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Key Factor Supporting Care Management Solutions Market Development in 2025: Digital Healthcare Investment Surge Fuels Growth In Care Management Solutions Market
Care Management Solutions Market Growth
How Large Will the Care Management Solutions Market Size By 2025?
There has been a swift expansion in the market size of care management solutions in the past few years. Projections indicate that it will surge from $19.89 billion in 2024 to $23.22 billion in 2025, marking a compound annual growth rate (CAGR) of 16.7%. This growth in the historic period is credited to factors such as the aging population, increased instances of chronic diseases, the adoption of electronic health records (EHR), proper management of population health, and a heightened emphasis on the interoperability of healthcare data.
How Big Is the Care Management Solutions Market Size Expected to Grow by 2029?
Expect a swift escalation in the care management solutions market size in the impending years, with a forecasted growth to reach $41.65 billion by 2029, showcasing a compound annual growth rate (CAGR) of 15.7%. This projected growth within the forecast period can be due to an increased emphasis on healthcare data security, the rise in adoption of remote patient monitoring software, a broader utilization of mobile health applications, the uptake of care management solutions in recently emerging healthcare markets, and a concentrated focus on preemptive care. The key trends predicted for the forecast period include the incorporation of artificial intelligence (AI) and prognostic analytics, sustainable and environmentally friendly processes, the integration of genomics and personalized medicine into care management, joint efforts to incorporate community health, and the implementation of blockchain within the healthcare sector.
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Which Key Market Drivers Powering Care Management Solutions Market Expansion and Growth?
The growth of the care management solutions market is predicted to be driven by the escalated investment in digital healthcare. Digital healthcare not only aids patients in monitoring and managing chronic diseases but also aids in preventing diseases and reducing healthcare costs. It has the potential to customize medicine per patient. Digital healthcare solutions enable users to send and receive files online using desktops, laptops, and mobile devices. For example, Fierce Healthcare, a US-based media organization providing crucial updates, analysis, and insights to the healthcare industry, reported in December 2022 that health tech companies secured noticeably less funding this year compared to 2021. CB Insights reported that funding had reached $12.6 billion across 458 deals by the end of the third quarter of 2022. Furthermore, 23 healthcare-centric startups reached 'unicorn' status in 2022, surpassing the $1 billion valuation mark. Hence, the rising investment in digital healthcare is stimulating the demand for the care management solutions market.
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Which Fast-Growing Trends Are Poised to Disrupt the Care Management Solutions Market?
Key players in the care management solutions market are innovating and introducing advanced platforms like medical management platforms, aiming to attract a larger clientele, boost sales, and augment revenue. A medical management platform is a holistic software system or tech solution created to streamline and enhance various elements of healthcare management. For example, in October 2022, VirtualHealth, a leading American provider of healthcare solutions, unveiled their novel pre-configured setup named HELIOS Essentials for their industry-leading HELIOS platform. Crafted specifically for specialty care providers and mid-size healthcare organizations, HELIOS Essentials provides an exceptional customization opportunity and robust automation powered by Artificial Intelligence. This state-of-the-art platform is a cost-effective, user-friendly, enterprise-level medical management solution that eliminates data isolation, streamlines operations, reduces IT resource requirements, and encourages all-inclusive, value-based healthcare. HELIOS Essentials acts as a unified ecosystem for modern care teams, encouraging unrivaled collaboration, coordination, automation, and healthcare delivery.
What Are the Emerging Segments in the Care Management Solutions Market?
The care management solutions market covered in this report is segmented -
1) By Component: Software, Services
2) By Delivery Mode: On-premise, Cloud-based
3) By Application: Disease Management, Case Management, Utilization Management
4) By End User: Hospitals And Clinics, Accountable Care Organizations (ACOs), Health Insurance Providers, Other End-Users
Subsegments:
1) By Software: Care Management Software, Population Health Management Software, Patient Engagement Software, Remote Patient Monitoring Software, Analytics and Reporting Tools
2) By Services: Consulting Services, Implementation Services, Support and Maintenance Services, Training and Education Services
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Who Are the Global Leaders in the Care Management Solutions Market?
Major companies operating in the care management solutions market include EXL Service Holdings Ltd., Allscripts Healthcare Solutions Inc., Conduent Inc., Envolve Health LLC, EPIC Systems Inc., Exlservice Holdings Inc., Health Catalyst Inc., Healthsmart Holdings Inc., i2i Population Health, International Business Machines Corporation, Koninklijke Philips N.V., Mediware Information Systems, Pegasystems Inc., Salesforce Inc., Trizetto Corporation, Zeomega Inc., ZeOmega Infotech Private Limited, Athenahealth, Medical Transcription Billing Corporation, Casenet LLC, Cerner Corporation, Change Healthcare, Conifer Health Solutions, eClinicalWorks, Ensocare Care, GetWellNetwork, Harris Healthcare, IBM Watson Health, Jvion AI Company, McKesson Corporation, Medecision, Meditech Inc., Netsmart LLC, NextGen Healthcare, Optum Inc., TCS Healthcare Technologies, WellSky Corp.
Which are the Top Profitable Regional Markets for the Care Management Solutions Industry?
North America was the largest region in the care management solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the care management solutions market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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