Complex chronic conditions refer to multiple chronic conditions occurring simultaneously in a person. These include conditions like diabetes, cancer, arthritis, COPD, Alzheimer's, and others. Factors such as rising geriatric population, increasing incidence of chronic diseases and multimorbidity has boosted demand for effective chronic condition management in the U.S. Chronic diseases account for majority of the healthcare spending in U.S. As per estimates, chronic diseases contribute to over USD 3.8 trillion in annual healthcare expenditure. Growing focus on value-based care and emphasis on quality of life of patients necessitates coordinated treatment of complex chronic conditions. This offers lucrative opportunities for stakeholders in US complex and chronic condition management market to develop innovative solutions for improving patient outcomes.
Market Dynamics:
US complex and chronic condition management market growth is driven by factors such as increasing geriatric population, rising incidence of multimorbidity, growing emphasis on value-based care and patient-centric treatment. However, high costs associated with chronic condition management and reluctance to adopt new technologies by certain providers can hamper the market growth. Development of solutions leveraging predictive analytics, emerging technologies like AI, and remote patient monitoring can offer market growth opportunities. This helps in better managing chronic conditions, and improving patient engagement and experience. Stakeholders could also focus on care coordination platforms for seamless communication between payers, providers and patients. This will help enhance efficiencies, drive down costs and facilitate value-based care delivery.
Key Features of the Study:
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