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Population Health Management Solution Market Projected to Grow Steadily During 2018-2026 With Top Key Players Allscripts, Cerner Corporation, Conifer Health Solutions, Healthagen, OptumHealth, Epic Corporation
Population Health Management Solution
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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.
Competitive Landscape
Some of the key players operating in the population health management solution market include Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, OptumHealth, Epic Corporation, Inc., Philips Wellcentive, eClinicalWorks, Health Catalyst, LLC, IBM Corporation, i2i Population Health, Verscend Technologies, Inc., Caradigm, and Care Evolution.
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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.
Regional Insights
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.
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