The size of the European care management solutions market is predicted to be growing at a promising CAGR during the forecast period.
The care management solutions market in Europe is expected to witness rapid growth due to the growing geriatric population and chronic diseases. Also, with the introduction of measures to move the risk burden from payers to providers, care management technologies provide a way to decrease healthcare costs while also supporting government policies to encourage patient-centric care. Furthermore, technological advancements in the healthcare sector in the developed countries such as UK, Germany, France, and Spain and emerging new markets participants are most likely to accelerate the market growth.
Moreover, increasing investment and funding by the government and non-government organizations to develop the healthcare infrastructure and rising geriatric population is are projected to propel the market growth. Further, the rise of European care management is due to a centralized approach and integrated care for patients, which improves the quality of life by preventing problems with early intervention, resulting in reduced healthcare expenditures and a decreased load on healthcare payers and providers. Hence, these factors are expected to propel the growth of the care management solutions market. In Europe, the healthcare providers segment dominated the care management market over the forecast period. The segment growth is attributed to the increasing patient population base, growing patient-centric care, improving healthcare services, and rising need for faster services.
During the outbreak of SARS-COV-2, care management methods proved to be quite beneficial. They enable healthcare providers to link technologies such as electronic health records (EHR) with healthcare payer systems such as claims management and payment management. In addition, in the early months of the pandemic, demand for electronic data transmission and claims handling grew dramatically in numerous nations due to lockdowns and mobility restrictions.
However, the European care management solutions market is restricted owing to the Breach of data and loss of confidentiality, expensive implementation costs, and a constrained development environment.
This research report on the European care management solutions market has been segmented and sub-segmented into the following categories:
By Component:
By Delivery Mode:
By Application:
By End Users:
By Country:
Geographically, the European market is projected to account for a substantial share in the global market during the forecast period. The market growth in the region is majorly attributed to the advancement of the healthcare sector, availability of advanced technology, and increasing usage of information technology for patient management solutions in hospitals. The hospital segment dominated the market in Europe's growth over the forecast period. Also, the government's favorable reimbursement policies and initiatives for creating medical tourism are influencing the market growth. The countries such as Germany, France, Spain, UK, and Italy are expanding the European regional market growth with a significant market share. However, the recent global pandemic has rapidly increased the demand for care management solutions across Europe. In the regional market, the United Kingdom accounted for the largest share in the market during the previous year. Major acceptance of IT and investments for the adoption of care management solutions in the healthcare sector are propelling the market growth in the country. In addition, France, Spain, and Italy are adopting care management solutions. Italy has been rapidly affected by the SARS-COV-2 and increased demand for care management solutions.
KEY MARKET PLAYERS:
Some of the prominent companies operating in the European care management solutions market profiled in this report are Allscripts Healthcare Solutions, Inc., Casenet, LLC, Epic Systems Corporation, Medecision Inc., Cognizant Technology Solutions, Cerner Corporation, Koninklijke Philips N.V, IBM, ZeOmega Inc., and EXL Service Holdings, Inc.
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