PUBLISHER: The Business Research Company | PRODUCT CODE: 1392541
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392541
“Chronic Disease Management Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chronic disease management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chronic disease management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The chronic disease management market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The chronic disease management refer to software and tools used to manage the symptoms of long-term conditions and delay the advancement of chronic conditions to ensure the safety of life.
The chronic disease management solutions are deployed through on-premises, cloud-based or web-based platforms. The on-premises deployment of chronic disease management solutions and services refers to software solutions and tools that are implemented in-house and as part of an organization's IT infrastructure, where the solution, as well as any connected procedures, are the responsibility of the enterprise. They are used for the management of different diseases which includes cardiovascular diseases, diabetes, cancer, asthma, and chronic obstructive pulmonary disorders. The services in chronic disease management include consulting services, implementation services, and educational services. Chronic disease management services are utilized by both providers and payers.
The chronic disease management market research report is one of a series of new reports from The Business Research Company that provides chronic disease management market statistics, including Chronic disease management industry global market size, regional shares, competitors with a chronic disease management market share, detailed chronic disease management market segments, market trends and opportunities, and any further data you may need to thrive in the chronic disease management industry. This chronic disease management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The chronic disease management market size has grown exponentially in recent years. It will grow from $8. 12 billion in 2023 to $9. 75 billion in 2024 at a compound annual growth rate (CAGR) of 20. 1%. The growth in the historic period can be attributed to data analytics for population health management, empowerment through patient education, value-based care models, customized treatment plans, focus on preventive healthcare. .
The chronic disease management market size is expected to see exponential growth in the next few years. It will grow to $20. 38 billion in 2028 at a compound annual growth rate (CAGR) of 20. 2%. The growth in the forecast period can be attributed to patient-centric care models, population aging, focus on remote patient monitoring (rpm), increasing prevalence of chronic diseases, global healthcare trends. . Major trends in the forecast period include global health challenges and pandemic response, government initiatives and policy support, consumer health apps and platforms, interoperability and health information exchange, focus on behavioral health, telehealth expansion. .
The rise in the geriatric population is significantly driving the growth of the chronic disease management market. The geriatric population refers to people above the age of 65 years. Geriatric people have the highest chance of suffering from chronic diseases. Chronic illness often results in an increased need for medical care and supportive long-term care services, increasing the need for the chronic disease management solutions. According to report published in October 2021 by WHO, the proportion of the world's population over 60 years old would nearly double from 12% to 22% between 2015 and 2050. Thus, an increase in the geriatric population will propel the chronic disease management market growth.
The rising prevalence of chronic disorders is expected to propel the growth of the chronic disease management market going forward. Chronic disease refers to a form of illness that lasts for three months or more and can deteriorate with time. Th rise in chronic diseases has led to the development of targeted management programs and technologies, including remote monitoring, personalized medicine, and data-driven approaches, driving the demand for chronic disease management solutions. For instance, in January 2023, according to a report issued by the US-based National Library of Medicine, which is operated by the federal government, the number of people in the USA aged 50 and older who have at least one chronic condition will increase by 99. 5% (142. 66 million) by 2050. Therefore, the rising prevalence of rare, chronic, and inherited disorders is driving the growth of the chronic disease management market.
Technological advancement is a key trend gaining popularity in the chronic disease management market. Advanced technologies like artificial intelligence (AI) are being adopted to treat chronic diseases. By utilizing AI, medical personnel can witness advances in early intervention and patient outcomes for patients suffering from heart disease, cancer, and diabetes. For instance, in February 2022, Biofourmis, a Boston-based startup specializing in artificial intelligence-driven virtual care and digital pharmaceuticals, has developed Bioformis Care, a service that provides high-quality remote care to patients suffering from chronic diseases. Biofourmis Care will concentrate on increasing provider adherence to care recommendations and spotting patterns of clinical deterioration to allow for early treatments.
Major companies operating in the chronic disease management market are developing and expanding their operations through strategic partnerships. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in September 2023, Best Buy Health, a division of Best Buy, a US-based consumer electronics retailer, partnered with Geisinger, a US-based health and wellness organization focused on making better health easier for communities through primary care, specialty medicine, and other services. Through this partnership, they will improve chronic disease management at home by combining their expertise and creating technology and services for organizations entering the chronic care management space.
In March 2022, Phablecare, an India-based chronic disease management company, acquired Fused Training for an undisclosed amount. Through this acquisition, Phablecare will expand and strengthen its Type1 diabetes verticle. Fused Training is an India-based diabetes management company that provides support to people living with diabetes.
Major companies operating in the in the chronic disease management market report are Allscripts Healthcare Solutions Inc. (now known as Veradigm Inc. ), ScienceSoft USA Corporation, Siemens Healthcare Private Limited, Infosys Limited, MINES and Associates Inc., Biofourmis Care Solutions Pte. Ltd., i2i Systems Inc., Phytel Inc., Wellcentive Inc., TriZetto Corporation, Mediware Human & Social Services Inc., Pegasystems Inc., ZeOmega Inc., Cigniti Technologies Limited, Health Catalyst, Cedar Gate Technologies, Epic Systems Corporation, Hinduja Global Solutions Ltd., NXGN Management LLC, Casenet LLC, ExlServings Holdings Inc., cliexa Inc., Vivify Health Inc., WellSky, Alkeus Pharmaceuticals, Healthy. io, Immunic Inc., GlaxoSmithKline (GSK), GEOVAX INC., Bluebird Bio, Optum Inc., Omada Health
North America was the largest region in the chronic disease management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chronic disease management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the chronic disease management market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The chronic disease management market includes revenues earned by entities by providing illness management screenings services, check-ups, treatment monitoring and coordination, and patient education. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.