New York, United States, October 9, 2024 (Globe Newswire) — In recent years, the population health management market has seen an increase in the adoption of healthcare IT solutions such as EHRs due to the growth of the elderly population and the increasing prevalence of older adults. has increased significantly. Chronic disease. According to the United Nations, the world’s elderly population is expected to increase from 962 million in 2017 to more than 2.1 billion by 2050. This is expected to increase the burden of chronic diseases and further pressure on healthcare costs. However, several private and government agencies have already begun efforts to improve healthcare outcomes and reduce financial burden by providing hospitals with favorable reimbursement policies and incentive programs.
Population health management solutions can also help reduce healthcare spending. Efforts are being made around the world to control healthcare spending, and the demand for population health management solutions is expected to increase. For example, the trend shift from volume-based care to value-based care is further driving the adoption of population health management solutions.
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Wearable technology integration offers lucrative opportunities
For better understanding, we have broadly segmented the Population Health Management market by components, end users, and delivery methods. Based on component, the population health management market is segmented into software and services. In 2018, the services sector dominated the global market in terms of revenue and is expected to witness similar growth in the future. On the other hand, the software sector is expected to grow at the fastest CAGR and have a significant impact on the global market. This can be attributed to increased research and development activities to provide integrated software solutions to enhance population health management. The integration of wearable technology and IoT creates further lucrative opportunities for the development of software solutions. Wearable technology tracks health parameters such as sleep patterns and heart rate, which are important for monitoring health status. The development of innovative population health-based software allows health systems to collect, track, and analyze health data to devise the most accurate treatments for patients. End users are also likely to spend significant amounts of money on wearable technology over the next few years.
The global population health management market is segmented by end-user into healthcare providers, payers, and employers.
Strategies taken to support healthcare in the digital transition
Based on delivery method, the population health management market is segmented into web-based, on-premises, and cloud-based solutions. In 2018, web-based solutions were found to be a significant contributor to global market revenues, as the portals are easily accessible from anywhere and there is no need to install any software to access the information. However, as the healthcare industry faces tremendous pressure to operate in real-time and provide access to patient medical information across multiple healthcare locations, the cloud-based solutions sector will grow at the fastest CAGR during the forecast period. It is expected that. Additionally, major cloud technology providers are working on various strategies to improve operational efficiency for healthcare providers. Amazon, Microsoft, IBM, Google, and others are leading cloud service providers that are helping healthcare providers with their digital transition.
Asia Pacific region witnessing dynamic growth
Geographically, the Asia-Pacific market is expected to witness the fastest growth during the forecast period. This can be attributed to the heavy burden of elderly populations in some countries such as Japan, China, and India. Older people are more likely to suffer from chronic diseases. This will force governments and health care providers to provide better treatments at lower prices without putting a financial burden on patients. According to World Bank statistics, Japan’s elderly population increased from 22% in 2010 to 27% in 2017. Therefore, the adoption of population health management solutions is gradually increasing to address the burden of chronic diseases. Gradual increase in spending on EHR or EMR in this region is expected to drive market growth. In 2018, Australia spent approximately $1.26 billion on EHR and EMR implementation.
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competitive player
All scriptsMcKesson CorporationCerner CorporationConifer Health Solutions LLC.eClinicalWorksOptum IncKoninklijke Philips NVAthenahealth, Inc.
recent trends
In October 2022, population health management and analytics tools that improve patient outcomes in primary care practices enrolled in the Centers for Medicare and Medicaid Services’ Comprehensive Primary Care Plus (CPC+) program are It turns out. . In November 2022, an eight-county area in upstate New York will benefit from improved health care services through a partnership between Bassett Healthcare Network and Andreessen Horowitz.
segmentation
By component
Software Services Healthcare Providers by End User Payers Employers On-Premise by Delivery Mode Web-based Cloud-based by Region North America Europe APACLATAMMEA
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