Global Transitional Care Management Services Market 2024 Opportunity Assessment, Size, Growth Rate And Forecast To 2033

The transitional care management services market size has grown rapidly in recent years. It will grow from $244.04 billion in 2023 to $286.43 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to healthcare policy changes, focus on value-based care, hospital readmission reduction initiatives, collaboration among healthcare providers, patient-centered care emphasis.

The transitional care management services market size is expected to see rapid growth in the next few years. It will grow to $545.58 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to patient engagement solutions, policy support for care coordination, expanding healthcare access, data analytics and predictive modeling, patient-centered medical home models. Major trends in the forecast period include telehealth integration, emphasis on patient-centered care, increased collaboration and care coordination, remote patient monitoring technologies, focus on chronic disease managemen.

Market Overview -
Transitional care management TCM refers to a collection of services that assists patients in transitioning from one healthcare environment to another, such as from a hospital to a primary care physician. It is used to guarantee continuity of treatment, minimize avoidable bad outcomes, and limit possibly avoidable readmissions and medical mistakes in the 30 days following discharge from the acute care environment.

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Surge In Chronic Diseases Drives Growth Of Transitional Care Management Services Market
The rising number of patients with chronic diseases is expected to propel the growth of the transitional care management services market going forward. Chronic illnesses are described generically as disorders that persist for a year or longer and need continuing medical treatment, impede everyday activities, or both. Chronic diseases include non-communicable diseases such as cardiovascular disease, cancer, chronic respiratory disease, and diabetes. Transitional care management (TCM) services aid in the prevention of chronic illness by ensuring patient care is not disturbed while moving from one care environment to another. Transitional care management (TCM) therapies include self-management education, discharge planning, and systematic follow-up, which can assist patients in managing chronic diseases and avoiding problems. For instance, according to a report published by the National Institutes of Health (NIH), a US-based biomedical research agency, in 2023, in the United States, the number of people aged 50 and older with at least one chronic illness is predicted to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity would rise by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Therefore, the rising number of patients with chronic diseases is driving the growth of the transitional care management services market.

Competitive Landscape -
Major companies operating in the transitional care management services market report are Humworld Inc., Rijuven Corp., PharMerica Corporation, CareVitality, ACT Health Solutions LLC, Medsien Inc., Wellsky Corporation, Prohealth Select, Well Living Initiative, Care UK Limited, Genesis Healthcare Corp., MRG Health Inc., US Acute Care Solutions, Charter Health Care Group, Amedisys Inc., Kindred Healthcare LLC, National HealthCare Corporation, LHC Group Inc., Brookdale Senior Living Inc., Encompass Health Corporation, HCR ManorCare Inc., PruittHealth, Consulate Health Care, Signature Healthcare LLC, Life Care Services LLC, Sunrise Senior Living LLC, Five Star Senior Living Inc., Senior Lifestyle Corporation, Holiday Retirement, Erickson Living Management LLC, The Ensign Group Inc., Diversicare Healthcare Services Inc., Saber Healthcare Group LLC, SavaSeniorCare LLC .

Innovative Programs Transform Transitional Care Management Services Market
Product innovations are a key trend gaining popularity in the transitional care management services market. Major companies operating in the transitional care management services market are focused on innovating new solutions to sustain their position in the market. For instance, in May 2022, PharMerica Inc., a US-based healthcare company, launched the Continuing Care Transitional Care Management Program to address care gaps when residents moved from skilled nursing facilities to their homes. It includes home-based primary care and nurse hub outreach services provided by BrightSpring Health Services to facilitate a safe transition home for medically complex clients, notably those on 8 to 12 medications or those with several chronic diseases or comorbidities. This is the first program of its type to take transitional care management to the next level, ensuring that residents coming home from a skilled nursing facility have access to the full range of person-centered, hands-on treatments required to remain healthy at home.

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Key Segments -
The transitional care management services market covered in this report is segmented -
1) By Service: Patient TCM Services, Healthcare TCM Services, Billing TCM Services, Documenting TCM Services, Other Services
2) By Disease Type: Cardiovascular diseases, Diabetes, Cancer, Asthma, Chronic obstructive pulmonary disorders, Other Diseases
3) By Application: Inpatient Settings, Community Settings

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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