Care Management Solution Market to grow by USD 10,655.57 million from 2022 to 2027; Increasing adoption of EHRs drives the market - Technavio

NEW YORK, Aug. 9, 2023 /PRNewswire/ -- The care management solution market size is expected to grow by USD 10,655.57 million from 2022 to 2027, according to Technavio. As per the latest report, the market will progress at a CAGR of 13.88% during the forecast period. Increasing adoption of EHRs is the key factor driving the growth of the market growth. EHRs are digital collections of patients' medical information, aiming to reduce medical errors and enhance the accuracy and clarity of medical records. Many hospitals are prioritizing EHR implementation to avoid data replication risks and maintain an updated database. For instance, Carle Richland Memorial Hospital invested USD 10 million in Epic EHR and phone systems to improve clinical efficiency, patient safety, and care quality. Researchers at MIT and the Beth Israel Deaconess Medical Center developed MedKnowts, a system combining machine learning and human-computer interaction to create a better EHR experience. Government initiatives in various countries, like India's guidelines for a standardized EHR system, are also promoting EHR adoption. The increasing utilization of EHRs is expected to drive the global care management solution market during the forecast period. View the new Sample Report within minutes!

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our care management solution market report covers the following areas:

• Care Management Solution Market size
• Care Management Solution Market trends
• Care Management Solution Market industry analysis
• Care Management Solution Market five forces analysis
• Care Management Solution Market competitive landscape

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AssureCare LLC, athenahealth Inc., Cognizant Technology Solutions Corp., Constellation Software Inc., Epic Systems Corp., ExlService Holdings Inc., HealthEdge Software Inc., HealthSmart Holdings Inc., i2i Systems Inc., InfoMC Inc., International Business Machines Corp., InterSystems Corp., Koninklijke Philips NV, Medecision Inc., Oracle Corp., OSP, Pegasystems Inc., Veradigm LLC, ZeOmega Inc., and Zyter Inc. are some of the major market participants. Although the Increasing adoption of EHRs will offer immense growth opportunities, Concerns about security of patient data and cyberattacks will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Care Management Solution Market 2023-2027: Trends 

The increasing adoption of advanced technologies in healthcare is an emerging trend shaping market growth. The growing need to enhance efficiency and reduce costs is driving healthcare service providers to invest in upgrading their legacy IT systems and integrating new technologies. Artificial Intelligence (AI) is emerging in the healthcare sector, gaining acceptance within hospitals and healthcare systems. AI enables healthcare professionals to quickly access efficient diagnosis charts and insights, leading to timely and high-quality treatment. Emotion recognition is one of the AI use cases in healthcare, capturing, interpreting, and responding to human emotions and moods. For instance, IBM Watson for Health is an AI-based platform solution that helps healthcare organizations apply cognitive technology for generating and storing health data. With the adoption of new technologies, healthcare organizations can offer improved products and treatments. As a result, various hospitals and healthcare systems are embracing these advancements, leading to market growth during the forecast period.

Care Management Solution Market 2023-2027: Segmentation
The care Management Solution Market is segmented as below:

• Application 
• Chronic Care Management
• Disease Management
• Utilization Management
• Deployment 
• Cloud-based
• On-premise
• Geography 
• North America
• Europe
• Asia
• Rest Of World (ROW)

The market share growth by the chronic care management segment will be significant during the forecast period. The global population is facing adverse health effects due to sedentary lifestyles and unhealthy diets, resulting in conditions like stroke and diabetes. These health problems are more common among the elderly population. The geriatric population is increasing worldwide, leading to a higher prevalence of diseases such as lung disease, cancer, and stroke. Aging is associated with a weakened immune system, making the elderly more susceptible to infections. With the rise in chronic illnesses, many patients require long-term care and management. This has led to an increasing demand for chronic care management services. The growing prevalence of chronic diseases and the rising adoption of care management for the elderly are expected to drive the market's growth during the forecast period.

Care Management Solution Market 2023-2027: Challenges 

Concerns about the security of patient data and cyberattacks are major challenges hindering market growth. The healthcare industry is facing a significant threat from cybersecurity issues, particularly with the advancement of new technologies. This challenge is particularly concerning for healthcare, as it involves handling sensitive and personal data of patients. Many healthcare organizations are hesitant to adopt digital technologies due to fears of cyberattacks. The interconnected nature of modern healthcare systems creates security risks, and the abundance of data in the industry makes it an attractive target for cybercriminals and hackers. Healthcare data can be misused or sold to third parties, making privacy a major concern. The use of cloud solutions by some hospitals also raises security concerns, as reports of cyberattacks on data centers have highlighted potential risks to data control and privacy. This cautious approach to adopting healthcare software solutions is likely to impact the growth of the care management solution market during the forecast period.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Care Management Solution Market 2023-2027: Company Analysis

We provide a detailed analysis of around 25 vendors operating in the Care Management Solution Market, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research reports on the Care Management Solution Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

Company Offerings 

• AssureCare LLC - The company offers care management solutions such as Predictive modelling, Workflow automation, Social determinants of health content, Assessments, and Care Plan Library.
• Athenahealth Inc. - The company offers care management solutions to coordinate care and engage patients.
• Cognizant Technology Solutions Corp. - The company offers care management solutions such as Clinical CareAdvance.

