Care Management Solutions Market by Component (Software, Services), Application (Disease Management, Case Management, Utilization Management), End-Uuser (Payers, Providers), & Region for 2024-2031
Report ID: 2197|No. of Pages: 202
Care Management Solutions Market by Component (Software, Services), Application (Disease Management, Case Management, Utilization Management), End-Uuser (Payers, Providers), & Region for 2024-2031
Care Management Solutions Market Valuation – 2024-2031
The growing older population, the frequency of chronic diseases, and a strategic change toward patient-centric care models that prioritize integrated healthcare solutions are driving the Care Management Solutions Market. According to the analyst from Verified Market Research, the Care Management Solutions Market is estimated to reach a valuation of USD 79.66 Billion by 2031 subjugating around USD 22.07 Billion valued in 2023.
Furthermore, technological improvements, such as the use of artificial intelligence and big data analytics, are strengthening the capabilities of care management systems, resulting in better patient outcomes and optimal healthcare resource usage. It enables the market to grow at a CAGR of 17.4% from 2024 to 2031.
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Care Management Solutions Market: Definition/ Overview
Care Management Solutions are a comprehensive set of services and technologies meant to help patients, particularly those with chronic or severe health conditions, efficiently manage their healthcare needs. These solutions, which include care planning, medication management, and patient education, aim to improve patient outcomes, improve care coordination, and lower healthcare costs. Care Management Solutions can be used for Chronic Care Management, which focuses on ongoing support for patients with long-term conditions; Transitional Care Management, which ensures smooth transitions between healthcare settings; and Behavioral Health Integration, which combines mental health care with primary care.
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What Factors are Propelling the Growth of the Care Management Solutions Market?
The increased prevalence of chronic diseases is a major driver in the Care Management Solutions Market. According to the World Health Organization (WHO), chronic diseases account for 71% of all deaths worldwide, or 41 million people per year. According to the Centers for Disease Control and Prevention (CDC), six out of ten adults in the United States have a chronic condition by 2023, with four out of ten having two or more. Given the high prevalence of chronic illnesses, efficient care management solutions are required to enhance patient outcomes and save healthcare costs.
Furthermore, rising healthcare expenses and a shift toward value-based care models are pushing the use of care management technologies. The Centers for Medicare & Medicaid Services (CMS) report that healthcare spending in the United States reached USD 4.3 Trillion in 2023, accounting for 18.3% of the country’s GDP. To address this, CMS reported that by 2023, 40% of U.S. healthcare payments would be related to alternative payment models (APMs) centered on value-based care, up from 35% in 2021. Care management systems promote value-based care initiatives by increasing care coordination and patient outcomes while lowering costs.
What are the Potential Impacts of Care Management Solutions Adoption in the Market?
The Care Management Solutions Market is extremely fragmented, with multiple companies providing a diverse variety of services and products. This fragmentation makes it difficult for a single company to create a strong market presence or brand recognition. Also, the diverse alternatives create uncertainty among healthcare providers and patients about which solutions best match their needs, eventually lowering adoption rates and complicating decision-making processes.
Furthermore, the lack of interoperability between various systems and platforms presents a key challenge in the Care Management Solutions Market. Many care management solutions use different data formats and standards, making it challenging to transfer information seamlessly between healthcare providers and systems. This lack of integration impedes efficient care coordination limits the ability to track patient outcomes completely, and reduces the overall efficiency of care management efforts.
Category-Wise Acumens
What are the Drivers that Contribute to the Demand for Care Management Software?
According to VMR analysis, the software segment is estimated to dominate the market during the forecast period. The rapid advancement of technology in healthcare has resulted in the creation of sophisticated software systems that improve care coordination and management. These advances help healthcare providers to easily monitor patient data, expedite procedures, and eliminate errors, resulting in higher overall care quality. As a result, the demand for complex software applications continues to rise, cementing the segment’s global leadership.
Software solutions are progressively being integrated into current health information technology systems, including electronic health records (EHRs) and telehealth platforms. This interface enables smooth data sharing and communication across healthcare providers, which is critical for optimal care management. The ability to leverage current IT infrastructure increases the attraction of software solutions, which contributes to their market leadership.
Furthermore, there is an increasing emphasis on patient-centered care approaches that stress tailored treatment and better health outcomes. Software solutions help healthcare practitioners adopt these approaches by providing tools for chronic illness management, patient involvement, and real-time monitoring. As healthcare businesses implement tactics to improve patient experiences and outcomes, the software segment is projected to maintain its market dominance.
What are the Potential Factors for the Growth of Care Management Solutions for Disease Management?
The disease management segment is estimated to dominate the Care Management Solutions Market during the forecast period. The rising prevalence of chronic diseases such as diabetes, heart disease, and obesity has increased the demand for disease management solutions. These solutions provide patients with targeted interventions and ongoing support, allowing them to better manage their diseases and enhance their health outcomes. As healthcare organizations strive to reduce hospitalizations and improve patient care, chronic illness management becomes increasingly important.
There is an increasing emphasis on preventive care in healthcare systems, which promotes early intervention and continuous management of chronic diseases. Disease management technologies aid in this transition by allowing healthcare providers to proactively monitor patient health, identify risk factors, and apply preventative treatments. This proactive strategy improves patient outcomes while also lowering total healthcare costs, making it a top priority for many companies.
