Global Care Management Solution Market - PDF document

Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period G lobal care management solutio n Market - Industry Trends & Forecast Report 2027 Summary A recent study conducted by the strategic consultin g and market research firm BlueWeave Consulting revealed that the global care management solution market was worth USD 11.5 billion in the year 2020. According to th e study, the market is estimated to grow at a CAGR of 11.4%, earning revenue of around USD 24.3 billion by the end of 2027. The global care management solution market is flourishing at a high rate because of the increasing prevalence of chronic diseases an d the growing preference for patient - centric care. Furthermore, high healthcare expenditures are driving the need for a more cost - effective and high - quality healthcare system, which in turn is propelling the market growth. However, lack of sufficient IT in frastructure in developing and low - income countries, as well as a shortage of skilled professions, may act as a hindrance for the growth of the global care management solution market . Global Care Management Solution Market, By Component (Software, Services), By Deployment (On - Premise Solutions, Cloud - Based Solutions), By End U ser (Healthcare Payers, Healthcare Providers, Other End Users), By Application (Disease Management, Case Management, Utilization Management, Other Applications), By Region (North America, Europe, Asia - Pacific (APAC), Latin America (LATAM), Middle - East & Af rica (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017 - 2027 View report Press release Sample report Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period Report Overview The global care management solution market is flourishing due to factors such as the increasing preference for patient - centric care, as well as the need for more cos t - effective healthcare. Aside from that, government initiatives to lower the burden on healthcare payers are also driving the global market . The global care management solution market was worth USD 11.5 billion in 2020 and is further projected to reach USD 24.3 billion by the year 2027, growing at the CAGR of 11.4% in the forecast period. As patient - centric care continues to rise, along with he althcare expenditures, there is a growing demand for better cost - effective healthcare, thus fostering the growth of the global care management solution market. Furthermore, various government initiatives to lower the burden on healthcare payers are estimat ed to boost the market during the forecast period . Global Care Management Solution Market - Overvie w A care management solution is a wellness program that coordinates a set of activities along with the patient's long - term care. It helps to reduce overall medical costs. During this process, the patients' medical needs are easily and seamlessly aligned with the healthcare services provided by registered nurses who have specialized knowledge concerning disease management and lifest yle coaching. Care management solutions are becoming more and more popular among healthcare payers since they assist patients and caregivers in managing health conditions more effectively . Global Care Management Solution Market Forecast and Trend s Growth Dr iver s Benefits of Care Management Solutio n The adoption of care management solutions offers several benefits for both patients and healthcare service providers, which fuels the growth of the global care management solution. It offers workflow automation which is an essential part of caregiving. Usi ng automated care plans, healthcare providers can analyze both past and current health scenarios and treat them accordingly. In addition to developing customized treatments, care management solutions also offer data - driven solutions for improving health ou tcomes. These factors are driving the growth of the global care management solution market . Growth Potential in The Emerging Economie s The rising healthcare expenditure, government initiatives, and developing IT infrastructure in emerging economies are som e of the major growth factors for the global care management solution. Several countries, including India and China, are investing heavily in information technology (IT) and healthcare. These Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period countries are now emerging as hubs for healthcare and IT. As a r esult of these developments, the global market is seeing immense opportunities because citizens are waking up to the benefits of the care management system due to digitization and increasing internet usage . Restraint s Lack of Skilled Healthcare Professiona l s Information technology and advanced technologies play a crucial role in the adoption of care management solutions. Unfortunately, the lack of sufficient IT infrastructure and healthcare providers well versed in this technology pose great threats to the growth of the global care management solution market. Furthermore, healthcare organizations need to maintain a proper server and operational workflow for providing proper and timely healthcare services. In emergency situations, any mismanagement can lead t o severe consequences, negatively affecting the global market for care management solutions . Impact of COVID - 19 on Global Care Management Solution Marke t The COVID - 19 brought a tremendous amount of burden on the entire healthcare system. With the ever - incr easingCOVID - 19 cases, it was getting tiresome to manage patients suffering from coronavirus