The demand for the global medical case management services Market in Asia-Pacific is expected to increase significantly due to increasing medical tourism in the developing economies of the region.
The medical case management services market is set for a rapid growth over the forecast period. In terms of revenue, the global medical case management services market accounted for USD 6.53 Billion in 2019 and is expected to reach USD 8.46 Billion by 2026, growing at a CAGR of 3.78%
Medical case management is a collaborative mechanism that promotes recommended treatment plans to ensure adequate medical care is given to people with disabilities, sick or injured. It is a position mostly supervised by patient advocates. It includes the preparation and coordination of health services that are important for the sustainable development of medical treatment.
Medical case management include the evaluation of care, such as a personal meeting with the patient, and support in developing, managing and implementing a health care plan with health care providers, staff member, and patient's family, and the review of clinical outcome.
Medical case management includes the assessment of the medical condition, the development and execution of a treatment plan, the coordination of medical services, the communication of medical needs to the individual, moreover it tracks patient's progress and also encourages cost-effective care.
Increased spending on treatment and medical costs control programs and increased quality of care are the major factors of the demand for medical case management services. Increase in global private and public healthcare funding coupled with rising population and the prevalence of a variety of chronic diseases are further contributing to the growth of the market. Moreover, the changing lifestyle might also account for rising adoption of advanced healthcare products and services, thereby driving the demand for the medical case management services market.
Medical case management systems help prevent unnecessary medical visits, hospital admissions and medical problems through informed patient treatment and consistent patient health monitoring. In addition to this, the costs paid for medical case management services are also partly reimbursed by insurance companies. Giving regard to the various benefits of medical case management services, the market is expected to grow at a significant CAGR from 2020 to 2026.
At present, the healthcare industry is searching for reliable technology for modern healthcare delivery. Medical case management systems are an important component of the healthcare market, which fuels the demand for more specialized healthcare products and services. Today, the rapid growth of the world's population is burdening healthcare services and healthcare systems. Excessive demands on healthcare systems might lead to unintended drug side effects. In this situation, medical case managers help avoid such mistakes by having easy access to patient records that provides specifics of drug reactions, post-surgery precautions, etc. In addition, technological advancements to improve patient care are expected to fuel the growth of the demand for medical case management services in the coming years.
Rising incidence of chronic diseases such as stroke, heart disease, cancer, and obesity is also a key factor in the development of the demand for medical case management services.
The Telephone Case Management Services segment held a dominant share in the medical case management services market in 2019 and is expected to lead in the near future, owing to increased demand for cost-effective and reliable medical intervention.
The Long-Term Disability segment maintained a leading place in the global market for medical case management services in 2019. The rise in the prevalence and incidence of chronic disease and injuries is anticipated to contribute to the development of the segment during the forecast period.
By Geography, the medical case management services market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.
North American medical case management services held the largest market share in 2019. Demand from workers' compensation and other insurance funds, national unemployment rate, federal support for medicaid and medicare, and demand from primary care physicians in the United States is anticipated to push the competition in the region.
Europe is positioned as the second-largest region due to a significant range of the healthcare coverage policy in the region. The demand for medical case management services in Asia-Pacific is expected to increase significantly due to increasing medical tourism in the developing economies of the region.
The major players in the global medical case management services market include GENEX Services Inc., Medical Case Management Group., Europ Assistance - Global Corporate Solutions., EK Health Services Inc., Axiom Medical Consulting, LLC., EagleOne Case Management Solutions, Inc., Healthcare Solutions Inc., Precyse Solutions LLC., and Managed Medical Review Organization Inc. among others.
FrequentlyAsked Questions
Increased spending on treatment and medical costs control programs and increased quality of care are the major factors of the demand for medical case management services. Increase in global private and public healthcare funding coupled with rising population and the prevalence of a variety of chronic diseases are further contributing to the growth of the market. Moreover, the changing lifestyle might also account for rising adoption of advanced healthcare products and services, thereby driving the demand for the medical case management services market. Medical case management systems help prevent unnecessary medical visits, hospital admissions and medical problems through informed patient treatment and consistent patient health monitoring. In addition to this, the costs paid for medical case management services are also partly reimbursed by insurance companies. Giving regard to the various benefits of medical case management services, the market is expected to grow at a significant CAGR from 2020 to 2026.
According to Zion Market Research, the medical case management services market is expected to generate revenue of around USD 8.46 Billion by the end of 2026, growing at a CAGR of 3.78%.
North American medical case management services held the largest market share in 2019. Demand from workers' compensation and other insurance funds, national unemployment rate, federal support for medicaid and medicare, and demand from primary care physicians in the United States is anticipated to push the competition in the region. Europe is positioned as the second-largest region due to a significant range of the healthcare coverage policy in the region. The demand for medical case management services in Asia-Pacific is expected to increase significantly due to increasing medical tourism in the developing economies of the region.
The major players in the global medical case management services market include GENEX Services Inc., Medical Case Management Group., Europ Assistance - Global Corporate Solutions., EK Health Services Inc., Axiom Medical Consulting, LLC., EagleOne Case Management Solutions, Inc., Healthcare Solutions Inc., Precyse Solutions LLC., and Managed Medical Review Organization Inc. among others.
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