Care Management Solution Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist care management solution market growth during the next five years
• Estimation of the care management solution market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the care management solution market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of care management solution market vendors

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Table Of Contents :

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global care management solution market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global care management solution market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Chronic care management - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Chronic care management - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Chronic care management - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Chronic care management - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Chronic care management - Year-over-year growth 2022-2027 (%)

• 6.4 Disease management - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Disease management - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Disease management - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Disease management - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Disease management - Year-over-year growth 2022-2027 (%)

• 6.5 Utilization management - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Utilization management - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Utilization management - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Utilization management - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Utilization management - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ million)
• Exhibit 47: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments
• Exhibit 48: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 50: Chart on Comparison by Deployment
• Exhibit 51: Data Table on Comparison by Deployment

• 7.3 Cloud-based - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cloud-based - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cloud-based - Year-over-year growth 2022-2027 (%)

• 7.4 On-premise - Market size and forecast 2022-2027 
• Exhibit 56: Chart on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on On-premise - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on On-premise - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 60: Market opportunity by Deployment ($ million)
• Exhibit 61: Data Table on Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 Asia - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027 
• Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Canada - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 AssureCare LLC
• Exhibit 111: AssureCare LLC - Overview
• Exhibit 112: AssureCare LLC - Product / Service
• Exhibit 113: AssureCare LLC - Key offerings

• 12.4 athenahealth Inc.
• Exhibit 114: athenahealth Inc. - Overview
• Exhibit 115: athenahealth Inc. - Product / Service
• Exhibit 116: athenahealth Inc. - Key offerings

• 12.5 Cognizant Technology Solutions Corp. 
• Exhibit 117: Cognizant Technology Solutions Corp. - Overview
• Exhibit 118: Cognizant Technology Solutions Corp. - Business segments
• Exhibit 119: Cognizant Technology Solutions Corp. - Key news
• Exhibit 120: Cognizant Technology Solutions Corp. - Key offerings
• Exhibit 121: Cognizant Technology Solutions Corp. - Segment focus

• 12.6 Epic Systems Corp.
• Exhibit 122: Epic Systems Corp. - Overview
• Exhibit 123: Epic Systems Corp. - Product / Service
• Exhibit 124: Epic Systems Corp. - Key offerings

• 12.7 ExlService Holdings Inc. 
• Exhibit 125: ExlService Holdings Inc. - Overview
• Exhibit 126: ExlService Holdings Inc. - Business segments
• Exhibit 127: ExlService Holdings Inc. - Key news
• Exhibit 128: ExlService Holdings Inc. - Key offerings
• Exhibit 129: ExlService Holdings Inc. - Segment focus

• 12.8 HealthSmart Holdings Inc. 
• Exhibit 130: HealthSmart Holdings Inc. - Overview
• Exhibit 131: HealthSmart Holdings Inc. - Product / Service
• Exhibit 132: HealthSmart Holdings Inc. - Key offerings

• 12.9 i2i Systems Inc.
• Exhibit 133: i2i Systems Inc. - Overview
• Exhibit 134: i2i Systems Inc. - Product / Service
• Exhibit 135: i2i Systems Inc. - Key offerings

• 12.10 International Business Machines Corp. 
• Exhibit 136: International Business Machines Corp. - Overview
• Exhibit 137: International Business Machines Corp. - Business segments
• Exhibit 138: International Business Machines Corp. - Key news
• Exhibit 139: International Business Machines Corp. - Key offerings
• Exhibit 140: International Business Machines Corp. - Segment focus

• 12.11 Koninklijke Philips NV 
• Exhibit 141: Koninklijke Philips NV - Overview
• Exhibit 142: Koninklijke Philips NV - Business segments
• Exhibit 143: Koninklijke Philips NV - Key news
• Exhibit 144: Koninklijke Philips NV - Key offerings
• Exhibit 145: Koninklijke Philips NV - Segment focus

• 12.12 Medecision Inc.
• Exhibit 146: Medecision Inc. - Overview
• Exhibit 147: Medecision Inc. - Product / Service
• Exhibit 148: Medecision Inc. - Key offerings

• 12.13 Oracle Corp.
• Exhibit 149: Oracle Corp. - Overview
• Exhibit 150: Oracle Corp. - Business segments
• Exhibit 151: Oracle Corp. - Key news
• Exhibit 152: Oracle Corp. - Key offerings
• Exhibit 153: Oracle Corp. - Segment focus

• 12.14 Pegasystems Inc.
• Exhibit 154: Pegasystems Inc. - Overview
• Exhibit 155: Pegasystems Inc. - Product / Service
• Exhibit 156: Pegasystems Inc. - Key news
• Exhibit 157: Pegasystems Inc. - Key offerings

• 12.15 Veradigm LLC
• Exhibit 158: Veradigm LLC - Overview
• Exhibit 159: Veradigm LLC - Business segments
• Exhibit 160: Veradigm LLC - Key offerings
• Exhibit 161: Veradigm LLC - Segment focus

• 12.16 ZeOmega Inc.
• Exhibit 162: ZeOmega Inc. - Overview
• Exhibit 163: ZeOmega Inc. - Product / Service
• Exhibit 164: ZeOmega Inc. - Key offerings

• 12.17 Zyter Inc.
• Exhibit 165: Zyter Inc. - Overview
• Exhibit 166: Zyter Inc. - Product / Service
• Exhibit 167: Zyter Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 168: Inclusions checklist
• Exhibit 169: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 170: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 171: Research methodology
• Exhibit 172: Validation techniques employed for market sizing
• Exhibit 173: Information sources

• 13.5 List of abbreviations 
• Exhibit 174: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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