The global population health management market was valued at $11,114.4 million in 2015, and it is expected to grow at a CAGR of 23.3% during 2016-2022. The cloud based segment in the global population heath management market is expected to witness the fastest growth at a CAGR of 29.1% during the forecast period.
The global population health management market is growing at a significant rate, due to growing geriatric population, regulatory mandate under the Affordable Care Act (ACA), and increasing prevalence of chronic and lifestyle associated diseases. The increasing healthcare cost and incentives, and investment by the federal government for adoption of healthcare information technology are also driving the growth of the global population health management market. However, the factors such as lack of privacy of patient data, lack of skilled professionals, and huge investment in infrastructure requirement are inhibiting the growth of the global market.
Population health management is the collection of patient data through multiple health information technology resources, to analyze data through which care providers can improve financial, operational, and clinical outcome. It improves the quality, safety, efficiency and cost-effectiveness of the healthcare delivery system.
Geographically, North America dominated the global market of population health management in 2015 and is expected to witness the fastest growth, at a CAGR of 23.5%, during the forecast period. This is due to regulatory mandates under the Affordable Care Act (ACA), increasing prevalence of chronic and lifestyle associated diseases, and growing geriatric population.
Some of the key companies operating in the global population health management market include Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions Inc., Wellcentive Inc., Conifer Health Solutions LLC., IBM Corporation, Optum, Inc., and Health Catalyst LLC.
News Courtesy: P&S Market Research