Furthermore, the use of sophisticated technology such as telemedicine, mobile applications, and data analytics improves the efficacy of disease management systems. These technologies allow for real-time monitoring and communication between patients and healthcare practitioners, resulting in timely interventions and tailored care plans. As technology advances, its function in illness management becomes more crucial, resulting in increased acceptance and market growth in this segment.
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Country/Region-wise Acumens
What are the Key Factors that Contribute to North America’s Dominant Edge in the Market?
According to VMR Analyst, North America is estimated to dominate the Care Management Solutions Market during the forecast period. North America, particularly the United States, has a high prevalence of chronic diseases, which drives demand for care management solutions. According to the Centers for Disease Control and Prevention (CDC), by 2023, 6 out of 10 adults in the United States will have a chronic disease, with 4 out of 10 having two or more. According to the CDC, 37.3 million Americans (11.3% of the population) had diabetes in 2023, with 42% of adults being obese. This high chronic illness load needs effective care management systems to improve patient outcomes and save healthcare costs.
Furthermore, North America’s healthcare IT infrastructure is well-developed, making it easier to implement care management technologies. According to the Office of the National Coordinator for Health Information Technology (ONC), by 2023, 96% of all non-federal acute care hospitals in the United States had implemented certified health IT. Also, the Healthcare Information and Management Systems Society (HIMSS) predicted that 82% of North American healthcare providers used some type of care management solution in 2023, up from 75% in 2021. This solid IT infrastructure enables the deployment and integration of advanced care management technologies.
How does the Increasing Chronic Disease Burden Shape the Market Landscape in Asia Pacific?
The Asia Pacific region is estimated to exhibit the highest growth within the Care Management Solutions Market during the forecast period. The Asia Pacific region is experiencing increasing population aging and an increase in chronic disease burden, which is driving demand for care management solutions. According to the World Health Organization (WHO), noncommunicable diseases (NCDs) cause 89% of all deaths in the Western Pacific Region and 70% in South-East Asia. According to the International Diabetes Federation, diabetes prevalence in China alone will reach 11.2% by 2023, affecting roughly 158 million persons. This demographic transition, combined with an increase in illness burden, is pushing the adoption of care management solutions to improve healthcare delivery and patient outcomes.
Furthermore, rising healthcare costs and supportive government initiatives are driving the expansion of care management systems in the Asia Pacific region. According to the World Bank, healthcare spending as a proportion of GDP in East Asia and the Pacific rose from 6.7% in 2010 to 7.5% in 2023. In 2021, India’s government started the Ayushman Bharat Digital Mission, to create a digital health ecosystem. According to the National Health Authority of India, by 2023, nearly 300 million Indians had received unique health IDs as part of this effort. Such government-led digital health efforts are fostering the use of care management technologies throughout the region.
Competitive Landscape
The Care Management Solutions Market’s competitive landscape is fragmented, with multiple firms competing for market share across various areas such as software, services, and delivery modalities. This industry is seeing an increase in strategic activities such as partnerships, mergers, and acquisitions, as businesses seek to improve their product offerings and expand their geographical reach.
Some of the prominent players operating in the Care Management Solutions Market include Allscripts Healthcare Solutions, Inc., Cerner Corporation, Epic Systems Corporation, McKesson Corporation, Philips Healthcare.
Latest Developments
- In March 2023, Allscripts Healthcare Solutions launched a new care management platform designed to enhance patient engagement and streamline care coordination.
- In July 2023, Cerner Corporation announced a partnership with a major healthcare provider to implement its care management solutions, aiming to improve patient outcomes and reduce costs.
- In September 2023, Philips Healthcare introduced an AI-powered care management solution that integrates with EHRs to provide real-time insights and personalized care plans.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2031 |
| Growth Rate | CAGR of ~17.4% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2020-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis. |
| Segments Covered |
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| Regions Covered |
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| Key Players | Allscripts Healthcare Solutions, Inc., Cerner Corporation, Epic Systems Corporation, McKesson Corporation, Philips Healthcare. |
| Customization | Report customization along with purchase available upon request. |
Care Management Solutions Market, By Category
Component:
- Software
- Services
Application:
- Disease Management
- Case Management
- Utilization Management
- Others
End-User:
- Payers
- Providers
- Others
Geography:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL CARE MANAGEMENT SOLUTIONS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL CARE MANAGEMENT SOLUTIONS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL CARE MANAGEMENT SOLUTIONS MARKET, BY APPLICATION
5.1 Overview
5.2 Disease Management
5.3 Case Management
5.4 Utilization Management
5.5 Other Applications
6 GLOBAL CARE MANAGEMENT SOLUTIONS MARKET, BY END-USER
6.1 Overview
6.2 Payers
6.3 Providers
6.4 Other End Users
7 GLOBAL CARE MANAGEMENT SOLUTIONS MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East
8 GLOBAL CARE MANAGEMENT SOLUTIONS MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 EXL Service Holdings Inc.
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Casenet LLC
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Medecision Inc.
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 ZeOmega Inc.
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Cognizant Technology Solutions
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Cerner Corporation
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Allscripts Healthcare Solutions Inc.
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 TCS Healthcare Technologies
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 IBM Corporation
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Health Catalyst Inc.
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 Appendix
10.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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