Population Health Management Solution Market Expansion to be Persistent During 2018 – 2026 With Market Leaders Like Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, OptumHealth, Epic Corporation, Inc.
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Population healthcare management provides various advantages. It improves quality of healthcare due to comprehensive picture provided by collection of multiple data points on one platform with better tracking of patient. Pharmaceutical healthcare management solutions saves unnecessary healthcare cost. Also, it allows better clinical management in case of chronic disease using information technology based approaches. Healthcare management allows the healthcare provider to fill the healthcare gap i.e. lack of coordinated effort amongst stakeholder in health care, lack of effective patient monitoring etc.
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.
Key players are adopting growth strategies such as mergers and acquisitions activity in order to improve the market footprint. For instance, in August 2017, Allscripts announced to acquire McKesson Corporation’s hospital and health system IT business and Enterprise Information Solutions for US$ 185 million in cash.
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On the basis of component, the global population health management solution market is segmented into:
On the basis of medium, the global population health management solution market is segmented into:
Web based medium
Cloud based medium
On the basis of end user, the global population health management solution market is segmented into:
Ambulatory care provider
On the basis of Geography, population health management solution market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to lead the population health management system due to various reasons. U.S. currently has one of highest per capita expenditure on healthcare amounting US$ 9146 according to statistics given by World Economic Forum in 2016. This cost could be saved with the greater application of population health management solutions resulting in quality comprehensive care with reduces hospital admissions.
This would also lower the burden on health care infrastructure with shortage of physicians and hospitals beds. Furthermore, increasing number of patients with chronic disease is another driver for growth of market. According to National Cancer Institute around 1,735,350 new cases of cancer would be diagnosed in the U.S. in 2018, cancer would cause around 609,640 death in same year.
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