Transitional Care Management Services Market (By Service: Patient TCM Services, Healthcare TCM Services, Billing TCM Services; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global transitional care management services market was estimated at USD 175.71 billion in 2021 and it is expected to surpass around USD 729.8 billion by 2030, poised to grow at a CAGR of 17.14% from 2022 to 2030.

Transitional Care Management Services Market Size 2021 to 2030

Report Highlights

  • In 2021, the patient TCM services segment dominated the market with a share of over 30.02%.
  • The billing TCM services are anticipated to register the fastest CAGR of 18.27% from 2022 to 2030. 
  • In 2021, the community settings segment accounted for the largest share of over 55.11%. 
  • In 2021, North America dominated the market with a share of over 45.07%. 
  • Asia Pacific is expected to expand at the fastest CAGR of 18.2% during the forecast period.

The growing geriatric population, rising number of diseases, injuries, and surgeries, and demand for the post-discharge facility are anticipated to contribute to healthy growth in the market. Besides, cost-effectiveness has fueled market growth. For instance, according to the rural health information hub, the U.S. is one of the major countries with a geriatric population. The country’s more than 46 million older adults (aged 65 and above) are living in the U.S. Between 2020 and 2030, the number of older people is expected to increase by almost 18 million. Besides, by 2050, the number is probable to grow to almost 90 million. This factor is expected to drive the market at a rapid pace.

The COVID-19 pandemic affected transitional care management (TCM) services in the initial phase of the pandemic as most of the population was not able to access the services due to lockdown and safety concerns. However, TCM services were offered with the help of non-face to-face (telehealth), thereby increasing the demand for telemedicine. Post-COVID-19, the market has witnessed rising demand for transitional care services, specifically from the elderly population.

Furthermore, a rising number of market players and increasing demand to improve patient care have led to the adoption of transitional care management services. PharMerica mentioned that home-based primary care has resulted in a 20% reduction in emergency room visits and a 50% reduction in hospital readmissions. Hence, TCM services are foreseen to reduce post-discharge complications and are expected to drive the demand for patient transitional care.

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 175.71 billion
Revenue Forecast by 2030 USD 729.8 billion
Growth rate from 2022 to 2030 CAGR of 17.14%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Service, end-use, region
Companies Covered

Humworld Inc.; Rijuven Corp.; PharMerica Corporation; CareVitality; ACT Health Solutions; Medsien; Wellsky; Nextgen Healthcare; Prohealth Select; Well Living Initiative (WLI)

 

Service Insights

In 2021, the patient TCM services segment dominated the market with a share of over 30.02% owing to the reduced costs in the months after the services are provided. For instance, PharMerica mentioned that home-based primary care has led to a 20% reduction in emergency room visits and a 50% reduction in hospital readmissions. Hence, TCM services are foreseen to reduce post-discharge complications and these are expected to drive the demand for patient TCM services over the forecast period.

The billing TCM services are anticipated to register the fastest CAGR of 18.27% from 2022 to 2030. The billing of TCM services is highly concentrated among healthcare TCM service providers. These TCM services focus on reviewing the patient’s discharge procedure and payment information, which includes the potential requirement for tests, treatment, and treatment follow-ups as needed.

End-use Insights

In 2021, the community settings segment accounted for the largest share of over 55.11%. Community settings include home, domiciliary, rest home, and assisted living. The community settings involve half of the post-discharge care interventions. These facilities offer an opportunity to improve patient care and quality of life while reducing the overall costs of hospital stay and reducing the chances of re-hospitalization. 

Community centers are considered a convenient option for patient recovery from life-threatening traumas, especially in the case of geriatric patients as they lower the risk of hospital readmission, reduce the complications related to the transfer of care, and improve overall patient satisfaction, thereby driving the segment.

Regional Insights

In 2021, North America dominated the market with a share of over 45.07%. The market in North America is highly competitive due to the key market players operating in this region. The growing burden of the geriatric population and the presence of well-developed healthcare facilities have created new growth opportunities for the TCM services market. In addition, the growing number of surgeries, injuries, and serious illnesses has contributed to the demand for after-care.

Asia Pacific is expected to expand at the fastest CAGR of 18.2% during the forecast period owing to the growing elderly population, rising number of surgeries, the burden of diseases, and the development of healthcare facilities in the region. The presence of developing countries such as China and India has led the market to new growth avenues in the future. For instance, in October 2021, HCAH (formerly Healthcare atHOME) launched a third transition care center in India. It is the first in North India. The transition care center by HCAH is likely to fill the healthcare gap between homes and tertiary care hospitals.

Key Players

  • Humworld Inc.
  • Rijuven Corp.
  • PharMerica Corporation
  • CareVitality
  • ACT Health Solutions
  • Medsien
  • Wellsky
  • Nextgen Healthcare
  • Prohealth Select
  • Well Living Initiative (WLI)

Market Segmentation

  • By Service Outlook
    • Patient TCM Services
      • Interactive Contact (Direct Contact, Telephone, Electronic)
      • Face-to-face Visit 
      • Non-face-to-face (Telehealth)
    • Healthcare TCM Services
      • Physicians
      • Non-Physician Practitioners
    • Billing TCM Services
    • Documenting TCM Services
    • Others
  • By End-use Outlook
    • Inpatient Settings
    • Community Settings
  • By Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Russia
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
      • Singapore
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

Report Detail

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