Global Medical Case Management Services Market, 2015 - 2021
Persistence Market Research
Global Medical Case Management Services Market to Account for US$ 5.1 Bn by 2021 : Persistence Market Research
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Global Medical Case Management Services Market, 2015 - 2021 Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research "Global Market Study on Medical Case Management Services: Rising Demand for Medical Tourism is Expected to Boost the Growth of Medical Case Management Services", the global medical case management services market is projected to expand at a CAGR of 3.0% during the forecast period (2015 - 2021).
Medical case management services help reduce medical healthcare cost of patients. This is because this service provides options for patients to select the best or most cost-effective medical plan offered by medical providers and ensures that patients get timely and proper medical care at an appropriate medical center. The global medical case management services market was valued at US$ 4,200 Mn in 2014 and is expected to increase to US$ 5,155.1 Mn by 2021, expanding at a CAGR of 3.0% over the forecast period.
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Private and public healthcare expenditure is rising globally, with increasing population and prevalence of various diseases. Also, changing lifestyle is responsible for the escalating demand for advanced healthcare products and services.
The report analyses the global medical case management services market in terms of market value (US$ Mn), by mode of service, the severity of the case, and end user, and provides information regarding regional market dynamics, regulations, competitive landscape, current trends, market estimations, and forecast.
Globally, North America is expected to dominate the market throughout the forecast period, driven by the rise in healthcare expenditure, technological advancements, and increase in the prevalence of chronic diseases and injuries. The medical case management services market in North America is expected to increase from its current estimated value of US$ 3,021.6 Mn in 2015 to US$ 3,586.5 Mn by 2021, expanding at a CAGR of 2.9% over the forecast period. Demand for medical case management services is expected to grow continuously over the forecast period due to improvement in employment levels, especially in developed countries. This is likely to further drive demand for case managers in the
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Global Medical Case Management Services Market, 2015 - 2021 advent of workplace injuries, as an increasing number of companies are offering employees optional cover under various medical or healthcare schemes. Europe is the subsequent lucrative destination for the medical case management services providers.
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Among the various mode of service segments, the medical case management services market finds maximum opportunity in the telephonic case management service, followed by web-based case management services. The bilingual field case management service segment is expected to gain traction in the near future due to increasing demand for medical tourism globally. Players in this market are continuously introducing newer services to enhance their service portfolio and to cater to client requirements or necessity. Medical case managers are adopting different technologies such as electronic health records, predictive modeling tools, Internet-based education and communication tools, etc. to monitor patients’ clinical history and have better access to client information. This allows for a faster and more accurate advice and diagnosis. The client also gains access to their own information to get an understanding of their current health status.
By severity of the case, the global medical case management services market is segmented into catastrophic case management, chronic pain case management, independent medical examinations, long-term disability and, short-term disability. The long-term disability segment is expected to dominate the overall medical case management services market by the end of the forecast period, i.e. by 2021. The independent medical case management segment is expected to expand at the fastest CAGR of 3.6% over the forecast period.
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Key market participants covered in the report include GENEX Services Inc., Europ Assistance - Global Corporate Solutions, EagleOne Case Management Solutions, Inc., Medical Case Management Group, EK Health Services Inc., Axiom Medical Consulting, LLC, Managed Medical Review Organization Inc., Healthcare Solutions Inc., and Precyse Solutions LLC.
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Global Medical Case Management Services Market, 2015 - 2021 The medical case management services market is segmented as follows:
By Mode of Service
Web-based Case Management Service
Telephonic Case Management Service
Field Case Management Service
Bilingual Field Case Management Service
Other Services
By Severity of Case
Catastrophic Case Management
Chronic Pain Case Management
Independent Medical Examinations
Long-term Disability
Short-term Disability
By End User
Hospitals
Home Care Settings
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By Region
North America
Latin America
Europe
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Global Medical Case Management Services Market, 2015 - 2021
Asia Pacific
The Middle East & Africa
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Market History: Medical case management services are a range of client-centered services that link clients with healthcare systems, psychosocial support, reimbursement providers, and other services. Coordination and follow-ups along with medical treatment are key components of medical case management services.
In terms of value, the global medical case management services market is estimated to expand at a CAGR of 3.0% during the forecast period. The global medical case management services market value is expected to increase to US$ 5,155.1 Mn by 2021 end.
The growth of the global medical case management services market is mainly driven by rising prevalence of geriatric population, chronic diseases, and injuries. However, lack of awareness, a high price of services, and lack of skilled professionals are factors restraining the global medical case management services market growth.
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Global Medical Case Management Services Market, 2015 - 2021
Medical case management services help to avoid expensive services by directing or advising patients regarding the most cost-effective medical care providers and eliminating services that are not medically necessary. For complex cases, medical case managers work diligently with patients, their family members, reimbursement companies, and medical care providers and evaluate medical records to determine medical necessity and patient’s health. High costs of medical case management services is a major barrier for growth of the global medical case management services market. Percentage of people having medical insurance is very less in the developing and emerging countries. Thus, they do not opt for medical case managers.
On the basis of mode of service, the market has been segmented into web-based case management service, telephonic case management service, field case management service, bilingual field case management service, and other services. The other services segment includes vocational case management, utilization review, physician advisor services, comprehensive pharmacy review, employee services, and Medicare set aside sub-segments. The telephonic case management segment is expected to account for the maximum revenue share of the global medical case management services market by 2021.
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Global Medical Case Management Services Market, 2015 - 2021
On the basis of the severity of the case, the market has been segmented into catastrophic case management, chronic pain case management, independent medical examinations, short-term disability, and long-term disability. The independent medical examinations segment is expected to register the fastest CAGR over the forecast period. On the basis of the end user, the market has been segmented into hospitals and home care settings. The hospitals segment is expected to expand at a CAGR of 3.0% over the forecast period. Medical case management services help avoid unnecessary hospital admissions, physicians visits, and medical complications by educating patients and monitoring patient health.
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Global Medical Case Management Services Market, 2015 - 2021 The global medical case management services market has been segmented into five major regions, namely North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. In terms of value, North America is estimated to dominate the market with 70.0% share of the overall medical case management services market by 2015 end. Europe is estimated to be the fastest-growing market, registering a CAGR of 3.3%, in terms of value, over the forecast period. Currently, the telephonic case management services segment is a major contributor to the medical case management services market in Europe, North America, and parts of Asia Pacific. Some of the key players identified in the global medical case management services market report include: GENEX Services Inc., EagleOne Case Management Solutions, 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. These companies are focusing towards enhancing their services portfolio through the introduction of more flexible and costeffective services to strengthen their position in the market as well to grab untapped market share. About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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