The latest market report published by Credence Research, Inc., the global market for population health management was valued at US$ 21,079.9 million in 2017 and is expected to reach US$ 81,539.8 million by 2026, increasing to CAGR by 16.3 per cent from 2018 to 2026.
Population Health Management is an organized program specifically designed to give maximum health status to patients seeking treatment for chronic diseases and to manage the financial, clinical and analytical aspects of health care in a more accurate way. The rapid growth of the IT healthcare segment and the business expansion strategies adopted by insurance companies will strengthen market growth during the forecast period. A significant increase in healthcare costs and the need to protect patient data provides a lucrative market opportunity for PHM service providers globally.
Browse the full report at “Population Health Management Market”
Health care services are the product segment of the market for population health management. Paradigm’s shift from paid services to value-based healthcare delivery drives market growth for healthcare services. Hospitals opt for services to be set up and for the assessment of patient data in the home system. The software segment is expected to grow at a rapid pace due to the increasing demand for an integrated healthcare system. The ability to manage multiple health care functions on a single platform and well managed network will provide the necessary impetus for the future development of software solutions.
Health care providers are leading the end-user segment of population health management. Inherent features such as excellent disease management with refined clinical outcomes drive market growth for healthcare providers around the world. It has taken patient-centric care and has been successful in drastically reducing the cost burden associated with healthcare. Payers are third party insurance companies which provide reimbursement of the costs incurred during treatment. Proficiency in predicting analytical skills related to population behavior and unstructured clinical outcomes will drive the healthcare payers ‘ market in the near future.
North America is the largest regional segment for population health management and holds 36% market share. The chief factors responsible for its promising growth are rising prevalence of chronic ailment and increasing financial support and monetary aid provided to healthcare segment by the government. Europe represents 32% and is holding the second position in the regional segment on account of significant rise in the number of healthcare service providers. Asia Pacific accounts for 21% share owing to the significant rise in IT-healthcare segment and rise in per capita income.
Software companies providing services pertaining to population health management are Cerner Corporation, Healthagen LLC, Health Catalyst, IBM Corporation, Koninklijke Philips N.V., Lumeris, McKesson Corporation, Persivia, Inc., ZeOmega, UnitedHealth Group.
Key Market Movements:
- Significant rise in the number of patients seeking treatment for chronic illness
- Increasing demand for IT-healthcare segment to streamline services pertaining to healthcare on a single platform
- Emerging healthcare providers possessing capability in disease management with refined clinical outcomes
By End User
- Employer Groups
By Geography Segment
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)