Chronic Disease Management Market Trends

Growth Drivers

• Increasing Geriatric Population with Decreased Immunity– Despite weak immune systems aging brings several other health issues that require intensive care and health monitoring of old people. So, an increase in the geriatric population is fueling the demand for chronic disease management. According to the data provided by the World Health Organization (WHO), the population of people aged 60 and up has increased from 1 billion in 2020 to 1.4 billion around the globe.
• Rise in Musculoskeletal Diseases - A collection of illnesses known together as musculoskeletal disorders affect the bones, tendons, muscles, cartilage, and other components of the musculoskeletal system. For instance, back discomfort, osteoarthritis, rheumatoid arthritis, and osteoporosis are among these disorders. Furthermore, if osteoarthritis treatment is not provided effectively, can lead to major health issues. In addition, musculoskeletal ailments are the main cause of disability worldwide. For instance, worldwide, 1.71 billion people have been suffering from musculoskeletal conditions.

Challenges

• High-Cost Associated with Chronic Diseases Treatment- Chronic diseases are long-term illnesses that need treatment for a lifetime in many cases, such as diabetes. The medications and therapy procedures for chronic diseases are very expensive such as chemotherapy in the case of cancer. HIV and AIDS also include in this category, hampering the growth of the market.
• High Initial Investments
• Lack of Trained Workforce with Cross-Functional Skills