Some alarming statistics
As per a report, by NCBI, chronic diseases have accounted for around 60% of deaths and 43% of the global disease burden. 41 million people die every year from chronic illnesses, which amounts to seven out of ten deaths globally. Of these deaths, almost 17 million falls in the untimely category, i.e., people dying prematurely than expected on average. This could be avoided with better management of the illness.
Chronic Diseases – physical, mental, and emotional trauma
Any disease or medical condition which persists or has long-lasting symptoms and is caused due to genetics, lifestyle disorders, or age-related factors can be called a chronic disease. Chronic disease should not be confused with terminal illness as in the case of the latter, the health condition deteriorates with time and culminates in death. Chronic diseases may or may not find a cure, and may last several years or a lifetime but they can be effectively managed to slow down their progression and bring the symptoms under control.
Some common chronic diseases are diabetes, chronic kidney disease, functional gastrointestinal disorder, eczema, arthritis, asthma, cancer, chronic obstructive pulmonary disease, cardiovascular disease, Lyme disease, autoimmune diseases, genetic disorders, and some viral diseases such as hepatitis C and acquired immunodeficiency syndrome.
Chronic Disease Management
Any disease – chronic or otherwise – does not manifest itself in a human body on its own. It is generally influenced by virtual and real factors such as environment, lifestyle, and genetics. Chronic disease management is an integrated care approach to effective and efficacious management of illness. It includes tests, screenings, check-ups, regular monitoring, correlated treatment, and patient education- all in all, a comprehensive treatment plan.
Managing chronic illnesses require detailed attention to the following dynamics
- Full Medical History of the patient
- Current health status
- The relative impact of the health condition on other body functions or conditions
- Contraindications of medicines individually or when prescribed in combination with others
- Analysis of the patient’s lifestyle and diet
- Patient’s stress levels
- Understanding the impact of the patient’s environment on his health condition
The need for Chronic Disease Management
Chronic diseases if not managed properly can lead to severe health complications, even organ failure and loss of life. The patient can suffer not only physical distress but emotional and mental anxiety too. Timely management of diseases helps in improving the quality of life and also reducing healthcare costs. Apart from that, some diseases can be so effectively managed with personalized healthcare and lifestyle changes that the symptoms are negligibly felt.
The Current and Estimated Market Size
The Chronic Disease Management market size has been valued at approximately USD 5 billion in 2022 and is estimated to reach USD 15 billion by 2035 growing at a CAGR of 12%.
Trends positively impacting the market growth
- The surge in lifestyle disorders which include smoking, alcohol consumption, unhealthy diet, and physical inactivity
- Increasing obesity worldwide with The World Obesity Atlas 2022, predicting that one billion people globally will be living with obesity by 2030
- Artificial Intelligence and drug discovery have made significant advances in the medical field
- Breakthrough therapies have been developed for various chronic diseases
- Digital healthcare provides cloud-based software solutions and digital therapeutics for the effective management of chronic diseases.
- The growing geriatric population globally needs optimized healthcare management.
- Strategic initiatives by market players in the form of mergers, collaborations, and acquisitions are also boosting the market.
Trends negatively impacting the market growth
- Lack of awareness regarding timely disease management.
- High cost associated with it.
- The dearth of trained workforce with different medical expertise.
Global Chronic Disease Management Market Regional Analysis
- North America is projected to hold the maximum share of the market in the coming decade. The Centers for Disease Control and Prevention (CDC) has estimated that sixty percent of adults in the United States currently live with at least one chronic disease such as cancer, heart disease, or diabetes and 42 percent have more than one. Chronic diseases are among the leading causes of death in the United States. Heart disease and cancer account for around 38 percent of it. People in this country have a high tendency of lifestyle disorders. Around 23.7 percent of the population aged six years and above engaged in no outdoor activity as in 2021. The CDC 2021 Adult Obesity Prevalence Report stated that all states and territories in the U.S. had more than 20% of adults with obesity. A CDC report also stated that an estimated 12.5% (30.8 million) of U.S. adults currently smoked cigarettes in 2020.
Apart from that, the rising disposable income, growing awareness among people in the American region regarding chronic disease management and the presence of advanced health infrastructure are the major factors contributing towards market growth.
- Asia Pacific also shows a lot of potential with the growing geriatric population in China, Japan, and Singapore.
As per a study, approximately 80% of deaths in China in people aged 60 years and above are from chronic non communicable diseases such as Ischemic Heart Disease, Stroke, Chronic Obstructive Pulmonary Disease (COPD), and Type 2 Diabetes. The country is focusing to provide effective disease management services to older adults and other patients suffering from chronic illnesses.
The chronic disease management system in Singapore is very robust. The Ministry of Health launched the Chronic Disease Management Programme (CDMP) in 2006. It provided an infrastructure for chronic disease treatments to be paid for by the Medisave insurance program, a national medical savings scheme required for Singaporeans to help pay for subsidized healthcare. A few private local companies such as Healint and myHealth Sentinel are promoting the use of technology in chronic disease management.
The Japan Chronic Disease Self-Management Association (J-CDSMA) does not provide disease management services but creates a support network for chronic disease management in the nation by offering workshops that encourage chronically ill patients to communicate and empathize with each other and create individualized action plans.
- In Europe, 85% of deaths are due to chronic diseases including cancer, cardiovascular disease, chronic respiratory disease, diabetes, and mental illness. Treatment of chronic diseases is highly expensive, with healthcare costs currently standing between 7% and 11% of overall GDP expenditure. Hence, effective chronic disease management solutions are being deployed to help alleviate the burden of chronic diseases on national budgets.
The prominent players in the chronic disease management market
The major companies operating in the chronic disease management market are as follows-WellSky, Cedar Gate Technologies, Pegasystems Inc., Koninklijke Philips N.V, Altruista Health, Cognizant TriZetto Software Group Inc, Infosys Ltd, Hinduja Global Solutions Ltd., and others.
- WellSky has entered into a partnership with Panoramic Health, to provide higher quality and cost-effective care to patients living with chronic kidney disease (CKD) and end-stage renal disease (ESRD).
- Pegasystems Inc. has collaborated with MCG Health, to enhance the care experience for patients with chronic conditions and also facilitate care management teams to achieve better patient outcomes. MCG’s chronic care guidelines will be available within the Pega Care Management Application, enabling direct integration of these guidelines with care management systems.
- Cedar Gate Technologies (Cedar Gate) has launched its unified data lake that delivers a 360-degree view of patient health and utilization at both the population and individual levels. Cedar Gate’s singular data lake will provide a comprehensive value-based care platform, supporting the pursuit of any payment model across the value-based care continuum for payers, providers, employers, and healthcare benefits administrators.
The world population cannot withhold the aging process. Moreover, lifestyle and behavioral disorders also cannot be eradicated in spite of widespread awareness. Hence, chronic illnesses have to be effectively and efficiently taken care of to reduce the implication and keep lives comfortably livable. With proper medical support and network-based solutions, it can be easily achieved. In a nutshell, the chronic disease management market shows a lot of revenue-generating prospects for market players and investors together.