Farmington, March 30, 2023 (GLOBE NEWSWIRE) — The Global Care Management Market Was Valued At US$ 11.5 Billion In 2022, And Is Projected To Reach US$ 33.3 Billion By 2030, Growing at a CAGR Of 14.41% From 2023 To 2030. North America is the largest market for care management solutions, according to the report. Europe, Asia Pacific, Latin America, and the Middle East and Africa are the next largest markets. The global care management market is the market for healthcare software solutions and services that help healthcare providers manage and coordinate patient care across multiple settings and care teams. The need for efficient and cost-effective healthcare delivery, rising healthcare costs, and a growing focus on patient-centered care are all things that are driving the care management market.
Cerner Corporation, IBM Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, Koninklijke Philips N.V., and Optum, Inc. are all big names in the care management market. These companies are putting money into research and development to come up with new and better ways to manage care and meet the growing demand for care that is integrated and focused on the patient.
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Mode of Delivery Insights:
On-premise delivery means that care management services are given by software that is installed on local servers. This method is popular because, compared to cloud-based software, it gives users more control and safety. Care management services can be given through a mobile-based delivery method by using mobile apps. This type of delivery is popular because it gives users more freedom and access than web-based or on-premise software.
End User Insights:
This segment includes hospitals, clinics, and other medical facilities that offer care management services to their patients. Healthcare providers use care management solutions to manage patient care plans, track patient health, and improve care outcomes. They also use these solutions to make sure that patients take their medicines, go to follow-up appointments, and do other things that are part of their treatments. Care management solutions help hospitals, primary care clinics, and home care providers coordinate care in a variety of settings, such as hospitals, clinics, and homes.
Payers are insurance companies, government agencies, and other groups that pay for healthcare services. Payers use care management solutions to keep track of their members’ costs and the quality of care they get. These solutions help payers find patients who are at high risk, give them targeted care, and cut down on hospital readmissions. Care management solutions are used by payers to improve the health of their members and keep costs down.
North America is the biggest market for care management because it has the most people with chronic diseases, it has the most advanced healthcare infrastructure, and healthcare costs are rising there. The United States is the biggest contributor to the North American market. This is because healthcare IT solutions are used a lot there, and the government is doing more and more to improve the quality of healthcare and lower costs.
Care management is a growing market in Latin America. This is because the government is doing more to improve healthcare infrastructure, healthcare spending is going up, and the number of patients is growing. The Latin American market is mostly made up of Brazil, Mexico, and Argentina.
The care management market is expected to grow slowly in the Middle East and Africa because more money is being spent on health care and the infrastructure for health care is getting better. The Middle East and Africa market is mostly made up of Saudi Arabia, the United Arab Emirates, South Africa, and Egypt.
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Scope of Report:
|Growth Rate||CAGR of 14.41% from 2023 to 2030.|
|Revenue Forecast by 2030||USD 33.3 Billion|
|By Component||Services, Software, Other|
|By Mode of Delivery||Web-based, Cloud-based, On-premise, Other|
|By End-use||Healthcare Providers, Healthcare Payers, Other|
|By Companies||Allscripts Healthcare, LLC, Epic Systems Corp., Cognizant, ExlService Holdings, Inc., Koninklijke Philips N.V., Cerner Corp. (Oracle), ZeOmega, Medecision, IBM|
|Regions and Countries Covered||
|Historical Year||2017 to 2022|
|Forecast Year||2023 to 2030|
Government initiatives: Governments all over the world are putting in place programs to encourage the use of healthcare IT and lower healthcare costs. For example, the US government passed the Medicare Access and CHIP Reauthorization Act (MACRA) to encourage healthcare providers to use value-based care models and lower healthcare costs.
Patient-centric care: Care that puts the patient first is getting more attention around the world. Patients are getting more involved in their care and asking for personalized and coordinated care across different care settings and teams. Care management solutions can help healthcare providers meet these needs by letting them give coordinated, patient-centred care.
Value-based care and population health management: The need for care management solutions is being driven by the move toward value-based care models. Value-based care models try to improve health outcomes at a lower cost by making care coordination and managing the health of a population better. Care management solutions can help healthcare providers reach these goals by letting them manage and coordinate care across different care settings and teams.
Privacy and security concerns: Concerns about privacy and safety have been raised by the use of electronic health records and other IT solutions in health care. Patients worry about the safety of their health information, so they may not want to share it with their doctors.
Resistance to change: Care management solutions can be hard to implement, especially in healthcare organizations that are used to doing things a certain way. Resistance to change can make it hard for people to adopt something, especially in organizations that already have high workload.
Lack of skilled personnel: Care management solutions need to be set up and used by people with the right skills. This includes IT professionals, healthcare providers, and administrative staff. In developing countries, especially, it can be very hard to find skilled workers in these fields.
Expansion into emerging markets: The market for care management has a big chance to grow in emerging markets. As healthcare spending goes up in these markets, there will be a growing need for care management solutions that can help healthcare providers manage and coordinate patient care.
Development of AI and machine learning technologies: AI and machine learning technologies could change the way care is managed by letting doctors look at a lot of patient data and find patterns and insights that can help them decide how to treat patients.
Use of telemedicine: As a result of the COVID-19 pandemic, there has been a big rise in the use of telemedicine. Care management solutions can help telemedicine by letting doctors access patient information and coordinate care from a distance.
Focus on patient engagement: In healthcare, patient involvement is getting more and more attention. Care management solutions can help to get patients involved in their care by giving them access to their health records and letting them take part in their care.
Data privacy and security concerns: Care management involves gathering and sharing sensitive information about patients, which raises privacy and security concerns. To follow the rules and protect patient privacy, healthcare organizations need to make sure they have strong data protection measures in place.
Cost constraints: Smaller organizations may not be able to get into care management because it requires a lot of money to be spent on technology, infrastructure, and people. Cost constraints in healthcare systems can also make it hard to get enough money for care management projects.
Workforce shortages: There aren’t enough people working in health care, especially in fields like nursing and home care. This can make it hard for health care organizations to offer high-quality care management services.
Key Segments Covered:
Top Market Players:
Allscripts Healthcare, LLC, Epic Systems Corp., Cognizant, ExlService Holdings, Inc., Koninklijke Philips N.V., Cerner Corp. (Oracle), ZeOmega, Medecision, IBM, and others.
By Mode of Delivery
- Healthcare Providers
- Healthcare Payers
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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