Monday, January 21, 2019

Population Health Management Market is Predicted to Grow at 25.2% CAGR during the Forecast Period (2018–2024)

Population Health Management Market
Industry Overview

The global population health management market is predicted to grow at 25.2% CAGR during the forecast period (2018–2024) with the market size reaching USD 76.9 billion by 2024. The driving factor for the growth of the market includes the rise in necessity to opt for cost-effective treatment options, increasing adoption of Healthcare information technology (HCIT), and disease management programs by public and private insurance providers.


Market Segmentation

1) Insight by Offering

The global population health management market by offering is categorized into:

Software
Services

The larger share of software is due to the high demand for customization of software, and the rising need of healthcare integration system. The software category is also leading the market due to the regular software upgrades and maintenance that renders the buyers to concentrate on its core business.

2) Insight by Mode of Delivery

On the basis of mode of delivery, the market is segmented into:

Cloud-Based
Web-Based
On-Premise

Among the different mode of delivery, the largest market share is of Web-based population health management due to the adoption of the web-based delivery system by healthcare providers, and also the usage of web-based delivery mode reduced the requirement of hardware and software system thereby limiting the cost of installation.

3) Insight by End User

On the basis of end user, the market is segmented into:

Healthcare Payers
Health Providers
Government Bodies
Employer Group

Healthcare providers are the major shareholder based on end user for the population health management market and are also estimated to lead based on size during the forecast period. The category’s large size is due to the advantages of population health management that diminishes the healthcare management gap primarily faced by high-risk patient population.

Industry Dynamics

1) Growth Drivers

Factors that have been acting as the driving factors for the growth of this industry are:

i. Rise in the necessity to opt for cost-effective treatment options
ii. Increasing adoption of healthcare information technology (hcit)
iii. Growing geriatric population
iv. Disease management programs by public and private insurance providers
v. Increase in the prevalence of chronic diseases requiring proper health management

2) Industry Ecosystem

North America held the largest share in the global population health management market in 2017, majorly due to factors such as increase in awareness towards the benefits of population health management, the rise in demand to reduce healthcare cost, government initiatives to offer disease management programs, and the implementation of health reform such as the affordable care act (ACA) in U.S.

Geographic Overview

North America — US, Canada, and Mexico
Europe — UK, Germany, France, Italy, Spain, and Rest of Europe
Asia Pacific — Japan, China, India, Australia, and Rest of Asia-Pacific
Rest of the World – Brazil, South Africa, Saudi Arabia, U.A.E., and Others

Europe is the second largest market in the global population health management industry, whereas Asia-Pacific is expected to witness the fastest growth during the forecast period. The growth is driven by the rising geriatric population base and increasing prevalence of chronic diseases.


Competitive Insight

The Key players in global population health management industry are: McKesson Corporation, Cerner Corporation, Health Catalyst, LLC, Wellcentive, Inc., Conifer Health Solutions, LLC, Allscripts Healthcare Solutions, Inc., Verscend Technologies, Inc., UnitedHealth Group, and IBM Corporation.

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