Care Management Solutions Market Size, Regional Outlook, Competitive Landscape, Revenue Analysis & Forecast Till 2027
Research Reports
Apr 12, 2022
Market Research Future (MRFR) anticipates the care management solutions market could achieve a substantial CAGR during the evaluation period (between 2020 and 2027).
Major Boosters and Impediments
Several IT solutions are increasingly being designed to assist the healthcare organizations to deal with the series of challenges arising from the burgeoning patient pool as well as the resultant medical data. Care management solutions help companies elevate their efficiency in carrying out businesses by focusing on day-to-day operations including case management, utilization management, EMR management, and disease management.
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Surge of the stringent regulatory landscape within the healthcare sector adds considerable value to the worldwide market. Increase in the number of patients affected by a host of chronic diseases fosters the adoption of care management solutions as well. The mushrooming elderly populace worldwide further elevates the market position, given that advancing age gives way to a number of disorders, in turn raising the demand for care management solutions.
Most of the companies are deploying cloud-based care management solutions, as these facilitate smoother data sharing. These systems allow people in remote areas to easily access information, which has raised their commercial availability in the global market. Additionally, surging focus on data protection coupled with the emergence of supportive laws is likely to favor the global industry in subsequent years.
Market Segmentation
The extensive report on the care management solutions industry outlines a few major segments, to give a better understanding of the growth prospects. Some of them are component, application, delivery method, along with end user.
The top components highlighted in the study are services as well as software.
Key applications of care management solutions are case management, diseases management, EMR management, utilization management, and more.
With respect to delivery method, the global industry caters to cloud, on-premise, and web.
Major end-users in the industry are providers, payers, and more.
Regional Study
As the strongest market for care management solutions, North America makes huge profits on the back of world-renowned companies that compete fiercely to gain the upper hand in the region. Thanks to the mounting cases of chronic ailments, healthcare firms are facing numerous challenges to handle the surge in operations and workflow, leading to higher adoption of automated solutions such as care management systems. The region houses an advanced healthcare infrastructure, known for adopting some of the most cutting-edge technologies supported by large-scale budgets. These factors could further substantiate North America’s position in the worldwide market over the years ahead.
Europe is positioned second in the global market, as a result of the strong support given by the regulatory authorities. A number of care management solution companies in the region are actively involved in building collaborations, joint ventures and partnerships with the top healthcare organizations, which not only strengthens their positions but bolster the industry growth as well. The fast-paced growth in the number of chronic disorders has also been bolstering the need for effective and advanced care management solutions in the region.
Asia Pacific will cover major grounds at the fastest pace in the ensuing years, emerging as a promising consumer of care management solutions. Many of the established vendors in the region are making competitive moves like partnerships and agreements to remain relevant in the market. Meanwhile, government bodies are granting support to digital healthcare firms, which fosters the adoption rate in the region. On top of that, the accelerated growth of the healthcare IoT segment across emerging countries like China and India will create attractive prospects for the care management system industry in subsequent years.
Renowned Vendors
Medecision, AthenaHealth, HealthSmart Holding, Cerner Corporation, Casenet LLC, Allscripts Healthcare Solutions, Cognizant Technology Solutions, EXL Healthcare, Koninklijke Philips N.V., Epic Systems Corporation are the top care management solution developers in the global industry.
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