for the Care Management Solutions Market is 2022-2029.

5] What was the market size of the Global Care Management Solutions Market in 2021?
Ans. The market size of the Care Management Solutions Market in 2021 was valued at US$ 13 Bn.