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Data Bridge Market Research published the latest Chronic Disease Management MarketStudy after an in-depth study of current scenario, Market size, growth pattern and trends. This study report considers factors like an analysis of market, a market definition, market segmentation and significant trends within the industry. It also examines the competitive landscape as well as research methodology.
Globally, chronic diseases are the primary cause of mortality and disability. They are long-term progressive ailments that are among the most expensive and common healthcare challenges in the world. Chronic Disease Management Market is a sort of digital healthcare service that assists healthcare providers in providing educational information to their patients and the implementation of patient and illness-specific treatment alternatives and regimens.
Data Bridge Market Research analyzes that the global chronic disease management market which was USD 6.17 billion in 2022, would rocket up to USD 20.64 billion by 2030, and is expected to undergo a CAGR of 16.3% during the forecast period.
The solutions segment is expected to dominate the type segment of the global chronic disease management market owing to the growing geriatric population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Chronic Disease Management (CDM) is a type of long-term care and support that provides people with chronic illness with the medical treatment, knowledge, skills, and resources they need to manage their condition. Various software and services are mostly responsible for it. By avoiding or decreasing the consequences of the disease through integrated care, CDM aids in lowering healthcare expenditures and enhancing the quality of life for those with chronic illnesses.
Drivers
Increasing prevalence of chronic diseases
Chronic Disease Management (CDM) is ongoing care and support to assist individuals impacted by a chronic health condition with medical care, knowledge, skills, and resources they need to better manage their health condition on a day-to-day basis. Chronic diseases include asthma, COPD, lung-related disorders brain injury, and others. Increasing cases of chronic diseases have created a positive impact in increasing the usage of CDM services and solutions. CDM assists with medication adherence and provides patient care. Thus, the increase in the incidence rates of chronic diseases is expected to drive market growth.
Growing geriatric population
Aging is a strong risk factor for many chronic diseases. The geriatric population requires more medical services relative to the adult age group. The old population is suffering from various chronic health problems and diseases due to which they are the predominant users of chronic health management services and solutions. The growing pace of the geriatric population is demonstrating the escalation in the demand for CDM services and solutions. Owing to this, it is estimated that the growing geriatric population is expected to drive market growth.
Rising per capita income
Over the past few decades, per capita income has risen substantially in developed and developing countries. Growing per capita income is expected to increase the affordability of patients for opting advanced services for better management of their chronic diseases. This is expected to increase the demand for CDM services and solutions. Recently, the per capita income is bolstering at a higher pace as compared to previous decades. Henceforth, growing per capita income in both developed and developing countries across the globe is expected to drive market growth.
Advancement in healthcare infrastructure and initiatives by government organizations
Advancement in healthcare infrastructure is anticipated to provide precise and better patient services during CDM and establish a new healthcare delivery system. Further government bodies and healthcare organizations are supporting low and middle-income countries to develop healthcare infrastructure. Acceleration in technology development in the healthcare sector is significantly affecting the development of healthcare infrastructure.
Recent Development
In April 2021, WellSky announced the launch of an advanced home health visit management solution. CareInsights Guidance is a new component that gives actionable visit utilization insights to help balance treatment quality and patient health improvement. It is expected that the debut of this solution will help their patients and employees and boost the company’s sales growth.
Some of the major market players operating in the global chronic disease management market are:
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Chronic Disease Management Market Scope
Type
Solution Type
Service Type
Disease Indication
End User
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