FELTON, California, July 23, 2018 /PRNewswire/ --
Global Population Health Management Market is expectedto reach USD 88.9 billion by 2025. Population Health Management is the combination of patient data across many health information technology resources and a management within healthcare industry that facilitates and studies
Growing geriatric population and occurrence of chronic disease, government initiative for the deterrence of long-lasting diseases and acceptance of HCIT, and rising use of enhanced big data and IT technologies are documented as major factors of Population Health Management that are estimated to enhance the growth in the years to come. However, lack of knowledge and high cost may restrain overall market growth in the coming years. Population Health Management Market is segmented based on component, mode of delivery, end user, and region.
Services and software are the two important components of Population Health Management industry that could be explored in forecast period. software segment accounted for the largest market share of Population Health Management and is estimated to lead the overall market in coming years. Mode of delivery may on-premise, web-based, and cloud-based that could be explored in the Market in the foremost period.
The market may be categorized based on end users like government bodies, healthcare providers, employer groups, healthcare payers, and others could be explored in foremost period. the healthcare providers sector accounted for the largest market share and is estimated to continue its dominance in the coming years. This may be because of application of Hospital Readmissions Reduction Program and Affordable Care Act in the United States to lower the healthcare cost. Also, healthcare payers sector is estimated to grow at highest CAGR in the coming years. these payers are the third party entities like insurance carriers and known to be a financer or reimburse the cost of health services.
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Globally, North America accounted for the largest market share in 2016 and is estimated to lead the overall market in the coming years. The United States is a major consumer of Population Health Management in this region. This may be because of application of the affordable care act (ACA).Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.
Europe is the second largest region with significant market share. Germany is a major consumer, as rising awareness among people regarding the benefits of Population Health Management (PHM), developed healthcare infrastructure, governmental and non-governmental organizations initiative, and high occurrence of disease.
However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise, growing disposable income, government initiative for disease management using data analytics, developing healthcare infrastructure, and increasing awareness regarding PHM. The Japan and Australia are the major consumers of Population Health Management in the region.
The key players of Population Health Management Market are Verscend Technologies, Inc., Cerner Corporation, i2i Population Health, McKesson Corporation, Wellcentive Inc., Allscripts Healthcare Solutions, Inc., Health Catalyst, LLC, Healthagen, LLC., Conifer Health Solutions, LLC, OptumHealth, Epic Corporation, Inc., and IBM Corporation. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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