Care Management Solutions Market worth $7.3 Bn by 2018, According to a New Study on ASDReports

Thursday 18 September 2014, Amsterdam

The new report, now available on ASDReports, “Care Management Solutions Market by Component (Software & Services), Delivery Mode (On-premise, Web, & Cloud), End-user (Payer, Provider, Employer Groups, & Government Bodies) - Trends & Global Forecasts to 2018”analyzes and studies the major market drivers, threats, opportunities, and challenges in North America, Europe, Asia, and Rest of the World (RoW).

This report studies the global market over the forecast period of 2013 to 2018. This market was valued at $2.8 billion in 2013 and is poised to grow at a CAGR of 21% from 2013 to 2018, to reach $7.3 billion by 2018.

The market is segmented into four broad segments, namely, components, delivery modes, end users, and geographies. The market by component is further categorized into software and services. Based on delivery modes, the market is categorized into web-based, on-premise, and cloud-based. The market by end users is categorized into providers, payers, employer groups, and government bodies. Based on geography, the market is divided into North America, Europe, Asia, and Rest of the World (RoW: Pacific countries, Africa, and Latin America)

The major factors driving the market are the legislative reforms of Affordable Care Act (ACA) in the U.S., demand for the improved quality of care, rise in aging population, and incentives by the various governments for the adoption of HCIT and care management. The benefits provided by the CMSs such as cost reduction, reduced hospital readmission rates, enhanced worker productivity, and improved quality of healthcare are resulting in an increase in the deployment of these solutions. However,in spite of the numerous benefits of CMS certain barriers such as huge investments, lack of skilled analysts, fragmented end-user market and security of patient data are restraining the growth of this market.

The North American market commands the largest share of the global market in 2013. Europe represents the second largest market. Though the Asian market is relatively new to care management, the increasing HCIT adoption, proficiency of IT skills, and growing medical tourism in the area will drive the growth of this market.

The global care management market is a highly fragmented market with some major players such as McKesson Corporation (U.S.),Medecision, Inc. (U.S.),EXL Landa (U.S.), ZeOmega, Inc. (U.S.), HealthSmart Holdings, Inc. (U.S.),Allscripts, Inc. (U.S.), Phytel Inc. (U.S.),WellCentive, Inc. (U.S.), TriZetto Corporation (U.S.), and i2i Systems, Inc. (U.S.).