Global Transitional Care Management (TCM) Services Market 2023-2030

Global Transitional Care Management (TCM) Services Market 2023-2030

Global Transitional Care Management (TCM) Services Market Size, Share & Trends Analysis Report by Service (Patient TCM Services, Healthcare TCM Services, Billing TCM Services, and Documenting TCM Services), by Disease Type (Chronic Diseases, Cardiovascular Diseases, Orthopedic Conditions, Oncology, Pediatric Conditions, and Others), and by End-User (Hospitals and Healthcare Systems, Physician Practices, Home Health Agencies, and Accountable Care Organizations (ACOs) and Managed Care Organizations (MCOs)) Forecast Period (2023-2030)

The global transitional care management (TCM) services market is anticipated to grow at a CAGR of 17.4% during the forecast period. 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. These services are 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. The rising number of patients with chronic diseases is expected to propel the growth of the TCM services market over the forecast period. For instance, according to a report published by the National Institutes of Health (NIH), the US-based biomedical research agency, in 2023, in the US, the people aged 50 and above suffers with at least 1 chronic illness, which is predicted to rise by 99.5%, from 71.5 million in 2020 to 142.6 million in 2050. Additionally, as per the sane source, the number of people with multimorbidity would rise by 91.2% from 7.8 million in 2020 to 14.9 million in 2050. TCM services prevents chronic illness by ensuring patient care is not disturbed while moving from one care environment to another. TCM therapies include self-management education, discharge planning, and systematic follow-up, which can assist patients in managing chronic diseases and avoiding problems.

Segmental Outlook

The global transitional care management (TCM) services market is segmented based on its service, disease type, and end-user. Based on the service, the market is categorized into patient TCM services, healthcare TCM services, billing TCM services, and documenting TCM services. Based on the disease type, the market is categorized into chronic diseases, cardiovascular diseases, orthopedic conditions, oncology, pediatric conditions, and others. Based on the end-user, the market is categorized into hospitals and healthcare systems, physician practices, home health agencies, accountable care organizations (ACOs), and managed care organizations (MCOs). Among the end-user, the hospitals and healthcare systems sub-segment is anticipated to witness significant growth during the forecast period owing to the increased proliferation of healthcare systems across the globe.

The Chronic Diseases Sub-Segment is Anticipated to Witness a Significant Growth During the Forecast Period

The chronic diseases sub-segment is anticipated to witness significant growth during the forecast period. The growth attributed to the increasing prevalence of chronic diseases across the globe, coupled with the rising geriatric population. Chronic diseases such as cancer, arthritis, and others require long-term care management, making TCM services crucial in providing coordinated and continuous healthcare to patients. Additionally, advancements in medical technology and treatment options contribute to the rising demand for TCM services in addressing chronic diseases. For instance, in May 2021, Geisinger introduced a virtual chronic disease monitoring system known as ConnectedCare365. This innovative system enables patients to track and manage their chronic conditions from the comfort of their homes. Using a mobile application, patients are able to monitor various health metrics such as weight, blood pressure, and glucose levels.

Regional Outlook

The global transitional care management (TCM) services market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed at a regional or country level as per requirements. Among these, the Asia-Pacific region is anticipated to hold a prominent share of the global TCM services market during the forecast period. The regional growth is primarily driven by factors such as various favorable government initiatives along with the increasing prevalence of chronic diseases among the regional population.

Global Transitional Care Management (TCM) Services Market Growth by Region 2023-2030

Source: OMR Analysis

North America is Anticipated to Hold a Significant Share of the Global Transitional Care Management (TCM) Services Market

Among all regions, North America is anticipated to hold a significant share of the global TCM services market. It is expected to account for a substantial portion of the market during the forecast period, owing to the rising prevalence of chronic diseases coupled with the increasing healthcare expenditure, and the implementation of supportive healthcare policies. For instance, according to the Commonwealth Fund, in 2021, the US spent 17.8% of the total gross domestic product (GDP) on healthcare, approximately double the average OECD country. However, the country has poorer health outcomes, including a higher likelihood of suffering from multiple chronic illnesses, dying from avoidable causes, and having a shorter life expectancy.

Market Players Outlook

The major companies serving the global transitional care management services market include Genesis HealthCare LLC, ACT Health Solutions, and PharMerica, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, funding, collaborations, and new product or services launches to stay competitive in the market. For instance, in February 2020, Genesis Healthcare entered an agreement with New Generation Health to transition the operations of 19 facilities in California, Washington, and Nevada. The transition of operational responsibility for these facilities is aimed at improving the financial performance of Genesis Healthcare. The transition of operations was completed for worth $79 million. The facilities include skilled nursing facilities and assisted living facilities. The transition of operational responsibility for these facilities is part of Genesis Healthcare's strategy to improve its financial position and chart a path for recovery. The transition of operations is expected to help Genesis Healthcare improve its financial performance and provide better care to its patients.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global transitional care management (TCM) services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market.