Population Health Management Market Estimated to Post a Striking CAGR of 21.2% from 2016 to 2023

August 22 10:27 2017

Population Health Management Market
Global Population Health Management Market Information; by Component (Software and Service) by Application (healthcare economics and resource management, healthcare coordination & consultancy, clinical and compliance studies, surveillance and others); by Delivery mode (On-premise, web and cloud based & mobile based) and by End user (Healthcare Providers, healthcare Payers, Government organizations and others) – Forecast to 2023

Market Forecast and Highlights:

Global Population Health Management Market is poised to grow tremendously due to the shift to care based system and acute need to curtail healthcare expenditure. The market for Population Health Management is expected to grow at a CAGR of 21.2% from 2016 to 2023.

The global population health management market has been evaluated as a high growth market with the potential for explosive growth. As the population health management system is a latest development it is suffering from inconsistent development. Thus no single player in the market has complete and comprehensive solutions. Thus any first comer with a novel and comprehensive solution will grow at an explosive growth with minimum marketing cost and faster market uptake.

Another development is the collaboration between data companies and large healthcare players. This benefits both partners as data companies get access to data of the healthcare players and the large healthcare player can save on costs.

Top Market Players and Competitive Analysis:

Key players profiled in the report are Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, LLC, McKesson Corporation, Wellcentive, Inc., Epic Corporation, Inc., IBM Corporation, SAS etc.

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The global population health management market is a consolidated market with a hand full of large players. Product development is the best strategy to be a market leader in such a situation. Large market players include IBM Corporation and SAS.

The market favors a player offering a comprehensive and complete integrated solution. Thus players with established expertise in data warehousing and analytics will have an edge over others. Thus IBM Corporation, with its huge data warehouse setups and expertise in analytics is a strong player. SAS also has a strong presence in population health management.

Regional Analysis:

The United States is not on the list of best healthcare systems despite spending a whopping 16% of GDP on healthcare in 2015. The system is often accused of being wasteful and inefficient and the calls for reforms were impossible to neglect especially after the 2007 recession. However there has been a shift in the healthcare policy from a fee for service based model to outcome based value paying model. Implementation of Affordable Care Act and Hospital Readmissions Reduction Program coupled with Medicare initiative to penalize unnecessary patient readmissions has stimulated the market for population health management effectively. Moreover many healthcare providers and payers are finding the need for a single point integrated healthcare management system. The recent consolidation of large healthcare players in the U.S. has strengthened their buying power which has further boosted the market for population health management. Thus the U.S. seems to withhold its dominant market share of population health management in the near future.

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Europe also seems to follow the example of the U.S. and will be the second largest market for population health management. Europe also enjoys an excellent healthcare documentation culture as exemplified by Denmark. Thus we predict Denmark to be the fastest growing market for population health management.

The future market for population health management however will be led by Asia Pacific region particularly China and India. These two nations account for approximate 36.5 % of world population. Thus the potential of healthcare cost savings is highest in these two countries.

China and India have huge populations, but their growth has been restricted by low computerization and low per capita income as compared with the developed regions. However the situation is fast undergoing a sea change and it is expected that the rapid economic development coupled with better healthcare administration of both countries will make them largest segment of future global market for population health management.

The Middle East and African region will be led by Gulf countries such as Saudi Arabia, UAE etc. Public expenditure on healthcare accounts for more than 75 % of total expenditure in these countries. These countries are trying to push a part of this expenditure on the private pockets which is being resented by the general public of these nations. Thus population healthcare management will be high on the agenda of these nations. Also these countries have a high expat population which will make population health management a necessity for these countries. These countries also have a high per capita income. Thus we expect the gulf countries to dominate the Middle East and Africa regions.

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