Population health management (PHM) is a methodical and transparent delivery of services to improve the health status of a given population at a prospective price and to deliver better outcomes at lower cost. PHM programs are designed to keep defined patient populations, especially those with high-risk diseases, as healthy as possible while decreasing the need for costly interventions such as emergency department visits, hospitalizations, and invasive tests and procedures. The PHM services segment (by type of source) and the cloud-based population health management systems segment (by mode of operation) are likely to record fastest growth due to the upward trend in health IT adoption in the U.S. Moreover, the PHM software segment would spearhead the growth of cloud-based PHM solutions in the near future. The population health management solutions market in the U.S. was valued at US$ 3.4 Bn in 2014 and is projected to reach US$ 45.7 Bn by 2023, expanding at a CAGR of 23.9% during the forecast period.
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A rise in chronic ailments and aging population in the U.S. have emerged as major factors spurring demand from the population health management (PHM) solutions market in the U.S. In a report, titled “U.S. Population Health Management Solutions Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023,” Transparency Market Research has aimed to provide comprehensive insights into the various factors influencing the market’s growth trajectory. The report also includes a holistic analysis of various restraints that could hamper the market’s growthAccording to the report, the U.S. population health management solutions market stood at US$3.4 bn in 2014. Exhibiting CAGR at an impressive rate of 23.9% between 2015 and 2023, the market is expected to reach US$45.7 bn by the end of 2023.
Population health management refers to the methodical and transparent delivery of services aimed at improving the health status of a given demography. PHM solutions focus on delivering better outcomes at lower costs. These programs are designed to aid in keeping patients defined to be in high-disease risk as healthy as possible. It achieves its aim by reducing the need for costly interventions such as hospitalizations, emergency department visits, and invasive diagnosis and procedures.
The market for population health management solutions has been considerably gaining from exceptional growth opportunities in the U.S. The country has been at the fore of adopting novel solutions in healthcare IT, thus bolstering the prospects of the PHM software segment. Consequently, growth opportunities for cloud-based PHM solutions seem quite promising in the U.S. Cloud-based PHM has also emerged as the fastest growing segment in the market in terms of mode of operations.
Based on source, the PHM services segment is poised to report higher CAGR than the software segment. In terms of mode of operations, cloud-based PHM systems have emerged as the fastest growing segment in the market. Moreover, the increasing uptake of IT by healthcare providers and pharmaceutical companies and the increasing demand for advanced health management solution will give significant impetus to the cloud-based PHM systems.
The PHM solutions market in the U.S. is majorly driven by the increasing disease burden on the country’s health systems. The demographic transition witnessed in the country is aggravating the concern further. The use of PHM tools is therefore considered essential to facilitate database management. These tools will help in monitoring and comparing results of treatment administered to the population group under study.
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Some of the major companies operating in the market are also profiled in the report. These include Conifer Health Solutions, Caradigm, Healthagen, LLC, Health Catalyst, Persivia, Premier, Inc., International Business Machines (IBM) Corporation, and others. Most of these companies are focusing on innovations by developing novel software and services, besides improving the existing ones. These enterprises also focus on keeping pace with the latest advances to maintain their market share.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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