According to a recent report, “Care Management Solutions Market Size, Share & Trends Analysis Report By Mode Of Delivery (Web, Cloud, On Premise), By Component (Software, Services), By End Use (Healthcare Providers & Payers), And Segment Forecasts, 2018 – 2025”, the rise in healthcare expenses and increase in demand for efficient healthcare service is anticipated to remain pivotal for market development in the coming years.
Growing adoption of technologically advanced solutions to reduce paperwork, and duplication of testing, as well as improve safety and health are key factors fueling market growth. Rise in incidence of chronic diseases and growth in geriatric population are also factors likely to drive the market during the forecast period. Care management solutions are likely to witness rapid growth in the coming years due to availability of funding and higher incidence of collaborations, mergers, and acquisitions.
Many healthcare organizations prefer risk-based arrangements, wherein they are accountable to provide healthcare specific to the patient cohort. Some organizations with extensive experience in providing care management use commercial tools, which are not useful when scaling up. Advancements in IT infrastructures and big data capabilities are also responsible for market growth. The capabilities are utilized to integrate claims-based and EMR-based data sources at member/patient level. This information enhances deep analytics used for clinical decision support, care management program placement, and planning.
Care Management Solutions Market Report Highlights:
Rise in incidence of chronic diseases, along with improved focus on healthcare quality services and development of innovative treatments and technologies, is expected to propel the market
By component, software accounted for the largest share in the past few years. These solutions help provide coordinated and efficient care and aids providers in diagnosing patients effectively and reduce medical errors during surgery or clinical research.
On the basis of mode of delivery, cloud-based solutions are anticipated to exhibit the fastest growth over the forecast period. This is due to growing adoption of EHR by care providers to improve security, accessibility, and storage capability. Implementation of cloud-based solutions also leads to massive cost savings by providing healthcare through mobile devices and video conferencing
North America held the largest market share and is expected to retain its dominance over the forecast period due to advancements in IT solutions and increase in demand for affordable and scalable solutions in order to curb healthcare costs
Europe is likely to witness significant growth over the next decade due to adoption of advanced health informatics to make healthcare more patient-centric. Various government initiatives and ehealth investments are also expected to propel the regional market
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List of Key Players in Care Management Solutions Market:
Epic Systems Corporation
Koninklijke Philips N.V.
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