Population Health Management Market Overview:
Market Research Future (MRFR) has launched a new market intelligence report on the global population health management market. The report projects the global population health management market to grow at a robust CAGR of 22.4% over the forecast period from 2018 to 2023. The report provides a thorough look at the market’s probable future growth trajectory on the basis of an analysis of the market’s historical growth trajectory and leading growth drivers and restraints.
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Population health management helps make individual healthcare dispensation easier and cheaper, while also improving the chances of a successful recovery regardless of the disease, as environmental factors that can worsen the patient’s condition have been brought under control. The increasing prevalence of chronic diseases, which need constant monitoring and surveillance, is likely to be a major driver for the global Population Health Management Market Increasing adoption of healthcare IT in developing regions is also likely to be a major driver for the global population health management market over the forecast period, as IT systems increase the scope and efficiency of population health management systems massively. Increasing government support to the development of the healthcare sector is also likely to be a major driver for the global population health management market over the forecast period.
Population health management is the study of the healthcare provisions and disease prevalence patterns among a given population to make the population healthier as a group. More than treating individuals, population health management focuses on removing the factors causing diseases with a widespread prevalence and bringing about a healthier community. Social determinants of health, the result of inequal distribution of economic and other resources, are the prime target in the population health management market. Factors related to workplaces or living arrangements are studied in the population health management market and viable solutions are provided as to making the population immune from said factors.
Leading players in the global population health management market include
Allscripts Healthcare Solutions
Epic Systems Corporation
Koninklijke Philips NV
The global population health management market segmentation is done on the basis of solution, delivery mode, component, and end-user.
By component, the market includes software, hardware, and services. The services segment is narrowed down into training and education, consulting, post-sales and maintenance services, and others.
By delivery mode, the market is divided into cloud-based, on-premise, app-based, and web-based delivery modes.
By end-user, the market includes healthcare payers, healthcare providers, government organizations, and others.
By solution, the market is divided into analytics, care coordination, data integration and management, and patient engagement. Herein, the data integration and management segment is sub-segmented into real-time data exploration, clinical data integration, data warehousing, financial data integration, and others. The analytics segment divides into predictive analytics, point of care decision support, and others. The patient engagement segment narrows down into monitoring and compliance, remote monitoring, treatment plan, multimodal communication, and others. The care coordination segment comprises of clinical reporting, care management workflow automation, care team coordination, real-time alerting, and others.
Population Health Management Market – Regional analysis
The North American region accounts for the dominating market for population health management mainly due to the transition to value-based care delivery, leading to change from fee-for-service to a value-based payment model. Moreover, factors such as the high per capita health care expenditures along with the rising funds invested into R&D for the development of new technologies are supporting the growth of the market in the region.
The US backed by the regulatory changes such as implementation of Affordable Care Act, Hospital Readmissions Reduction Program, and the Medicare initiative to penalize unnecessary patient readmissions accounts for the major growth contributor to the population health management in the region.
The European region is the second-largest market for population health management which is estimated to witness extensive growth throughout the forecast period. Growing emphasis on the uptake of healthcare IT and the government financial support for R&D activities drive the market growth in the region.
The population health management market in the Asia Pacific region is emerging as one of the lucrative markets, globally. Highly populated countries such as China and India will lead the APAC market, achieving the highest benefits of PHM solutions and curtailing the potential huge healthcare expenditures.
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