The chronic disease management market is expected to increase significantly and reach a value of US$16.83 billion by 2033. This huge rise from its projected value of US$4.77 billion in 2023 is a strong 13.4% compound annual growth rate (CAGR).. This growth is attributed to several key factors:
- Increased Awareness: People are becoming more conscious of the long-term consequences of chronic illnesses. This deeper comprehension increases the need for efficient management techniques.
- Supportive Insurance Policies: Access to chronic illness management is being facilitated by favorable health insurance policies, which is driving market expansion even further. In contrast to the historical compound annual growth rate (CAGR) of 10.0% from 2018 to 2022, the expected growth indicates a notable acceleration.
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Patient Empowerment via Instruction and Counseling:
Patients are empowered by chronic disease management when they are provided with information and tools. Patients are guided in choosing suitable doctors and treatments, and they are made aware of reputable treatment choices. This method encourages individuals to take an active role in their own healthcare process.
Holistic Care in Long-Term Settings: Going Beyond Diagnosis:
The management of chronic illnesses goes beyond early detection and intervention. In this market, long-term care and rehabilitation facilities are essential because they give patients continuous support and raise their standard of living overall.
Managing Compensation: Enhancing Treatment Cost-Effectiveness:
Providers of chronic illness management are essential in helping patients understand the intricacies of medical reimbursement. To guarantee that patients may access reasonably priced treatment alternatives and make claims for their entitlement benefits, this also includes instructions on Medicare and Medicaid.
Competitive Landscape
In order to deliver patient-centric care, leading service providers in this market are concentrating on teamwork and partnerships with healthcare stakeholders. This is leading to the emergence of new trends in the chronic illness management industry For example:
- In November 2021, IBM launched Imaging AI orchestration to help imaging organizations experience the benefits of AI applications working seamlessly together.
- HealthSmart Holdings, Inc. has offered fully integrated and highly comprehensive care management solutions and services. These solutions manage members with chronic diseases to avoid future health risks.
- Allscripts Healthcare Solutions, Inc., has its Villa Medical Center which is a patient-centered primary care home, reaching out to patients with chronic illnesses.
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Key Players Profiled in the Market:
- TriZetto Corporation
- IBM
- Pegasystems Inc.
- EXL Healthcare
- AxisPoint Health
- Wellcentive, Inc.
- Medecision, Inc.
- i2i Systems, Inc.
- HealthSmart Holdings, Inc.
- Allscripts Healthcare Solutions, Inc.
- ZeOmega Inc.
- Epic Corporation Inc.
- Harmony Information Systems, Inc.
Key Segments Covered:
Chronic Disease Management Market by Service Type:
- Consulting Services
- Implementation Services
- Educational Services
- Other
By Delivery Mode:
- On-premise
- Web-based
- Cloud-based
By End User:
- Providers
- Payers
Key Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
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