Market overview:
Healthcare IT services and advanced digital healthcare technology have received widespread attention in recent years, helping to propel the chronic disease management industry forward. The increasing adoption of medical information technology and the various online resource options available in healthcare drive the chronic disease management market. These services are designed to treat chronic illnesses and reduce patients’ severity.
The chronic disease management market value USD 4.69 billion in 2021 and is expected to reach USD 15.82 Billion by 2030 at 13.82% CAGR during the forecast period 2022-2030.
Chronic disease is the primary concern of older people predisposed to obesity and diabetes. The world’s growing middle-class population, combined with rising urbanisation rates, raises the risk of chronic illness because these factors are associated with a sedentary and sluggish lifestyle. As a result, obesity and diabetes are on the rise among young people and the elderly. The healthcare industry has expanded into retail, telecommunications, technology, and wellness & fitness to provide preventative healthcare services and patient-centric care and introduce innovative chronic disease management solutions.
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As the prevalence of COVID-19 has increased, so has the demand for accurate diagnosis and treatment devices in several countries. Chronic disease management solutions have proven extremely beneficial in this regard. They enable healthcare providers to seamlessly integrate EHR, patient management, and care management solutions with healthcare payer solutions such as claim management and payment management. Furthermore, the rapid worldwide spread of the coronavirus has resulted in restrictions and lockdowns, increasing demand for electronic data transfer and claim management. This is also expected to increase the use of chronic disease management in the coming years.
Major Key Players
- TriZetto Corporation (US)
- Infosys Limited (India)
- Pegasystems Inc. (US)
- Siemens Healthcare Private Limited (Germany)
- MINES & Associates, Inc. (US)
- Allscripts Healthcare Solutions, Inc. (US)
- Koninklijke Philips NV (Netherlands)
- EXL Healthcare (New York)
- Harmony Information Systems, Inc.(US)
- ScienceSoft USA Corporation (US)
Market segmentation:
The chronic disease management market is divided into type, application, and end-user segments. During the forecast period, the global chronic disease management market is expected to grow moderately.
By type:
The chronic disease management market is divided into solutions and services based on type.
By application:
Based on application, the chronic disease management market is divided into safety arthritis, diabetes, cancer, cardiovascular disease, and others.
By end user:
The chronic disease management market is divided into three segments based on propulsion types: providers, payers, and others.
Regional analysis:
The chronic disease management market has been divided into four regions: the Americas, Europe, Asia-Pacific, the Middle East and Africa.
Europe accounted for the second-largest chronic disease management market, owing to rising healthcare costs and an ageing population. Furthermore, rising healthcare spending is driving the market growth. The Asia-Pacific region was expected to be the fastest growing region for companies in the chronic kidney disease management market. The market is expected to grow due to an increasing population and a desire for technologically advanced therapies. Cancer is common in developing countries and cities such as Japan, Hong Kong, and India, encouraging market expansion.
However, the chronic disease management market is expected to grow in the Middle East due to increased hospitalisation and rising product demand.
Recent developments:
In June 2022, The Landon Pediatric Foundation (LPF), a non-profit healthcare organisation based in California, is collaborating with Vironix Health, an Austin-based digital healthcare company, to develop artificial intelligence (AI) and remote patient monitoring (RPM). It enhances care for patients suffering from chronic heart and lung diseases. Every year, heart and lung disease-account for a significant portion of chronic disease diagnosis, medical costs, and death in the United States. The new collaboration combines lung and cardiovascular disease progression and patient care expertise with AI-enabled RPM capabilities to provide patients with more accessible care and improve their health.
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