Global Transitional Care Management Services : Market Growth, Prominent Players, Future Opportunities and Business Strategies, Challenges & Segmentations, Regional Study and Forecast by 2031

The Global Transitional Care Management Services Market Size is assessed at 232.20 million in 2023 and is anticipated to increase to 805.21 million by 2031, with a compound annual growth rate (CAGR) of 17.02% during the forecast period of 2024-2031.

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Latest Drivers Restraint and Opportunities Market Snapshot:

The following are the primary obstacles to the global transitional care management services market 's expansion:
• High initially cost
• Shortage of qualified experts
• Lack of awareness

Key factors influencing the global transitional care management services market are:
• Rising Rates of Chronic Illnesses
• Improvement of healthcare facilities
• Increasing aging population

Future expansion opportunities for the global transitional care management services market include:
• Increasing awareness
• Increasing funding for R&D campaigns
• Rising Number of Surgical Operations

Market Analysis:

The demand for transitional care management services has expanded globally, with a particular focus on elderly patient care; hence, the market for transitional care management services will most likely expand due to the rising number of patients with chronic conditions around the world. Furthermore impeding the industry's expansion has been the need for additional qualified personnel to supervise the transitional care management system.

List of Prominent Players in the Global Transitional Care Management Services Market:

• Prohealth Select
• Well Living Initiative (WLI)
• PharMerica Corporation
• CareVitality
• ACT Health Solutions
• Medsie
• Wellsky
• Humworld Inc.
• Rijuven Corp.
• Reliq Health Technologies
• Nextgen Healthcare

Recent Developments:

• In January 2024, PharMerica, a prominent US pharmacy chain, and AME, a leader in the education of consultants, pharmacists, nurses, and administrators of nursing homes, came together to enhance the quality of life for residents by increasing access to education in the long-term care sector.

• In January 2023, Reliq Health Technologies, Inc. recently announced 35 SNFs in Florida. This enhancement expands Reliq's service offerings to include transitional healthcare management (TCM) for patients who have been discharged.

• In October 2023, WellSky, a prominent health and community care technology company, introduced a new software solution called WellSky Enterprise Referral Manager. This program will revolutionize the referral, intake, and customer relationship management (CRM) procedures of home health, hospice, and other home-based care agencies.

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Global Transitional Care Management Services Market Dynamics:
Market Drivers: Rising Rates of Chronic Illnesses

The market for transitional care management services is expected to grow in the future due to the growing number of patients afflicted with chronic conditions. Chronic illnesses necessitate ongoing medical treatment, cause difficulty with daily activities, or are characterized by a duration of one year or more. Chronic maladies include cardiovascular disease, cancer, chronic obstructive pulmonary disease, diabetes, and other non-communicable diseases. Transitional care management (TCM) aims to reduce the onset of chronic diseases by enabling the seamless transition of care from one location to another. Transitional care management (TCM) therapies, which encompass patient education on self-management, preparation for release, and comprehensive follow-up, can assist in preventing and managing complications associated with chronic diseases.

Challenges: High Cost

The cost of transitional care management (TCM) services is exorbitant, rendering them unaffordable for many individuals and hindering the market's growth. However, it is anticipated that this constraint will be resolved by decreasing the expense of hospital stays. A lack of knowledge about telehealth and transitional care is also present in underdeveloped nations with insufficient healthcare infrastructure. This is in addition to the transitional care management system, which necessitates more competent individuals to supervise, which has impeded the sector's expansion.

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North America is Expected to Grow with the Highest CAGR During the Forecast Period

The North America Global Transitional Care Management Services Market is expected to experience a rapid CAGR and register a substantial revenue share shortly. This is due to a combination of factors, such as the expansion of healthcare infrastructure in the region, the prevalence of a variety of diseases, an increase in surgical procedures, and an ageing population. As a result of the recent investment in healthcare infrastructure, the market for transitional care management services in North America has been expanding rapidly, enabling the provision of high-quality healthcare services to patients.
Segmentation of Global Transitional Care Management Services Market-

By Service-
• Patient Transitional Care Management Services
o Face-to-face Visit
o Interactive Contact (Direct Contact, Telephone, Electronic)
o Non-face-to-face (Telehealth)
• Healthcare Transitional Care Management Services
o Non-Physician Practitioners
o Physicians
• Billing Transitional Care Management Services
• Documenting Transitional Care Management Services
• Others

By End User-
• Community Settings
• Inpatient Settings

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By Region-

North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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