Population Health Management (PHM) Market Poised to Reach USD 60.59 Billion, at a CAGR of 19.6% by 2024
The Global Population Health Management Market is expected to reach USD 60.59 billion in 2024, from USD 14.47 billion in 2016, growing at a CAGR of 19.6% in the forecast period 2016 to 2024.The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Population health management solutions help providers to share population health information, gain perspective, insights and act proactively to solve it. PHM solutions are used track the cost of healthcare in a year, in a particular organization. This is not a new idea but use of analytics in healthcare cost estimation is used since a long time. Though the usage of a PHM solution is today’s world can be attributed to few drivers such as access, cost, quality, lifestyle management, demand management, disease management and, care condition among others. PHM is must technology in the threatening economy, as process needs to change from providing healthcare to preventive healthcare. Estimating the major users of healthcare, chronic disease prevalence and identifying trends and proactively preventing healthcare threats will be the new goal of healthcare organization.
Global Population Health Management (PHM) Market - Segmentation:
The global PHM market is segmented based on solution types into software and services. The PHM software market is expected to dominate the market and is also expected to grow at the highest CAGR 33.7% in the forecast period.
The PHM services market is further classified into sub-segments namely consulting, implementation, training and, post sales maintenance. Based on end users the PHM market is segmented into healthcare providers, payers, private employers and government organizations.
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. U.S. is expected to dominate the market due to rising prevalence of chronic diseases, large healthcare expenditure, and paradigm shift towards value based reimbursements.
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Global Population Health Management (PHM) Market - Competitive Analysis:
The PHM market is a new need and with multiple vendors coming into the market there is no specific market leader every year. The market is concentrated on technological advancements, product launches, higher level of integration, pricing strtaegies and other market penetration models. Some of the major players in the PHM market include McKesson Corporation, ZeOmega Inc., Verisk Health Inc., Forward Health Group, Health Catalyst LLC, Athenahealth, Inc., Cerner Corporation, Medecision, Xerox Corporation, Allscripts, Inc., Fonemed Haiti SA, WellCentive, Inc., i2i Population Health, Conifer Health Solutions, LLC, GE Healthcare, Health Business Intelligence Corp, IBM Corporation, QSI Management, LLC, i2i Systems, Inc., OptumHealth, Inc., and Healthagen, LLC among others.
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Global Healthcare IT Market – Trends and Forecast to 2024
Global Healthcare IT Market, By Product (EHR, RIS, PACS, VNA, CPOE, MHealth, Telehealth, Healthcare Analytics, Supply Chain Management, Revenue Cycle Management, CRM, Claims Management, Fraud Management), By End User (Providers (Hospitals, ASC’s, Home Healthcare, Diagnostic Centers, Pharmacies), Payers (Private, Public)), By Geography (North America, Europe, Asia-Pacific, South America, Rest of the World) – Trends and Forecast to 2024
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