Population Health Management Market: Overview

Population health management (PHM) is a system where individuals are classified in groups. These practice is usually observed in healthcare sector, pharmaceutical industry, and insurance sector.  The health management system aids to maintain and improve health conditions of different groups.

Population health management is a patient friendly platform, which supports in regulating the treatment costs by providing options of cost-effective alternative options.  

Further, the platform enables service providers and payers in risk management associated with reimbursement policies. In recent few years, healthcare system has evolved to a great extent and turned out to be patient centric.

Population health management reduces risk stratification, and eases patient communication, data aggregation, and care coordination. As a whole, patient care system has improved.

Hence, use of population health management system has increased exponentially.

As per a report published by Transparency Market Research on Population Health Management Market, it is estimated that the market will chart a lucrative CAGR of 16.1% between 2017 and 2025 (forecast period). In the year 2016, the market stood at a value equivalent to US$ 18,500.0 Mn. At the predicted CAGR, the market value is anticipated to grow equivalent to US $ 69,000 mn by the end of the forecast period.

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Integration of IT Solution with Population Health Management System Has Boosted Market Growth

Further, application of population health management (PHM) system is aiding to improve both clinical care and revenue generation. Thus, care providers are extensively adopting the system.  In addition, there are various tools available, each having different functions in diverse care settings. These tools help in data collection and aids to leverage healthcare finances for patient and payers including insurers.

Penetration of IT solutions especially in business intelligence solutions and data analytics have been the key factors for advancement in the population health management market. Integration of IT solution enable car provider to monitor patients remotely, data collection, and data storage. These factors are likely to boost expansion of the global population health management market.

Moreover, growing awareness regarding benefits of personalized medicine is projected to provide significant growth opportunities for the players operating in the market during forecast period.

Besides accessibility of healthcare, PHM program ensures affordability of healthcare to the population at large. Lately, various population health management initiatives undertaken by hospital administrators and clinicians are found to be instrumental in decreasing the overall cost of hospitalization, testing new models in diseases risk management, and improving medication compliance. The rising penetration of IT in the field of healthcare is expected to fuel growth of the market in the coming years. Benefits offered by population health management systems, such as remote patient monitoring, data integration and data storage is expected to be a driving factor in the market. Rising awareness regarding the adoption of better personalized medicine is anticipated to offer significant growth opportunities for the players operating in the market in the coming years.

Application of Population Health Management Enabling Care Providers to Bridge Care Gap

Advantages of the health management can be noticed as it enable the care providers to address care gaps in patient populations suffering from chronic diseases using real-time insights. In coming years, the population health management market is likely to witness more strategic alliances among industry players during the forecast period. These collaborations will, further, proliferate the market.

The population health management system is comprised of software and hardware. Of these, the service segment accounted for dominant share in the global market in the year 2016. In recent few years, data analysis services and post-scale client services have been witnessing significant uptake among healthcare insurance companies and providers.

Various modes of operation of the population health management system make it favorable for application. And thus, it is widely adopted by professionals.

The managing system are available on-premise, cloud-based, and web-based. The web-based population health management system captured maximum share in the global population health management market in the year 2016. This is followed by cloud-based population health management solutions.

As per market analysts, there will be shift in the trend. Due to ease of use and storage facility, people are likely to incline towards cloud-based segment.

Among various end-users, products and solutions offered in the population health management market is anticipated to unleash significant opportunities to healthcare providers. Rapid adoption of various PHM tools have enabled the medical professional to improve the quality of care, profitability, and plug care management gaps by providing adequate healthcare services to patient population

During the forecast period, North America population health management market is anticipated to lead globally. Growth trajectory of the regional market will be followed by Europe market. Both these regions are witnessing substantial adoption of PHM in order to bridge the gap in healthcare services and community services, and thus, resulting in better care outcome.

Government bodies in the U.S. and the U.K. are underpinning the collaborations by private stakeholders in adoption of PHM. This, in turn, is reducing the health and financial load of chronic diseases.

Meanwhile, Asia Pacific population health management market is anticipated to be the fastest growing market. In recent years, the market has witnessed various opportunities in the population health management market. Growth of the market is attributed to approaches of government bodies to leverage population health and application of analytics tools in better care management for the regional population.

Global Population Health Management: Scope and Methodology

This report analyzes the current and future prospects of the global population health management market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.

The research is a combination of primary and secondary research. Primary research formed the bulk of the research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment and sub-segment for the period from 2017 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the global population health management market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.

A detailed qualitative analysis of factors responsible for driving and restraining the market and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global population health management market.

Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of product features of different types of population health management platforms. Additionally, market related factors such as rise in preference for cloud-based computing, prevalence of chronic diseases, projected launch of new products in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.

Population Health Management: Segmentation

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.

Based on component, the global population health management has been segmented into software, services, and hardware. The services segment is anticipated to hold a significant share of the global market during the forecast period.

In terms of mode of operation, the global population health management has been classified into web-based, cloud-based, and on-premise. The web-based segment is anticipated to dominate the market during the forecast period due to advantages such as efficient communication with stakeholders and tracking the progress of patient over multiple centers.

Based on end-user, the global population health management has been divided into health care providers, insurance providers, pharmaceutical companies, and others. Reduction in per capita health care cost is one of the benefits of PHM tools for health care providers

Population Health Management: Geographical and Competitive Dynamics

Geographically, the global population health management market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been divided into major countries from each region.

The report also profiles major players in the global population health management market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Koninklijke Philips N.V., Lumeris, Health Catalyst, McKesson Corporation, Cerner Corporation, ZeOmega, Healthagen LLC, UnitedHealth Group, International Business Machines Corporation, and Persivia.

The global population health management market has been segmented as follows:

Component

  • Software
  • Services
  • Hardware

Operation

  • Web-based
  • Cloud-based
  • On-premise

Distribution Channel

  • Health Care Providers
  • Insurance Providers
  • Pharmaceutical Companies
  • Others

Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

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