Market Overview
The global population health management (PHM) market size is projected to reach USD 91.43 billion by 2026, exhibiting a CAGR of 19.9% during the forecast period. Surging demand for quick access to patient records during the COVID-19 pandemic will be a crucial growth-driver for this market, states Fortune Business Insights™ in its report, titled “Population Health Management (PHM) Market Size, Share & Industry Analysis, By Component (Software, and Services), By Platform (Cloud-based, and On-premise), By End User (Healthcare Providers, Healthcare Payers, and Others), and Regional Forecast, 2019-2026”. The COVID-19 outbreak has created a global health and economic crisis of unparalleled proportions. To effectively confront this challenge, healthcare professionals are requiring efficient access and retrieval of patient records to provide the optimum care and medication to corona virus and other patients. In response, many public and private bodies are working out solutions to meet this demand. For example, the North Dakota Health Information Network, in April 2020, created longitudinal health records of patients to understand their conditions and accelerate diagnoses across the state. Similarly, in March 2020, Chicago-based Medical Home Network began using an Artificial Intelligence (AI) solution to identify individuals at a heightened risk of suffering from severe effects of COVID-19. In sum, the corona virus pandemic is likely to stoke the adoption of population health management systems and fuel the market growth.
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COVID-19 Impact
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The report states that the market value stood at USD 21.40 billion in 2018 and offers the following:
- Exhaustive analysis of the market drivers, trends, and hindrances;
- Comprehensive assessment of all the possible market segments;
- Thorough study of the regional dynamics and competitive landscape of the market; and
- Precise computation of the relevant market figures and values.
Market Restraint
Rising Frequency of Cyber-Attacks on Healthcare Systems to Impede Market Growth
The population health management market growth is expected to get negatively affected by the increasing rate at which cyber-attacks are being conducted on healthcare systems around the world. For instance, in May 2019, the US Security and Exchange Commission (SEC) revealed that American Medical Collection Agency (AMCA), the billing services provider, faced a series of hacking attacks between August 2018 and March 2019, triggering a plethora of investigations and lawsuits against healthcare IT companies across the country. In April 2019, a month before AMCA’s revelation, the insurance company Dominion National declared a 9-year hack on its systems, breaching the data of around 2.96 million patients. With majority of patient data going online, these attacks are inevitable and are likely to spike during the COVID-19 crisis, which is exerting unprecedented pressure on healthcare systems worldwide.
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Regional Insights
North America to Lead the Market Supported by Robust Healthcare Infrastructure
In 2018, the market size in North America stood at USD 13.84 billion and the region is expected to dominate the population health management market share during the forecast period. The primary factors favouring the regional include strong and advanced healthcare infrastructure and rapid progress in healthcare IT, along with robust presence of global healthcare services companies.
The PHM market in Europe is anticipated to grow at a steady pace as population health management solutions are playing a critical role in delivering improved care to the expanding elderly population in the region. In Asia Pacific, market growth will be mainly based on the increasing number of hospitals and multi-specialty healthcare facilities in the region.
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Competitive Landscape
Patient-centric Innovations by Market Players to Heat up Competition
The competitive milieu of this market is characterized by the operations of a few well-established players, specializing in healthcare IT in general and population health management in particular. These players are continuously innovating solutions to improve patient care and provide efficient access to patient data to health personnel. This factor has gained added significance due to the on-going crisis.
Industry Developments:
- February 2020: US-based Pillo Health released its newest HIPAA-compliant PHM solution, Pillo Remotely. The solution transfers management of Pillo devices to healthcare professionals, who can now gather patient health data, conduct health surveys, and configure Pillo devices to enhance medical care.
- January 2020: Microsoft announced a 5-year-long, USD 40 million health program called “AI for Health”. The novel initiative is designed to leverage Machine Learning (ML) and Artificial Intelligence (AI) tools to reduce health inequity, improve global understanding of mortality and longevity, and speed up medical research.
List of Key Players Covered in the Population Health Management Market Report:
- Medecision
- McKesson Corporation
- International Business Machines Corporation (IBM)
- Deloitte Touche Tohmatsu Limited
- Cerner Corporation
- UnitedHealth Group
- Koninklijke Philips N.V.
- GE Healthcare (General Electric Company)
- Allscripts Healthcare, LLC
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Population Health Management (PHM) market OverviewAccording to the survey conducted by the Organization for Economic Co-operation and Development (OECD), in per capita terms, health spending in 2017 is estimated to have reached USD 4069 million average across the OECD.
