Analysis On Population Health Management Market Size, Growth Research Report and Create opportunities for population health Services

Population Health Management Market Overview

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.

Acknowledging the phenomenal growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the population health management market is expected to reach USD 44.37 BN by 2023, registering approximately 21.2% CAGR between 2018 and 2023.

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Additional factors substantiating the market growth include the demand for value-based care delivery that resulted in shifting of a fee-for-service to a value-based payment model, implementation of programmes such as Affordable Care Act and Hospital Readmissions Reduction Program, etc. and Medicare initiatives that have been implemented to penalize unnecessary patient readmissions.

However, factors such as lack of technical expertise in the differentiation of file formats, and data sources such as paper, graphs, etc. alongside the technical issues like data collection and processing, integration of multi-point and multi-sectorial cross-channel data, etc. are impeding the market growth. Besides security concerns such as legal restrictions, data security, and privacy concerns, etc. are acting as a headwind that is restricting the market growth.

Nevertheless, the extensive demand to fill in the gap between expenditure and outcomes is expected to support the market growth over the assessment period, acting as a critical driving force to the market.

Global Population Health Management Market - Segments

MRFR has segmented its analysis into five key dynamics for the convenience of understanding;

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 - Regional analysis

The North American region accounts for the dominating market for population health management mainly due to the transition to value-based care delivery, leading to change from fee-for-service to a value-based payment model. Moreover, factors such as the high per capita health care expenditures along with the rising funds invested into R&D for the development of new technologies are supporting the growth of the market in the region.

The US backed by the regulatory changes such as implementation of Affordable Care Act, Hospital Readmissions Reduction Program, and the Medicare initiative to penalize unnecessary patient readmissions accounts for the major growth contributor to the population health management in the region.

The European region is the second-largest market for population health management which is estimated to witness extensive growth throughout the forecast period. Growing emphasis on the uptake of healthcare IT and the government financial support for R&D activities drive the market growth in the region.

The population health management market in the Asia Pacific region is emerging as one of the lucrative markets, globally. Highly populated countries such as China and India will lead the APAC market, achieving the highest benefits of PHM solutions and curtailing the potential huge healthcare expenditures.

Population Health Management Market - Competitive Analysis

The highly competitive, population health management market appears fragmented due to the presence of many well-established players having the global presence. Innovation, M&A activities, brand reinforcement, and collaboration remain the key trends for well-established players. Vendors are striving to develop customized solutions using the latest technology and clinical advances.

Key Players:

Leaders in the global population health management market include Cerner Corporation, Allscripts, Inc., Conifer Health Solutions, LLC., Wellcentive, Inc., McKesson Corporation, IBM Corporation, and Epic Corporation, Inc.

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This release was published on openPR.