Jan 23, 2024

Transitional Care Management Services Global Market Report 2023

Major players in the transitional care management services market are Humworld Inc., Rijuven Corp., PharMerica Corporation, CareVitality, ACT Health Solutions LLC, Medsien Inc., Wellsky Corporation, Prohealth Select, Well Living Initiative (WLI), Home Health Services Ltd.

New York, June 09, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Transitional Care Management Services Global Market Report 2023" - , Care UK Limited, Genesis Healthcare Corp., MRG Health, US Acute Care Solutions, and Charter Health Care Group.The global transitional care management services market is expected to grow from $207.73 billion in 2022 to $244.04 billion in 2023 at a compound annual growth rate (CAGR) of 17.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transitional care management services market is expected to reach $459.89 billion in 2027 at a CAGR of 17.2%.The transitional care management services market includes revenues earned by entities by providing inpatient acute care services, inpatient psychiatric services, hospital outpatient observational services, long-term care services, nursing services, and inpatient rehabilitation services.The market value includes the value of related goods sold by the service provider or included within the service offering.Only goods and services traded between entities or sold to end consumers are included.Transitional care management (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. It is 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.North America was the largest region in the transitional care management services market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and 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.The main types of transitional care management services are patient TCM services, healthcare TCM services, billing TCM services, documenting TCM services, and others.Patient TCM services refer to a service provided to a patient to support a transition to a community setting.They are used for the treatment of various chronic diseases, such as cardiovascular diseases, diabetes, cancer, asthma, chronic obstructive pulmonary disorders, and others, and are used for various applications, including inpatient settings and community patient settings.The rising number of patients with chronic diseases is expected to propel the growth of the transitional care management services market going forward.Chronic illnesses are described generically as disorders that persist for a year or longer and need continuing medical treatment, impede everyday activities, or both.Chronic diseases include non-communicable diseases such as cardiovascular disease, cancer, chronic respiratory disease, and diabetes.Transitional care management (TCM) services aid in the prevention of chronic illness by ensuring patient care is not disturbed while moving from one care environment to another.Transitional care management (TCM) therapies include self-management education, discharge planning, and systematic follow-up, which can assist patients in managing chronic diseases and avoiding problems. For instance, according to a report published by the National Institutes of Health (NIH), a US-based biomedical research agency, in 2023, in the United States, the number of people aged 50 and older with at least one chronic illness is predicted to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity would rise by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Therefore, the rising number of patients with chronic diseases is driving the growth of the transitional care management services market.Product innovations are a key trend gaining popularity in the transitional care management services market.Major companies operating in the transitional care management services market are focused on innovating new solutions to sustain their position in the market.For instance, in May 2022, PharMerica Inc., a US-based healthcare company, launched the Continuing Care Transitional Care Management Program to address care gaps when residents moved from skilled nursing facilities to their homes. It includes home-based primary care and nurse hub outreach services provided by BrightSpring Health Services to facilitate a safe transition home for medically complex clients, notably those on 8 to 12 medications or those with several chronic diseases or comorbidities. This is the first program of its type to take transitional care management to the next level, ensuring that residents coming home from a skilled nursing facility have access to the full range of person-centered, hands-on treatments required to remain healthy at home.In July 2022, IL2M International Corp., a US-based Healthcare Technology holding company, merged with Aamani Healthcare Group for $51.8 million. This merger between IL2M International Corporation and Aamani Healthcare Group provides the biggest value creation opportunity for both firms’ stockholders. Aamani Healthcare Group is a US-based healthcare organization that provides transitional care and rehabilitation services to elders and handicapped people.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.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.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. 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