Care Management Solutions Market

Report Description
Table of Contents

Report Description

The global care management solution market size is estimated to be USD 13.35 billion in 2021 and is expected to witness a CAGR of 17.69% during the forecast period. Implementation of various initiatives to shift the burden of risk to the healthcare providers rather than the healthcare payers, newer initiatives from the government, demand for affordable healthcare, increase in the geriatric population worldwide, flexible regulations to boost patient-centric care and investments into healthcare IT are some of the major factors that drive the global market growth. However, poor internet connectivity and lack of basic health infrastructure, especially in the emerging markets are some of the factors hindering the market growth.

Care Management Solution Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Component

Based on component, the market is categorized into software and services. The software segment accounted for the highest revenue share in 2021; whereas, the services segment is expected to grow at fastest CAGR during the forecast period owing to the rising demand for maintenance services by healthcare facilities.

By Delivery Mode

Based on delivery mode, the market is categorized into cloud-based, web-based, and on-premise. The web-based segment was the highest revenue-grossing in 2021, while the cloud-based segment is projected to register the highest CAGR over the forecast period. Increase in popularity of digital mode and developing healthcare infrastructure are expected to boost the segment growth.

By Application

Based on the application, the market is divided into disease management, utilization management, case management, and other applications. The disease management segment was the highest revenue-grossing in 2021. This can be attributed to factors such as its ability to reduce the expenditures and help in the reduction of the occurrence of ill health of patients using the healthcare management system.

By End User

Based on end user, the market is categorized into payers, providers, and other end users. The payers segment was the highest revenue-generating segment in 2020 and is projected to grow at the highest CAGR over the forecast period. The growth is propelled mainly by strict regulations for the payers and mitigation of health burden apart from the effective management of the health records. The other end-user segments include research, pathology labs, academic institutes, and physician office laboratories.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is projected to maintain its dominance during the forecast period. This can be attributed to rising government initiatives for the implementation of healthcare IT solutions, presence of trained IT experts, and increasing government funding. Asia Pacific is expected to exhibit the fastest CAGR over the forecast period owing to the rise in healthcare spending, developing healthcare infrastructure, and high demand for advanced IT solutions in healthcare in this region.

Competitor Insights

Some of the key players in care management solutions market are Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), IBM Corporation (U.S.), Medecision Inc. (U.S.), EXL Service Holdings, Inc. (U.S.), Cognizant Technology Solutions (U.S.), Casenet, LLC (U.S.), ZeOmega Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), TCS Healthcare Technologies (U.S.), Health Catalyst Inc. (U.S.), Salesforce.com, Inc. (U.S.), Harmony Information Systems, Inc. (U.S.), Pegasystems Inc. (U.S.), i2i Systems, Inc. (U.S.), and Epic Corporation Inc. (U.S.). The leading players operating in the care management solution industry are adopting various strategies including new product launches, collaborations, and mergers & acquisitions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021-2029. The care management solution market report is categorized into the following segments and subsegments: