Population Health Management Global Market Overview
Population health management system helps define the patient count based on the diseases and monitoring them. For the global health management market, nearly 21% annual growth is projected during the survey period. Demand for IT solutions and paperless management is the primary factor fuelling the growth of this market. There is also a vast demand for effective disease management services hence donation towards increasing the market share. Software-based management systems are helpful in robust clinical results and lowering the overall costs.
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A massive inflow of the patients all around the globe and managing their data can be a severe headache for the facilities. Hence there is an emphasis on installing, proving to be the best for the market. Also, providing accurate diagnosis, payments and avoiding the readmissions are also the factors responsible for the market’s growth. In certain areas, the burden of large populations and managing their data is also a challenge for the medical personnel to get accurate information about the patient’s health history and previous medical status. Maintaining the paper and file records is not only a task but also is time-consuming; health management systems are helping medical units in gaining pace and manage data effectively and efficiently.
Apart from these features, some negative points are damaging the population health management market growth rate. As this is a software-based management system, so there is always a chance of a potential leak or hacking the confidential information. Cost of installing these systems and lack of awareness can also restrain the growth to a considerable level.
Market Segments of Population Health Management
There are four segments to this market:
Component-based: Software, hardware and services are the main components of this management system.
Solution-based: Data integration, care coordination, management and analytics are the solution-based categories.
Distribution Modes: Its distribution is dome through four mediums, namely, application-based, cloud-based, web-based and on-premises.
End-Users: Payers, providers and healthcare facilities are examples of some consumers.
Population Health Management Global Market Regional Overview
Population health management system’s market observation is based on four regions:
American region: This region is the current market region, due to its awareness about adopting the latest technologies, well-established healthcare facilities and the presence of market majors. Also, there is an increase in the number of diseases and hence the number of patients. Managing broad the data has given the market a significant ground for surviving.
Europe: European region is in second place because of the faster adoption of new features, increasing demands for efficient systems, and increasing population are the critical factors for the market’s increasing share count.
Asia Pacific: Currently This region is at third place, it will be the fastest-growing market during the survey period due to increased expenditures in healthcare facilities, infrastructural developments, per capita income and massive headcount which is resulting in the increased patient count.
The Middle East & Africa: At present, this region is growing at a slow pace and will remain the same during the survey period due to lagging healthcare facilities and awareness.
Population Health Management Global Market Key Players
Some of the key players in the population health management market are Allscripts Healthcare Solutions Inc., Cerner Corporation, McKesson Corporation., International Business Machines Corporation (IBM), Epic Systems Corporation, Health Catalyst. , Optum, Inc., Conifer Health Solutions, LLC., Koninklijke Philips N.V., Lumeris, ZeOmega, Healthagen LLC, UnitedHealth Group, and Persivia.
Recent Industry News
Although, this market is gaining pace at desired rates, there are some potential challenges faced by this market, which are damaging the market growth. Being a software-based system; there is always a threat of data breach and leak of sensitive information. In this direction, companies need to take specific steps to secure the data and win the confidence of authorities and people. The Asia Pacific is the largest potential market of the future and market majors should look for potential in this market. There is a significant chance of friction provided by local vendors as they are capable of offering the same options at much cheaper rates.
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