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Chronic Disease Management Market 2024 - By Industry Trends, Business Growth, Share Analysis And Global Forecast To 2033
Chronic Disease Management Market
The chronic disease management market size is expected to see exponential growth in the next few years. It will grow to $20.38 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to patient-centric care models, population aging, focus on remote patient monitoring (rpm), increasing prevalence of chronic diseases, global healthcare trends.. Major trends in the forecast period include global health challenges and pandemic response, government initiatives and policy support, consumer health apps and platforms, interoperability and health information exchange, focus on behavioral health, telehealth expansion..
Market Overview -
The chronic disease management refer to software and tools used to manage the symptoms of long-term conditions and delay the advancement of chronic conditions to ensure the safety of life.
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Geriatric Population Growth As A Key Driver Of The Chronic Disease Management Market
The rise in the geriatric population is significantly driving the growth of the chronic disease management market. The geriatric population refers to people above the age of 65 years. Geriatric people have the highest chance of suffering from chronic diseases. Chronic illness often results in an increased need for medical care and supportive long-term care services, increasing the need for the chronic disease management solutions. According to report published in October 2021 by WHO, the proportion of the world's population over 60 years old would nearly double from 12% to 22% between 2015 and 2050. Thus, an increase in the geriatric population will propel the chronic disease management market growth.
Competitive Landscape -
Major companies operating in the chronic disease management market report are Allscripts Healthcare Solutions Inc. (now known as Veradigm Inc. ), ScienceSoft USA Corporation, Siemens Healthcare Private Limited, Infosys Limited, MINES and Associates Inc., Biofourmis Care Solutions Pte. Ltd., i2i Systems Inc., Phytel Inc., Wellcentive Inc., TriZetto Corporation, Mediware Human & Social Services Inc., Pegasystems Inc., ZeOmega Inc., Cigniti Technologies Limited, Health Catalyst, Cedar Gate Technologies, Epic Systems Corporation, Hinduja Global Solutions Ltd., NXGN Management LLC, Casenet LLC, ExlServings Holdings Inc., cliexa Inc., Vivify Health Inc., WellSky, Alkeus Pharmaceuticals, Healthy. io, Immunic Inc., GlaxoSmithKline (GSK), GEOVAX INC., Bluebird Bio, Optum Inc., Omada Health
AI-Powered Solutions Transforming Chronic Disease Management
Technological advancement is a key trend gaining popularity in the chronic disease management market. Advanced technologies like artificial intelligence (AI) are being adopted to treat chronic diseases. By utilizing AI, medical personnel can witness advances in early intervention and patient outcomes for patients suffering from heart disease, cancer, and diabetes. For instance, in February 2022, Biofourmis, a Boston-based startup specializing in artificial intelligence-driven virtual care and digital pharmaceuticals, has developed Bioformis Care, a service that provides high-quality remote care to patients suffering from chronic diseases. Biofourmis Care will concentrate on increasing provider adherence to care recommendations and spotting patterns of clinical deterioration to allow for early treatments.
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Key Segments -
The chronic disease management market covered in this report is segmented -
1) By Service: Consulting Service, Implementation Service, Educational Service
2) By Delivery Mode: On-premise, Cloud-based, Web-based
3) By Disease Type: Cardiovascular Diseases, Diabetes, Cancer, Asthma, Chronic Obstructive Pulmonary Disorders
4) By End User: Providers, Payers
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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