With the continual entry of new players, the U.S. population health management solutions market is likely to witness intense competition in the years to come. The deepening rivalry between leading vendors of population health management solutions in the U.S., namely, Wellcentive, IBM, The Advisory Board Co., and McKesson, is expected to add considerably to this scenario over the next few years.
As per TMR, the U.S. market for population health management solutions held an opportunity worth US$3.4 bn in 2014. Expanding at an impressive CAGR of 23.90% over the forecast period of 2015 to 2023, the market is likely to increase to US$45.7 bn by the end of the forecast period. Although software will continue to be the main source of population health management solutions in the U.S. throughout the forecast period, the demand for services will rise at a higher CAGR of 30.30% between 2015 and 2023.
Demand for Web-based Population Health Management Solutions to Remain High
Apart from the source, the report also classifies the U.S. market for population health management solutions on the basis of the mode of operation and end user. Based on the mode of operation, the market has been categorized into web-based solutions, premise-based solutions, and cloud-based solutions. Among the three, the demand for web-based population health management solutions is greater, thanks to the increased penetration of internet across the U.S. The scenario is expected to remain so with the revenue by this segment crossing US$23.2 bn by the end of 2023.
Private insurance providers, government insurance providers, healthcare providers, medical device organizations, pharmaceuticals companies, and others, including employers, research institutes, and diagnostic and imaging centers, have emerged as the key end users of population health management solutions in this country. Healthcare providers have been registering the most prominent demand for these solutions and are expected to continue this trend over the next few years, states the research report.
Implementation of U.S. Affordable Care Act to Influence Demand for Population Health Management Solutions
“The demand for population health management solutions in the U.S. has been heavily influenced by the implementation of the U.S. Affordable Care Act (ACA),” states a researcher at TMR. As the act excludes payments for unnecessary readmissions, making hospitals financially accountable for patients up to thirty days after their discharge, it is expected to play an important role in the expansion of these solutions over the next few years in this country. Besides, the increasing base of the U.S. geriatric population and the rising incidence of chronic diseases are also projected to fuel the demand for population health management solutions here substantially in the near future.
On the other hand, the need for heavy investments for the development of a proper infrastructure is likely to limit the growth of this market to some extent in the coming years. The dearth of skilled professionals will also impact the market negatively, reports the research study.
The study presented here is based on a report by Transparency Market Research (TMR) titled “U.S. Population Health Management Solutions Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023.”
The U.S. population health management solutions market is segmented into:
By Mode of Operation
- Premise-based Population Health Management Solutions
- Cloud-based Population Health Management Solutions
- Web-based Population Health Management Solutions
By End User
- Health Care Providers
- Government Insurance Providers
- Private Insurance Providers
- Pharmaceuticals Companies
- Medical Device Organizations
- Others (employers, diagnostic and imaging centers, and research institutes)
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