Global Care Management Solutions Market

Global Care Management Solutions Market Size, Share, Growth Analysis, By Component(Software and Services), By Mode of Delivery(Web-based, Cloud-based), By Application(Disease Management, Case Management), By End User(Healthcare providers, and Healthcare payers.) - Industry Forecast 2024-2031


Report ID: SQMIG35G2091 | Region: Global | Published Date: February, 2024
Pages: 237 | Tables: 115 | Figures: 77

Global Care Management Solutions Market Dynamics

Care Management Solutions Market Drivers:

Implementation of initiatives to shift the burden of risk from healthcare payers to providers

  • Numerous measures have been put in place on a global scale to shift the risk-bearing responsibility from healthcare payers to providers. This change encourages the implementation of healthcare information technology (HCIT) solutions to cut wasteful spending and improve the effectiveness of healthcare services. Additionally, alternative payment models including physician incentives, bundled payments, and customer incentives, among others, further support value-based care.

An increase in chronic diseases among the older Population

  • The incidence of chronic diseases in old age, combined with the growing need for high-quality care for the older population, is fuelling the market for care management systems. Chronic diseases like heart disease, cancer, stroke, and respiratory disease are more prevalent as a result of lifestyle changes and the lack of access to preventive care.

Care Management Solutions Market Restraint:

Lack of Skilled Workforce

  • Care management solutions are implemented in line with a variety of technologies and are successful with a developed and established IT infrastructure, which is lacking in the majority of healthcare systems worldwide. However, there is a lack of qualified personnel who could oversee and maintain such IT-based care management solutions. Through the projection period, this is anticipated to be a major restraint on the market potential for care management solutions.

Shortage of skilled professionals

  • The operational use of care management solutions necessitates a robust IT infrastructure and assistance both inside and outside the company. Technical support is constantly required in a healthcare company to maintain the network and server for optimal care management speed solutions and efficient work flow.
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FAQs

Care Management Solutions Market size was valued at USD 10.04 billion in 2019 and is poised to grow from USD 11.5 billion in 2023 to USD 33.74 billion by 2031, growing at a CAGR of 14.4% in the forecast period (2024-2031).

There are a number of major players in the fragmented and competitive market for care management solutions. The market is populated by major corporations like Allscripts Healthcare Solutions, Axis point Health, EPIC Corporation Inc., Exl Healthcare, Health smart Holdings Inc., I2I Systems Inc., Me decision Inc., Phytel Inc. (IBM Corporation), TriZetto Corporation, Ze omega Inc., Centene Corporation (Evolve), InfoMC, Optum, Inc., and Care Harmony, Inc. 'Allscripts Healthcare Solutions, Inc.', 'Cerner Corporation', 'Koninklijke Philips N.V.', 'Epic Systems Corporation', 'IBM Corporation', 'McKesson Corporation', 'Athenahealth, Inc.', 'Medecision, Inc.', 'WellSky Corporation', 'ZeOmega Inc.', 'Allscripts Healthcare Solutions, Inc.', 'EXL Healthcare', 'Pegasystems Inc.', 'Casenet, LLC', 'Cognizant Technology Solutions Corporation', 'Infosys Limited', 'Health Catalyst, Inc.', 'TriZetto Corporation', 'Wipro Limited', 'Salesforce.com, Inc.'

Numerous measures have been put in place on a global scale to shift the risk-bearing responsibility from healthcare payers to providers. This change encourages the implementation of healthcare information technology (HCIT) solutions to cut wasteful spending and improve the effectiveness of healthcare services. Additionally, alternative payment models including physician incentives, bundled payments, and customer incentives, among others, further support value-based care.

The capacity of disease management solutions to lower healthcare costs through protocol management and prevent disease through comprehensive medical management is credited with the strong growth of this market. The majority of healthcare spending goes toward treating people with chronic disease conditions; as a result, disease management lowers inpatient and outpatient expenses. Furthermore, the chronic care management segment is anticipated to expand significantly over the course of the forecast period due to rising chronic disease prevalence and increased awareness. Disease management is the idea that by preventing or minimising the effects of a disease through integrated care, healthcare costs can be reduced and the quality of life for people with chronic illnesses can be improved. The management of diseases has become a promising strategy for improving care for patients with chronic illnesses.

In terms of region, North America dominated the global care management solutions market. In North America, the U.S. dominates the market. The market in North America is expanding as a result of factors like increased awareness of patient care solutions, technical advancements, and rising acceptance of cutting-edge technology.

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Global Care Management Solutions Market

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