Chronic Disease Management Market Expected to Reach $14.88 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Chronic Disease Management Market," The Chronic Disease Management Market size was valued at $4.90 billion in 2021, and is estimated to reach $14.88 billion by 2031, growing at a CAGR of 11.8% from 2022 to 2031.

Chronic diseases are long-term progressive ailments that are among the most expensive and common healthcare challenges in the world. Chronic disease management is a sort of digital healthcare service that assists healthcare providers in providing educational information to their patients and the implementation of patient- and illness-specific treatment alternatives and regimens. These services are specifically developed to help people manage chronic conditions and lessen their severity.

The Chronic Disease Management Market trends are an increase in awareness regarding healthcare management services and a rise in the prevalence of chronic diseases such as asthma, COPD, cancer, diabetes, stroke or musculoskeletal diseases across the globe. Moreover, improved services by service providers have increased the demand for chronic disease management services in the market. The growth in the medical tourism sector and the rise in healthcare IT solutions drive the Chronic Disease Management Market growth. However, a lack of skilled professional and high cost of treatment, and high investment in the management system/tools hinders the growth of the market.

COVID-19 Impact

Coronavirus (COVID-19) was discovered in late December 2019, in the Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. Furthermore, the virus has high potential of lethality in the geriatric population. On March 11, 2020, the World Health Organization assessed that COVID-19 can be characterized as a pandemic.

The overall impact of COVID-19 remains positive on the chronic disease management market. As the increase in the prevalence of COVID-19 has driven the demand for accurate diagnosis and treatment devices in several countries. In this regard, chronic disease management solutions have proven to be very helpful, as they allow healthcare providers to seamlessly integrate solutions such as EHR, patient management, and care management to healthcare payer solutions such as claim management and payment management solutions. Moreover, the rapid spread of this disease worldwide has resulted in lockdowns and restrictions, thereby increasing the demand for electronic data transfer and claim management. This is expected to increase the adoption of chronic disease management in the coming years as well.

On the basis of type, the chronic disease management market has been segmented into solutions and services. In 2021, the solution segment accounted for the largest share of the market. The dominance of this segment can be attributed to the increased adoption of software solutions by payers and providers to reduce readmissions, increase cost-effectiveness, improve operational efficiency, enhance patient engagement, and aid data integration and analysis.

On the basis of application, the diabetes segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to an increase in the prevalence of type 1 and type 2 diabetes across the world.

Depending on the end user the chronic disease management market is segmented into healthcare providers, healthcare payers, and others. In 2021, the healthcare providers segment accounted for the largest share of 48.0%. The large share of this segment was attributed to the implementation of the Affordable Care Act and Hospital Readmissions Reduction Program (aimed at lowering healthcare costs by using novel population health management solutions) in the U.S., as well as high demand for these solutions among healthcare providers across regions.

The Chronic Disease Management Industry is segmented on the basis of type, disease type, end user, and region. By type, the market is segmented into solutions and services. The solution segment is further classified on the basis of an on-premise solution and cloud-based solutions. On the basis of service, the segment is categorized into educational service, implementation service, and consulting service. On the basis of disease type, the segment is divided into cardiovascular disease, diabetes, cancer, asthma, a chronic obstructive pulmonary disorder, and others. On the basis of end-user, the segment is divided into providers, payers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

North America accounted for a majority of the chronic disease management market share in 2021 and is anticipated to remain dominant during the forecast period. This is attributed to rising in the number of chronic disease cases, the presence of key players, and advancements in healthcare in the region. For instance, six in ten Americans live with at least one chronic disease, like heart disease and stroke, cancer, or diabetes which are leading causes of death and disability and they are also a leading driver of the healthcare costs in this region.

Asia-Pacific is anticipated to witness lucrative growth, owing to an increase in medical tourism, implementation of new ICT guidelines in Japan, investments, and reforms to modernize China’s healthcare infrastructure, rapid growth in the healthcare industry in India, and the implementation of IT programs in Australia and New Zealand. In addition, government initiatives for the adoption of HCIT, the growth in geriatric population, rise in prevalence of chronic diseases, increase in healthcare expenditure, and rise in purchasing power of consumers are also expected to support the market growth in this region.

The key players that operate in the chronic disease management market are ZeOmega, Health Catalyst, Cedar Gate Technologies, Cognizant, Pegasystems Inc., Epic Systems Corporation, Hinduja Global Solutions Ltd. (Bengaluru), NXGN Management, LLC, Casenet, LLC, ExlServings Holdings, Inc., cliexa, Inc., Vivify Health, Inc., Allscripts Healthcare, LLC, Infosys Limited, Medecision, Altruista Health, Koninklijke Philips N.V. (Netherlands)

Key findings of the study

By Type, the solution segment was the highest contributor to the market in 2021.

By Disease type, the diabetes segment was the highest contributor in 2021.

By End user, the healthcare-providers dominated the market in 2021 and is expected to continue this trend during the forecast period.

By Region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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