Population Health Management Solution Market Necessity And Demand 2018 to 2025

In the coming years, the market is expected to witness the highest growth in the Asia-Pacific region. This can be attributed to the implementation of a number of PHM programs to improve population health in Australia, growing medical tourism in Asia, rapidly growing healthcare industry in India, efforts taken to digitalize the healthcare system in China, investments and reforms to modernize China’s healthcare infrastructure, and new outline by Japan’s information and communication technology fund.

North America is expected to account for the largest share of the global market. In the U.S., the market is driven by the rising healthcare costs, growth in geriatric population, the implementation of the Affordable Care Act (ACA), increasing funding for population health management, rising prevalence of chronic diseases, and increasing number of awareness campaigns. In Canada, the growth of the market population health management is driven by the rising healthcare spending, the implementation of the population health approach by the Canadian government, and rising prevalence of chronic diseases in the country.

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Population healthcare management market is projected to witness upward growth during the forecast period due to increasing prevalence of chronic disease worldwide. Chronic disease such as cancer, cardiovascular disease, diabetes, asthma (chronic lung disease) account for the major healthcare burden annually. According to World Health Organization data in 2017, around 40 million people die each year due to chronic disease, which accounts for 70% of all deaths globally. Cardiovascular diseases is responsible for 17.7 million death annually, followed by cancers (8.8 million deaths), respiratory diseases (3.9million deaths), and diabetes (1.6 million deaths). Population healthcare management solutions provides better clinical management of this disease. Increasing number of geriatric population worldwide is expected to further propel growth of population healthcare management solutions. According to population Prospect report by United Nations in 2017, an estimated 962 million people were aged 60 or above in the world, which accounted for 13% of the global population, by 2030 number of older people in the world is projected to be 1.4 billion, which is growing at annual rate of 3%. Increasing healthcare cost is projected to drive growth of population health management market. Advancement in big data analytics are expected to fuel growth of population health management, owing to ease in management of vast data with precision in quality healthcare to individual.

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