Population Health Management (PHM) Market 2019 Trends and Dynamics with Prominent Players Profiled by MRFR |Health Catalyst. , Optum, Inc., Koninklijke Philips N.V., Lumeris, ZeOmega, Healthagen LLC, UnitedHealth Group
The population health management market is growing pervasively majorly due to the evolving healthcare IT sector. Moreover, some dominant factors such as the large developments that took place in healthcare IT such as digitization and computerization of data, increasing processing power and inter-connectivity of systems drive the market growth to an extent.
The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
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Global Population Health Management Market – Key Acquisitions
The global population health management market is currently dominated by few players. IBM is one of them by holding a strong share in the market.
IBM is a U.S. based company that manufactures and markets computer hardware and software and offers hosting and consulting services in areas ranging from mainframe computers to nanotechnology.
The prime emphasis of the company is on digital revolution by improving data, cloud, and mobile and social security. The company has entered various collaboration to expand their product portfolio and market share.
The main aim of this alliance is to help health systems to deliver value-based care to patients. IBM is also driven by its innovative product, and services. On February 21, 2017, IBM Watson launched new machine learning and artificial intelligence (AI) initiatives with special focus on population health management, advanced imaging analytics, and care coordination.
Population Health Management Market – Segments
By Components : Software and Service among others.
By Applications : Healthcare Economics & Resource Management, Healthcare Coordination & Consultancy, Clinical & Compliance Studies, and Surveillance among others.
By Delivery Modes : On-premise, Web/Cloud-based, and Mobile Based.
By End Users : Healthcare Providers, healthcare Payers, and Government organizations among others.
By Regions : North America, APAC, Europe, and Rest-of-the-World.
Population Health Management Market – Growth and Analysis
Population health management is the aggregation and analysis of patient data across multiple health domains and data resources, so as to improve both clinical and financial outcomes.
The explosive growth of healthcare data availability which includes clinical data, market data etc. is creating a new set of opportunities and challenges for healthcare industry.
Notably, extreme need to fill in the gap between expenditure and outcomes is the key factor driving the population health management market. It is observed that in the year 2012 digital healthcare data was estimated to be around 500 petabytes and is expected to reach 25,000 petabytes by 2020.
On the other hand there has been deterioration in clinical outcomes in spite of huge expenditure on healthcare. The U.S. alone spend a whopping 16% of its GDP on healthcare in 2015. Despite this huge GDP expenditure the United States doesn't even rank in the top 10 best public health care systems with countries such as Denmark ranking higher than it.
Other factors such as digitization and computerization of data coupled with the growing processing power and inter-connectivity of systems, and demand for value-based care delivery are also fuelling the growth of the market.
Despite these significant driving factors, technical errors such as differential file formats, differential data sources, and security concerns such as legal restrictions, data security and privacy concerns are expected to impede the market growth.
On considering the recent trends, it is observed that with the rise in development of healthcare sector, adoption of the advanced technology, and IT services have also been escalating.
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Global Population Health Management Market - Regional Analysis
Most of the existing market players are concentrated in the Americas owing to well-established market and high healthcare expenditures. According to the Centers for Medicare & Medicaid Services, in 2015, U.S. healthcare spending increased 5.8% reaching USD 3.2 trillion Canadian healthcare specifically was stressed by an advancing demographic move.
The increase of insurance coverage because of health care reform (Affordable Care Act, 2010) in the U. S. additionally prompted an expansion in health care spending.
The regulatory changes in the U.S. such as implementation of Affordable Care Act and Hospital Readmissions Reduction Program coupled with Medicare initiative to penalize unnecessary patient readmissions will strengthen the position of the U.S.
Some Points form Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
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