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Albany, New york, July 23, 2019 (GLOBE NEWSWIRE) -- The revenue generated by global population health management market stood at S$ 18,500.0 Mn in 2016 and is likely to touch valuation of US$ 69,000.0 Mn by the end of 2025. The global Population Health Management Market is likely to expand at 16.1% CAGR during the course of forecast period from 2017 till 2025.
With booming population across the globe, the need to understand population dynamics, health conditions, economic status, and other basic information has grown largely. Government and other private organizations are making significant efforts to keep a record of all these information and provide solution accordingly. Moreover, with increasing incidence of chronic diseases, accidents, and other diseases, it is highly important to provide better and advanced health care services. In this scenario, population health management service comes handy, as it helps in analyzing and recoding healthcare data of the masses and then providing solution individually.
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Population health management program keeps record of patient population having high risk and reduces costly interventions like invasive tests and procedures, hospitalizations, and emergency department visits. Another major aspect of population health management is the service of providing information in real-time basis to clinicians and administration. This helps authorities in identifying current situation of the patient and helps in minimizing care management gap within risk patient population. Special focus on improved medications, cost management, and patient self-management are the key tools in the population health management service.
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Aim to provide best facilities by leveraging advanced technologies is triggering demand in the global population health management market. As this system helps in getting patient’s clinical information, which is further used by patients to get clinical record without any stretch. Moreover, growing need to manage the healthcare management is driving growth in the global population health management market. Additionally, high demand for population health models by the accountable care associations are also supporting growth in this market. Big data and implementation of patient protection and affordable act in the U.S. are other factors boosting growth in the population health management market.
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North America is a major market for population health management, followed by Europe. Adoption rate of PHM platforms in the U.S., the U.K., and Germany is high as compared to the rest of the world due to high awareness among the people about the benefits of PHM, targeted efforts of government and non-governmental organizations toward chronic disease management, developed health care infrastructure, and high prevalence of the disease. The population health management market in Asia Pacific is growing at a rapid pace. Developed countries such as Australia and Japan are the major markets for population health management. Increase in disposable income, rise in awareness about PHM, and surge in government initiatives for disease management with the help of data analytics drive the market in Asia Pacific. The market in Latin America and Middle East & Africa is at a nascent stage and is expected to witness strong growth during the forecast period.
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Key players in the global population health management market include Koninklijke Philips N.V., Lumeris, Health Catalyst, McKesson Corporation, Cerner Corporation, ZeOmega, Healthagen LLC, UnitedHealth Group, International Business Machines Corporation, and Persivia.
This review is based on the findings of a TMR report titled “Population Health Management Market (Component - Software, Services, Hardware; Mode of Operation - Web-based, Cloud-based, On-premise; End user - Health care Providers, Insurance Providers, Pharmaceutical Companies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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