New York, USA, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Chronic Disease Management Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Chronic Disease Management Market Information by Solution, by Delivery Mode, by Application, by End-User, and Region - Forecast till 2030”, the market touched USD 4.69 billion in 2021 and can reach USD 15.82 Billion by 2030. The market will be accruing a growth rate of 13.82% from 2022 to 2030
Market Scope:
Chronic disease management can be described as an integrated care method that involves the management of the illness, including check-ups, screenings, coordinating and monitoring treatment, as well as patient education. It helps enhance life quality while bringing down healthcare costs. Chronic disease is understood to be a condition that can last more than a year, and requires constant medical attention, while generally limiting the person’s daily activities. Some common types of chronic diseases include cancer, hypertension, heart disease, diabetes, chronic respiratory disease, stroke, asthma, and more.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 15.82 Billion |
| CAGR | 13.82% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Solution, Delivery Mode, Application and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising awareness about the seriousness of life-threatening diseases |
| Rising use of digital technologies and IT healthcare services |
Chronic Disease Management Market Competitive Analysis:
Some of the most eminent contenders in the chronic disease management industry are:
- Allscripts Healthcare Solutions Inc. (US)
- Harmony Information Systems Inc. (US)
- Siemens Healthcare Private Limited (Germany)
- MINES & Associates Inc. (US)
- Pegasystems Inc. (US)
- Koninklijke Philips NV (Netherlands)
- EXL Healthcare (New York)
- Infosys Limited (India)
- ScienceSoft USA Corporation (US)
- TriZetto Corporation (US)
The market is extremely competitive and fragmented, with the players constantly taking up strategic initiatives, like regional expansions, product upgrades, mergers & acquisitions along with portfolio diversification. The market should turn even more competitive with several startups trying to seek opportunities in the sector and established, large-scale firms entering the industry to enhance their portfolio.
Chronic Disease Management Market Dynamics
Market Drivers
The chronic disease management market is primarily fostered by the mounting demand for innovative IT solutions and services that facilitate efficient delivery of value-based medical care. Large-scale budgets allocated for healthcare, in addition to the surging requirement for advanced value-based healthcare and disease management across multiple healthcare settings can boost the market growth in the years to come. However, the most crucial reason for market growth includes the rapidly growing burden of a number of chronic diseases, such as diabetes, asthma, heart diseases, arthritis, to name a few.
Substantial costs incurred from hospitalization have raised the need for a shorter period of hospital stay as well as lower cost healthcare settings, which has resulted in higher demand for chronic disease management solutions. Escalating R&D spending to produce highly advanced treatment options and the surge in medical tourism across developing regions is viewed as a lucrative opportunity by the chronic disease management solutions firms. Also, growing involvement of government bodies across various countries will also work in favor of the global industry in the ensuing period.
On the competitive front, product portfolio diversification remains one of the key focus areas for the top manufacturers to secure a higher market position. They also adopt strategies such as partnerships, acquisitions and mergers to achieve the upper hand over rivals.
Market Restraints
Non-compliance coupled with patients’ lack of adherence can impede the industry growth in the years to come.
Browse In-depth Market Research Report (90 Pages) on Chronic Disease Management: https://www.marketresearchfuture.com/reports/chronic-disease-management-market-981
COVID-19 Analysis
The COVID-19 outbreak’s impact on the healthcare system was profound, giving way to numerous public health measures, as well as a reduction in medical access to people. The pandemic resulted in the shutdown of operational facilities worldwide.
The worldwide healthcare industry has been facing multiple challenges during the lockdown phase. Given the rapid increase in COVID-19 cases, many medical facilities are encountering a lot of issues, which reduces the provision of essential services.
Healthcare IT emerged as the top solution in these uncertain times, helping professionals provide medical services to take care of the rapidly mounting number of new cases. These solutions enable smart healthcare systems to effectively communicate and connect with each other, allowing new ways to track and respond to emergencies. To this end, the chronic disease management market was able to see sustained growth and will continue to remain afloat in the years ahead.
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Chronic Disease Management Market Segment Overview
By Application
The market is segmented into arthritis, cardiovascular disease, cancer, diabetes
By Solution
Consulting Solution, Implementation Solution, Educational Solution, and others are the key solution-based segments in the report.
By Delivery Mode
The delivery modes covered in the study are Cloud-Based, Web-Based as well as On-Premises.
by End-Users
Payers, providers, and others are the major end-users in the global market.
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Chronic Disease Management Market Regional Analysis
Americas can most likely be the highest gainer in the global market for chronic disease management in the following years, in view of the increasing burden of a variety of chronic disorders such as cancer and diabetes. Also, the rise in R&D spending by biotech and pharma companies, combined with the overall growth in healthcare expenditure can ensure that America retains its leadership throughout the review timeframe.
Europe is set to take second place in the global market, thanks to the escalating health issues among people, especially among the rapidly expanding elderly population. The constantly increasing healthcare spending also benefits the regional market to a large extent. The World Health Organization says that cancer is the second leading cause of death in Europe. These numbers showcase the high morbidity rate and the resultant surge in associated expenditure could further foster the European market’s growth in the ensuing years.
The Asia Pacific can exhibit the fastest growth over the coming years, mostly due to the exploding population, unmet medical needs, and the rampant demand for technically innovative treatments. Also, the swiftly growing cases of cancer in emerging countries like Japan, India, and Hong Kong should bolster the demand for chronic disease management solutions in subsequent years.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
