Allied Market Research recently published a report, titled, "Chronic Disease Management Market by Type (Solutions, Services), by Disease Type (Cardiovascular diseases, Diabetes, Cancer, Asthma, Chronic obstructive pulmonary disorders, Others), by End User (Healthcare Providers, Healthcare Payers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global chronic disease management industry was pegged at $4.90 billion in 2021, and is expected to reach $14.88 billion by 2031, growing at a CAGR of 11.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Major determinants of the market growth
Increase in geriatric population, surge in prevalence of chronic diseases including cancer and diabetes, and popularity of chronic disease management owing to integration of IT solutions have boosted the growth of the global chronic disease management market. However, dearth of skilled professionals and trained workforce hinder the market growth. On the contrary, rise in strategic initiatives such as mergers, acquisitions, and collaborations by major market players would open new opportunities in the future.
The solution segment dominated the market
By type, the solutions segment held the largest share in 2021, contributing to nearly two-thirds of the global chronic disease management market, and is expected to dominate the market. In addition, the segment is projected to manifest the highest CAGR of 12.0% during the forecast period, due to increase in awareness of the use of cloud-based and on-premise solutions in healthcare leads to the growth of the chronic disease management system. The report includes analysis of the services segment.
North America held the lion's share
By region, the market across North America held the largest share in 2021, accounting for nearly half of the global chronic disease management market, and is expected to maintain the leading position throughout the forecast period. This is due to the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, heart disease, and arthritis. However, the market across Asia-Pacific is expected to register the highest CAGR of 13.4% during the forecast period, owing to rise in the geriatric population in the region.
The diabetes segment to manifest the highest CAGR through 2031
By disease type, the diabetes segment is estimated to portray the highest CAGR of 12.7% during the forecast period. In addition, the segment held the largest share in 2021, accounting for more than one-fourth of the global chronic disease management market, and is expected to continue its dominance during the forecast period. This is due to increase in prevalence of diabetes because of changes in lifestyle, unhealthy diet, physical inactivity, and obesity. The report includes analysis of the cardiovascular diseases, cancer, asthma, chronic obstructive pulmonary disorders, others.
Major market players
ZeOmega
Cedar Gate Technologies
Health Catalyst
Pegasystems Inc.
Cognizant
Hinduja Global Solutions Ltd. (Bengaluru)
Epic Systems Corporation
Casenet, LLC
NXGN Management, LLC
cliexa, Inc.
ExlServings Holdings, Inc.
Allscripts Healthcare, LLC
Vivify Health, Inc.
Medecision
Infosys Limited
Koninklijke Philips N.V. (Netherlands)
Altruista Health
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