CHRONIC DISEASE MANAGEMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global chronic disease management market growth can be hampered due to high costs associated with managing chronic diseases through specialized programs. As global prevalence of chronic diseases like diabetes, cardiovascular diseases, and respiratory diseases increases, more patients require lifelong treatment and monitoring to manage their conditions effectively. However, setting up chronic disease management programs entails significant upfront investments in specialized equipment, training of healthcare professionals, and developing customized care plans for each patient. Moreover, actual treatment and ongoing care of patients enrolled in such programs leads to higher recurring operational expenses. With rising healthcare costs worldwide, it is challenging for governments, insurance providers, and patients to bear the financial burden of comprehensive chronic disease management programs over extended periods of time. This acts as a barrier to broader adoption of evidence-based chronic illness management practices, especially in low and middle-income countries.

Opportunity- Expansion of telehealth services

Global chronic disease management market players can witness growth opportunities due to expansion of telehealth and remote patient monitoring services. With advancements in digital health technologies, it is possible to remotely track patient vitals, symptoms, medication adherence and conduct remote consultations using tools like connected devices, mobile apps and video conferencing solutions. The use of telehealth offers improved access to healthcare without the need for in-person visits while also reducing costs for patients and providers. As patients seek more convenient care options to better manage chronic diseases from the comfort of their homes, there will be huge demand for telehealth. Market analysts predict telehealth could account for over 30% of the chronic disease management market by 2030. Leading healthcare organizations and technology companies are heavily investing in innovative virtual care solutions and remote patient monitoring platforms to tap into this promising opportunity.