Transitional Care Management Services Global Market Report 2024

The transitional care management services market size has grown rapidly in recent years. It will grow from $244.04 billion in 2023 to $286.43 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The observed growth in the historic period within the realm of transitional care management can be primarily attributed to several key factors. These include changes in healthcare policies that influenced care delivery, an increased emphasis on value-based care models that prioritize better patient outcomes, initiatives aimed at reducing hospital readmissions, collaborative efforts among healthcare providers, and a heightened focus on patient-centered care approaches. These elements collectively contributed to the growth and development of transitional care management during the historic period. The evolving healthcare landscape, driven by policy changes and a shift towards value-based care, alongside collaborative initiatives focusing on patient-centric approaches, significantly influenced the advancement of transitional care practices.

The transitional care management services market size is expected to see rapid growth in the next few years. It will grow to $545.58 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The anticipated growth in the forecast period within the domain of transitional care management is expected to be influenced by several key factors. These include the adoption of patient engagement solutions, supportive policies promoting care coordination, efforts aimed at expanding healthcare access, utilization of data analytics and predictive modeling, and the implementation of patient-centered medical home models. Major trends expected in this period involve the integration of telehealth services, a continued emphasis on patient-centered care approaches, increased collaboration and coordination among healthcare entities, the incorporation of remote patient monitoring technologies, and a heightened focus on managing chronic diseases effectively. These trends are projected to shape and drive the growth trajectory of transitional care management in the forecasted period, driven by advancements in technology, evolving care models, and a greater focus on improving patient outcomes and healthcare accessibility.

The projected increase in patients with chronic diseases is anticipated to drive the expansion of the market for transitional care management services. Chronic illnesses, encompassing conditions such as cardiovascular disease, cancer, chronic respiratory disease, and diabetes, persist for a year or longer, demanding ongoing medical attention. Transitional care management (TCM) services play a vital role in preventing disruptions in patient care during transitions between healthcare settings. These services, including self-management education, discharge planning, and systematic follow-up, are instrumental in assisting patients in managing chronic diseases and averting complications. As of 2023, the National Institutes of Health (NIH) report forecasts a 99.5% rise in individuals aged 50 and older with at least one chronic illness in the United States, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity is expected to increase by 91.16%, from 7.8304 million in 2020 to 14.968 million in 2050.

The growth of the transitional care management market is expected to be propelled by the increasing number of surgical procedures. Surgery, involving invasive procedures to alter or repair the human body, often requires ongoing coordination and care management during transitional phases. Transitional care management (TCM) is particularly relevant in various surgical specialties such as plastic, orthopedics, and cardiology. In 2021, The Aesthetic Society reported a substantial 54% increase in plastic surgical procedures in the United States. On average, plastic surgeons conducted 320 surgeries in 2021, a significant upturn from the 220 surgeries performed in 2020.

Product innovation stands out as a prominent trend shaping the landscape of the transitional care management services market. Leading companies in this sector are dedicating efforts to introducing novel solutions to fortify their market standing. A notable example is PharMerica Inc., a healthcare company based in the United States, which unveiled the Continuing Care Transitional Care Management Program in May 2022. This program specifically addresses care gaps encountered by individuals transitioning from skilled nursing facilities to their homes. It incorporates home-based primary care and nurse hub outreach services provided by BrightSpring Health Services. This innovative approach ensures a secure transition home for medically complex clients, particularly those with multiple medications, chronic diseases, or comorbidities. The program is a pioneering initiative elevating transitional care management to a new level, ensuring comprehensive and person-centered treatments for residents returning home from skilled nursing facilities.

Major players in the transitional care management market are increasingly adopting a strategic partnerships approach to elevate the quality of healthcare services for individuals with complex health needs. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. In December 2022, Superior Health Plan, a managed care company based in the United States, collaborated with MedArrive and Brave Health to establish a home health program. This strategic partnership aimed to enhance the quality of healthcare services for individuals dealing with intricate health conditions. MedArrive, a US-based healthcare provider specializing in mobile-integrated care management services, contributed its expertise to this collaborative effort.

In July 2022, IL2M International Corp., a US-based Healthcare Technology holding company, completed a merger with Aamani Healthcare Group for a substantial amount of $51.8 million. This strategic merger between IL2M International Corporation and Aamani Healthcare Group represents a significant value-creation opportunity for both entities' stockholders. Aamani Healthcare Group, a US-based healthcare organization, specializes in providing transitional care and rehabilitation services for elderly and handicapped individuals. This strategic move reflects a commitment to enhancing capabilities and expanding offerings in the transitional care management sector.

Major companies operating in the transitional care management services market report are Humworld Inc., Rijuven Corp., PharMerica Corporation, CareVitality, ACT Health Solutions LLC, Medsien Inc., Wellsky Corporation, Prohealth Select, Well Living Initiative, Care UK Limited, Genesis Healthcare Corp., MRG Health Inc., US Acute Care Solutions, Charter Health Care Group, Amedisys Inc., Kindred Healthcare LLC, National HealthCare Corporation, LHC Group Inc., Brookdale Senior Living Inc., Encompass Health Corporation, HCR ManorCare Inc., PruittHealth, Consulate Health Care, Signature Healthcare LLC, Life Care Services LLC, Sunrise Senior Living LLC, Five Star Senior Living Inc., Senior Lifestyle Corporation, Holiday Retirement, Erickson Living Management LLC, The Ensign Group Inc., Diversicare Healthcare Services Inc., Saber Healthcare Group LLC, SavaSeniorCare LLC.

North America was the largest region in the transitional care management services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the transitional care management services market report during the forecast period. The regions covered in the transitional care management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the transitional care management services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of transitional care management services encompass patient TCM services, healthcare TCM services, billing TCM services, documenting TCM services, and others. Patient TCM services are specifically tailored to assist patients in transitioning to community settings. These services cater to managing various chronic conditions such as cardiovascular diseases, diabetes, cancer, asthma, chronic obstructive pulmonary disorders, among others. They find application in diverse healthcare settings, including inpatient facilities and community-based patient care environments.

The transitional care management services market research report is one of a series of new reports that provides transitional care management services market statistics, including transitional care management services industry global market size, regional shares, competitors with a transitional care management services market share, detailed transitional care management services market segments, market trends, and opportunities, and any further data you may need to thrive in the transitional care management services industry. This transitional care management services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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