Chronic Disease Management Market to See 7.2% Annual Growth Through 2024
BCC Research Finds That Chronic Disease Management Grows due to Prevalence and Awareness of Chronic Illness
WELLESLEY, Mass., December 18, 2019 (Newswire.com) - The chronic disease market is fueled by superior clinical results of new drugs and biologics, increasing the trend of digital health and the U.S. Patient Protection and Affordable Care Act, according to a report by BCC Research, "Chronic Disease Management: Therapeutics, Device Technologies and Global Markets.”
The market for chronic disease management expects to see a compound annual growth rate (CAGR) of 7.2% through 2024, when it could be worth $490 billion.
Major players in the market include: Agenus, Apotex and Philosys.
· The U.S. region is projected to reach $248 billion, increasing at a CAGR of 8% by 2024.
· Europe is the second-largest market and is expected to reach $143 billion by 2024, growing at a CAGR of 6.4%.
·The Asian market of chronic disease management therapeutics and device technologies is expected to witness the highest growth through 2024.
Read the full report here: https://www.bccresearch.com/market-research/healthcare/chronic-disease-management-market-report.html
“Chronic diseases are complex in nature and need long-term treatment and care in hospitals and within home care, according to BCC Research analyst Dr. Ritu Thakur. “Home care accounts for the largest share of the chronic disease therapeutics and device technologies market, followed by hospitals and other settings.”
Therapeutics to See Continued Growth Due to Innovative Drugs and Wearable Devices
Therapeutics has witnessed significant progress in the past two decades, and the trend is expected to continue with new and innovative drugs and biologics targeting unmet needs. With recent technological advances, advanced wearable device technologies and improved treatment adherence solutions are beginning to enter the mainstream management solutions for chronic diseases, in addition to therapeutics.
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Source: BCC Research