TRANSITIONAL CARE MANAGEMENT SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Transitional Care Management Services Market Size and Trends

Global transitional care management services market is estimated to be valued at USD 230.26 Bn in 2024 and is expected to reach USD 618.87 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.2% from 2024 to 2031.

To learn more about this report, request sample copy

The market is expected to witness significant growth during the forecast period due to rising geriatric population globally and growing prevalence of chronic diseases.. With increase in aging population and life expectancy, the need for transitional care management services is expected to increase substantially. Various initiatives taken by government and private organizations to reduce hospital readmissions and shift toward value-based care will further drive the market growth over the next few years. However, lack of skilled workforce and high costs associated with these services may hinder the market growth to some extent during the forecast period.

Rising geriatric population

The global population is aging at an unprecedented rate. Transitional care management programs are aimed at supporting the unique needs of elderly patients. Thes aim to help with coordination of care as older adults transition between different care settings like from hospitals to home or to assisted living facilities. With individuals spending more years in their later lives, demand is surging for programs that can help vulnerable senior patients avoid unnecessary readmissions and complications after changes in care levels. Transitional care management looks to play a vital role in improving health outcomes and quality of life for the growing elderly demographic worldwide.

Chronic conditions have become much more prevalent in recent decades. Diseases like heart disease, diabetes, cancer, and respiratory illnesses now account for most healthcare spending. Older adults in particular are dealing with multiple chronic conditions simultaneously. Managing complex chronic care regimens and preventing exacerbations that could lead to hospitalizations is challenging. Transitional care management programs work to ensure proper follow up, medication management, coordination with specialists, and lifestyle modifications take place as patients’ transition between care levels with chronic illnesses. This helps to reduce readmissions and assist patients and caregivers in better self-managing long-term conditions. As chronic disease prevalence continues increasing with an aging global population, demand is anticipated to grow for transitional care models that support complex chronic care needs during care changes.