Albany, NY -- (SBWIRE) -- 04/20/2017 -- Population health management is characterized as collecting and analyzing the data on segments of patient population and management of that data for specific diseases within that population. It is a model which helps the health care providers and payers to assess the populations they serve across the continuum of care. Population health management is thus a comprehensive approach which requires both analysis and action, and utilized to uncover the gaps in health care for the benefits of patients and physicians. It improves health management outcomes by aligning physicians, coordinating the medical care, and optimizing efficiency as well as revenue. Major factors driving the population health management market are continued pressures to minimize health care costs, rising demand to improve the healthcare services quality, and implementation of value-based payment system. However, lack of trained and efficient professionals, safety of data and its management concerns, and lack of proper systems requiring investment to run the population health management program smoothly are the major restraints of the population health management market.
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The global population health management market can be segmented based on component, delivery mode, and end-user. In terms of component, the global population health management has been segmented into software, hardware, and services. The services segment has been further divided into consulting, business intelligence, analytics, and others. The consulting and business intelligence segments dominated the population health management market in 2016, owing to the rising demand for business intelligence tools to analyze the data in the process of decision making from a patient perspective. The software segment is expected to lead the population health management market during the forecast period, with highest CAGR, attributed to the introduction of the Patient Protection & Affordable Care Act (ACA) and encouragement to hospitals by public and private players to take up population health management programs. Based on delivery mode, the global population health management market has been classified as web-based, mobile-based, cloud-based, and others. The web-based segment held the largest share of the population health management market in 2016 due to the continuous efforts being made by governments to reduce health care costs and rapid adoption of private payers to value-based purchasing model. However, the mobile-based segment is anticipated to witness highest CAGR and is expected to account for the largest share of the global population health management market in terms of revenue by 2025. Emergence of big data analytics is a major factor likely to drive the mobile-based market during the forecast period.
In terms of end-user, the global population health management market has been segmented into health care providers, health care payers, government organizations, and employer groups. The health care providers segment captured the largest market share in terms of revenue in 2016, attributed to rising incidence of chronic diseases among the population and increasing demand for better and healthy patient quality of life. The health care payers and providers segments are projected to dominate the global population health management market from 2017 to 2025, owing to increasing demand for effective and systematic disease management.
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. North America accounted for the largest share of the population health management market in terms of revenue in 2016, attributed to the reforms and investments being made to modernize the health care infrastructure in the U.S. However, the market in Asia Pacific is expected to expand at the highest CAGR during the forecast period, owing to the growing medical tourism in developing countries in Asia and the rapidly expanding health care industry in China and India. North America is anticipated to continue to dominate the market during the forecast period due to the efforts being taken to digitalize the health care system in the region.
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Key players in the global population health management market are Allscripts Healthcare Solutions, Inc., Cerner Corporation, Accenture, Conifer Health Solutions, LLC, McKesson Corporation, IBM Corporation, Wellcentive, Inc., and Epic Corporation, Inc., among others.
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