Population Health Management Solutions Market Analysis Current Trends and Sales Forecast Till 2023
The terminology population health is defined as the outcome of health analyzed in a group of individuals. These groups are often geographic population such as communities or nations, but they also refer to groups such as disabled persons, ethnic groups, employer groups, prisoners and any other groups. This approach aims at improving the health of entire human population as health outcome of such groups is of relevance to policy makers in both public and private sectors. The landscape of healthcare industry is rapidly changing and patients clinical needs and delivery models have become complex. Thus, for providing better clinical care doctors, nurses, physicians, government bodies, employers and others are increasing adopting patient health management solutions across the globe. The introduction of patient health management solutions enable improved healthcare quality with reduced cost.
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The market for population health management solutions market can be segmented on the basis of end users, mode of delivery, geography and component. The mode of delivery market can be further categorized into cloud based, web based and on–premise based market. The component segment of population health management solutions market could be classified into software and services. Out of these two software segments is presently witnessed to account for the major share of the market. The services sector of component market can be divided into post sale & maintenance, consulting, training & education, implementation services & ongoing IT support. The end users division of this market could be categorized into employer groups, payer, providers and government bodies. At present provider section of population health management solutions market accounts for the major share of the market. However, in the future employers group is anticipated to foresee remarkable growth rate due to realization by the employers about the health of the employees which consequently affect the organizations productivity percentage. Geographically the market for population health management solutions would estimate the market size for North America, Europe, Asia-Pacific and rest of the world. Among these North America is currently seen as a major share holder due to high healthcare expenditure, rising number of chronically ill patients and increasing government support for the implementation of such programs.
Aging population, technological advancements and improved demand for quality life and health are the key factors that are anticipated to increase the market size of population health management solutions. Rising number of chronically ill patients and increasing focus on reduction of healthcare expenditure across the globe would also stimulate the demand for population health management solutions. However, lack of skilled labor especially in developing countries, huge investments and security of patient’s data are the key reasons that might impede the growth of this market.
The population health management solutions market is highly fragmented hence intense competitive rivalry is witnessed among the players. Major players operating in this market are focusing on growth strategies such as mergers and acquisitions, agreements, collaborations, partnerships, innovations, marketing campaign and other promotional activities as to increase their market share. The prominent players operating in population health management solutions market includes. Cerner Corporation, Allscripts Healthcare Solutions, Inc., Explorys, Inc., Conifer Health Solutions, LLC, Healthagen, LLC. (A Subsidiary of Aetna, Inc.), Health Catalyst, LLC, Phytel, Inc., I2i Systems, Inc., Mckesson Corporation, Verisk Health, Inc., Wellcentive, Inc. and other major players. These players dominate the market due to innovative and highly effective products.