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The chronic disease management market size is forecasted to increase by USD 4.61 billion, at a CAGR of 11.09% between 2022 and 2027. Market growth relies on various factors, including the safety and convenience offered by advanced vehicle access solutions, the increasing integration of automotive electronics, and the expanding market presence of mid and luxury-segment vehicles equipped with convenient features. These factors collectively drive demand for advanced vehicle access solutions, as consumers prioritize enhanced security and ease of use in their vehicles. With a growing emphasis on technology and convenience in the automotive industry, the market for advanced vehicle access solutions is poised for steady expansion, catering to the evolving needs and preferences of modern vehicle owners.
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The market is rapidly evolving with advancements in medical services and the proliferation of telehealth industry solutions like mobile app. These technologies empower patients and their caregiver to actively participate in managing chronic conditions through regular check ups and Coordinating treatment plans offered by clinic. From addressing chronic respiratory disease to combating the harmful use of alcohol, these solutions play a crucial role in improving patient outcomes and quality of life. As the healthcare landscape continues to embrace digital innovations, the chronic disease management market is poised for further growth and innovation.
The market share by the solutions segment will be significant during the forecast period. Factors such as the increase in awareness about the use of cloud-based and on-premises solutions in healthcare will drive the growth of the market.
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The solutions segment was valued at USD 3.08 billion in 2017. The demand for shorter hospital stays has increased, which lowers the cost incurred in hospitalization. This has increased the demand for such solutions. An increase in R&D spending to produce highly advanced treatment options and the rise in medical tourism across developing regions are creating opportunities for firms providing solutions. The growing involvement of government bodies across various countries is also expected to drive the growth of the solutions segment of the market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US is the major revenue contributor to the market growth in North America. Increasing awareness, expanding mobile coverage, and rising chronic diseases are propelling the growth of the market in the region. Hospitals in the US adopt advanced technologies such as smart pills, smart cabinets, and mHealth services. The adoption of such devices is increasing due to the high purchasing power of consumers. The geriatric population in North America is more prone to mental and chronic disorders and cannot visit hospitals frequently. Thus, the use of remote patient monitoring and home monitoring through wearable devices has increased significantly in the region. The adoption of EHR and electronic medical record (EMR) apps is also driving the growth of the market in the region.
The market is witnessing significant growth driven by the increasing prevalence of conditions like Chronic Obstructive Pulmonary Disease (COPD), hypertension, and asthma. As the healthcare industry embraces digital technologies, innovative solutions are emerging to improve healthcare services and enhance the quality of life for patients. Telehealth services and mobile apps facilitate remote monitoring and consultations, allowing healthcare professionals to deliver timely interventions. Moreover, clinics and caregivers are leveraging these advancements to streamline therapies, conduct screenings, and coordinate treatment plans for chronic conditions like stroke and respiratory diseases. Efforts to address lifestyle factors such as tobacco use, physical inactivity, and unhealthy diet are also integral to holistic chronic disease management strategies. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of chronic diseases is notably driving market growth. The prevalence of infectious and chronic diseases such as cancer and diabetes is increasing across the world. According to the WHO, as of 2020, cancer is a leading cause of death worldwide. Factors such as unhealthy dietary habits, a sedentary lifestyle, high consumption of tobacco and alcohol, and obesity will further increase the prevalence of such diseases.
Additionally, the rising incidence of diseases such as diabetes and cancer is increasing the need for chronic disease management solutions and services. For instance, according to the National Center for Biotechnology Information (NCBI), chronic diseases account for around 43% of the global disease burden and 60% of deaths across the world. According to the World Health Organization (WHO), people of all age groups, regions, and countries are affected by non-communicable diseases (NCDs). These factors are expected to contribute to the growth of the market during the forecast period.
Technological advancement in the market is a key trend. Players operating in the market are adopting advanced technologies such as AI to treat chronic diseases. Medical personnel can use AI for early intervention and improved outcomes for patients with diabetes, heart disease, and cancer. For instance, in February 2022, Biofourmis introduced Bioformis Care, a service that provides high-quality remote care to patients with chronic diseases.
For instance, in March 2022, Phablecare, a company in India, acquired Fused Training for an undisclosed amount. Phablecare will expand and strengthen its Type 1 diabetes vertical with this acquisition. Therefore, technological advancements will positively impact the growth of the market during the forecast period.
Rising medical data privacy concerns are challenging market growth. Advanced technologies are used for storing, processing, analyzing, and interpreting medical documents. However, the use of such technologies leads to data privacy concerns. According to the privacy laws of various countries, personal data, medical records, and medication information of any person should not be disclosed without authorization and permission.
Similarly, according to the Data Protection Act (DPA) of France, any personal information gathered or collected should be authorized. In the US, HIPAA is associated with health-related data privacy. However, data privacy concerns occur despite these privacy acts, owing to the increasing use of advanced technologies and outsourcing of medical document processing. Thus, rising medical data privacy concerns will negatively impact the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - The company offers Chronic Care Management Program features services to assist care providers in reducing the complexity of caring for chronic patients, including the creation of a care plan, medication reconciliation, scheduling of preventive care services, and patient outreach.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is witnessing rapid growth due to the increasing prevalence of conditions such as cardiovascular diseases, COPD (Chronic Obstructive Pulmonary Disease), and musculoskeletal disorders. Advanced software systems are being developed to streamline care delivery and enable remote monitoring through patient's devices like smartphones and tablets. Integration with Electronic Health Records (EHR) facilitates seamless diagnosis and management of conditions like hyperglycemia, hyperlipidemia, and elevated blood pressure by leveraging biomarkers and personalized treatment plans. Consulting services cater to various healthcare settings including ambulatory care centers, diagnostic and imaging centers, home healthcare agencies, and nursing homes to ensure comprehensive and effective chronic disease management.
Further, the market addresses a wide spectrum of conditions including arthritis and cardiovascular disease. As part of the healthcare industry, specialized consulting services are offered by healthcare professionals to optimize healthcare services and medical services delivery. Leveraging digital technologies, the telehealth industry plays a pivotal role in providing remote telehealth services for managing chronic diseases like cardiovascular diseases. These services enhance access to care, improve patient outcomes, and promote proactive management strategies, thereby contributing to the overall well-being of individuals affected by chronic conditions.
Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.09% |
Market growth 2023-2027 |
USD 4.61 Billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.67 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, UK, Germany, Japan, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Cedar Gate Technologies, cliexa Inc., Cognizant Technology Solutions Corp., Epic Systems Corp., ExlService Holdings Inc., Health Care Service Corp., Health Catalyst Inc., HealthEdge Software Inc., Hinduja Global Solutions Ltd., Infosys Ltd., Koninklijke Philips NV, MINES and Associates Inc., NextGen Healthcare Inc., Pegasystems Inc., ScienceSoft USA Corp., Vivify Health Inc., WellSky Corp., ZeOmega Inc., and Zyter Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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