Global Offsite Medical Case Management Market Expected to Reach US$ 5,888.5 Mn by 2026; Rising Health Care Expenditure Worldwide to Propel Market Growth: Transparency Market Research
The global offsite medical case management market was valued at US$ 4,063.2 Mn in 2017. It is projected to expand at a compounded annual growth rate (CAGR) of more than 4.2% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Offsite Medical Case Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. The report suggests that factors such as rise in adoption of offsite medical case management, growth in patient pool, increase in geriatric population, and surge in prevalence of chronic diseases and injuries are likely to boost the demand for offsite medical case management in the next few years. Advancement in technology and rise in demand for offsite medical case management among the geriatric population are expected to boost the market in North America and Europe during the forecast period. These regions are likely to account for a significant share of the global offsite medical case management market during the forecast period. In Asia Pacific, increase in government support and rise in awareness regarding offsite medical case management are projected to drive the growth of the market from 2018 to 2026.
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Rise in geriatric population worldwide
Improvement in health care reforms in Japan, the U.S., China and the U.K., has enhanced access to various medical treatment services, resulting in increased life expectancy of the people in these countries. Geriatric population is expected to increase rapidly in developed countries, such as, the U.S. and Japan. According to the U.S. Census Bureau, in 2009, around 13% of the total population of the U.S. was older than 65 years, and is estimated to grow at a rate of 20% till 2030.. According to figures published in the United Nations’ “World Population Prospects,” the global population of those aged 100 years and above would be considerably large by 2050, followed by the 85+ and 65+ age groups.
Growth in geriatric population is anticipated to boost the demand for health care products and services as elderly people are more prone to respiratory (tuberculosis and pneumonia), oral, orthopedic (osteoporosis), and cardiovascular diseases. Early diagnosis of these diseases is crucial for proper treatment. Thus, growth in aging population across the globe is expected to drive the demand for offsite medical case management services, as they require higher level of assistance and medical care.
Long-term care centers to be highly promising among end-users
In terms of end-user, the long-term care center segment is expected to hold prominent share of 35.0% of the global offsite medical case management market share in 2026. This can be attributed to the ready availability of facilities in long-term care centers, as these centers are specially designed for keeping a check on health and also for providing immediate diagnosis and treatment of diseases.
Asia Pacific market to expand significantly and create high incremental opportunity
Based on geography, the global offsite medical case management market has been divided into major five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The offsite medical case management market in Asia Pacific is projected to expand rapidly at a CAGR of 6.0%-7.0% during the forecast period due to increasing health care expenditure, adoption of new technologies, and rise in government funding in the region.
Key players likely to continue to lead global offsite medical case management market
Prominent players operating in the global offsite medical case management market are GENEX Services Inc., Europ Assistance - Global Corporate Solutions, Medical Case Management Group, EK Health Services Inc., EagleOne Case Management Solutions, Inc., Axiom Medical Consulting, LLC, Healthcare Solutions Inc., Managed Medical Review Organization Inc., NaphCare, Inc., and Optum. These companies are investing vigorously in mergers and acquisitions to expand their reach and increase their revenue. They are projected to maintain their leading position in the global offsite medical case management market during the forecast period.
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