The care management solutions market is expected to witness rapid growth due to the growing geriatric population and the burden of chronic diseases. With the implementation of initiatives to shift the burden of risk from healthcare payers to providers, care management solutions offer a means to reduce healthcare costs and government initiatives to promote patient-centric care.
The market is expected to witness growth, owing to the care management centralized approach and integrated care for patients, which further improves quality of life by inhibiting complications with early intervention of care. This results in a decline in healthcare costs and lowers the burden on healthcare payers and providers. Hence, these factors are expected to propel the growth of the care management solutions market, globally.
Key Market Trends
Disease Management is Anticipated to Witness High Growth during the Forecast Period
The high growth of the disease management solutions segment is attributed to the ability of these solutions to reduce the cost of care with the help of protocol management and prevent ill health through comprehensive health management. Individuals with chronic disease conditions are accounted for the majority of the healthcare expenditure, and thus, disease management reduces the inpatient and outpatient costs.
In addition, with the rising chronic disease prevalence and increasing awareness, the chronic care management segment is also likely to experience strong growth during the forecast period.
North America Region Holds the Largest Market Share
North America holds the largest market share and is expected to retain its dominance during the forecast period, due to the advancements in IT solutions and an increase in demand for affordable and scalable solutions to curb healthcare costs. Asia-Pacific is also expected to record a high growth rate in the care management solutions market, in the next few years, due to rising government initiatives and the increasing aging population.
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.
In May 2018, Allscripts announced the completion of its acquisition of HealthGrid Holding Company, a developer of enterprise patient engagement solutions. The acquisition signifies the expansion of the Allscripts FollowMyHealth platform, which provides patient engagement solutions focused on connecting patients with providers.
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