PUNE, India, January 21, 2016 /PRNewswire/ --
According to a new market research report "Population Health Management Market by Component (Software, Services), by Delivery Mode (Web-based, Cloud-based), by End-User (Healthcare Providers, Healthcare Payers, Employer Groups) - Analysis & Global Forecasts to 2020", published by MarketsandMarkets, the global market is expected to reach USD 31.63 Billion by 2020 from USD 11.13 Billion in 2015, at a CAGR of 23.2%.
Browse 41 market data Tables and 41 Figures spread through 135 Pages and in-depth TOC on "Population Health Management Market"
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The implementation of the Affordable Care Act (ACA), incentives and investments by the federal government for adoption of HCIT, and the rapid rise in the aging population & subsequent increase in chronic diseases is driving the market growth. Furthermore, increased focus on value-based medicine and personalized medicines is expected to create an array of opportunities for players in the Population Health Management Market.
The global Population Health Management Market is segmented on the basis of component, delivery mode, end-user, and region.
Based on component, the market is categorized into software and services. In 2015, the software segment accounted for the larger share of the Population Health Management Market. The software segment is also expected to grow at the highest rate. The high growth rate can be attributed to the increasing adoption of population health management solutions mandated by the Affordable Care Act (ACA).
On the basis of delivery mode, the market is segmented into web-based, on-premise, and cloud-based. The web-based segment accounted for the largest share of the population health management in 2015. However, the cloud-based segment is expected to be the fastest growing segment from 2015 to 2020. The high growth rate of cloud-based segment is attributed to its advantages such as on-demand self-serving analytics, no upfront capital investment for hardware, and extreme capacity flexibility.
Based on end-user, the market is segmented into healthcare providers, healthcare payers, employer groups, and government bodies. The healthcare providers segment accounted for the largest share of the population health management in 2015. However, the employer groups segment is expected to be the fastest growing segment from 2015 to 2020. The high growth of the employer groups segment can be attributed to various clinical and financial benefits offered by population health management solutions to the employers.
On the basis of regions, the global market is divided into North America, Europe, Asia, and the Rest of the World (Latin America, Pacific Countries, and Middle East & Africa). In 2015, North America accounted for the largest share of the Population Health Management Market, followed by Europe and Asia. North America is expected to grow at the fastest rate during the forecast period. The fastest growth rate of North America can be attributed to the implementation of the ACA, Hospital Readmissions Reduction Program (HRRP), and increasing aging population.
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However, safeguarding patient information is a major concern, which limits market growth to a certain extent. Also, huge investments in infrastructure to set up robust population health management programs are expected to pose as a key challenge to the growth of the Population Health Management Market.
Some major players in the Population Health Management Market include McKesson Corporation (U.S.), Verisk Health Inc. (U.S.), Health Catalyst LLC (U.S.), Cerner Corporation (U.S.), Allscripts, Inc. (U.S.), WellCentive, Inc. (U.S.), Conifer Health Solutions, LLC (U.S.), IBM Corporation (U.S.), i2i Systems, Inc. (U.S.), OptumHealth, Inc. (U.S.), and Healthagen, LLC (U.S.).
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