The global population health management market is being driven by the rising geriatric population and increasing burden of chronic diseases, digitalization of healthcare systems and the increasing need for affordable treatment options due to rising healthcare costs. Additionally, the increasing population suffering from chronic diseases, which requires a long period of surveillance and hospital stay, and favorable government policies that are also the other factors supporting the growth of market.
However, with the ongoing trends in population health management, customers face challenges associated with data security and reliability, increasing regulatory compliance, and handling huge amounts of healthcare data. Also the probability of reduced service/product quality is among the few factors expected to restrain the growth of the market.
Key Market Trends
Cloud-based Segment is Found Dominating the Population Health Management Market
The cloud-based segment holds the largest share in the population health management market, due to a rise in the number of benefits, such as low licensing and startup costs, low costs of maintenance and infrastructure requirements, and wider accessibility. In addition, a cloud-based population health management system provides enhanced productivity and fast and smooth implementation. Hence the cloud-based delivery mode is expected to witness the fastest growth during the forecast period.
North America is Found Dominating the Population Health Management Market
North America is expected to hold a leading position in the population health management market during the forecast period. The factors, such as favorable regulatory scenario, pressure on healthcare institutions to reduce costs, and rising trends in healthcare IT, big data and cloud computing, well-established healthcare infrastructure, continuous reforms by governments, and the increasing diseased patient burden are driving the growth of the population health management market in the regions.
For instance, the US government implemented the Affordable Care Act (ACA) for the prevention of diseases and the adoption of healthcare IT. The ACA will boost the growth of the population health management market and create opportunities for population health management service providers to collect and maintain patients’ data.
The market players are continuously focusing on acquisitions and mergers, provision of customized solutions, and expansion of companies in untapped commercial markets. Acquisitions and business partnerships with other market players are some of the strategic initiatives undertaken by these companies to strengthen their market presence. Moreover, companies are investing huge amounts on developing new products and platforms with enhanced and improved features, as a part of their commercialization strategies.
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