The Global Chronic Disease Management Market size is expected to reach $9.9 billion by 2028, rising at a market growth of 11.7% CAGR during the forecast period.
The treatment of chronic diseases is managed by an integrated care strategy that involves patient education, screenings, checkups, monitoring, and coordination of care. While lowering healthcare expenses, it can raise life quality. An ailment that lasts for a year or longer, necessitates continuing medical care, and/or restricts a person's everyday activities is often referred to as a chronic disease.
Heart disease, chronic respiratory diseases, high blood pressure, diabetes, stroke, asthma, and cancer are a few of the most prevalent chronic illnesses. Metabolic and behavioural risk factors are the two primary risks linked to chronic disease. In contrast to the metabolic risk factors, which include obesity, hyperglycemia, and high blood pressure, the behavioural risk factor includes the use of tobacco, inactivity, unhealthy eating, and problematic alcohol use.
The increase in the elderly population and the rise in the prevalence of numerous chronic diseases, such as cancer and others, are the main drivers of the chronic disease management market's expansion. For example, as per the NCBI, 43 percent of all diseases and 60 percent of deaths worldwide are caused by chronic conditions. Additionally, non-communicable diseases impact people of all ages, geographical areas, and nations, according to the WHO (NCDs).
Additionally, the growth of the Chronic Disease Management Market is driven by the rise in acceptance of chronic disease management as a result of the incorporation of IT solutions. To help people effectively manage their disease, a variety of initiatives have been developed by healthcare professionals, organizations, and payers. Such initiatives, in contrast to conventional patient education, place a stronger emphasis on problem-solving as well as social coping strategies in order to increase self-efficacy in the field of care management.
The market for managing chronic diseases continues to benefit from COVID-19's overall effects. The rising incidence of COVID-19 has increased the requirement for precise diagnostic and therapeutic tools in a number of nations. The ability of healthcare providers to easily connect solutions like patient management, EHR, and care management with healthcare payer solutions like claim management & payment management has shown to be quite beneficial in this regard. Additionally, the disease's quick global spread has led to lockdowns and other limitations, which has raised the demand for electronic data transfer & claim administration. In the upcoming years, it is anticipated that this will enhance the popularity of chronic disease management.
During the forecast period, the incidence of chronic diseases like diabetes, cancer, high blood pressure, and others would increase, boosting the market's growth rate. Given that older people are more likely to be obese and have diabetes, chronic diseases are a significant source of worry for them. Numerous patients undergoing chronic disease management face socioeconomic obstacles that make it challenging for them to routinely obtain and pay for healthcare treatments. If these patients lack the necessary funds, they may postpone or forego necessary therapy.
Because life expectancy has increased over time, there are steadily more people in their 60s and older. As per the United Nations Database on World Population Ageing 2020, that there will be 1.5 billion elderly people worldwide by 2050, up from 727 million in 2020. The danger of developing chronic diseases is higher in the elderly, which drives up demand for the chronic disease management market. Since older population are more prone to various disease, particularly chronic ones, companies are majorly aiming at the introduction of advanced and improved solutions in the market.
Delivering high-quality patient care depends on effective communication, which is also the cornerstone of provider-patient interactions. Providers are better able to offer the proper treatment when patients feel understood and heard. Long after the appointment has ended, the same patients are more willing to follow the recommended treatment strategies. The pandemic caused a profound change in patient expectations and behaviour.
Based on disease type, the chronic disease management market is segmented into Cardiovascular diseases, Diabetes, Cancer, Asthma, Chronic obstructive pulmonary disorders, and Others. The cancer segment witnessed a promising revenue share in the chronic disease management market in 2021. It is owing to the growing cases of various types of cancers among individuals. Typically, cancer types are called for the organs or tissues in which they first appear.
On the basis of type, the chronic disease management market is bifurcated into Solutions and Services. The solutions segment acquired the highest revenue share in the chronic disease management market in 2021. The expansion of the chronic illness management system and the market are driven by the increased awareness of the utilization of cloud-based and on-premise solutions in healthcare.
By end-user, the chronic disease management market is classified into Healthcare Providers, Healthcare Payers and Others. Healthcare Payers segment procured a significant revenue share in the chronic disease management market in 2021. The market is expanding as a result of the increase in geriatric population and the incidence of chronic diseases. Organizations that determine service prices, process claims, collect payments, and pay provider claims include payers in the health care sector like Medicare, health plan providers, and Medicaid.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 4.5 Billion |
| Market size forecast in 2028 | USD 9.9 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 11.7% from 2022 to 2028 |
| Number of Pages | 232 |
| Number of Tables | 372 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Disease Type, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the chronic disease management market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged the leading region in the chronic disease management market with the highest revenue share in 2021. This is explained by an increase in chronic disease occurrences, the presence of important figures, and improvements in healthcare in the area. For instance, six out of ten Americans have at least one chronic illness, such as diabetes, cancer, heart disease, or a stroke, all of which are major contributors to this country's rising healthcare expenses and are major causes of mortality and disability.
Free Valuable Insights: Global Chronic Disease Management Market size to reach USD 9.9 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; ExlService Holdings, Inc. is the major forerunner in the Chronic Disease Management Market. Companies such as Health Catalyst, Inc., AllScripts Healthcare Solutions, Inc. and Koninklijke Philips N.V. are some of the key innovators in Chronic Disease Management Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infosys Limited, ExlService Holdings, Inc., Health Catalyst, Inc., AllScripts Healthcare Solutions, Inc., Koninklijke Philips N.V., Cognizant Technology Solutions Corporation, Casenet, LLC, Cedar Gate Technologies, Clinical Excellence, Inc., and Altruista Health,
By Type
By End User
By Disease Type
By Geography
The Chronic Disease Management Market size is projected to reach USD 9.9 billion by 2028.
Rising Cases Of Various Chronic Diseases are driving the market in coming years, however, Lack Of Proper Communication In Chronic Care Management restraints the growth of the market.
Infosys Limited, ExlService Holdings, Inc., Health Catalyst, Inc., AllScripts Healthcare Solutions, Inc., Koninklijke Philips N.V., Cognizant Technology Solutions Corporation, Casenet, LLC, Cedar Gate Technologies, Clinical Excellence, Inc., and Altruista Health.
The expected CAGR of the Chronic Disease Management Market is 11.7% from 2022 to 2028.
The Healthcare Providers segment acquired maximum revenue share in the Global Chronic Disease Management Market by End User in 2021 thereby, achieving a market value of $5.2 billion by 2028.
The North America market dominated the Global Chronic Disease Management Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.65 billion by 2028.
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