Market Research Future (MRFR) presumes that the population health management market will obtain a stunning growth rate of 22.4% between 2020 and 2027 (appraisal period).
Key Boosters and Deterrents
A number of healthcare organizations are progressively making use of big data as well as analytics resources to monitor resource usage, while detecting people that are vulnerable to various disorders. To effectively analyze patient population, these organizations focus on strengthening their data tracking ability, present in huge amounts all across the healthcare sector. Linking the population’s various health determinants and the clinical data favors proactive care, which boosts the demand for population health management solutions and systems.
Predictive analytics, machine learning, and AI have garnered massive traction in recent years, given the fact that these cutting-edge technologies help businesses remain connected to the population. Health management as a whole is experiencing notable growth, on account of the surging focus on Accountable Care Organizations (ACOs) as well as value-based payment (VBP). Moreover, the introduction of numerous disease management programs that facilitate the diagnosis and treatment of various chronic ailments will foster industry growth. Mounting healthcare expenditure across the world combined with the augmented requirement for advanced value-based healthcare all across the healthcare setting will ensure relentless market expansion in the following years.
To diversify product portfolio and enhance worldwide presence, majority of the manufacturers are taking up strategic measures such as acquisitions, agreements, new product launches, and mergers. For instance, in October 2021, Clinigence Holdings Inc., one of the biggest technology-based, risk-bearing population health management market firms in the United States, has acquired ProCare Health Inc. ProCare is a reputed management services organization that assist physician organizations in reviewing population risks, to enhance the overall performance with respect to care delivery and to offer actionable data analytics.
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The top population health management solutions developers are Cerner Corporation, Health Catalyst, UnitedHealth Group, Persivia, Koninklijke Philips N.V., International Business Machines Corporation (IBM), ZeOmega, Epic Systems Corporation, Healthagen LLC, McKesson Corporation., Optum, Inc., Allscripts Healthcare Solutions Inc., Lumeris, Conifer Health Solutions LLC., and more.
The population health management market has been segregated into component, solution, delivery mode and end-user.
The components covered in the review study include hardware, services as well as software.
Key solutions listed in the market study are data integration and management, analytics, care coordination and patient engagement, and more.
Delivery mode-wise, the major segments can be web-based, app-based, cloud-based, along with on-premise.
Government organizations, healthcare providers, healthcare payers, and others are the top industry end-users considered outlined in the MRFR report.
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The geographical dissection of the population health management industry comprises Europe, MEA/Middle East & Africa, the Americas, and Asia Pacific/APAC.
In the years to come, the Americas will most likely be the market leader, thanks to the substantial increase in the total geriatric populace, which is highly vulnerable to various chronic illnesses. The flourishing healthcare sector, strong support from the government and the favorable healthcare insurance schemes in the region also induce considerable market growth. Additional growth boosters can be the federal mandates that help cut down overall healthcare costs, surging use of EHRs, and the escalating emphasis on value-based reimbursements coupled with personalized medicines.
Europe will be capturing the second position in the global market between 2020 and 2027, on the back of the strong government support as well as the large-scale spending on the healthcare industry. The significant rise in the number of research & development activities, increasing healthcare spending with major focus on advances in technologies like AI and big data analytics will further enhance the regional industry share in the years ahead.
The Asia Pacific market shows the potential to achieve the fastest CAGR in the ensuing years, in view of the soaring cases of different chronic diseases along with the mounting healthcare investments. Government initiatives that encourage the digitalization trend in the healthcare sector and the burgeoning elderly population in China, Japan, and India will present lucrative opportunities to the companies in subsequent years.
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