Medical Case Management Services market set to reach US$ 4,200 mn revenues by 2021
According to Research Report Insights (RRI) report, the global market for medical case management services is expected to expand at 3% CAGR over the forecast period (2015 – 2021).
Medical case management services provide cost effective healthcare management solutions. Such services provide offer alternatives treatment modules for patients to choose the most suitable and affordable medical plan offered by healthcare providers and also makes sure that patients are given proper and timely medical care at a particular healthcare center. In 2014, the global market for medical case management service was valued at US$ 4,200 Million. The market is anticipated to witness a 3% CAGR during the forecast period. Factors such as rising healthcare expenditure in both public and private organization, higher occurrence of various disease and increasing global population are expected to influence the demand for medical case management services. In addition, increasing disorders of longevity is boosting the demand for advanced medical services and products.
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On the basis of services, the global market for medical case management services is segmented into telephonic case management service, web-based case management service, bilingual field case management service, field case management service and other healthcare services. The telephone case management service management is the largest segment, closely followed by based case management services. However, the demand bilingual field case management service is expected to grow in the near future owing to the recent growing culture of medical tourism across the globe.
Based on severity of the case, the global market for medical case management services is segmented into chronic pain case management, catastrophic case management, short-term disability, independent medical examinations, and long-term disability. The long-term disability is anticipated to the largest segment of the overall medical case management services market during the forecast period. The independent medical case management segment is projected to witness healthy CAGR during the forecast period.
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By region, the global market for medical case management services is segmented into North America, Asia Pacific, Latin America, Europe and the Middle East & Africa (MEA). North America is foreseen to be the largest market through 2021. The market in the region is driven by the increasing, technological advancements, higher healthcare expenditure, and increasing occurrence of chronic diseases. In 2015, the market in the region was valued at US$ 3,021.6 Million and expected to surpass US$ 3,586 Million by the end of 2021, witnessing a CAGR of over 2% during the forecast period. In developing countries, the demand for medical case management services is primarily driven by rising per capita income. In addition, Europe is another region expected to reflect significant business potentials for key players in the global market for medical case management services providers.
Key players operating in the global market for medical case management services include Precyse Solutions LLC., GENEX Services Inc., Europ Assistance – Global Corporate Solutions, EK Health Services Inc., Medical Case Management Group, Managed Medical Review Organization Inc., Healthcare Solutions Inc., EagleOne Case Management Solutions, Inc, and Axiom Medical Consulting, LLC,. Companies operating in the market are actively focusing on launching advanced modules of services to cater the patient requirements and needs. Medical case managers are adopting latest technologies such as predictive modeling tools, electronic health records, communication tools, and Internet-based education in order to get better access to patient’s clinical history. Thus allowing more accurate and faster diagnosis. Likewise, the clients also get better accessibility to their individual information, which helps them explain the current health condition.