Population Health Management is the accumulation and analysis of patient’s data from multiple information technology resources. The management system aids in monitoring patient condition and divides the patients based on their disease or disorder. Additionally, it striking improves clinical outcomes and lowers the cost associated with treatments. The global population health management market is positioned to witness a massive CAGR of 22.4% during the forecast period between 2018 and 2023.
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It is reported in the published report by Market Research Future (MRFR), the widespread prevalence of chronic diseases that requires consistent surveillance and care, increasing support from the government, and adoption of healthcare IT are all expected to drive the market growth of population health management. However, the rising cost associated with installing population health management platforms, patient data security related concerns, and lack of consumer awareness can go on to hamper the growth of the market during the assessment period.
Market Segmentation
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.
Regional Analysis
The global population health management market is geographically segmented into the following regions: Americas, Europe, Middle East & Africa, and Asia Pacific.
The Americas is the dominating regional market in the global landscape due to various factors. This includes prevalence of chronic diseases in the old-age population, well-developed healthcare system, and favorable government regulations and policies.
The Americas is likely to dominate the population health management market owing to the rising prevalence of chronic diseases in the aging population, the presence of a well-established healthcare system, and government initiatives and favorable policies.
The European region is the second-largest market in the global population health management market. The growth in this region is centered-around increasing government funding, favorable support from the healthcare sector, growing healthcare expenditure, and expanding research and development in the healthcare industry.
Asia Pacific is reported to be the fastest-growing regional market during the forecast period due to the widespread prevalence of chronic diseases, increasing government initiatives to increase healthcare digitalization, and rising investments in the sector. With populated countries like China and India in this region facing problems with health management, this system can provide great potential opportunity for the business.
The Middle East & Africa region is projected to account for the least market share due to a highly underdeveloped healthcare industry, lack of proper medical facilities, and absence of requisite technical knowledge.
Competitive Landscape
The global population health management market boasts of various prominent and leading companies. The MRFR report identifies some of the leading companies in this market who are making a mark with their innovative bend of mind and development in healthcare population management. This includes McKesson Corporation., Cerner Corporation, Koninklijke Philips N.V., Conifer Health Solutions, LLC, International Business Machines Corporation (IBM), Allscripts Healthcare Solutions Inc., Healthagen LLC, ZeOmega, Epic Systems Corporation, Lumeris, UnitedHealth Group, Health Catalyst, Optum, Inc., and Persivia.
March 22nd, 2019, QualMetrix and Clinigence, two leading healthcare IT companies that offers advanced cloud-based platforms, announced a merger between the both to provide population health management and enable healthcare organizations to accelerate towards value-based care reimbursements.
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