$15.38+ Billion Worldwide Chronic Disease Management Industry to 2031 - Rise in the Geriatric Population is Significantly Driving Growth
Global Chronic Disease Management Market
Dublin, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The "Chronic Disease Management Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global chronic disease management market.
The global chronic disease management market is expected to grow from $5.87 billion in 2021 to $6.95 billion in 2022 at a compound annual growth rate (CAGR) of 18.45%. The market is expected to reach $15.38 billion in 2026 at a CAGR of 21.97%.
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Major players in the chronic disease management market are Allscripts Healthcare Solutions Inc, ScienceSoft USA Corporation, Siemens Healthcare Private Limited, Infosys Limited, MINES & Associates Inc, 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 chronic disease management market consists of the sales of chronic disease management solutions and services by entities (organizations, partnerships, and sole proprietors) that 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. An integrated care strategy for illness management includes screenings, check-ups, treatment monitoring and coordination, and patient education.
The chronic disease management solutions are deployed through on-premise, 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.
North America was the largest region in the chronic disease management market in 2021. 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 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) is 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.
No. of Pages
2022 - 2026
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2026
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Chronic Disease Management Market Characteristics
3. Chronic Disease Management Market Trends And Strategies
4. Impact Of COVID-19 On Chronic Disease Management
5. Chronic Disease Management Market Size And Growth
5.1. Global Chronic Disease Management Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Chronic Disease Management Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Chronic Disease Management Market Segmentation
6.1. Global Chronic Disease Management Market, Segmentation By Service, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Chronic Disease Management Market, Segmentation By Delivery Mode, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Chronic Disease Management Market, Segmentation By Disease Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Chronic Obstructive Pulmonary Disorders
6.4. Global Chronic Disease Management Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Chronic Disease Management Market Regional And Country Analysis
7.1. Global Chronic Disease Management Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Chronic Disease Management Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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