The global population health management market, as reported by Market Research Future (MRFR), in the recently published report on the same market, is anticipated to achieve a CAGR of 22.4% during the forecast period (2018-2023). Population health management is a collection of data and subsequent analysis, comprising patient’s data segmented by diseases. It helps in improving treatment procedures and reducing the cost associated with it.
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Constant need to monitor diseases and understand their evolution pattern to provide healthcare is one of the chief influencers for the global population health management market. Apart from that, the need to bridge the gap of result and expenditure is playing a crucial role in taking the market forward. This digitization process is also going to bring down time and effort spent. However, the population health management market could get held back by technical errors, strict regulations, chances of breach, and differential data sources.
MRFR’s analysis of the global population health management market is based on a segmentation by component, solution, delivery mode, and end-user. This gives a much-detailed view of the global market which would ease the implementation of strategic steps.
Based on the component, the population health management market can be segmented into hardware, software, and services. The services segment includes consulting, training & education, post-sales & maintenance services, and others.
By solution, the population health management market includes patient engagement, data integration & management, analytics, and care coordination. The data integration & management segment can be further segmented into financial data integration, clinical data integration, real-time data exploration, data warehousing, and others. The analytics segment includes predictive analytics, point of care decision support, and others. The patient engagement segment comprises multimodal communication, remote monitoring, treatment plan, monitoring & compliance, and others. The care coordination segment consists real-time alerting, care management workflow automation, care team coordination, clinical reporting, and others.
Based on the delivery mode, the population health management market includes on-premise, web-based, cloud-based, and app-based. Growing use of smartphones can give rise to the intake of the app-based segment.
By end-user, the population health management market can be segmented into government organizations, healthcare providers, healthcare payers, and others.
MRFR’s region-specific analysis of the population health management market spans across the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Technological brilliance, robust healthcare infrastructure and digitalization in the region are factors triggering the growth of the market of the Americas. The region is expected to take the lead owing to several features like government initiatives, favorable policies, and others, apart from the mentioned ones earlier. Europe’s market is quite similar to that of the Americas. The regional market is the second largest one owing to the technological percolation it is facing across countries. Government initiatives and increasing investment in research and developments are providing the market an edge to stand ahead of others and only next to the Americas.
The APAC market is getting a lot of tailwinds provided by countries such as India, China, and others. The region can emerge as the fastest growing region during the forecast period. It can give credit to the increasing digitalization, revamping healthcare sector, rising investment in healthcare sector, private and government initiatives in the healthcare sector, and rising investment capacity of the people.
The global population health management market is riding on benefits of strategies implemented by several market players such as Cerner Corporation (U.S.), Allscripts, Inc. (U.S.), McKesson Corporation (U.S.), IBM (U.S.), Conifer Health Solutions, LLC (U.S.), Epic Corporation, Inc. (U.S.), Wellcentive, Inc. (U.S.), and others. MRFR profiled these companies in the report and included their latest contributions to the market for a better understanding of the flow.
In April 2019, VirtualHealth, a name to reckon with in the population health and care management technologies, announced that their HELIOS platform received Population Health Management (PHM) Prevalidation for 2019 standards from the National Committee for Quality Assurance (NCQA). The platform will adhere to latest healthcare regulations implemented by government.
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