Transitional Care Management Services Market Size, Trends, Growth And Outlook By 2033
Global transitional care management services market size is expected to reach $545.58 Bn by 2028 at a rate of 17.5%, segmented as by service, patient tcm services, healthcare tcm services, billing tcm services, documenting tcm services, other service
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Overview and Scope
Transitional care management TCM refers to a collection of services that assists patients in transitioning from one healthcare environment to another, such as from a hospital to a primary care physician. It is used to guarantee continuity of treatment, minimize avoidable bad outcomes, and limit possibly avoidable readmissions and medical mistakes in the 30 days following discharge from the acute care environment.
Sizing and Forecast
The transitional care management services market size has grown rapidly in recent years. It will grow from $244.04 billion in 2023 to $286.43 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to healthcare policy changes, focus on value-based care, hospital readmission reduction initiatives, collaboration among healthcare providers, patient-centered care emphasis.
The transitional care management services market size is expected to see rapid growth in the next few years. It will grow to $545.58 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to patient engagement solutions, policy support for care coordination, expanding healthcare access, data analytics and predictive modeling, patient-centered medical home models. Major trends in the forecast period include telehealth integration, emphasis on patient-centered care, increased collaboration and care coordination, remote patient monitoring technologies, focus on chronic disease management.
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Segmentation & Regional Insights
The transitional care management services market covered in this report is segmented –
1) By Service: Patient TCM Services, Healthcare TCM Services, Billing TCM Services, Documenting TCM Services, Other Services
2) By Disease Type: Cardiovascular diseases, Diabetes, Cancer, Asthma, Chronic obstructive pulmonary disorders, Other Diseases
3) By Application: Inpatient Settings, Community Settings
North America was the largest region in the transitional care management services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the transitional care management services market report during the forecast period. The regions covered in the transitional care management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising number of patients with chronic diseases is expected to propel the growth of the transitional care management services market going forward. Chronic illnesses are described generically as disorders that persist for a year or longer and need continuing medical treatment, impede everyday activities, or both. Chronic diseases include non-communicable diseases such as cardiovascular disease, cancer, chronic respiratory disease, and diabetes. Transitional care management (TCM) services aid in the prevention of chronic illness by ensuring patient care is not disturbed while moving from one care environment to another. Transitional care management (TCM) therapies include self-management education, discharge planning, and systematic follow-up, which can assist patients in managing chronic diseases and avoiding problems. For instance, according to a report published by the National Institutes of Health (NIH), a US-based biomedical research agency, in 2023, in the United States, the number of people aged 50 and older with at least one chronic illness is predicted to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity would rise by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Therefore, the rising number of patients with chronic diseases is driving the growth of the transitional care management services market.
Key Industry Players
Major companies operating in the transitional care management market are adopting strategic partnerships approach to enhance the quality of healthcare for individuals with complex health needs. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in December 2022, Superior Health Plan, a US-based managed care company partnered with MedArrive and Brave Health for a home health program. This collaboration was aimed at enhancing healthcare quality for individuals dealing with intricate health conditions. MedArrive is a US-based healthcare provider that offers mobile-integrated care management services.
The transitional care management services market report table of contents includes:
1. Executive Summary
2. Transitional Care Management Services Market Characteristics
3. Transitional Care Management Services Market Trends And Strategies
4. Transitional Care Management Services Market - Macro Economic Scenario
5. Global Transitional Care Management Services Market Size and Growth
6. Transitional Care Management Services Market Segmentation
7. Transitional Care Management Services Market Regional And Country Analysis
…………..
33. Key Mergers And Acquisitions In The Transitional Care Management Services Market
34. Transitional Care Management Services Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Transitional Care Management Services Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Transitional Care Management Services Market, Segmentation By Disease Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Transitional Care Management Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Humworld Inc. Financial Performance
Table 75: Rijuven Corp. Financial Performance
Table 76: PharMerica Corporation Financial Performance
Table 77: CareVitality Financial Performance
Table 78: ACT Health Solutions LLC Financial Performance
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