CARE MANAGEMENT SOLUTIONS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The global care management solutions market is estimated to be valued at USD 14.51 Bn in 2024 and is expected to reach USD 37.70 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.6% from 2024 to 2031.
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The market is witnessing positive growth due to rising geriatric population and the increasing prevalence of chronic diseases globally. Care management solutions help in improving healthcare quality, reducing costs and improving overall patient outcomes. For instance, healthcare providers are investing in artificial intelligence and analytics enabled solutions to offer personalized care management services. In November, 2024, the Mount Sinai Health System in New York City announced the opening of the Hamilton and Amabel James Center for Artificial Intelligence and Human Health.
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Insights By Component - Ease of access and customization drive software dominance
Software is expected to account for the largest share of 52.1% in 2024 due to its ease of access and ability to be customized. Care providers are increasingly adopting software solutions as they allow remote access which has become essential during the pandemic. Staff can manage patient care from anywhere using internet-connected devices. The flexibility of software helps healthcare organizations be more responsive to evolving needs. It is also easier for vendors to frequently update software products with new features and bug fixes which keeps them relevant.
Insights By Delivery Mode - Embedded services promote ongoing optimization of on-premise solutions
On-premise segment is expected to make up the largest share of 51.1% in 2024 due to embedded long-term service agreements. While these solutions require upfront investments in infrastructure and staff training, providers see ongoing value in customized on-site support. Vendors bundle implementation, training, and multi-year technical support into on-premise offerings. This full-service model gives care organizations continuous guidance to optimize their investment.
Insights By Application - Focus on disease management drives utilization
Disease management is expected to account for the highest utilization in the global care management solutions market with 42.3% in 2024 based on application due to a focus on preventive chronic care. Healthcare providers recognize that effective chronic disease management not only improves patient outcomes but is also crucial to achieving quality metrics and cost control goals in value-based payment schemes. Leveraging software and services that stratify patient populations, develop personalized care plans, and closely monitor disease indicators allows institutions to proactively manage high-risk, high-cost patients.
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Dominating Region: North America
North America dominates the global care management solutions market with an estimated share of 36.2% in 2024. This can be attributed to factors such as robust healthcare infrastructure, high healthcare expenditure, presence of leading market players, and supportive government policies promoting value-based care delivery models. Notable companies such as McKesson Corporation and Cognizant Technology Solutions have established their regional headquarters in countries like the U.S. and Canada to leverage business opportunities.
Fastest-Growing Region: Asia Pacific
Asia Pacific exhibits the fastest growth in demand for care management solutions driven by rapidly aging population, growing medical tourism industry, and initiatives by governments of nations like China, India, and Japan to modernize their healthcare systems through digital transformation. Leading regional players including Wipro and Mindtree are increasingly collaborating with global vendors to develop customized offerings and expand their footprint.
Care Management Solutions Market Outlook for Key Countries
Rapid Adoption of Digital Health Technologies in the U.S.
The U.S. leads the market due to its rapid adoption of digital health technologies. A September 2022 report by the American Medical Association revealed that 80% of physicians used tele-visits and 30% employed remote monitoring devices, showcasing the nation's strong embrace of remote care solutions.
Technological Advancements and Strategic Initiatives in the U.K.
The U.K. care management solutions market is also expected to witness significant growth during the forecast period. This expansion is driven by technological advancements, ongoing research and development in healthcare IT, and strategic initiatives adopted by market players. For example, in May 2024, Loughborough's Centre for Lifestyle Medicine and Behaviour (CLiMB) partnered with Wolfson School of Engineering to create an innovative digital health app aimed at helping individuals with multiple chronic conditions manage their healthcare more effectively.
Fastest Growing Market Driven by Chronic Conditions in Saudi Arabia
Saudi Arabia care management solutions market in Saudi Arabia is expected to experience the fastest growth during the forecast period. This growth is driven by the country's aging population and the high prevalence of chronic conditions. For example, in February 2023, Saudi Arabia's Ministry of Health introduced an updated version of the Sehhaty app, enhancing features for reviewing prescriptions and appointments, encouraging walking, and promoting women's health.
Growth Fueled by Innovation and Government Support in Australia
The care management solutions market in Australia is projected to grow significantly during the forecast period. This growth is driven by improved network coverage, rising smartphone adoption, app launches, and supportive government initiatives. Additionally, in November 2023, a new collaboration between Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia's National Science Agency, and Telstra Health, a digital health company, aims to accelerate the adoption of digital health solutions and enhance the country's healthcare systems.
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Dominating Region: North America
North America dominates the global care management solutions market with an estimated share of 36.2% in 2024. This can be attributed to factors such as robust healthcare infrastructure, high healthcare expenditure, presence of leading market players, and supportive government policies promoting value-based care delivery models. Notable companies such as McKesson Corporation and Cognizant Technology Solutions have established their regional headquarters in countries like the U.S. and Canada to leverage business opportunities.
Fastest-Growing Region: Asia Pacific
Asia Pacific exhibits the fastest growth in demand for care management solutions driven by rapidly aging population, growing medical tourism industry, and initiatives by governments of nations like China, India, and Japan to modernize their healthcare systems through digital transformation. Leading regional players including Wipro and Mindtree are increasingly collaborating with global vendors to develop customized offerings and expand their footprint.
Care Management Solutions Market Outlook for Key Countries
Rapid Adoption of Digital Health Technologies in the U.S.
The U.S. leads the market due to its rapid adoption of digital health technologies. A September 2022 report by the American Medical Association revealed that 80% of physicians used tele-visits and 30% employed remote monitoring devices, showcasing the nation's strong embrace of remote care solutions.
