Care Management Solutions Market Size to Hit US$ 35.44 Bn by 2030

London, April 05, 2022 (GLOBE NEWSWIRE) -- The global care management solutions market is expected to registered growth at a notable CAGR of 11.4% during the forecast period 2022 to 2030.

The care management solutions market is anticipated to witness rapid growth owing to the growing senior population and the burden of habitual conditions. With the perpetration of enterprise to shift the burden of threat towards healthcare provider from healthcare payers, care management solutions offer a source in order to reduce healthcare costs and government enterprise to promote case-centric care.

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In addition, the market is anticipated to witness growth, owing to the care operation consolidated technique and integrated patient’s care, which further enhances the quality of life by inhibiting problems with early care intervention. This leads to decline in healthcare costs and it further lowers the burden on healthcare payers & providers. Thus, the above mentioned factors are anticipated to boost the growth of the care management solutions market, worldwide.

The huge growth of the diseases management solutions segment is owing to the capability of these results to diminish the cost of care with the help of protocol operation and help ill health through comprehensive health operation. Individualities with habitual complaint conditions are reckoned for the maturity of the healthcare expenditure, and therefore, complaint operation reduces the outpatient and inpatient costs. Likewise, with the rising habitual complaint frequency and rising awareness, the habitual care management segment is also likely to witness strong growth during the cast period.

Report Highlights

• Based on component, the market is segmented into software and services. Software accounted for the largest share in 2020 and is expected retain its dominance through 2030. The segment is also poised to register the fastest growth rate over the forecast period, thanks to ease of use and affordability of software.
• Based on mode of delivery, the care management solutions market is segmented into web-based, cloud-based, and on premise. The web-based segment accounted for the largest share in 2020, while cloud-based offerings are expected to register the fastest growth rate over the forecast period.

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Regional Snapshot

North America comprises of the largest market share and is expected to retain its dominance throughout the forecast period, owing to the IT solutions advancements and a rise in demand for scalable and affordable solutions to curb healthcare costs. In addition, Asia-Pacific region is further expected to experience a high growth rate in the care management solutions market, in the upcoming time period, owing to the growing government initiatives and the increasing aging population. Furthermore, the market of Asia Pacific region further has lucrative opportunities. Enhancement of healthcare amenities due to rapid economic growth witnessed in emerging countries such as Japan, China, South Korea, and India is one of the high impact market drivers. Growing investments & interest by protruding industry players and ongoing collaborations are also responsible for the growth of the region.

Market Dynamics

Drivers

Implementation of initiatives to shift the burden of risk from healthcare payers to providers

Globally, numerous initiatives have been implemented in order to pass the risk borne burden of the healthcare payers to providers. This shift encourages the adoption of healthcare information technology (HCIT) solutions to reduce unnecessary costs and enhance the efficiency of healthcare delivered. Furthermore, value-based care is further promoted via alternative payment models such as physician incentives, bundled payments, and consumer incentives, are few among others. These models of payment are designed in order to motivate healthcare providers to receive the creditability of care delivered, therefore leading to the shift of risk to providers from payers.

Restrains

Shortage of skilled professionals

The operational usage of care management solutions requires a strong IT support and IT infrastructure at the solution provider’s end as well as within the organization. In a healthcare organization, there is an unceasing need for technical support for the maintenance of the network and server for optimum interfacing care management speed solutions and smooth work flow. If the management of the network or server is insufficient, it causes generation of screen loads, which reduces down the clinical workflow.

Opportunities

Emerging countries offer high-growth potential

A number of factors, similar as the perpetration of government enterprise supporting the adoption of HCIT results and rising government healthcare expenditure, are driving the growth of this market in Asia. Technological advancements are playing a crucial part as authorities in China are fastening on reforming the country’s healthcare operation sector, which is presently facing challenges similar as underfunded pastoral health centers, overburdened megacity hospitals, and a civil deficit of doctors. The Indian government started the Digital India crusade in July 2015 to insure that government services are made available to citizens electronically by perfecting IT structure and perfecting internet connectivity in the country. Government enterprise for the perpetration of HCIT results, rise in government spending on healthcare systems, and the presence of professed IT experts are favoring the growth of the care operation results market in the Asia Pacific region.

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Challenge

Data breaches and loss of confidentiality

The digitization of medical/ patient information has created huge data pitfalls and arrears and increased the chance of data breaches. This could be substantially due to a lack of internal control over patient information, adherence to outdated programs and procedures/non-adherence to being bones, and inadequate training. The eventuality for confidentiality and data security breaches associated with digitization might affect the relinquishment of HCIT results in the short term until and unless certain measures are taken to resolve present issues. As a result, this may negatively impact the growth of the request.

Market Segmentation

By Component

• Software
• Services

By Mode of Delivery

• Web-based
• Cloud-based
• On premise
  
  

By End User

• Healthcare providers
• Healthcare payers
• Others
  
  

By Application

• Disease Management
• Case Management
• Utilization Management
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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