Per capita spending was also significantly above the OECD average in Switzerland (USD 8 009), Luxembourg (USD 7 049) and Norway (USD 6 351).It also includes an extensive investigation on Population Health Management (PHM) manufacturers, the expansion strategies adopted by the companies to capitalize on the existing growth prospects, the financial standing, and the individual market share of the leading participants, providing the readers a comprehensive overview of the competitive scenario.To get a PDF Sample Copy (including TOC, Table of content, and facts and figures) of the Population Health Management (PHM) market report, visit@ https://www.reportsanddata.com/sample-enquiry-form/1523The following manufacturers have been studied in this report by assessing the sales, gross revenue, and market share for each company: Allscripts, McKesson Corporation, Cerner Corporation, etcThe information relating to the Population Health Management (PHM) market that has been collected and analyzed in the report will allow a brand engaged in the sector to get the upper hand against leading players in the global landscape.
This report offers insights into the competitive scenario in the market.
It also delivers a progressive perspective relating to different market aspects driving or curtailing the growth of the market.Product Type (Revenue, USD Million; 2016–2026)SoftwareServicesPost-Sale and Maintenance ServicesConsulting ServicesTraining and Education ServicesImplementation ServicesDelivery Mode (Revenue, USD Million; 2016–2026)Web-BasedCloud-BasedOn-PremisesApplication (Revenue, USD Million; 2016–2026)Automating Patient-Centered Medical Home (PCMH)Access Comprehensive Longitudinal Patient RecordEffectively Coordinate CarePatient OutreachOthersEnd User (Revenue, USD Million; 2016–2026)ProvidersAmbulatory Care CentersHospitals, Physician Groups, and Integrated Delivery NetworksDiagnostic and Imaging CentersHome Healthcare Agencies, Nursing Homes, and Assisted Living FacilitiesOther Healthcare ProvidersPayersPublic PayersPrivate PayersEmployer Groups To inquire about report customization & check for availability of incredible discount rates on this report, visit@ https://www.reportsanddata.com/discount-enquiry-form/1523The report will offer a clear view of each and every fact relating to the industry, rendering it unnecessary to refer to any other source of information or a data source.
Our report will deliver all details relating to the historical development, existing scenario, and accurate insights into the Population Health Management (PHM) Market.Regional Landscape Analysis for Population Health Management (PHM) Market:North America (United States, Canada, and Mexico)Europe (Germany, France, UK, Russia, and Italy)Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)South America (Brazil, Argentina, Colombia, etc.
)The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)The essential market aspects described in this report are:-Key Strategic Developments: The research includes the pivotal strategic developments of the global market, including research and development, mergers and acquisitions, agreements, product launches, collaborations, partnerships, joint ventures, and regional growth of major companies functioning in the market both on the global and regional levels.-Key Market Features: The report studies the critical market features, comprising of gross revenue, production capacity, price volatility, consumption rate, production rate, import/export status, supply/demand dynamics, cost analysis, market share, CAGR, and profit margin.
FEB 27, 2020: The global Population Health Management market is expected to reach USD 150.6 billion by 2027, registering a CAGR of 21.1% over the forecast period, according to a new report by Grand View Research, Inc.
Population health management (PHM) solutions can process clinical, financial, and operational data that help improve efficiency and patient care.
The health management program is also witnessing changes in medical reimbursement due to increasing emphasis on value-based payment (VBP) and Accountable Care Organizations (ACOs).
In addition, the convenience offered by value-based payment models is responsible for the increased adoption of population health solutions by ACOs.ACOs, consisting of hospitals, clinics, and other healthcare providers, collaborate with the payers (private and public) to provide high quality care to the patients.
These multidisciplinary efforts are expected to result in efficient treatment outcomes and are likely to suggest the best suitable courses of action that need to be undertaken.
Successful large-scale trials in U.S. have enabled significant advancements in disease management programs.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/population-health-management-phm-market/request-sampleFurther key findings from the report suggest:• PHM software offers predictive data analytics, which can be applied for interpreting population characteristics from unstructured clinical data• The services product segment held a majority of the market share in 2019, as healthcare providers prefer in-house maintenance services• Healthcare providers held the largest market share of the end-use segment in 2019.
Global Population Health Management Market is expected to reach USD 88.9 billion by 2025.
Population Health Management is the combination of patient data across many health information technology resources and a management within healthcare industry that facilitates and studies care distribution across the general population.
The main aim of PHM is to examine, collect, and regularize clinical data to recover the patients’ health and the provider’s financial results.
The Population Health Management industry is estimated to grow at a significant CAGR over the future period as the scope and its applications are rising enormously across the globe.Growing geriatric population and occurrence of chronic disease, government initiative for the deterrence of long-lasting diseases and acceptance of HCIT, and rising use of enhanced big data and IT technologies are documented as major factors of Population Health Management that are estimated to enhance the growth in the years to come.
However, lack of knowledge and high cost may restrain overall market growth in the coming years.
Population Health Management Market is segmented based on component, mode of delivery, end user, and region.Request a Free Sample Copy of Population Health Management Market Report @ https://www.millioninsights.com/industry-reports/population-health-management-phm-market/request-sampleServices and software are the two important components of Population Health Management industry that could be explored in forecast period.
