Long-term Disability Management to drive Bulk of Medical Case Management Services Market Growth
Adverse socioeconomic outcomes, including poorer health, are accelerating advanced patient care management solutions
Fact.MR, Rockville MD: The global medical case management service market is expected to expand at nearly 4% CAGR through 2031, registering substantial gains in the short run too, concludes a report published by consulting firm Fact.MR. While already inclining since long, growth prospects were foreshadowed by the COVID-19 pandemic, as healthcare systems were overstretched catering to the alarming increase in infection rates.
As per Fact.MR’s report, the market made significant progress in the historical period, reaching US$ 450 million in 2017, with field case management experiencing a substantial upswing. However, new growth frontiers are likely to emerge in the long-term disability management segment. As per the World Health Organization, over 1 billion people live with disability as of December 2020, comprising 15% of the global population.
Furthermore, according to the World Bank, a fifth of the estimated global total (110-190 million) experience major disabilities. Hence, prominent service providers, such as GENEX Solutions, are offering a broad spectrum of disability management solutions. Presently, the company offers comprehensive disability services, disability medical evaluations services and integrated absence management services among others.
“Rising demand for streamlining global healthcare infrastructure to disburse high quality patient care is escalating the need for incorporating advanced medical case management services, bolstering market growth,” comments a Fact.MR analyst.
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Key Takeaways from Fact.MR’s Medical Case Management Services Market Study
- Web-based case management services are likely to acquire momentum amid growing healthcare digitization
- Hospitals to record maximum footfalls, likely to be valued at just over US$ 4 billion in the short-run
- Telephonic case management services to remain most preferred mode amongst clients
- Addressing problems associated with long-term disability to remain primary focus area
- US to emerge as a pioneer in the global medical case management services domain, attributed to a robust institutional framework
- High expenditure on chronic disease treatment to catapult medical case management services in the UK
- Germany to experience high uptake, attributed to rising demand for consolidating domestic healthcare infrastructure
- India to experience high adoption of home care medical case management services
Medical Case Management Services Market- Prominent Drivers
- Increasing geriatric population pool is stimulating demand for specialized healthcare services, thus stimulating demand
- Heightened expenditure to streamline existing healthcare infrastructure is also expanding medical case management services demand
- Rising medical tourism in developing economies for numerous chronic and infectious ailments is also bolstering demand
Medical Case Management Services Market- Key Restraints
- Limited penetration of advanced healthcare management facilities in developing regions to restrain growth
- Increased investment costs with regard to installing advanced equipment is limiting services uptake to large-scale establishments
Discover more about the medical case management services market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/74/medical-case-management-service-market
GENEX Services Inc., Agadia Inc., EK Health Services Inc., Healthcare Solutions Inc., Europ Assistance - Global Corporate Solutions, Precyse Solutions LLC., Axiom Medical Consulting, LLC, Managed Medical Review Organization Inc., and Medical Case Management Group are some prominent solutions providers profiled by Fact.MR’s extensive report.
Certain players are emphasizing on unveiling highly sophisticated management solutions so as to acquire a firm footing. For instance, in March 2021, GENEX Services Inc. announced the launch of its new specialty networks business titled Apricus. The business is expected to combine the best of the DMEplus and Priority Care Solutions, to co-ordinate and schedule durable medical equipment, diagnostic imaging, physical medicine and home health among others.
In July 2020, Agadia Inc. announced the expansion of its suite of solutions to include FormularyHub, an RxContinuum Solution TM a fully customizable, web-based tool for Formulary Benefit Management. With this introduction, the Managed Care market can leverage an effective and condensed platform to manage all the attributes of a Formulary across the healthcare domain.
More Insights on the Medical Case Management Services Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global medical case management services market. The study divulges compelling insights on the market based on mode of service (web-based, telephonic, field case management, bilingual field case management and others), end-user (hospitals and homecare settings) and severity of case (catastrophic case management, chronic pain case management, independent medical examinations, short-term disability and long-term disability) across seven major regions (North America, Latin America, Europe, APEJ, Japan, Oceania and Middle East & Africa).
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