The global care management solutions market is projected to reach USD 19.28 billion by 2023 from USD 9.15 billion in 2018, at a CAGR of 16.1%.

Growth in the care management solutions market is mainly driven by factors such as the implementation of initiatives to shift the burden of risk from healthcare payers to providers, government initiatives and regulations promoting patient-centric care, initiatives to promote healthcare IT, and the need to reduce healthcare costs.

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On the basis of component, the care management solutions market is broadly segmented into software and services. The software segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increased adoption of software solutions by payers and providers to reduce readmissions, increase cost-effectiveness, improve operational efficiency, and enhance patient engagement.

By delivery mode, the market is segmented into on-premise and cloud-based delivery modes. The cloud-based segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed the advantages offered by cloud-based solutions such as to low installation and maintenance costs, unlimited storage of information, easy access to information from any place, and reduced spam & web threats.

On the basis of end user, the market has been segmented into payers, providers, and other end users. The providers segment is expected to expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing load on hospitals to integrate and manage patient data in a more efficient way and the growing need to improve the affordability and accessibility of healthcare services.

By application, the care management solutions market is broadly segmented into disease management, case management, utilization management, other applications. The disease management segment is expected to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the ability of these solutions to reduce the cost of care with the help of protocol management and prevent episodes of ill health through comprehensive health management.

Europe is expected to register the highest CAGR during the forecast period. The European market offers high-growth opportunities for players in the care management solutions market primarily due to the efforts made by the governments of European nations such as UK, Germany, France, Italy, and Spain to promote care coordination and quality of healthcare and introduce reforms to reduce healthcare costs by integrating HCIT solutions into healthcare.