Transitional Care Management Services Market Size, Share & Trends Analysis Report By Service (Patient TCM Services, Healthcare TCM Services, Billing TCM Services), By End-use, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Transitional Care Management Services market size was estimated at USD 176.9 billion in 2022 and is projected to hit around USD 730.6 billion by 2030, growing at a CAGR of 17.40% during the forecast period 2022 to 2030.

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Key Takeaways:

  • By Service, the U.S. Transitional Care Management Services market was valued at USD 83.9 Billion in 2021 and expected to witness growth at a CAGR of 17.8% from 2022 to 2030.
  • Based on service, the patient TCM services segment held the largest share of over 30.10% in 2021 owing to the rising geriatric population and the presence of transitional care centers. Billing TCM services are expected to register the fastest CAGR of 18.9% over the forecast period owing to the highly concentrated demand for billing services from healthcare providers
  • Based on end-use, the community settings segment accounted for the largest share of over 55.15% in 2021 as most of the patients are shifted to the community settings post-discharge. These settings are preferred for life-threatening traumas to lower the risks of hospital readmissions and reduce the complications related to patient transfer
  • In 2021, North America dominated the market with a share of over 45.10% owing to the rising elderly population, the presence of key market players in the region, and well-developed healthcare facilities
  • Asia Pacific is expected to expand at the fastest CAGR of 18.9% during the forecast period owing to the rising number of injuries and surgeries and the growing geriatric population in developing countries such as China and India

The growing burden of chronic illnesses across the globe has elevated the demand for transitional care management (TCM) services. The transitional care services offer support for the transition of the hospitalized patient to a community setting after post-facility, minimizing the risk of hospital readmission. The TCM services specifically help to improve the quality of health outcomes for patients as well as care providers. The COVID-19 pandemic has affected the market growth in the initial phase with an immediate decline in the overall transitional care visits and services. However, the post-pandemic rise was witnessed in TCM services along with demand for non-face-to-face patient TCM services. Therefore, transitional care management services are anticipated to grow at a significant pace post-pandemic. The rising geriatric population in countries such as the U.S., Italy, China, Japan, and India has contributed to the demand for transitional care management.

The growing geriatric population, rising number of diseases, injuries, and surgeries, and demand for the post-discharge facility are anticipated to contribute to healthy growth in the market. Besides, cost-effectiveness has fueled market growth. For instance, according to the rural health information hub, the U.S. is one of the major countries with a geriatric population. The country’s more than 46 million older adults (aged 65 and above) are living in the U.S. Between 2020 and 2030, the number of older people is expected to increase by almost 18 million. Besides, by 2050, the number is probable to grow to almost 90 million. This factor is expected to drive the market at a rapid pace.

Furthermore, a rising number of market players and increasing demand to improve patient care have led to the adoption of transitional care management services. PharMerica mentioned that home-based primary care has resulted in a 20% reduction in emergency room visits and a 50% reduction in hospital readmissions. Hence, TCM services are foreseen to reduce post-discharge complications and are expected to drive the demand for patient transitional care.

Report Scope of the Transitional Care Management Services Market

Report Coverage

Details

Market Size

USD 730.6 Billion by 2030

Growth Rate

CAGR of 17.40% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

Service, end-use, and Region,

Companies Mentioned

Humworld Inc.; Rijuven Corp.; PharMerica Corporation; CareVitality; ACT Health Solutions; Medsien; Wellsky; Nextgen Healthcare; Prohealth Select; Well Living Initiative (WLI)

 

Service Insights

In 2021, the patient TCM services segment dominated the market with a share of over 30.10% owing to the reduced costs in the months after the services are provided. For instance, PharMerica mentioned that home-based primary care has led to a 20% reduction in emergency room visits and a 50% reduction in hospital readmissions. Hence, TCM services are foreseen to reduce post-discharge complications and these are expected to drive the demand for patient TCM services over the forecast period.

The billing TCM services are anticipated to register the fastest CAGR of 18.9% from 2022 to 2030. The billing of TCM services is highly concentrated among healthcare TCM service providers. These TCM services focus on reviewing the patient’s discharge procedure and payment information, which includes the potential requirement for tests, treatment, and treatment follow-ups as needed.

End-use Insights

In 2021, the community settings segment accounted for the largest share of over 55.15%. Community settings include home, domiciliary, rest home, and assisted living. The community settings involve half of the post-discharge care interventions. These facilities offer an opportunity to improve patient care and quality of life while reducing the overall costs of hospital stay and reducing the chances of re-hospitalization. 

Community centers are considered a convenient option for patient recovery from life-threatening traumas, especially in the case of geriatric patients as they lower the risk of hospital readmission, reduce the complications related to the transfer of care, and improve overall patient satisfaction, thereby driving the segment.

Regional Insights

In 2021, North America dominated the market with a share of over 45.10%. The market in North America is highly competitive due to the key market players operating in this region. The growing burden of the geriatric population and the presence of well-developed healthcare facilities have created new growth opportunities for the TCM services market. In addition, the growing number of surgeries, injuries, and serious illnesses has contributed to the demand for after-care.

Asia Pacific is expected to expand at the fastest CAGR of 18.9% during the forecast period owing to the growing elderly population, rising number of surgeries, the burden of diseases, and the development of healthcare facilities in the region. 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 (formerly Healthcare atHOME) launched a third transition care center in India. It is the first in North India. The transition care center by HCAH is likely to fill the healthcare gap between homes and tertiary care hospitals.

Some of the prominent players in the Transitional Care Management Services Market include:

  • Humworld Inc.
  • Rijuven Corp.
  • PharMerica Corporation
  • CareVitality
  • ACT Health Solutions
  • Medsien
  • Wellsky
  • Nextgen Healthcare
  • Prohealth Select
  • Well Living Initiative (WLI)

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Transitional Care Management Services market

  • Service
    • Patient TCM Services
      • Interactive Contact (Direct Contact, Telephone, Electronic)
      • Face-to-face Visit 
      • Non-face-to-face (Telehealth)
    • Healthcare TCM Services
      • Physicians
      • Non-Physician Practitioners
    • Billing TCM Services
    • Documenting TCM Services
    • Others
  • End-use
    • Inpatient Settings
    • Community Settings

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Transitional Care Management Services industry analysis from 2022 to 2030 to identify the prevailing Transitional Care Management Services industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Transitional Care Management Services industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Transitional Care Management Services industry trends, key players, market segments, application areas, and market growth strategies.

Report Detail

  • Report Code:7554
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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