According to the latest research reports, the global chronic diseases management market size is predicted to reach USD 4000 Million in the year 2018 and it is predicted to register a CAGR of 14.5% during the forecast period. Chronic disease management consists of a predefined set of actions focused primarily on delivering high-quality healthcare and improving patients' quality of life. Chronic illness management Solutions include a wide range of solutions, such as recommendations for chronic diseases self-management model of chronic illness conditions, multidisciplinary treatment, and lifestyle counseling to raise knowledge about various diseases.
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One of the primary factors anticipated to fuel the rise and demand for chronic disease treatment is the global increase in the prevalence of chronic diseases such as COPD, asthma, cancer, diabetes, stroke, or musculoskeletal problems. Furthermore, from 2021 to 2028, the global chronic kidney disease management market is anticipated to grow due to a growth in the number of people with chronic diseases and a rise in awareness of nutritional management of chronic kidney disease. Similarly, rising degrees of digitalization integration in healthcare systems and facilities and an increase in the geriatric population are expected to drive market expansion. Furthermore, better service provider offerings have increased demand for chronic disease management services, which are likely to be key contributors to the chronic disease management market growth. The fast increase in the medical tourism sector, as well as the fast rise in healthcare IT solutions, which have driven the development of chronic disease management services, are projected to provide substantial growth possibilities for the chronic disease management market from 2021 to 2028.
This report contains all the information on the global chronic diseases management market trends, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global chronic diseases management market statistics and forecast to 2026 is also included in the report.
Covid 19 Analysis
The vast majority of funds and resources have been dedicated to the containment of the new coronavirus epidemic, which remains uncontrollable despite the global lockdown. This issue is delaying therapy for those suffering from chronic illnesses. The COVID-19 epidemic, on the other hand, has increased the usage of different digital platforms that assist individuals to obtain better access to medical treatment, which can be beneficial to the care management industry and increase demand for chronic illness management solutions.
Market Dynamic
Drivers
Growing awareness of the importance of life-threatening diseases, as well as rising healthcare spending, are the major drivers driving the growth of the worldwide chronic diseases market size. According to the World Health Organization (WHO), chronic illnesses would account for nearly three-quarters of all fatalities globally by 2020, with ischemic heart disease accounting for 71% of fatalities and diabetes accounting for 70%.
The integration of digital technology into healthcare systems in developed nations increased awareness about the significance of chronic and life-threatening illnesses, and rising healthcare expenditures are projected to drive the worldwide chronic illness management market during the projected period.
Opportunities
In the future, the global chronic disease management market is expected to be fueled by the use of digital technologies and rising IT healthcare services.
Restraints
Non-compliance and a lack of adherence among patients are expected to restrict the growth of the chronic disease management market, while a shortage of technically trained experts and workforce necessary for the treatment of these illnesses may provide a barrier to the industry's expansion.
Challenges
Non-compliance and a lack of adherence among patients are expected to restrict the chronic disease management market's growth, while a shortage of technically trained experts and labor necessary for the treatment of these illnesses might provide a challenge to the market's expansion.
Cumulative Growth Analysis
According to the Centers for Disease Control and Prevention, chronic illnesses affect 6 out of 10 individuals in the United States. Furthermore, according to the National Association of Chronic Illness Directors, chronic disease consumes over 75% of all healthcare expenditures in the United States each year. In terms of public insurance, chronic illness treatment accounts for an even greater amount of expenditures, accounting for 96 cents on the dollar for Medicare and 83 cents on the dollar for Medicaid. The chronic care management market is growing as a result of a large amount of money spent on chronic diseases in healthcare.
According to the National Center for Biotechnology Information, chronic illnesses such as cancer, cardiovascular disease, chronic respiratory disease, diabetes, and mental illness account for 855 fatalities in the European Union. Furthermore, cancer-related healthcare costs in European Union member states accounted for 6% of overall healthcare spending in 2015.
Value Chain Analysis
According to the reports, the global chronic disease management market has been segmented into solution, delivery mode, application, end-user, and region. The market has been divided into solutions such as instructional solutions, implementation solutions, consulting solutions, and others. The market has been categorized based on application into safety arthritis, cardiovascular disease, cancer, diabetes, and others. The market has been divided into three segments depending on delivery mode: cloud-based, on-premises, and web-based. The market has been divided into three segments based on end-user: providers, payers, and others.
The market has been divided into four regions: the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Chronic Disease Management market in the Americas has been further subdivided into North America and Latin America, with North America split into the United States and Canada. The European Chronic Disease Management market is divided into two sections: Western Europe and Eastern Europe. Western Europe is further subdivided into Germany, France, the United Kingdom, Italy, Spain, and the rest of Western Europe. The Asia-Pacific chronic illness management market has been divided into Japan, China, India, Latin Korea, Australia, and the rest of Asia-Pacific.
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