The global care management software and services market will more than double in size to over $15.7 billion in five years time, up from $6.93 billion today, according to research by Markets and Markets.
The report, Care Management Solutions Market, predicts annual growth of 17.8% per year for the next five years.
It breaks down the sector by component (software & services), delivery mode (on-premise, web, & cloud based), end-user (provider, payer), application (chronic care management, case management) – analysis & global forecasts to 2021
It also provides analysis of the major international market drivers, restraints, challenges, and opportunities.
“The care management solutions market appears poised for growth in the forecast period owing to factors such as initiatives to shift the burden of risk from healthcare payers to providers, implementation of patient-centric mandates, growth in geriatric population and the burden of chronic diseases, necessity to curb rising healthcare costs, growth in the medical tourism sector, and advancements in IT solutions and big data capabilities,” the report’s publisher states.
Web-based care management solutions are currently the biggest sellers, but cloud-bases systems are expected to deliver the highest growth owing to the higher flexibility, scalability, and affordability offered by these solutions.