Chronic Disease Management Market Scope
Chronic disease management market can possibly accrue a growth rate of 14.5% By 2025 (review period), asserts Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, along with all the latest developments in the global chronic disease management market following the coronavirus disease outbreak.
Top Drivers and Key Challenges
Diabetes, obesity and hypertension have emerged as some of the primary chronic diseases following the COVID-19 outbreak. Since a substantial portion of expenditure and resources are going to mitigating the pandemic, the chronic disease management aspect has been negatively impacted. The lockdown is another hurdle for the patients, who are already observing delay in treatment and diagnosis. However, since the onset of SARS-CoV-2, an increasing number of healthcare facilities as well as patients have been using digital platforms for better access to medical care, thereby catapulting the growth of the care management market worldwide.
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Chronic disease, especially among the older population, has been a major concern for years. The increasing middle-class population and rising urbanization also adds to the concern, as sedentary lifestyle has gained immense prevalence. As a result, obesity and diabetes cases are observing an upward trajectory at an alarming rate. The healthcare industry is now more focused on preventive health services as well as patient-centric care, opening doors for telecommunications, retail, wellness and fitness and technology industries to develop advanced solutions for chronic disease management.
Chronic disease management has gained significant impetus in recent years, with the rapid increase in the demand for health information-based technologies and the rising need for sophisticated online healthcare platforms. Many of the prominent market firms are focusing on partnership, collaboration and acquisitions with healthcare vendors to focus more on patient-centric care.
To illustrate, in August 2020, Teladoc acquired Livongo to boost its presence in the world of virtual healthcare, as the novel coronavirus spreads rapidly across the world. This acquisition establishes Teladoc Health’s presence in the healthcare industry, backed by Livongo’s expertise in chronic disease management.
Chronic Disease Management Market Segmental Analysis
The chronic disease management industry can be segmented with respect to solution, delivery mode, application, and end user.
The key solutions listed in the chronic disease management market study are consulting solution, implementation solution, educational solution, and more.
Some of the key application areas covered include cardiovascular disease, safety arthritis, diabetes, cancer, and others.
On-premises, web-based and cloud-based are the delivery modes studied in the chronic disease management market report.
Payers, providers, and more are the top chronic disease management market end-users.
Chronic Disease Management Market Regional Outlook
The chronic disease management market size has been evaluated by MRFR in its latest study, with respect to Europe, the Americas, MEA/Middle East & Africa and APAC/Asia Pacific.
The American chronic disease management market can most likely be the biggest gainer, given the escalating need for chronic disease management in light of the rising cases and the high spending on research and development/R&D for biotech and pharma firms. The region houses some of the top 10 chronic care management companies in the world, including Allscripts Healthcare Solutions Inc., ScienceSoft USA Corporation, to name a few.
Europe claims the second position in the global chronic disease management market, with tremendous growth resulting from the escalating health related issues and the growing elderly population. This has given way to higher spending on healthcare services, in conjunction with the rise in government policies that supports introduction of advanced solutions.
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APAC is all set to be the fastest gainer in the worldwide chronic disease management market, in view of the exploding population and the significant demand for highly advanced treatments and services. The alarming rise in cancer cases across developing nations like Japan, India and Hong Kong has also contributed massively to the market growth in recent years. The expanding medical tourism industry along with the favorable growth of healthcare IT solutions has also benefitted the chronic condition management market across Asia Pacific.
Chronic Disease Management Market Leading Worldwide Firms
Leading firms in the global chronic disease management market include MINES & Associates Inc. (US), TriZetto Corporation (US), Siemens Healthcare Private Limited (Germany), EXL Healthcare (New York), Koninklijke Philips NV (Netherlands), Allscripts Healthcare Solutions, Inc. (US), Harmony Information Systems, Inc.(US), Infosys Limited (India), Pegasystems Inc. (US), ScienceSoft USA Corporation (US), to mention a few.
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