Population Health Management Market CAGR Projected to Grow at 16.1% Through 2025
The global population health management market is driven by increase in usage of health care IT solutions and technologies. The global population health management market was valued at
PHM programs are designed to keep defined patient populations, especially those with high-risk diseases, as healthy as possible while decreasing the need for costly interventions such as emergency department visits, hospitalizations, and invasive tests and procedures. PHM tools provide real time insights to administrators and clinicians, enabling them to identify the care management gap within risk patient population. The tools include improvement of medications, patient self-management, and cost management.
The global population health management market is witnessing significant growth and is expected to expand at a high CAGR during the forecast period from 2017 to 2025. Adoption of health care IT solution for population health, increase in prevalence of chronic diseases such as diabetes and cardiovascular diseases, benefits of PHM tools such as remote health management, data integration, and data storage are expected to fuel the growth of the global population health management market during the forecast period. Furthermore, implementation of the Patient Protection and Affordable Act in the
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The global population health management market has been segmented based on component, mode of operation, end-user, and region. Based on component, the market has been classified into software, services, and hardware. The services segment held major market share in terms of revenue in 2016. Services offered such as assistance in data analysis and post-sale client services are expected to drive the segment during the forecast period. Based on mode of operation, the global population health management market has been categorized into web-based, cloud-based, and on-premise.
The web-based segment held the largest share of the market in terms of revenue in 2016, followed by the cloud-based segment. Increasing trend of cloud computing is one of the factors attributed to the fast growth of the cloud-based segment during the forecast period. Based on end-user, the global population health management market has been divided into health care providers, insurance providers, pharmaceutical companies, and others. The health care providers segment held the largest share of the global market owing to benefits of PHM tools such as reduction of care management gaps and reduction of per capita cost.
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Key players in the global population health management market include
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