The global market for population health management solutions is predicted to witness a stellar growth in coming years, according to a report by Transparency Market Research (TMR). The players in the market are expected to engage in partnerships, mergers, and acquisitions in order to gain traction in the global market.
Recently, Allscripts acquired CarePort, with the aim of strengthening their position in post-acute care segment. A number of vendors are focusing on research and development of efficient solutions to thrive in the market’s competition. Some of the key vendors in the global population health management solutions market are McKesson Corporation, International Business Machines Corporation, Health Catalyst, Koninklijke Philips N.V., Cerner Corporation, ZeOmega, and UnitedHealth Group.
The report predicts that the global population health management market was valued at US$ 18,500.0 Mn in 2016 and is projected to expand at a CAGR of 16.1% from 2017 to 2025 to reach US$ 69,000.0 Mn by 2025.
Based on segment, the services segment is projected to hold a leading share of the worldwide market from 2017 to 2025. Factors ascribed to the higher share of the segment incorporate services offered by PHM sellers, for example, information investigation direction, end-client training, post-sale services, and support of programming. The segment is foreseen to hold around 40% share of the global market in terms of revenue in 2016.
Asia Pacific is anticipated to be the swiftest growing regional market in the global population health management market by 2025. This is credited to increment in medical tourism and demand of population health management (PHM) instruments in emerging nations, for example, Japan and Australia. The market in Asia Pacific is expected to exhibit at a high CAGR of 17% from 2017 to 2025.
Demand for Single Platform to Propel PHP Solutions Market
Numerous healthcare suppliers have been dealing with projects to enhance the health of the general population in danger. Thus, innovation assumes a huge part in investigating the health of the overall population. With these systems, patients’ clinical information will be accessible, as they move all through the care continuum, with no data being lost amid each care change. Consequently, by using these solutions, hospitals and patients can without much of a stretch access the health records. Likewise, health care centers can enhance their efficiency, reduce any extras, and increment the patient-information security. Accordingly, the surge in need of the population health management is a noteworthy driving factor for the development in the market.
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Efficiency and Value Based Payments to Drive Market Growth
PHM solutions can process clinical, expense related, and operational information for the change of productivity and patient care. Comfort offered by these installment models is in on account of the growing demand of population health models by the accountable care associations (ACOs).
ACOs, comprising of hospitals, health care centers, specialists, and different parental figures, work together with the payers for the conveyance of high quality care to the patients. Private and open protection suppliers have presented different disease management programs, to aid treatment of prevalent diseases. These multidisciplinary endeavors are expected to bring about effective treatment results and are anticipated to offer the best reasonable strategies that should be attempted. Effective clinical trials in the developed regions such as the U.S. have empowered huge headways in infection management programs. These are some of the key trends that could make headways in the growth of the global population health management market.