Sarasota, FL -- (SBWire) -- 04/08/2019 --According to the report, the global chronic disease management market was valued at approximately USD 3.92 billion in 2018 and is expected to generate around USD 10.3 billion by 2024, at a CAGR of around 17.5% between 2019 and 2024.
Chronic disease management comprises a defined set of interventions mainly aimed at providing high-quality healthcare and a better quality of life to patients. Chronic disease management services include a variety of services, such as multidisciplinary care, guidelines for the self-management of the chronic disease condition, and guidance for healthy behavioral change, to increase awareness about various diseases. Chronic care management is used for dealing with a wide variety of diseases, such as depression, cardiovascular disorders, obesity, neurological disorders, etc.
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The growing invasion of chronic diseases along with the increasing awareness about the consequences of life-threatening diseases is estimated to drive the global chronic disease management market growth in the future. Chronic diseases, such as cardiovascular disorder, cancer, and neurological disorder, are creating the demand for solutions that can deliver the services to improve patient health at a relatively lower and affordable cost. About 17.5 million people died from cardiovascular disorders in 2015, i.e., 31% of all the global deaths. Additionally, the global burden of chronic disease is increasing, owing to the increasing geriatric population globally.
The adoption of digital technologies and trending IT healthcare services are further anticipated to fuel the chronic disease management market growth globally in the future. However, the non-compliance and lack of adherence among the patients may hamper the global chronic disease service market expansion in the years ahead.
The global chronic disease management market is segmented based on disease type, delivery mode, service, and end-user. By disease type, the chronic disease management market is divided into arthritis, cardiovascular disease, cancer, and diabetes. Cardiovascular diseases held the largest market share in 2017.
By delivery mode, the chronic disease management market is categorized into cloud-based and on-premises. The cloud-based segment is likely to register the highest CAGR owing to its flexibility, affordability, and scalability.
By service, the chronic disease management market is segmented into educational services, implementation service, consulting service, and others. The implementation services are estimated to hold the largest market share in the future, owing to the growing focus on offering cost-effective and efficient solutions.
The end-user segment of the chronic disease management market includes providers, payers, and others. Providers are further segmented into ambulatory care centers, hospitals, physician groups, and integrated delivery networks, diagnostic and imaging centers, home healthcare agencies, nursing homes, and assisted living facilities, and others. The payers segment is further divided into public payers and private payers.
By region, North America is anticipated to dominate the chronic disease management market globally over the forecast time period. This can be attributed to the favorable government policies supporting the introduction of new and advanced services, substantial developments witnessed in the healthcare infrastructure, and funds for research granted by the government and ruling authorities. Asia Pacific region is anticipated to demonstrate the fastest growth rate over the forecast timeframe, owing to the region's thriving healthcare industry due to a large population base, especially in India, China, and Japan.
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Some key players of the global chronic disease management market are TriZetto Corporation, Infosys Limited, Pegasystems Inc., Siemens Healthcare Private Limited, MINES & Associates, Inc., Allscripts Healthcare Solutions, Inc., HealthSmart Holdings, Inc., Wellcentive, Inc., EXL Healthcare, Phytel Inc., Harmony Information Systems, Inc., and ScienceSoft USA Corporation.
This report segments the global chronic disease management market into:
Global Chronic Disease Management Market: By Disease Type
Arthritis
Cardiovascular Disease
Cancer
Diabetes
Others
Global Chronic Disease Management Market: By Delivery Mode
Cloud-Based
On-Premises
Global Chronic Disease Management Market: By Service
Educational Implementation Service
Implementation Service
Consulting Service
Others
Global Chronic Disease Management Market: By End-User
Providers
Ambulatory Care Centers
Hospitals, Physician Groups, and Integrated Delivery Networks
Diagnostic and Imaging Centers
Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
Others
Payers
Public Payers
Private Payers
Others
Global Chronic Disease Management Market: By Region
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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Chronic Disease Management Market to Generate Around USD 10.3 Billion by 2024
Global chronic disease management market expected to generate around USD 10.3 billion by 2024, at a CAGR of around 17.5% between 2019 and 2024. The growing invasion of chronic diseases along with the increasing awareness about the consequences of life-threatening diseases is estimated to drive the global chronic disease management market growth in the future.