The global
population health management market is expected to grow at a
CAGR of 15-17% in the next 5 years. The aging patient population
and growing burden of chronic diseases, the need to reduce healthcare costs,
the growing focus on preventive care, and the shift from fee-for-service to a
value-based care model are some of the key factors driving the PHM
market.
Population health management (PHM) solutions aim at
improving clinical outcomes at individual and community levels. Some of the key
components include data integration & analysis, patient engagement, risk
stratification, preventive care, care coordination, and outcome measurement
& reporting. Population health brings agencies and organizations together
in ways that are designed to improve clinical outcomes within a population or
community. Several stakeholders are involved in managing population health including
healthcare providers, payers, policymakers, patients, technology providers,
employers, community organizations, and public health officials, each playing a
crucial role in ensuring the success of the program.
Download a free sample report for in-depth market insights
https://meditechinsights.com/population-health-management-market/request-sample/
The growing burden of chronic diseases to propel PHM
market growth
Chronic diseases are expected to create an increased burden
globally, with conditions such as cardiovascular disease, cancer, diabetes, and
respiratory disease causing 75% of deaths in 2010 and 79% in 2020. By
2030, this percentage could grow to as much as 84%. Chronic diseases account
for most illnesses, disability, and death in the US and are the leading drivers
of healthcare costs. As per data from the CDC, chronic and mental
health conditions account for about 90% of the nation’s $4.5 trillion
annual healthcare expenditure. The healthcare stakeholders in the US and across
regions are increasingly recognizing that managing chronic disease effectively
is not only one of the best ways to improve clinical outcomes and quality of
life across communities, but it is also essential for reducing costs at the
individual and community levels. This will lead to further adoption of PHM
solutions in the coming years.
Rising focus on preventive healthcare to further drive
the market growth
Preventive care stresses on early detection of health
issues, which allows for timely intervention. Healthcare organizations are
increasingly recognizing the importance of preventive care to reduce
unnecessary hospitalizations and prevent serious diseases and medical problems
before they can become major. For instance, Healthy People 2030, led by the
Office of Disease Prevention and Health Promotion (ODPHP) includes data-driven
objectives that can improve health and well-being at the national level. It shows
how improving preventative care improves health across a wide range of
populations. PHM solutions use data analytics to identify at-risk
populations and implement preventive measures, reducing the incidence of
chronic diseases among communities. Thus, with the growing focus on preventive
care and the ability of PHM solutions to help achieve this goal, demand
for PHM software and services is anticipated to grow rapidly.
Unlock key
data with a sample report for competitive analysis:
https://meditechinsights.com/population-health-management-market/request-sample/
Competitive Landscape Analysis
The global PHM market is marked by the presence of
established, innovative, and emerging market players such as Oracle
Corporation, Optum, Conifer Health Solutions, Koninklijke Philips
N.V., Allscripts Healthcare, Epic Systems Corporation, IBM, i2i Population
Health, Health Catalyst, McKesson Corporation; among others. Some
of the key strategies adopted by market players include product innovation and
development, and strategic partnerships and collaborations.
About Medi-Tech
Insights
Medi-Tech Insights is a healthcare-focused business research
& insights firm. Our clients include Fortune 500 companies, blue-chip
investors & hyper-growth start-ups. We have completed 100+ projects in
Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma
Services in the areas of market assessments, due diligence, competitive
intelligence, market sizing and forecasting, pricing analysis &
go-to-market strategy. Our methodology includes rigorous secondary research combined
with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply
side decision-makers.
Contact:
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
Comments
Post a Comment