Chronic Diseases Management Market Size by Service Type, Application, End User Analysis and Forecast to 2023

The Global Chronic Disease Management Market is expected to grow at a CAGR of 17.5% during the forecast period 2017-2023. 

There is huge market for chronic diseases management globally owing to its application in various field such as such as diabetes, cardiovascular diseases, cancer, autoimmune diseases, chronic obstructive pulmonary disorder, and few others. Increasing prevalence of chronic disease globally considering the major factor which lead the growth of chronic diseases management market globally. According to Cancer research UK, in 2014, around 356,860 people were diagnosed with cancer. Report suggest that it incident of cancer are rising rapidly in last few years and expected to grow quickly in coming future owing to unhealthy diets, high rate of smoke and alcohol consumption.

Chronic disease management service is taking gaining the attractiveness throughout the globe, due to the use of health information technologies and improved availability of the online resource in the healthcare. Approximately 36 million patients took advantage of Medicare reimbursement policy in 2015 due to chronic disease management services. There is huge competition among the leading services provider in this market. Both leading and local service provider offers various scheme to compete in the market.

According to a recent study published by the Market Research Future analysts, the global chronic disease management market is a dynamic market growing at double digit growth rate. The growth of this market is mainly due to rise in the prevalence of the chronic diseases. Increase in prevalence has led to the high demand for the chronic care devices, tools, and monitoring software. Moreover, increasing investment in Research and development, and availability of funds drive the growth of the market. Moreover, increasing government support, changing lifestyle, and rapidly developing technology is expected to fuel the market growth.

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On the other hand, there are some hurdles in this market such as high cost involved in the development of the required infrastructure. Moreover, there is poor patient engagement, lack of interoperability, and concerns about the data security which can hinder the growth of the chronic disease management market to an extent.

Key Players

Some of key the players in the market are TriZetto Corporation (U.S.), Phytel Inc (U.S.), Pegasystems Inc. (U.S.), AxisPoint Health (U.S.),  Wellcentive, Inc, Medecision, Inc (U.S.), i2i Systems, Inc (U.S.), HealthSmart Holdings, Inc (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), ZeOmega Inc. (U.S.), Epic Corporation Inc (U.S.), Harmony Information Systems, Inc. (U.S.), Infosys Limited (India)

Regional Analysis

The Americas dominate the global chronic disease management market owing to the rising prevalence of chronic disease, unhealthy diets, high healthcare spending, and low physical exercise. Furthermore increasing government support for research & development and the concentration of major companies have fuelled the growth of the market in this region.

Europe holds the second position in the global chronic disease management market owing to the government support for research & development and availability of funds for research. Although companies within this region are also involved in export to the developing countries which leads the market of Europe.

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Asia Pacific is the fastest growing chronic disease management market owing to the high presence of patient with chronic disease. Although rapidly developing healthcare technology, increasing demand for new treatment methods in countries like India and China is likely to emerge as the fastest growing market across the globe. Furthermore, increasing demand for quality devices in the healthcare provide the opportunity to the market players to fill the gap between demand and supply and maximize the profits.

On the other hand, in the Middle East and Africa, hold the least market due to low research and development activities and poor healthcare infrastructure.

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