Technological Advancements and Strategic Initiatives in the U.K.
The U.K. care management solutions market is also expected to witness significant growth during the forecast period. This expansion is driven by technological advancements, ongoing research and development in healthcare IT, and strategic initiatives adopted by market players. For example, in May 2024, Loughborough's Centre for Lifestyle Medicine and Behaviour (CLiMB) partnered with Wolfson School of Engineering to create an innovative digital health app aimed at helping individuals with multiple chronic conditions manage their healthcare more effectively.
Fastest Growing Market Driven by Chronic Conditions in Saudi Arabia
Saudi Arabia care management solutions market in Saudi Arabia is expected to experience the fastest growth during the forecast period. This growth is driven by the country's aging population and the high prevalence of chronic conditions. For example, in February 2023, Saudi Arabia's Ministry of Health introduced an updated version of the Sehhaty app, enhancing features for reviewing prescriptions and appointments, encouraging walking, and promoting women's health.
Growth Fueled by Innovation and Government Support in Australia
The care management solutions market in Australia is projected to grow significantly during the forecast period. This growth is driven by improved network coverage, rising smartphone adoption, app launches, and supportive government initiatives. Additionally, in November 2023, a new collaboration between Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia's National Science Agency, and Telstra Health, a digital health company, aims to accelerate the adoption of digital health solutions and enhance the country's healthcare systems.
Key Takeaways from Analyst
Care Management Solutions Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 14.51 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 14.6% | 2031 Value Projection: | US$ 37.70 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Allscripts Healthcare, LLC, Epic Systems Corp., Cerner Corporation, Cognizant Technology Solutions, Koninklijke Philips N.V., IBM Corporation, Medecision, Inc., ZeOmega, Inc., ExlService Holdings, Inc., Optum, Inc., McKesson Corporation, NextGen Healthcare, HealthEdge Software, Inc., Oracle Corporation, and Siemens Healthineers |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Market Driver - Increasing prevalence of chronic diseases
The rising prevalence of chronic diseases, driven by aging populations and unhealthy lifestyles, is increasing demand for care management solutions. These tools improve outcomes, reduce costs, and optimize resources through technology, remote monitoring, and coordinated care, addressing the growing healthcare burden. In May 2023, WHO reported that non-communicable diseases (NCDs) cause 75% of global deaths annually, and is projected to rise to 86% by 2050. Despite gains in life expectancy and reduced mortality, progress has stalled since 2015, worsened by COVID-19 and climate change.
Market Challenge - High implementation costs of care management solutions
One of the key challenges faced by the global care management solutions market is the high implementation costs associated with these systems. Care management solutions often involve complex software platforms and technologies that require integration with other healthcare IT systems. This implementation process can be quite expensive for healthcare providers and payers. It involves costs related to licensing, hardware purchases, system customization, training of staff members, and ongoing maintenance. The pricing of some commercial care management solutions is also quite high.
Market Opportunity - Rising adoption of telehealth and remote monitoring solutions
One of the major opportunities for the global care management solutions market is the rising adoption of telehealth and remote patient monitoring solutions. The COVID-19 pandemic has accelerated the utilization of these digital health technologies over the past year. Many patients are now comfortable with virtual visits and remote consultations. It has reduced the need for unnecessary travel and wait times. Healthcare providers have also recognized the clinical and financial benefits of remote care models in managing chronic diseases, behavioral health issues, and post-discharge care.
What does Growth in the Care Management Solutions Industry mean for Different Stakeholders?
The care management solutions industry has multiple players with varied designations and offers multiple opportunities based on their scope of operations.
|
Key Healthcare IT Stakeholder |
Opportunities Due to Care Management Solutions Industry Growth |
|
Software Developers |
Increased demand for developing healthcare applications, EHR systems, telemedicine platforms, and AI-driven diagnostics tools. |
|
Healthcare Providers |
Opportunities to implement and optimize EHR systems, telemedicine solutions, and patient portals, enhancing patient care and operational efficiency. |
|
Healthcare IT Consultants |
Providing expertise in the implementation and optimization of healthcare IT systems, compliance with health regulations, and digital transformation. |
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Data Analytics Firms |
Growth in demand for advanced analytics solutions, including predictive analytics, population health management, and personalized medicine. |
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Cybersecurity Firms |
Rising need for robust security solutions to protect sensitive health data, ensuring compliance with regulations like HIPAA and GDPR. |
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Hospital Administrators |
Implementing and managing health IT infrastructure to streamline operations, reduce costs, and improve patient outcomes. |
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Medical Device Companies |
Collaborating with healthcare IT firms to integrate devices with EHR systems, telemedicine platforms, and health monitoring applications. |
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Telemedicine Providers |
Expansion of telemedicine services, enabling remote consultations, monitoring, and patient management, especially in underserved areas. |
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Insurance Companies |
Leveraging healthcare IT for improved risk assessment, personalized insurance products, and efficient claims processing. |
|
Regulatory Affairs Specialists |
Guiding healthcare IT companies through complex regulatory landscapes, ensuring compliance with health data privacy and security regulations. |
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About Author
Komal Dighe is a Management Consultant with over 8 years of experience in market research and consulting. She excels in managing and delivering high-quality insights and solutions in Health-tech Consulting reports. Her expertise encompasses conducting both primary and secondary research, effectively addressing client requirements, and excelling in market estimation and forecast. Her comprehensive approach ensures that clients receive thorough and accurate analyses, enabling them to make informed decisions and capitalize on market opportunities.
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