Care Management Solutions Market Report

Care Management Solutions Market Analysis Report By Mode of Delivery (Web, Cloud, On Premise), By Component (Software, Services), By End Use (Healthcare Providers & Payers), And Segment Forecasts, 2018 - 2025

  • Published Date: Oct, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-596-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 90

Industry Insights

The global care management solutions market size was valued at USD 7.5 billion in 2017 and is projected to exhibit a CAGR of 17.0% over the forecast period. Rising emphasis on patient-centric care and increasing burden of healthcare expenditure is creating a need for integrated care management solutions. Healthcare payers, government bodies, and employer groups are increasingly using care management solutions to address their healthcare management needs.

Soaring healthcare expenditures have created a strong need to reduce costs while also improving the quality of care. Healthcare providers rely on care management solutions to accomplish these goals. An ideal solution is measured by its comprehensiveness, all-inclusive nature, and analytical abilities. The key factor driving adoption of these solutions is shifting the burden of risk from healthcare payers to providers.

U.S. care management solutions market

With rising geriatric population and increasing prevalence of chronic diseases such as cancer, diabetes, stroke, cardiovascular disease, and respiratory disease, care management solutions offer effective workflow methodologies, which save time and reduce costs. This presents lucrative opportunities for players in the chronic disease market.

Many healthcare organizations prefer risk-based arrangements, wherein they are accountable to provide healthcare specific to the patient cohort. Some organizations with extensive experience in providing care management use commercial tools, which are not useful when scaling up. Some organizations operate in a fee-for-service setting and have limited resources. Such organizations need efficient care management solutions to perform better while practicing good care management.

Advancements in IT infrastructures and big data capabilities are also responsible for market growth. The capabilities are utilized to integrate claims-based and EMR-based data sources at member/patient level. This information enhances deep analytics used for clinical decision support, care management program placement, and planning.

Component Insights

Based on component, the market is segmented into software and services. Software accounted for the largest share in 2017 and is expected retain its dominance through 2025. The segment is also poised to register the fastest growth rate over the forecast period, thanks to ease of use and affordability of software.

Software solutions provide coordinated and efficient care. They enable providers to effectively diagnose patients, monitor a patient’s vitals and medications, minimize errors during surgery, and generate digital records for clinical research. The iPro Anesthesia platform is one such example.

Mode of Delivery Insights

Based on mode of delivery, the care management solutions market is segmented into web-based, cloud-based, and on premise. The web-based segment accounted for the largest share in 2017, while cloud-based offerings are expected to register the fastest growth rate over the forecast period.

Cloud-based solutions provide higher flexibility, are easy to scale up depending on patient base, and are comparatively more affordable than other modes of delivery. These factors are largely responsible for rapid segment growth through 2025. There has also been a rise in adoption of electronic health records by healthcare providers to improve accessibility, security, and storage capabilities. Cloud-based offerings also result in massive cost savings.

End-use Insights

Based on end use, the market is segmented into healthcare providers, healthcare payers, and others, such as governments and employers. Healthcare providers dominated the market in 2017 owing to increasing demand for patient-centric care, improved quality of healthcare, growing patient base, rising increasing need for faster services.

Healthcare payers rely on statistical models and clinical models. Big data analysis helps them identify members with certain chronic conditions and formulate the most relevant care management programs for patients. It also helps them increase the efficiency of healthcare management programs.

Regional Insights

Geographically, North America dominated the market in 2017 and is expected to maintain its dominance over the forecast period. Technological advancements, increasing adoption of cloud-based solutions, and rising awareness about patients care management are key contributors to the growth of the regional market. Europe is anticipated to exhibit strong growth over the forecast period.

Global care management solutions market

Asia Pacific also presents lucrative opportunities in the market. Improvement of healthcare facilities due to rapid economic development witnessed in emerging countries such as China, Japan, South Korea, and India is one of the high impact rendering drivers. Rising interest and investments by prominent industry players and ongoing collaborative efforts are also responsible for regional growth. For instance, in May 2018, SingHealth, a Singapore-based healthcare group, collaborated with Allscripts to implement the iPro Anesthesia platform across SingHealth’s institutions. The software keeps track of patients’ vital signs and medications during surgery as well as generates digital records for clinical research.

Care Management Solutions Market Share Insights

Existing players are strengthening their foothold in the industry through activities such as collaborations, mergers, and acquisitions. In May 2018, Allscripts announced the completion of its acquisition of HealthGrid Holding Company, a developer of enterprise patient engagement solutions. The acquisition signifies the expansion of the Allscripts FollowMyHealth platform, which provides patient engagement solutions focused on connecting patients with providers.

Similarly, in March 2018, Philips Wellcentive announced a strategic partnership with Holon Solutions. The partnership is aimed at providing patient insights in EHRs of healthcare providers, enabling them to make more informed decisions at point of care.

Some of the key industry contributors are Allscripts Healthcare Solutions, Inc.; Epic Systems Corporation; Cognizant; EXL; Koninklijke Philips N.V.; athenahealth, Inc.; Cerner; Medecision; and IBM.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, & MEA

Country scope

U.S., Canada, U.K., Germany, Japan, China, India, Brazil, Mexico, & South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

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Segments Covered in the Report

This report forecasts revenue growth on global, regional, and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global care management solutions market report on the basis of component, mode of delivery, end use, and region:

  • Component Outlook (Revenue, USD Million, 2014 - 2025)

    • Software

    • Services

  • Mode of Delivery Outlook (Revenue, USD Million, 2014 - 2025)

    • Web-based

    • Cloud-based

    • On premise

  • End-use Outlook (Revenue, USD Million, 2014 - 2025)

    • Healthcare providers

    • Healthcare payers

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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