The latest report by IMARC, titled “Care Management Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global care management solutions market size reached US$ 13.21 Billion in 2021. Care management solutions refer to numerous advanced and integrated solutions that improve care management capabilities across the case, utilization, and disease management. These solutions include patient intake, care plan creation, clinician and care coordination, analytics, patient engagement, and reporting. They are widely used for transforming care management into a data-driven, automated activity that offers more targeted and effective health information. They increase efficiency, enhance cost and quality of care, streamline workflows, save time, and drive revenue growth simultaneously. In recent years, global care management solutions have gained traction due to their wide employment among healthcare organizations and service providers to improve clinical outcomes, enhance patient care quality, minimize costs, and personalize healthcare interventions.
Global Care Management Solutions Market Trends:
One of the primary factors driving the market is the shifting focus toward patient-centric care. Additionally, these solutions assist in efficiently managing patient health records and enhancing the quality of a patient’s life by reducing complications with early care intervention, thereby creating a positive market outlook. Other than this, the increasing geriatric population, along with the rising number of individuals being diagnosed with chronic conditions, such as diabetes, cancer, and cardiovascular diseases (CVDs), are positively influencing the market growth. Besides this, the growing need to minimize costs on account of the rising healthcare expenditures is also contributing to the market growth. In line with this, the sudden outbreak of coronavirus disease (COVID-19) is augmenting the demand for care management solutions for accurate diagnosis, treatment, and monitoring COVID-19 patients. Furthermore, key players are introducing new and innovative care management solutions integrated with advanced technologies, including artificial intelligence (AI), the Internet of Things (IoT), and big data, to expand their consumer base. Moreover, extensive investments in healthcare technology (HCIT) solutions, technological advancements, enhanced healthcare infrastructure, and rapid urbanization are creating lucrative growth opportunities for key players operating in the industry. Looking forward, IMARC Group expects the market value to reach US$ 27.94 Billion by 2027, expanding at a CAGR of 12.50% during the forecast period (2022-2027).
- Based on the type, the market has been bifurcated into software and services.
- On the basis of the delivery mode, the market has been divided into cloud-based and web-based, and on-premises.
- Based on the application, the market has been segregated into chronic care management, disease management, and utilization management.
- On the basis of the end user, the market has been segmented into healthcare payers, healthcare providers, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Allscripts Healthcare Solutions Inc., Cerner Corporation, Cognizant, Epic Systems Corporation, Exlservice Holdings Inc., i2i Population Health, International Business Machines Corporation, Koninklijke Philips N.V., Medecision Inc. (Health Care Service Corporation), Pegasystems Inc., Salesforce.com Inc., and Zeomega Inc.
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