by The global Collaborative Care Model Market is estimated to be valued at US$ 1971.1Mn in 2023 and is expected to exhibit a CAGR of 15.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The collaborative care model involves a multidisciplinary approach where primary care providers, care managers, and psychiatric specialists work together to provide integrated and coordinated care for behavioral and physical health issues. It aims to treat both medical and behavioral health conditions simultaneously. This model is beneficial for the treatment of chronic conditions like diabetes, cardiovascular diseases, and cancer where behavioral and lifestyle factors play a major role. It enhances care coordination and increases access to behavioral healthcare specialists.
Market key trends:
One of the major trends in the collaborative care model market is growing prevalence of chronic diseases where behavioral health plays a significant role. According to WHO, chronic diseases are estimated to account for over 70% of all deaths worldwide. Chronic conditions require long-term management involving lifestyle and behavioral changes. The collaborative care model effectively addresses these challenges through its multidisciplinary approach. Additionally, rising focus on value-based and integrated health models is also driving the adoption of collaborative care across various healthcare organizations and facilities. Growing medical costs are prompting providers to implement cost-effective collaborative models for high-quality chronic and behavioral disease management.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the collaborative care model market requires significant investment and expertise to establish operations.
Bargaining power of buyers: The bargaining power of buyers is high as there are many established players providing collaborative care model solutions. Buyers can negotiate on price and switch between vendors.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers providing healthcare IT solutions and services required for collaborative care models.
Threat of new substitutes: The threat of substitutes is low as there are limited alternatives that can provide the integrated approach of collaborative care models.
Competitive rivalry: High due to presence of numerous players competing on basis of product offerings, pricing and service quality.
Key Takeaways
The Global Collaborative Care Model Market Demand is expected to witness high growth, exhibiting CAGR of 15% over the forecast period, due to increasing need to curb rising healthcare costs through improved care coordination.
North America is expected to dominate the collaborative care model market during the forecast period. This is attributed to rising prevalence of chronic disorders, growing geriatric population and increasing focus on patient-centric healthcare delivery models in the region.
Key players operating in the collaborative care model market are Cosmax Group, Cisco Systems, Microsoft Corporation, IBM, Jive Software, AGNITY Healthcare, Uniphy Health Holding, Everbridge, PerfectServe, and Vocera Communications. Cisco Systems offers secure, interoperable communication solutions that help healthcare organizations implement collaborative care models efficiently. Jive Software provides secure collaboration platforms for physicians, nurses, and other healthcare staff involved in patient care.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
