ID: MRFR/HS/0475-HCR | 90 Pages | Author: Rahul Gotadki | October 2023
The Chronic Disease Management Market Size was valued at USD 5.6 billion in 2021 and is projected to grow from USD 6.37 Billion in 2022 to USD 19.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.1% during the forecast period (2023 - 2032). A growing understanding of the gravity of life-threatening illnesses and rising healthcare costs are the key drivers enhancing market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The rise in the incidence of chronic diseases including diabetes, cancer, and hypertension will drive the market forward during the forecast period. The increased prevalence of chronic diseases such as obesity and diabetes among the elderly is a major reason for concern. Many patients managing a chronic illness face difficulties gaining regular access to and affording medical care due to socioeconomic constraints. Patients in this situation may delay or forego necessary treatment due to financial constraints.
The elderly have a greater risk of developing chronic diseases, which increases demand for services in the chronic disease management sector. The market for Chronic Disease Management will also be considerably impacted by the rise in sedentary behavior. Also benefiting from rising urbanization and personal income is the Chronic Disease Management industry. The need for Chronic Disease Management is expected to grow in tandem with rising investments in healthcare infrastructure.
The X-Labs section of Fitterfly, a Mumbai-based DTx business, was officially formed in July 2023. The department's goal is to improve the standard of care for people with chronic diseases by combining AI with Human-Centered Design. X-Labs is dedicated to working in two very important areas. AI-powered chatbots and virtual mentors are two examples. Human coaches will continue to give in-depth, individualized treatment, but with the help of X labs, AI will take over tasks like monitoring progress, setting reminders, answering common requests, and providing routine information. The company is looking on virtual biomarkers to supplement glucose levels through biofeedback loops and quantify crucial health information. Since Fitterfly takes care of the data analysis, doctors and nurses can concentrate on caring for patients instead of crunching numbers.
The prevalence of chronic illnesses such as diabetes, cancer, high blood pressure, and others will rise throughout the projection period, accelerating the market's growth. Chronic illnesses are a major cause of concern for older adults as they are more likely to be fat and have diabetes. Due to socioeconomic barriers, numerous people undergoing chronic illness management struggle to access and pay for medical care regularly. These patients could put off or skip crucial therapy if they don't have the money.
Type, illness type, end user, and geography are the main segments of the chronic disease management market. The market is divided into solutions and services based on type. Because life expectancy has grown over time, more people are in their 60s and beyond. According to the United Nations Database on World Population Ageing 2020, there will be 1.5 billion older adults worldwide by 2050, up from 727 million in 2020. The danger of developing chronic illnesses is higher in the elderly, which drives up demand for the chronic disease management industry. The increase in sedentary behavior will also significantly impact the market for Chronic Disease Management. Along with this, the market for Chronic Disease Management is expanding due to increased urbanization and disposable income. Rising healthcare infrastructure spending will also accelerate the demand for Chronic Disease Management.
Figure1 The projected rise in chronic Diseases (2003-2023)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
One hundred twenty-five million Americans suffered from one or more chronic illnesses in 2000. By 2030, this figure is anticipated to rise by more than 1%. The number of Americans with chronic diseases will rise by 46 million, or 37 percent, between 2000 and 2030. Age groups have different prevalent chronic diseases. Among those 65 and older, hypertension (60%), abnormalities of the cholesterol (41%), arthritis (28%), heart disease (25%), and eye problems (23%) are the most common chronic illnesses. Among persons aged 18 to 64, hypertension (30%), cholesterol issues (20%), respiratory illnesses (19%), and diabetes (12%) are the most common chronic problems.
The Chronic Disease Management market segmentation, based on Solutions, includes Educational Solutions, Implementation Solution, Consulting Solution and others. During the projected period, it is predicted that the Implementation Services would account for the largest market share or xx%, due to a stronger emphasis on providing efficient and cost-effective solutions. The foundation of implementation service is integrating new technology processes into a company workflow.
