Transitional Care Management Services Market : Current Analysis and Forecast (2022-2028)
Emphasis on Services (Patient TCM Services, Healthcare TCM Services, Billing TCM Services, Documenting TCM Services, and Others); End-User (Inpatient Settings and Community Settings); and Region/Country
The global transitional care management services (TCM) market was valued at USD 160 Bn in year 2020 and is expected to grow at a significant rate of around 16% during the forecast period. The quality of health outcomes for patients and care is especially improved by TCM services. The risk of hospital readmission is reduced by the transitional care services, which support the patient’s move from the hospital to the community after leaving the facility. Medical professionals are closely watched for complications or changes in their condition, which makes it more likely that new or recurring issues will be detected early and treated in an outpatient setting. Furthermore, the rising patient complexity with a growing number of comorbidities, rising frequency and incidence of cardiovascular disease, and neurovascular diseases like dementia, Alzheimer’s, etc. will drive higher demand for TCM services. For instance, according to a report from the Alzheimer’s Disease Association, in 2022, neurodegenerative diseases affect millions of people worldwide. In the United States, as many as 6.2 million people may have Alzheimer’s disease.
Humworld Inc.; Rijuven Corp.; PharMerica Corporation; CareVitality; ACT Health Solutions; Medsien, Inc.; Wellsky; NXGN Management, LLC.; ProHealth Select; and FI-Med Management, Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst services, billing TCM services category to witness fastest growth rate during the forecast period.”
Based on services, the market is segmented into patient TCM services, healthcare TCM services, billing TCM services, documenting TCM services, and others. Among them, the billing TCM services category is to witness the fastest growth rate during the forecast period. These TCM services concentrate on reviewing discharge process of patients and information related to the payment, which covers the need for tests, treatment, and any necessary follow-up care. The highly concentrated demand for billing services from healthcare providers proliferates the segment’s growth.
“Amongst end-user, the community settings held a significant share in the market in 2020.”
On the basis of end-user, the market is categorized into inpatient settings and community settings. Among these, community settings held a significant share of the market in 2020. Community settings are considered as a practical option for patients recovering from life-threatening injuries, particularly in the case of geriatric patients, as they reduce the risk of hospital readmission, ease the burdens associated with the transfer of care, and strengthen overall patient satisfaction, which will drive the segment.
“North America to hold a significant share in the market.”
For a better understanding of the market adoption of the transitional care management services industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the growing elderly population, rising healthcare expenditure, well-established healthcare infrastructure, and high income in this region are some key factors that will drive the market growth rate in this region. For instance, as per California Health Care Almanac (CHCF), California’s population is projected to increase by 20% from 2010 to 2060.
The APAC region is expected to witness the fastest growth rate during the forecast period owing to the rising number of surgeries, the development of healthcare facilities, and the burden of serious illness in the region. Also, the presence of developing countries such as China and India has led the market to new growth avenues in the future. For instance, in October 2021, HCAH (Healthcare at Home) launched a third transition care center in India.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Transitional Care Management Services Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global transitional care management services market were the three major steps undertaken to create and analyze the adoption of transitional care management services in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global transitional care management services market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the transitional care management services market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the transitional care management services market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as services and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Transitional Care Management Services Market. Further, we conducted factor analysis using dependent and independent variables such as various services and end-users of transitional care management services. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the transitional care management services market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global transitional care management services market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the transitional care management services market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global transitional care management services market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global transitional care management services market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of services and end-user in the global transitional care management services market.
The main objective of the Global Transitional Care Management Services Market Study
The current & future market trends of the global transitional care management services market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the transitional care management services market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of services and end-user.
- Define and analysis of the regulatory framework for the transitional care management services
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the transitional care management services market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Transitional Care Management Services Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
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