Care Management solutions market Outlook - 2030

Care management is the range of activities intended to improve patient care and reduce the need for medical services by helping patients and caregivers more effectively manage health conditions. Many healthcare organizations are just entering risk-based contracts, where they will be held accountable for providing care to specific populations of patients while practicing good care management. Other organizations have extensive experience providing care management, but they use home-grown or commercial tools that cannot scale with growth. And yet other organizations, operating in the fee-for-service (FFS) environment, barely break even on their existing care management efforts and they want better performance. The needed is an analytics-driven care management system that addresses these issues by streamlining workflows, prioritizing daily tasks for care team members in a predictive way, and steering activity to the areas that will positively impact the most patient lives in the most efficient way.

Market scope and structural analysis:

Covid-19 Scenario analysis:

The global outbreak of COVID-19 leads to an ongoing downturn of the healthcare market. Apart from communities, COVID-19 was equally disastrous for major world economies, especially the healthcare sector. Prominent stakeholders are continuing to adapt their strategies to the rapidly changing situation. COVID-19 is projected to have significant long-term impacts on the healthcare industry. Countries and major players would have to undertake critical healthcare changes until the crisis takes a back seat.

 Technological progress, cost containment, and increased access are projected to be an integral part of healthcare reforms in the near future. Digital health and telehealth have taken a front seat in the ongoing outbreak. COVID-19 re-emphasized the importance of remote diagnosis, care, and consultation. Over the past few years, regulatory and behavioral barriers have slowed Telehealth growth. However, since many healthcare providers are currently working on video conferencing and telephone calls, the segment is anticipated to experience growth over the next two years. The social distancing measures also mandated online consultation of patients with moderate symptoms. In addition, it greatly reduced the burden on hospitals already swamped by counts of COVID-19 patients. Medical IoT devices that live at home with patients are now being used for optimizing outpatient treatment and minimizing repeat visits, and these devices can be further used in a crisis situation. The pandemic led to severe resource constraints. This is expected to result in the development of competitive pricing and value-based pricing models, which boosts the growth of the care management solutions market

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact analysis:

Care management solutions offer holistic care management software to provide better quality of care, make better decisions and to achieve best possible health. These solutions are patient-centric and aid in better population health & medical management. The care management solutions aid in easy data access for the physicians at distant locations and provide with information on coordination & care, collaborative care planning, disease & utilization management. The care management solutions allow to identify and monitor the high-risk populations. Moreover, these solutions helping in determining the appropriate levels of care and managing interventions.

The growth of the care management solutions market can be attributed to the growing geriatric population, increasing incidences of chronic diseases, and rising usage of patient-centric solutions by the healthcare providers. Moreover, improving advancements in IT solutions and big data capabilities add novel opportunities for the global care management solutions market over the forecast period.

Drivers:

Technological advancements:

The growing use of big data and its significant impact has undeniably pushed the healthcare sector toward patient-centric care. The presence of an ever-growing aging population and increased occurrence of chronic diseases have increased the need for care management solutions. These solutions provide the most effective workflow methods which result in lucrative opportunities for market players in the chronic disease market. Advancements in IT technology and increasing use of healthcare IT for the efficient management of large volumes of data are expected to lead to market opportunity. Moreover, care management solutions have the ability to integrate claims-based data sources and EHR -bases data at a patient level, thus allowing the use of analytics which is then used for support in clinical decision making.

Increase in number of chronic disease in geriatric population:

Increasing prevalence of chronic diseases during old age is driving the growth of the global care management solutions market due to increasing demand for quality of care for the old population. The prevalence of chronic diseases, such as heart disease, cancer, stroke and respiratory disease, are increasing due to the alteration in lifestyle and lack of access to preventive care.

Restrains:

Increasing adoption of care management, rise in government expenditure in healthcare sector, increasing demand for quality of care and growing aging population are driving the market for care management solutions. In addition, increasing awareness among people for better healthcare is driving the market for care management solutions. However, lack of skilled professionals and huge investment are some of the major factors that are restraining the growth for global care management solutions market.

Regional analysis and market analysis:

North America, followed by Europe, has the largest market for care management solutions due to developed healthcare infrastructure, rise in consumer spending in healthcare sector, legislative reforms and increasing incidence of chronic diseases in the region. Asia is expected to show high growth rate in the care management solutions market in next few years due to government initiatives, increasing aging population and rise in need for quality care at affordable cost in the region.

The increasing patient-centric approach, growing number of mergers and acquisitions, and the rise in the number of collaborations and partnerships are some of the latest trends that have been observed in the overall growth of the care management solutions market.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global care management solution industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global care management solutions market share.
• The current market is quantitatively analyzed from 2021 to 2030 to highlight the global care management solutions market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global care management solution market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Care management solution Market research report:

• What are the leading market players active in the care management solution market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?