Population Health Management Market Overview:
The global Population Health Management Market has a chance to score past the expected valuation mark between 2018 and 2023, with an impressive CAGR of 22.4%. Market research Future documented (MRFR) all the details regarding the growth process that includes discussion on factors like its cost-effective procedures, heightened inclusion of IT cells, growing need for surveillance, government initiatives, along with private endeavors, need for efficiency to ensure improved management of the patient pool, and others.
However, the rising cost of installation of population health management platforms and concerns regarding patient data security may dampen the growth prospect of the population health management industry and the market.
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Population Health Management Market Segmentation
The study of the global population health management market depends on a proper segmentation that includes delivery mode, solution, component, and end-user. Such segmentation would provide insights that can help in the proper assessment of the market.
By component, the market report on the population health management has been segmented into software, hardware, and services. The services segment includes post-sales & maintenance services, training, consulting, & education, and others.
By solution, the market report discussing the population health management includes data integration & management, patient engagement, analytics, and care coordination. The data integration & management segment comprises real-time data exploration, financial data integration, data warehousing, clinical data integration, and others. The analytics segment has predictive analytics, point of care decision support, and others. The patient engagement segment includes multimodal communication, remote monitoring, treatment plan, monitoring & compliance, and others. The care coordination segment includes real-time alerting, care management workflow automation, care team coordination, clinical reporting, and others.
By delivery mode, the global population health management market can be segmented into cloud-based, web-based, on-premise, and app-based.
By end-user, the global market for population health management can be segmented into government organizations, healthcare payers, healthcare providers, and others.
Population Health Management Market Regional Analysis:
The Americas has the chance to helm the market as the region has several advantages in structuring the entire setup. For instance, the regional market is blessed with the presence of several top-notch players who are constantly pumping in investment to help the research and development sector perform better. In addition, the regional IT infrastructure is also well-established, which can make sure that the market gains more prominence and enjoys better connectivity. The regional market is more tilted towards North America as heavyweights like the US and Canada are impacting the market substantially.
In the European market, similar features are governing market dynamics. Easy access to IT infrastructure, better investment planning, heightened knowledge regarding the process, better healthcare infrastructure, and other procedures can make sure that the market retains its second-largest market position.
The Asia Pacific market is quite dynamic in its approach as several countries are getting out of their economic slumber and are trying to impress the market by increasing their expenditure. The list has countries like India, China, Australia, and others. Such population health management exercises are expected to get their footing from the rising demand for better patient management. A huge population and a constant surge in chronic diseases have led to space where saving time is the major talking point owing to which population health management sector is booming. In addition, the setup is getting backed by data management procedures and the inclusion of artificial intelligence and the Internet of Things.
Population Health Management Market Competitive Landscape:
Players taking strides to make an impact in the global population health management market are Cerner Corporation, Allscripts Healthcare Solutions Inc., International Business Machines Corporation (IBM), McKesson Corporation., Optum, Inc., Epic Systems Corporation, Health Catalyst., Koninklijke Philips N.V., UnitedHealth Group, Conifer Health Solutions, LLC., Healthagen LLC, Lumeris, ZeOmega, and Persivia. These companies are profiled in the report released by MRFR to facilitate an easy understanding of the way the market can warm up to changes.
In December 2019, Humana announced its collaboration with Royal Phillips about its plan to launch population health management for its members.
In December 2019, InterWell Health, with its nephrologists numbering over 650, is now ready to provide assistance through population health management to renal patients.
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