(PRWEB) August 02, 2014
The “Population Health Management Market by Component (Software & Services), Delivery Mode (On-premise, Web, & Cloud), End-User (Provider, Payer, Employer Groups & Government Bodies) - Trends & Global Forecasts to 2018” analyzes and studies the major market drivers, threats, opportunities, and challenges in North America, Europe, Asia, and Rest of the World (RoW).
This report studies the global population health management market over the forecast period of 2013 to 2018. This market was valued at $12.8 billion in 2013 and is poised to grow at a CAGR of 26% from 2013 to 2018, to reach $40.6 billion by 2018.
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Population health management (PHM) programs play an important role in providing better healthcare to the population, while simultaneously reducing the costs. It improves the health of the population through the coordination of efforts by individuals, organizations, and providers. According to the prominent players in this market like WellCentive, Inc., Phytel, Inc., Health Catalyst LLC, and McKesson Corporation among others, the adoption of population health management solutions is likely to rise among the Employer Groups.
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The major factors driving the population health management market are the legislative reforms of Affordable Care Act (ACA) in the U.S., demand for the improved quality of care, federal funding, rise in aging population, and incentives by the government for the adoption of PHM programs. The benefits provided by the population health management solutions such as cost reduction, greater flexibility, and improved quality of healthcare are resulting in an increase in the deployment of these solutions. However, in spite of the numerous benefits of population health management, certain barriers such as huge investments, lack of skilled analysts, fragmented end-user market, and security of patient data are restraining the growth of this market.
The North American market commands the largest share of the global population health management market in 2013. Europe represents the second largest market, but is growing at a lower rate, while the Asian market is relatively new to population health management; however, the increasing HCIT adoption, proficiency of IT skills, and outsourcing trend will drive the growth of this market.
The global population health management market is a highly fragmented market, with some major players such as Phytel Inc. (U.S.), McKesson Corporation (U.S.), Verisk Health Inc. (U.S.), Health Catalyst, LLC (U.S.) Allscripts, Inc. (U.S.), i2i Systems Inc. (U.S.), WellCentive, Inc. (U.S.), Conifer Health Solutions, LLC (U.S.), Explorys, Inc. (U.S.), and Healthagen, LLC (U.S.).
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