New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chronic Disease Management Global Market Report 2023" - https://www.reportlinker.com/p06319487/?utm_source=GNW
, TriZetto Corporation, Cognizant, IBM Corporation, Harmony Information Systems Inc., EXL Healthcare, Altruista Health, HealthSmart Holdings Inc., Health Catalyst, Epic Systems Corporation, and Casenet LLC.
The global chronic disease management market grew from $6.89 billion in 2022 to $8.34 billion in 2023 at a compound annual growth rate (CAGR) of 21.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The chronic disease management market is expected to grow to $17.68 billion in 2027 at a CAGR of 20.7%.
The chronic disease management market includes revenues earned by entities by providing illness management screenings services, check-ups, treatment monitoring and coordination, and patient education.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The chronic disease management refer to software and tools used to manage the symptoms of long-term conditions and delay the advancement of chronic conditions to ensure the safety of life.
North America was the largest region in the chronic disease management market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the chronic disease management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The chronic disease management solutions are deployed through on-premises, cloud-based or web-based platforms.The on-premises deployment of chronic disease management solutions and services refers to software solutions and tools that are implemented in-house and as part of an organization’s IT infrastructure where the solution, as well as any connected procedures, are the responsibility of the enterprise.
They are used for the management of different diseases which includes cardiovascular diseases, diabetes, cancer, asthma, and chronic obstructive pulmonary disorders.The services in chronic disease management include consulting services, implementation services, and educational services.
Chronic disease management services are utilized by both providers and payers.
The rise in the geriatric population is significantly driving the growth of the chronic disease management market.The geriatric population refers to people above the age of 65 years.
Geriatric people have the highest chance of suffering from chronic diseases.Chronic illness often results in an increased need for medical care and supportive long-term care services, increasing the need for the chronic disease management solutions.
According to report published in October 2021 by WHO, the proportion of the world’s population over 60 years old would nearly double from 12% to 22% between 2015 and 2050. Thus, an increase in the geriatric population will propel the chronic disease management market.
Technological advancement is a key trend gaining popularity in the chronic disease management market.Advanced technologies like artificial intelligence (AI) are being adopted to treat chronic diseases.
By utilizing AI, medical personnel can witness advances in early intervention and patient outcomes for patients suffering from heart disease, cancer, and diabetes.For instance, in February 2022, Biofourmis, a Boston-based startup specializing in artificial intelligence-driven virtual care and digital pharmaceuticals, has developed Bioformis Care, a service that provides high-quality remote care to patients suffering from chronic diseases.
Biofourmis Care will concentrate on increasing provider adherence to care recommendations and spotting patterns of clinical deterioration to allow for early treatments.
In March 2022, Phablecare, an India-based chronic disease management company, acquired Fused Training for an undisclosed amount.Through this acquisition, Phablecare will expand and strengthen its Type1 diabetes verticle.
Fused Training is an India-based diabetes management company that provides support to people living with diabetes.
The countries covered in the chronic disease management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The chronic disease management market research report is one of a series of new reports that provides chronic disease management market statistics, including Chronic disease management industry global market size, regional shares, competitors with a chronic disease management market share, detailed chronic disease management market segments, market trends and opportunities, and any further data you may need to thrive in the chronic disease management industry. This chronic disease management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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