Chronic Diseases Management Market Analysis, Revenue Share, Company Profiles, Forecast Till 2027
Research Reports
May 04, 2022
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According to the latest report, the chronic disease management market size is witnessed at US$ 2.7 billion in 2020 and is expected to grow at a CAGR of 18% with the market size of US$ 8.7 billion during the forecast period.
Chronic diseases are ailments that can last for a long time and usually progress slowly. Heart disease, diabetes, chronic renal disease, asthma and chronic obstructive pulmonary disease (COPD), depression, and arthritis are just a few of the disorders that fall into this category. Chronic diseases management market growth is predicted to be fueled by increasing levels of digitalization integration in healthcare systems and facilities and an increase in the geriatric population. As per a Market Research Future report, the chronic disease management market is estimated to display a CAGR of 14.5% in the forecast period.
Patients’ non-compliance and lack of adherence are projected to limit the chronic disease management market’s growth. At the same time, a paucity of technically skilled specialists and manpower required for the treatment of various illnesses could be a roadblock to the industry’s progress.
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Chronic disease management is a collection of measures aimed primarily at providing high-quality healthcare and enhancing patients’ health. A variety of options are available in managing chronic diseases, including guidelines for chronic disease self-management, interdisciplinary treatment, and lifestyle counseling to increase awareness about various diseases.
Segmental Examination
The segmental overview of the chronic disease management market is carried out on the basis of solution, delivery mode, end-user, application, and region. By solution, the chronic disease management market consists of educational solutions, implementation solutions, and consulting solutions. By application, the chronic disease management market consists of arthritis, cardiovascular disease, cancer, and diabetes. By end-user, the chronic disease management market consists of payers and providers. The chronic disease management market consists of Asia-Pacific, Americas, Europe, Middle East & Africa by region. By delivery mode, the chronic disease management market consists of on-premises, cloud-based, and web-based.
Regional Breakdown
The Americas are predicted to lead the global chronic illness management market due to rising chronic disease incidence, higher R&D investment by pharma and biotech enterprises, and increased healthcare spending. Europe accounted for the second-largest chronic disease management market, owing to increased healthcare expenses and an aging population. In addition, rising healthcare spending is fueling the market growth. The Asia-Pacific region was predicted to be the fastest-growing region for chronic renal disease management enterprises. Because of the growing population and need for technologically advanced therapies, the market is expected to grow.
Competitive Analysis
Koninklijke Philips NV (Netherlands), Pegasystems Inc. (US), MINES & Associates, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), TriZetto Corporation (US), Infosys Limited (India), EXL Healthcare (New York), Harmony Information Systems, Inc.(US), Siemens Healthcare Private Limited (Germany), and ScienceSoft USA Corporation (US) are some of the notable companies in the chronic illness management market.
The influence of collaborations and partnerships is estimated to shape the development of the chronic disease management market in the forecast period. In support of efforts to treat chronic diseases, Huawei has announced digital innovation cooperation with Qatar Computing Research Institute (QCRI) at Hamad Bin Khalifa University. QCRI will collect data using Huawei’s smart technologies for usage on its SIHA health-based computing platform (System for Integrated Health Analytics).
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