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Chronic Care Management Software Global Market is Projected to Increase Revenues Growth, Business Insights, Future Demand and Forecast 2024-2033
Chronic Care Management Software Market
Chronic Care Management Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $23.05 Bn In 2028 At A CAGR Of 14.4% :
The chronic care management software market size has grown rapidly in recent years. It will grow from $11.78 billion in 2023 to $13.44 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to increasing prevalence of chronic diseases, growing aging population, emphasis on patient-centered care, rising demand for remote patient monitoring, rising healthcare costs.
The chronic care management software market size is expected to see rapid growth in the next few years. It will grow to $23.05 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to adoption of telemedicine and virtual care, increasing focus on preventive care, growing demand for interoperable healthcare solutions, rise in healthcare consumerism, regulatory support for chronic care management initiatives. Major trends in the forecast period include personalized chronic disease management, adoption of wearables and IoT (internet of things) devices, integration of telehealth platforms, utilization of predictive analytics for proactive care, remote patient monitoring technologies.
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Chronic Care Management Software Market Major Segments
The chronic care management software market covered in this report is segmented -
1) By Type: Standalone Software, Integrated Software
2) By Deployment: Cloud-Based, Web-Based, On-Premise
3) By Application: Chronic Disease Management, Case Management, Communication And Collaboration, Other Applications
4) By End User: Hospitals, Clinics, Specialty Centers, Other End Users
Key Driver - Impact Of Healthcare IT Adoption On Chronic Care Management Software Market
The growing adoption of healthcare information technology (IT) solutions is expected to propel the chronic care management software market going forward. Healthcare information technology (IT) solutions encompass digital technologies and systems designed to streamline healthcare processes, enhance patient care delivery, and improve overall healthcare outcomes. Utilizing healthcare information technology (IT) solutions is motivated by the necessity to boost efficiency, elevate patient care, streamline operations, and fulfill regulatory obligations within a progressively digitized healthcare environment. With the help of various IT solutions, chronic care management software improves the quality of care for patients with chronic conditions by promoting better communication, coordination, and monitoring of their healthcare needs. For instance, in January 2022, according to a report published by the Healthcare Information and Management Systems Society (HIMSS), a US-based not-for-profit organization, a substantial 80% of healthcare providers had outlined plans to enhance their investments in technology and digital solutions over the next five years. Furthermore, according to statistics published by the Office of the National Coordinator for Health Information Technology (ONC), a US-based staff division of the U.S. Department of Health and Human Services (HHS), nearly 88% of U.S. office-based physicians had adopted any electronic health record (EHR) by 2021, with almost 78% having adopted a certified electronic health record (EHR). Therefore, the growing adoption of healthcare information technology (IT) solutions is driving the growth of the chronic care management software market.
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Prominent Trend - Focus On Advanced Solutions With Artificial Intelligence Integration In Chronic Care Management Software Market
Major companies operating in the chronic care management software market are increasing their focus on developing advanced solutions, such as ConnectedCare365, to gain a competitive edge in the market. ConnectedCare365 is a digital platform designed to remotely track and manage individuals' health metrics and conditions with chronic diseases, facilitating proactive care delivery and improving health outcomes. For instance, in May 2021, Geisinger, a US-based health and wellness organization, launched ConnectedCare365, an innovative care delivery model. This platform features remote patient monitoring, artificial intelligence integration, data analysis tools, direct communication, patient engagement, coverage of various clinical initiatives, and assistance in transitioning patient care after hospital discharge. Integrating artificial intelligence and data analytics in this system enhances patient outcomes, care coordination, and engagement and sets a new standard in the chronic care management software market by prioritizing personalized care plans, proactive interventions, and cost-effective healthcare delivery.
Chronic Care Management Software Market Players
Major companies operating in the chronic care management software market are McKesson Corporation, International Business Machines Corporation, Siemens Healthineers, Cognizant Technology Solutions, Koninklijke Philips N.V., Infosys Limited, Cerner Corporation, Epic Systems Corporation, EXL Service Holdings Inc, Allscripts Healthcare Solutions Inc., eClinicalWorks LLC, Waystar Revenue Cycle Technology, NextGen Healthcare Inc., MEDITECH, Medecision Inc, Greenway Health LLC, Vivify Health Inc., Casenet LLC, AdvancedMD Inc., Practice Fusion, ZeOmega Inc, Kareo Billing, ScienceSoft USA Corporation, Azalea Health, Care Sync (Vatica Health), InSync Healthcare Solutions, RxNT, ClinicTracker EHR, zHealth EHR, Chronic Care Management Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the chronic care management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chronic care management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chronic Care Management Software Market Report Structure
3. Chronic Care Management Software Market Trends And Strategies
4. Chronic Care Management Software Market - Macro Economic Scenario
5. Chronic Care Management Software Market Size And Growth
…..
27. Chronic Care Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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