Chronic Disease Management Market Analysis 2023-2027: Forecast Growth Rate, Major Driver and Key Trends As Per The Business Research Company's Chronic Disease Management Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
/EIN News/ -- LONDON, Sept. 27, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Chronic Disease Management Global Market Report 2023, the global chronic disease management market is experiencing remarkable growth, poised to elevate from $6.89 billion in 2022 to $8.34 billion in 2023, marking an impressive compound annual growth rate (CAGR) of 21.0%. This growth momentum is expected to persist, propelling the market size to $17.68 billion in 2027, with a CAGR of 20.7%. A significant catalyst behind this surge is the escalating geriatric population worldwide.
Geriatric Population Driving Growth
The rise in the geriatric population, individuals aged 65 and above, is a primary driver of the chronic disease management market. This demographic group is at a higher risk of suffering from chronic illnesses, necessitating increased medical care and long-term support. According to a World Health Organization (WHO) report from October 2021, the proportion of the global population over 60 years old is projected to nearly double from 12% to 22% between 2015 and 2050. This demographic shift is expected to fuel the demand for chronic disease management solutions.
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Key Market Players And Trend
Major players in the chronic disease management market include Allscripts Healthcare Solutions Inc., ScienceSoft USA Corporation, Siemens Healthcare Private Limited, and more.
A notable trend in the market is the adoption of advanced technologies, particularly artificial intelligence (AI), in the treatment of chronic diseases. AI is enhancing early intervention and patient outcomes for conditions such as heart disease, cancer, and diabetes. For instance, Boston-based startup Biofourmis introduced Bioformis Care in February 2022, an AI-driven virtual care and digital pharmaceutical service that offers high-quality remote care to chronic disease patients. Biofourmis Care focuses on improving provider adherence to care recommendations and identifying clinical deterioration patterns for early intervention.
Regional Insights
In 2022, North America emerged as the largest region in the chronic disease management market. Asia-Pacific is projected to be the fastest-growing region during the forecast period.
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Market Segmentation
The global chronic disease management market is segmented as follows:
- By Service: Consulting Service, Implementation Service, Educational Service
- By Delivery Mode: On-Premise, Cloud-Based, Web-Based
- By Disease Type: Cardiovascular Diseases, Diabetes, Cancer, Asthma, Chronic Obstructive Pulmonary Disorders
- By End User: Providers, Payers
Chronic Disease Management Global Market Report 2023 by The Business Research Company provides insights on the chronic disease management market size, chronic disease management market segments, chronic disease management market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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https://www.thebusinessresearchcompany.com/report/chronic-kidney-disease-global-market-report
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