Based on Delivery Mode, the Chronic Disease Management market segmentation includes Cloud-Based, On-Premises and Web-Based. In 2021, the Cloud Base service sector represented 45% of the market share. This market segment is also anticipated to develop at a CAGR of 13.2% during the projected period because of its scalability, affordability, and flexibility. This market sector is adaptable and may be adopted for a reasonable price. The patient's record and other services depend heavily on this service.
Figure 2 Chronic Disease Management Market, by Delivery Mode, 2021 & 2032 (USD Million)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on application, the Chronic Disease Management market segmentation includes Arthritis, Cardiovascular Disease, Cancer, Diabetes and others. Due to lifestyle changes, bad eating habits, physical inactivity, and obesity, the diabetes category contributed the most to the market's overall revenue. The factors projected to propel the growth of the Chronic Disease Management market include the rising prevalence of type-1 and type-2 diabetes, which boosts the need for disease management systems to control the prevalence of this illness. Due to an increase in the incidence of cardiovascular illnesses, including stroke, aortic aneurysm, arrhythmia, and others driving the market growth, cardiovascular is predicted to be the category with the fastest expanding market during the chronic disease management market projection.
The Chronic Disease Management market segmentation, based on End-User, includes Providers and Payers. The healthcare provider sector was the market segment that contributed the most revenue in terms of end users. A rise in the incidence of long-term conditions, including cancer, heart disease, diabetes, asthma, and chronic obstructive pulmonary disease. To provide improved treatment choices for the management of chronic illnesses, the need for health care services rises. This element greatly fuels the market for chronic illness management.
November 2022,MedStar Health and Zephyr AI, Inc. (a startup specializing in precision medicine technology) announced their partnership to work to improve outcomes for chronic diseases, beginning with type 2 diabetes (T2D). Zephyr AI's Insights predictive analytics tool will benefit from MedStar Health's de-identified T2D datasets and patient management knowledge thanks to this partnership. The goal of the tool is to reduce complications associated with T2D, such as renal failure, foot ulcers, and amputations, by speeding up the timing of therapies. Our existing efforts to better outcomes and lower costs for patients with diabetes can be complemented by technology that Zephyr AI and MedStar Health can create together, bringing the promise of precision medicine to chronic diseases.
September 2023,Improved chronic illness management was associated with access to primary care for individuals, independent of their socioeconomic status or where they lived. Access to primary care may be the key to better chronic disease management and detection for individuals with hypertension, regardless of where they live, a study published in an AHA peer-reviewed journal found. Improved access to primary care was investigated to see if it would help individuals in low-income areas better manage their chronic diseases. Medical practitioners in primary care settings and community clinics were found to have an opportunity to increase high blood pressure screening and diagnosis by making available more cost-effective treatment and management alternatives.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North p
American Chronic Disease Management market accounted for USD 2.45 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is accounted for by an increase in chronic disease cases, notable individuals' presence, and local healthcare advancements. For instance, six out of ten people in the United States suffer from at least one chronic condition, such as diabetes, cancer, heart disease, or a stroke, all of which significantly contribute to the nation's escalating healthcare costs and major sources of death and disability.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3 CHRONIC DISEASE MANAGEMENT MARKET SHARE BY REGION 2021 (%)
Europe accounted for the second-largest market for chronic illness management because of growing healthcare expenses and an aging population. A further factor driving market expansion is rising healthcare spending. The primary driver propelling the expansion of the chronic diseases management market is the rising incidence of chronic diseases, including asthma, COPD, cancer, diabetes, stroke, and musculoskeletal illnesses throughout Europe. Further, the Germany Chronic Disease Management market held the largest market share, and the UK Chronic Disease Management market was the fastest-growing market in the European Region.