infection, as well as other medical conditions. In such a scenario, the global care management solution market emerged as a proficient solution for healthcare provi ders to integrate solutions to deliver healthcare services. Furthermore, as a result of the lockdown, hospital visits were also limited, which provided significant growth opportunities for health care management solutions globally . Global Care Management S olution Market - By Componen t Based on components, the global care management solution market is segmented into software and services. The software segment captures the largest market share and is expected to remain at its dominant position in the forecast period as well. Software solutions provide simple user interfaces that are easy to use, especially for geriatrics. It helps patients monitor, record, and share their vitals which proves to be effective in diagnosis and treatment. Furthermore, the affordabi lity of the software also favors the growth of this segment . Global Care Management Solution Market - By Deploymen t Based on deployment, the global care management solution market is categorized into on - premise solutions and cloud - based solutions. The on - p remise segment covers the largest market share. However, its share is expected to decline during the forecast period and is projected to take over by cloud - based solutions. The increasing penetration of medical technologies and smartphones, along with the rising demand for home care settings are some of the major factors propelling the growth of this segment. Furthermore, cloud - based solutions offer the convenience Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period of remote data access and sharing, contributing to the overall increase in the market . Global Care Management Solution Market - Regional Insight s Geographically, the global care management solution market is segmented into North America, Europe, Asia - Pacific, Latin America, Middle - East & Africa. Because of advancements in healthcare infrastructure , North America dominates the market for cloud - based solutions. Furthermore, the growing awareness regarding management solutions and an increasing number of senior citizens who are under home - based care are contributing greatly to the growth of the global care management solution market in the region. The European market, on the other hand,is also gaining traction and is expected to grow at a substantial rate during the forecast period . Competitive Landscap e The leading play ers in the global care management solution market are Zeomega Inc., Koninklijke Philips N.V., Allscripts Healthcare Solutions, VirtualHealth, Trizetto Corporation, Nextgen Healthcare, Inc., Axispoint Health, Health Catalyst LLC., Phytel Inc., Epic Corporat ion Inc., Cerner Corporation, Medecision Inc., Mediware Information Systems, Salesforce, Inc., EXL Healthcare, Athenahealth, Inc., I2I Systems Inc., Healthsmart Holdings Inc., Pegasystems Inc., and other prominent players . The market is consolidated with t he presence of leading players such as Philips. However, as the market is still growing, it has huge potential for new entrants as well. The leading players in the market have been adopting competitive strategies, such as partnerships, mergers and acquisit ions, collaborations, and many others, to broaden the solutions and services they offer and strengthen their niches in different geographical locations . Recent Developmen t  In August 2021, Keystone Healthcare Partners, a US - based provider of Emergency Medicine, Hospital Medicine, and Telehealth clinical management services, announced its partnership with EmOpti, a Wisconsin - based company, and HealthTalk A.I., a Virginia - based company to deli ver high - quality patient - centered care through innovative management solution s  In August 2021, Evolent Health Inc., a US - based healthcare delivery company, and WindRose Health Investors, a US - based capital market company, announced their definitive agreement for Evolent to acquire the latter’s portfolio company Vital Decisions . Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period Scope of the Repor t A ttribute s Detail s Years Considere d Historical data – 2017 - 202 0 Base Year – 202 0 Forecast – 2021 – 202 7 Facts Covere d Revenue in USD Billio n Market Coverag e U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabi a Product Service/Segmentatio n By Component, By Deployment, By End - User, By Application, By Regio n Key Player s Zeomega Inc., K oninklijke Philips N.V., Allscripts Healthcare Solutions, VirtualHealth, Trizetto Corporation, Nextgen Healthcare, Inc., Axispoint Health, Health Catalyst LLC., Phytel Inc., Epic Corporation Inc., Cerner Corporation, Medecision Inc., Mediware Information S ystems, Salesforce, Inc., EXL Healthcare, Athenahealth, Inc., I2I Systems Inc., Healthsmart Holdings Inc., Pegasystems Inc., and other prominent players . Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period By Componen t  Softwar e  Service s By Deploymen t  On - Premise Solution s  Cloud - Based Solution s By End - Use r  Healthcare Payer s  Healthcare Provider s  Other End - User s By Applicatio n  Disease Managemen t  Case Managemen t  Utilization Managemen t  Other Application s By Regio n  North Americ a  Europ e  The Asia - Pacifi c  Latin Americ a  The Middle East & Afric a Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Care Management Solution Market is Expected to Witness Vigorous Growth: Projected to Grow at a CAGR of 11.4% in the Forecast Period