Population Health Management Solutions Market Worth 58.11 Billion USD By 2023

Meticulous Research™ – leading global market research company published a research report titled “Population Health Management Solutions (PHM) Market by Component (Software, Service), Mode of Delivery (Web based, On premise, Cloud) & End User (Hospital, Clinic, Payor, Employer, Government, ACO) – Global Opportunity Analysis & Industry Forecast to 2023”.

According to this latest publication from Meticulous Research™, the global population health management solutions market will grow at a CAGR of 24.0% from 2018 to 2023 to reach USD 58.11 billion by 2023, driven by factors such as rising aging population & burden of chronic diseases, continued pressure to limit rising healthcare costs, growing demand to improve care quality, the implementation of Affordable Care Act in the U.S., trend towards value-based care, growing digitization in emerging countries, increasing awareness about PHM, improving HCIT infrastructure and adoption of HCIT solutions such as EMRs and HIE, increasing focus on personalized medicine, advancing IT & big data capabilities, government support for connected care, and proliferating accountable care organizations (ACO). Moreover, increasing consolidation in healthcare industry and emerging economies provide a significant growth opportunity for this market.

However, patient data privacy and confidentiality issues, lack of data management capacities, and reluctance to migrate from conventional systems may hinder the growth of the global population health management solutions market to some extent.

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The global population health management solutions market is mainly segmented by component (software and services), mode of delivery (web-based, on-premise, and cloud-based), end-user (healthcare providers, healthcare payers, employer groups, and government bodies), and geography.

On the basis of component, software commanded the largest share in the global population health management solutions market in 2017, primarily due to growing adoption of web-based and cloud-based PHM models that are more flexible, cost-effective, agile, and scalable.

Based on the mode of delivery, web-based models held the largest share in the global population health management solutions market in 2017. This is mainly attributed to the advantages offered by the model such as minimal server requirements and low upfront installation costs.

On the basis of end-user, healthcare providers held the largest share in the global population health management solutions market in 2017. This is mainly attributed to the implementation of the ACA in the U.S., growing demand for outcome-based care, pay-for-performance arrangements, and significant adoption of EHR by the hospitals, physician practices and other healthcare providers.

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Geographically, this market is segmented into North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America commanded the largest share in the global population health management solutions market in 2017, followed by Europe. However, Asia-Pacific and Latin America regions are expected to witness significant growth during the forecast period due to factors such as the growing medical tourism in Asia, rapidly growing healthcare industry in India, efforts taken to digitalize the healthcare system in India and China, investments and reforms to modernize China’s healthcare infrastructure, favorable government initiatives in Japan, implementation of a number of PHM programs to improve population health in Australia, and improving HCIT infrastructure across APAC.

The key players in the global population health management solutions market are Koninklijke Philips N.V. (The Netherlands), Cerner Corporation (U.S.), McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Healthagen, LLC. (U.S.), Optum (U.S.), IBM Corporation (U.S.), Conifer Health Solutions, LLC (U.S.), Health Catalyst, LLC (U.S.), i2i Population Health (U.S.), Verscend Technologies, Inc. (U.S.), Accenture plc (Ireland), and Deloitte Touche Tohmatsu Limited (U.S.), among others.

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