The Region with the fastest growth is predicted to be Asia-Pacific. The factors driving the growth of the Chronic Disease Management market include the rise in the incidence of chronic illnesses like diabetes and cancer and the aging population. The population is expected to grow, and there will be a greater need for technologically advanced treatments, which will cause the Chronic Disease Management market to grow. Emerging nations and cities like Japan, Hong Kong, and India have high rates of cancer, which encourages market development. Moreover, China's Chronic Disease Management market held the largest market share, and the India Chronic Disease Management market was the fastest-growing market in the Asia-Pacific region.
Chronic Disease Management Key Market Players & Competitive Insights
Major market players are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for the Chronic Disease Management industry. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and remain in a market that is becoming more and more competitive, Chronic Disease Management industry competitors must provide affordable products.
Manufacturing locally to cut operational costs is one of the main business tactics used by the Chronic Disease Management industry to serve customers and increase the market sector. The Chronic Disease Management industry has recently given medicine some of the most important advantages. The Chronic Disease Management market major player such as TriZetto Corporation (US), Infosys Limited (India), Pegasystems Inc. (US), Siemens Healthcare Private Limited (Germany), MINES & Associates Inc. (US), Allscripts Healthcare Solutions Inc. (US), Koninklijke Philips NV (Netherlands), EXL Healthcare (New York), Harmony Information Systems Inc.(US), ScienceSoft USA Corporation (US)., and others are working on expanding the market demand by investing in research and development activities.
To create artificial intelligence (AI) and remote patient monitoring, the Landon Pediatric Foundation (LPF), a non-profit healthcare organization with headquarters in California, is collaborating with Vironix Health, a digital healthcare provider with headquarters in Austin (RPM). It enhances the treatment of individuals with persistent heart and lung diseases. Each year, a sizable proportion of chronic diseases, including heart and lung disorders, are diagnosed, treated, and cause mortality in the United States. With AI-enabled RPM capabilities, the new cooperation uses lung and cardiovascular knowledge in disease development and patient care to make treatment more accessible to patients and enhance their health.
Solutions for population care management that are patient-centered and adaptable are offered by Altruista Health, Inc. Wellframe, Altruista Health bought a startup that manages digital health in October 2021. With this purchase, HealthEdge would expand its offering of SaaS solutions for managing payer workflow processes and enter the member engagement market.
Key Companies in the Chronic Disease Management market include
Chronic Disease Management Industry Developments
Report Attribute/Metric | Details |
Market Size 2021 | USD 5.6 billion |
Market Size 2022 | USD 6.37 billion |
Market Size 2032 | USD 19.9 billion |
Compound Annual Growth Rate (CAGR) | 13.1% (2023-2032) |
Base Year | 2021 |
Market Forecast Period | 2023-2032 |
Historical Data | 2018 & 2020 |
Market Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product Type, Operating Platforms, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled | TriZetto Corporation (US), Infosys Limited (India), Pegasystems Inc. (US), Siemens Healthcare Private Limited (Germany), Â Â MINES & Associates Inc. (US), Allscripts Healthcare Solutions Inc. (US), Koninklijke Philips NV (Netherlands), EXL Healthcare (New York), Harmony Information Systems Inc.(US), Â ScienceSoft USA Corporation (US). Â |
Key Market Opportunities | New product launches and R&D Amongst major key Players |
Key Market Dynamics | Rising awareness about the seriousness of life-threatening diseases Rising healthcare expenditure |
The Chronic Disease Management market size was valued at USD 5.6 Billion in 2021.
The market for Chronic Disease Management is projected to grow at a CAGR of 13.1% during the forecast period, 2023-2032.
North America had the largest share in the Chronic Disease Management market.
The key players in the Chronic Disease Management market are TriZetto Corporation (US), Infosys Limited (India), Pegasystems Inc. (US), Siemens Healthcare Private Limited (Germany), MINES & Associates Inc. (US), Allscripts Healthcare Solutions Inc. (US), Koninklijke Philips NV (Netherlands), EXL Healthcare (New York), Harmony Information Systems Inc.(US), ScienceSoft USA Corporation (US).
The implementation solution Chronic Disease Management category dominated the market in 2021.
The cloud-based had the largest share in the Chronic Disease Management market.
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