Chronic Disease Management Market Analysis- Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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

The global chronic disease management market is estimated to garner a revenue of ~USD 27 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 Billion in the year 2022. The growth of the market is primarily attributed to the worldwide growing prevalence of various types of chronic diseases, that is increasing the death rate and the need for long-term intensive care, along with the increasing use of tobacco, physical inactivity, an unhealthy diet, and the sedentary lifestyle. A significant amount of the world's illness burden is brought on by chronic diseases, which are also a substantial contributor to disability, mortality, and healthcare expenses, and it is anticipated to rise the growth of the global chronic disease management market. For instance, by the end of 2020, the prevalence of chronic diseases was increased by approximately 59% across the globe. Chronic disease management is a type of digital healthcare that helps healthcare providers to offer educational resources to their patients. With the rising usage of digital technology, healthcare practitioners can give more efficient and effective chronic illness treatments. Chronic disease management systems are enabling healthcare practitioners to better manage the treatment of chronic illness 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 the 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 around the globe.
Growing Use of Big Data in Healthcare for Patient Healthcare - Understanding the trends and patterns in data allows healthcare systems to improve patient care while lowering healthcare costs, and it is anticipated to rise the growth of the global chronic disease management market over the forecast period. For instance, the volume of healthcare data increased to around 2,320 exabytes in 2020 across the globe.
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 an increase in 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 - A collection of illnesses known together as musculoskeletal disorders affect the bones, tendons, muscles, cartilage, and other components of the musculoskeletal system. For instance, back discomfort, osteoarthritis, rheumatoid arthritis, and osteoporosis are among these disorders. Furthermore, if osteoarthritis treatment is not provided effectively, can lead to major health issues. In addition, 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 Low-Income Countries - People in low-income nations now have improved access to healthcare and the means to pay for more cutting-edge chronic illness treatments as their incomes rise. Access to specialist pharmaceuticals, cutting-edge medical tools, and telemedicine services are a few examples of this. 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

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 into this category, hampering the growth of the market.
High Initial Investments
Lack of Trained Workforce with Cross-Functional Skills

Global Chronic Disease Management Market Segmentation

The global chronic disease management market is also segmented and analyzed for demand and supply by disease type into cancer, diabetes, cardiovascular diseases, arthritis, asthma, chronic obstructive pulmonary disorders (COPD), stroke, and others. Out of all these segments, the cardiovascular diseases segment is projected to garner the highest share of the market. Indeed, one of the most prevalent chronic illnesses in the world is cardiovascular disease (CVD). Moreover, heart failure, coronary artery disease, stroke, and other illnesses that impact the blood vessels and the heart are all included in CVD. Blood pressure, high blood cholesterol, smoking, inactivity, a poor diet, and obesity are all CVD risk factors. A major amount of the global illness burden is attributable to CVD, which is one of the main causes of mortality worldwide. According to the World Health Organization (WHO), the largest cause of mortality worldwide is cardiovascular disease (CVD), followed by cancer, respiratory conditions, and diabetes. Furthermore, more than 17 million people die every year owing to cardiovascular diseases around the world.

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 the 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.

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

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 are expected to increase the market’s growth in the region. For instance, about 3 in 5 Americans suffer from some sort of chronic disease, such as cardiovascular disease or diabetes. Furthermore, the growing burden of these diseases, along with rising awareness regarding their treatment, is expected to fuel the market’s growth. 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. Moreover, rising disposable incomes and per capita medical spending are also major growth drivers for the market in the region. For instance, the U.S. has the highest medical spending, upwards of USD 12,000. In addition, there has been rising awareness related to wearable medical devices for the management of chronic diseases in the countries such as Canada, and United States, that is further projected to drive the market’s growth in the region.

/Chronic-Disease-Mangement-regional

Get more information on this report: Request Free Sample PDF

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

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 Economic Impact

Request Insights

Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the chronic disease management market?

Ans: Increasing geriatric population, growing use of big data in healthcare, and a worldwide upsurge in chronic obstructive pulmonary disease (COPD) are some major factors driving the growth of the market.

2) What would be the CAGR of chronic disease management market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~13% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the chronic disease management market growth?

Ans: Lack of trained workforce with cross-functional skills, high cost associated with chronic disease treatment, and high initial investments are estimated to hamper the market growth

4) Which region will provide more business opportunities for growth of chronic disease management market in future?

Ans: The market in North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the chronic disease management market?

Ans: The major players in the market are WellSky, Cedar Gate Technologies, Pegasystems Inc., Koninklijke Philips N.V, Altruista Health, Cognizant TriZetto Software Group Inc, Infosys Ltd, Hinduja Global Solutions Ltd., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the chronic disease management market?

Ans: The market is segmented by type, deployment mode, disease type, service type, end-user, and by region.

8) Which segment captures the largest market size in type segment in the chronic disease management market?

Ans: The cardiovascular diseases segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Base Year	2022
Forecast Year	2023-2035
CAGR	~13%
Base Year Market Size (2022)	~ USD 6 Billion
Forecast Year Market Size (2035)	~ USD 27 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 the Middle East and Africa)