Population health management solutions are increasingly being adopted by healthcare providers, payers, employer groups, and government bodies across the globe, particularly in the U.S. This report studies the global market over the forecast period of 2013 to 2018. This market is estimated to grow at a CAGR of 26% to reach $40.6 billion by 2018 from $12.8 billion in 2013.
The population health management market is categorized into four broad segments, namely, components, delivery modes, end users, and geographies. The market by component comprises of software and services. The software segment accounted for the major share of the global market, while web-based ed solution accounted for the largest share of the global market by delivery mode in 2013.
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The adoption of population health management solutions enables the healthcare industry to reduce costs while improving the quality of healthcare. The solutions also provide positive returns on investment. Furthermore, legislative reforms of the Affordable Care Act (ACA) in the U.S., federal funding, rise in aging population, and incentives by the government for the adoption of PHM programs have stimulated the adoption of population health mgmnt solutions in the healthcare industry. However, in spite of the numerous benefits 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 end-user market is divided into providers, payers, employer groups, and government bodies. The providers market accounted for the largest share of 65% of the global market. This market was valued at $8.3 billion in 2013 and is expected to grow at a CAGR of 26% from 2013 to 2018, to reach $26.4 billion by 2018. However, the employer groups segment is expected to have the highest CAGR of 27.2% from 2013 to 2018. Based on geography, the population health management market is divided into North America, Europe, Asia, and Rest of the World (RoW: Pacific countries, Africa, Middle East, and Latin America)
The North American market dominated the global population health management market. The largest share of the market can be attributed to the various federal mandates and initiatives that encourage adoption of population health mgmnt practices, increasing pressure to reduce healthcare costs, and focus on improving the quality of care. Europe represents the second largest market, but is growing at a lower rate mainly due to the economic crisis and lack of government initiatives for analytics. The Asian market is relatively new to healthcare analytics; however, the increasing HCIT adoption, proficiency of IT skills, and outsourcing trend will drive this market.
The global 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.)., among others.
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