Published Date : 18 Oct 2022
The global care management solutions market size is expected to be worth around USD 35.44 billion by 2030, according to a new report by precedence research, and is poised to record a yearly growth rate of 11.4% from 2022 to 2030.
The global care management solutions market size was estimated at USD 14.92 billion in 2022. The global care management solutions market growth is attributed to the rising prevalence of chronic disorders. The market growth is also being driven by growing incidence of chronic disorders among the elderly population. This results into the demand for high quality care for the elderly. In addition, the growing geriatric population is emphasizing the importance of care management solutions in the global market.
Furthermore, the investments made by government of developed and developing regions for the expansion of healthcare sector is providing lucrative opportunities for the growth and development of worldwide care management solutions market. Moreover, the market players are implementing new and latest technologies such as big data analytics, internet of things, and artificial intelligence. These technologies are supporting the growth of global care management solutions market. In addition, the growing research and development initiatives is paving way for the expansion of global care management solutions market over the projected period.
What is the Regional Outlook of the Care Management Solutions Market?
North America is the largest segment for care management solutions market in terms of region. The U.S. is dominating the care management solutions market in the North America region. The factors such as growing awareness regarding patient care solutions, technological developments, and rising adoption of advanced technologies are driving the growth of North America care management solutions market.
Asia-Pacific region is the fastest growing region in the care management solutions market. India, Japan, Singapore, and China hold the highest market share in the Asia-Pacific care management solutions market. The growth of care management solutions market in Asia-Pacific region is attributed to the growing fundings and collaborations by market players. SingHealth, a Singapore based healthcare organization, cooperated with Allscripts in May 2018 to integrate the iPro Anesthesia platform throughout SingHealth’s institutions.
Report Scope of Care Management Solutions Market
|Market Size in 2021||USD 13.43 Billion|
|Market Size by 2030||USD 35.44 Billion|
|Growth Rate from 2022 to 2030||
CAGR of 11.4%
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2022 to 2030|
|Segments Covered||Component, Mode of Delivery, End User, Application, Geography|
Drivers: Surge in demand from emerging nations
The technological advancements in emerging countries such as China, India, and the U.S. is driving the growth of global care management solutions market. In July 2015, the Indian government launched the Digital India campaign, which aims to improve information technology infrastructure and internet connectivity in the nation so that citizens may access government services electronically. Such initiatives are driving the demand for care management solutions all around the world.
Restraints: Concerns regarding data breaches
The data in care management solutions platform is easily accessible by anyone. This can happen due to lack of internal control and inadequate policies and regulations. The confidentiality of information and data is very essential. Thus, concerns regarding data breaches is restricting the growth of global care management solutions market.
Opportunities: Growing government initiatives
In order to develop the market for care management solutions, the government all over the world is taking constant efforts. The government is heavily investing for the improvement of healthcare infrastructure. Moreover, the government of developed nations are collaborating with market players. As a result, growing government initiatives is creating lucrative opportunities for the growth of care management solutions market.
Challenges: Lack of skilled labors
The care management solutions require a robust information technology support within the company and at the solution provider’s end to be used effectively. In addition, the professionals require adequate knowledge related to technology. Thus, lack of skilled labors is the major challenge for the care management solutions market expansion.
By Mode of Delivery
By End User
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