As per the American Thoracic Society, around 16 million people in the U.S. had been diagnosed with Chronic Obstructive Pulmonary Disease (COPD) and this disease is the 3rd leading cause of death in the U.S. after heart diseases. Increasing cases of chronic diseases have positively impacted the usage of regular disease management services and solutions. In addition, chronic disease management assists with medication adherence as well as provides direct patient care. Thus, the increase in the incidence rates of chronic diseases is expected to drive the global chronic disease management market in the forecast period.
Data Bridge Market Research analyses that the Chronic Disease Management Market is expected to grow at a CAGR of 16.3% in the forecast period of 2022 to 2029 and is expected to reach USD 20.64 billion by 2029. The senior population group aged 65 and over can have an increased number of different diseases as older people possibly have lower quality of life, weaken the immune system, and decreased self-efficacy. In the senior population, dementia is the most common disease. Thus, the growing pace of the senior population demonstrates the escalation in demand for chronic disease management services and solutions, thus further boosting the chronic disease management market in the forecast period.
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Key Findings of the Study
- The chronic disease management market is anticipated to reach a value of USD 20.64 billion by 2029, with a CAGR of around 16.3% during the forecast period from 2022 to 2029.
- North America dominated the chronic disease management market owing to the increasing number of geriatric population and the development of advanced technology.
- The on-premise solution vectors segment is expected to dominate the chronic disease management market growing with the highest CAGR of 12.2% due to the rising adoption of enterprise application software and enhanced internal processing support.
- The chronic disease management market was adversely affected by COVID-19 outbreak owing to the adoption of electronic health records by clinicians.
- Asia-Pacific is expected to grow during the forecast period due to the rising presence of chronic diseases management providers in this region.
Major Players
Data Bridge Market Research recognizes the following companies as the major chronic disease management market players in chronic disease management market are WellSky (U.S.), ZeOmega (India), Health Catalyst (U.S.), Cedar Gate Technologies (U.S.), Cognizant (U.S.), Pegasystems Inc. (U.S.), Epic Systems Corporation (U.S.), Hinduja Global Solutions Ltd. (Bengaluru), NXGN Management, LLC (US), MINES Associates, Inc. (U.S.), Casenet, LLC (U.S.), ExlServings Holdings, Inc. (U.S.), cliexa, Inc. (Colorado), ScienceSoft USA Corporation (U.S.), Vivify Health, Inc. (Texas), Allscripts Healthcare, LLC (US), Infosys Limited (Bengaluru), Medecision (U.S.), IBM (U.S.), Altruista Health (U.S.), TCS Healthcare Technologies (U.S.), Koninklijke Philips N.V. (Netherlands)
Surge in Disease Management Programs is expected to drive the market's growth rate
The disease management programs are coordinated interventions and communications for healthcare where self-management efforts are implemented. These programs also include information regarding chronic disease management services and solutions. These are becoming very popular owing to the rising prevalence of chronic diseases worldwide. These chronic diseases have been organized and implemented by government and healthcare organizations with multiple disease management programs such as diabetes care programs and asthma management programs. Since disease management programs can significantly improve self-care practices and reduce hospital visits and staying periods to a more excellent extent, they receive more attention among people. Hence, the rising disease management programs are expected to create a significant opportunity for the global chronic disease management market in the forecast period.
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Segment Analysis:
The global chronic disease management market is categorized into five notable segments based on type, solution type, service type, disease type and end user.
- On the basis of type, the global chronic disease management market is segmented into solutions and services. In 2022, the solution segment is expected to dominate the chronic disease management market with a growth rate of 14.3% due to rising technological advancements in chronic disease management solutions.
- On the basis of solution type, the global chronic disease management market is segmented into on-premise solution, cloud-based solution, web-based. In 2022, the on-premise solution vectors segment is expected to dominate the chronic disease management market growing with the highest CAGR of 12.2% due to the rising adoption of enterprise application software and enhanced internal processing support.
- On the basis of service type, the global chronic disease management market is segmented into educational service, implementation service, consulting service and others. In 2022, implementation services segment is expected to dominate the chronic disease management market growing with the highest CAGR of 15.7%
Regional Analysis
Geographically, the countries covered in the chronic disease management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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