According to the latest market report published by Persistence Market Research titled “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 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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