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HEALTHCARE & PHARMACEUTICAL

Chronic Disease Management Market Analysis by Type (Solutions, and Services); by Deployment Mode (On-Premise, Web-Based, and Cloud-Based); by Disease Type (Cancer, Diabetes, Cardiovascular Diseases, Arthritis, Asthma, Chronic Obstructive Pulmonary Disorders (COPD), Stroke, and Others); by Service Type (Consulting Service, Implementation Service, Educational Services, and Others); and by End-User (Providers, Payers, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

 

  • ·The latest Philips Capsule Surveillance Solution has received 510 (k) market clearance from the U.S. Food and Drug Administration (FDA) and can now be put for widespread deployment in the USA.

  •  Latest version of the GuidingCare platform has been released by Altruista Health which includes innovations and enhancements for improving health outcomes and also making it cost-effective.

 

Global Chronic Disease Management Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Base Year

2022

Forecast Year

2023-2035

CAGR

~13%

Base Year Market Size (2022)

~ USD 6.3 Billion

Forecast Year Market Size (2035)

~ USD 27.6 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global chronic disease management market is estimated to garner a revenue of ~USD 27.6 Billion by the end of 2035 by growing at a CAGR of ~13% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 6.3 Billion in the year 2023. The growth of the market is primarily attributed to the worldwide growing prevalence of various types of chronic diseases that is increasing death rate and long-term intensive care, increasing use of tobacco, physical inactivity, unhealthy diet, and sedentary lifestyle. For instance, by the end of 2020, the prevalence of chronic diseases was increased approximately 59% across the globe.

Chronic-Disease-Management-Market-overview.Get more information on this report:Download Sample PDF

Chronic disease management is a type of digital healthcare that helps healthcare providers to offer educational resources to their patients. Therefore, the swift digital transformation of healthcare is fueling the growth of the market. For instance, in 2022, 44 million patients in the United States are anticipated to use remote monitoring technologies, which denotes a 16% upsurge from 2021. Additionally, the worldwide rising awareness of people on life-threatening diseases and increasing healthcare expenditure is estimated to boost market growth.

Global Chronic Disease Management Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Geriatric Population with Decreased Immunity - Despite weak immune systems aging brings several other health issues that require intensive care and health monitoring of old people. So an increase in the geriatric population is fuelling the demand for chronic disease management. According to the data provided by the World Health Organization (WHO), the population of people aged 60 and up has increased from 1 billion in 2020 to 1.4 billion.

  • Growing Use of Big Data in Healthcare to Patient Healthcare - Big data in healthcare is overpowering not only as a result of its quantity but also owing to its diverse array (clinical and financial). Understanding the trends and patterns in data allows healthcare systems to improve patient care while lowering healthcare costs. For instance, the volume of healthcare data increased to around 2,320 exabytes in 2020.

  • Worldwide Upsurge in Chronic Obstructive Pulmonary Disease (COPD) Across the World - Chronic obstructive pulmonary disease (COPD) is a long-term disease that occurs when the lungs and air route become damaged. The upsurge in COPD is also leading to increasing demand for chronic disease management. As per the data provided by the World Health Organization, globally, 3.23 million people died from chronic obstructive pulmonary disease (COPD) in 2019.

  • Rise in Musculoskeletal Diseases Owing Increasing Disability Cases - Musculoskeletal ailments are the main cause of disability worldwide. For instance, worldwide, 1.71 billion people have been suffering from musculoskeletal conditions.

  • Increasing Per Capita Income Of People Among the Low-Income Countries - Based on data provided by the World Bank, worldwide annual per capita income increased by 4.8% in 2021 compared to 1.5% in 2019.

Challenges

  • Lack of Trained Workforce with Cross-Functional Skills

  • High-Cost Associated with Chronic Diseases Treatment

Chronic diseases are long-term illnesses that need treatment for a lifetime in many cases such as diabetes. The medications and therapy procedures for chronic diseases are very expensive such as chemotherapy in the case of cancer. HIV and AIDS also include in this category hampering the growth of the market.

  • High Initial Investments

The global chronic disease management market is segmented and analyzed for demand and supply by type into solutions, and services, out of which the solutions segment is anticipated to hold the highest share over the forecast period on the back of increased awareness regarding the use of cloud-based healthcare solutions, and growing trend of on-demand healthcare solutions. For instance, in the United States, approximately 48% of consumers are going online to research doctors, whereas around 79% of consumers book medical appointments online.

Global Chronic Disease Management Market Regional Synopsis

The North America region chronic disease management market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The increasing geriatric population, growing prevalence of chronic diseases i.e., heart disease, cardiovascular disease, and cancer, and an upsurge in technological advancements in the region. According to the data released by the Centers for Disease Control and Prevention, in the United States, heart disease resulted in the deaths of about 697,000 people in 2020, representing 1 in 5 deaths.

Market Segmentation

Our in-depth analysis of the global chronic disease management market includes the following segments:

      By Type

  • Solutions
  • Services

       By Deployment Mode

  • On-Premise
  • Web-Based
  • Cloud-Based

       By Disease Type

  • Cancer
  • Diabetes
  • Cardiovascular Diseases
  • Arthritis
  • Asthma
  • Chronic Obstructive Pulmonary Disorders (COPD)
  • Stroke
  • Others

 

       By Service Type

  • Consulting Service
  • Implementation Service
  • Educational Service
  • Others

       By End-User

  • Providers
  • Payers
  • Others

Top Featured Companies Dominating the Global Chronic Disease Management Market

  • WellSky Corporation

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Cedar Gate Technologies
  • Pegasystems Inc.
  • Koninklijke Philips N.V
  • Altruista Health
  • Cognizant TriZetto Software Group Inc
  • Infosys Limited
  • Hinduja Global Solutions Ltd.
  • Epic Systems Corporation
  • NXGN Management

 

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