Chronic Disease Management Market Overview
Global Chronic Disease Management Market is expected to grow at a CAGR of 17.5% over the forecast period from 2017 to 2023, according to a new research report from Market Research Future (MRFR). The global chronic disease management market is mainly driven by the growing prevalence of chronic diseases and the increasing realization of the need for specialized, dedicated chronic disease management solutions.
Chronic disease management includes monitoring a patient with chronic diseases and bringing all aspects of their lifestyle in line with the desired effect of the medication. Such facilities are usually established by hospitals looking to expand into more dedicated care for chronic diseases. The growing prevalence of chronic diseases around the world has been the major driver for the global chronic disease management market in recent years. Chronic diseases such as cancer and diabetes are rising in prevalence continuously, leading to a need for dedicated facilities. Close to 1.7 million new cases of cancer were registered in the U.S. in 2016, whereas diabetes is estimated to have claimed more than 420 million adult patients around the world. The growing prevalence of these diseases is likely to drive the global chronic disease management market over the forecast period.
Several chronic diseases require patients to adhere to a certain lifestyle for easy and quick recovery. Adhering to this lifestyle can be difficult in one’s own home, as one may forget certain aspects. Such conditions are avoided in chronic disease management, as a physician keeps track of the lifestyles of the patients, allowing them to keep up with the required activities and prohibitions through the rehabilitation period.
On the other hand, the high prices of chronic disease management could emerge as a blow to the global chronic disease management market’s prospects over the forecast period. However, the increasing government support for chronic disease management centers has the potential to overcome this barrier in the coming years.
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Chronic Disease Management Market Competitive Analysis:
Leading players in the global chronic disease management market include TriZetto Corporation, Pegasystems Inc., Wellcentive Inc., i2i Systems Inc., Allscripts Healthcare Solutions Inc., Epic Corporation Inc., Infosys Limited, Harmony Information Systems Inc., ZeOmega Inc., HealthSmart Holdings Inc., Medecision Inc., AxisPoint Health, and Phytel Inc.
Chronic Disease Management Industry Update/News
In April 2019, University Hospitals Geauga launched a new chronic disease management clinic. Such moves are aimed primarily at the geriatric demographic, which may find it difficult to remember particular aspects of the lifestyle to be followed.
Chronic Disease Management Market Segmentation:
The global chronic disease management market is segmented on the basis of service types, application, deployment, end user, and region.
On the basis of the service type, the chronic disease management market is segmented into consulting services, implementation services, educational services, and others.
On the basis of the application, the chronic disease management market is segmented into asthma, cancer, cardiovascular, diabetes, stroke, and others.
On the basis of deployment, the market is segmented into on-premise, web-based, and cloud-based.
On the basis of end user, the market is segmented into provider and payer.
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Chronic Disease Management Market Regional Analysis:
North America, followed by Europe, is the leading regional market for chronic disease management and is likely to retain the position over the forecast period. The high level of technological innovation in North America and the increasing government expenditure on healthcare have allowed for the development of a number of effective chronic disease management facilities. The widespread prevalence of a number of chronic diseases in North America is also a major driver for the chronic disease management market in the region. Diseases such as cancer and diabetes are widely prevalent in North America, helped along by unhealthy lifestyle factors such as excessive smoking and excessive sugar consumption.
Asia Pacific is the fastest growing regional market for chronic disease management. Due to the relatively advanced and specialized nature of chronic disease management, only a small number of facilities have been established in Asia Pacific so far, with Japan taking up the lion’s share in the region’s chronic disease management market.