Population Health Management Market Growing Demand, Synopsis, Opportunities and Analysis 2020 to 2027
Global Population Health Management Market - Overview The global population health management market is growing with the rapid pace; mainly due to the technological innovation. According to a recent study report published by the Market Research Future, the global population health management is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023). Population health management is the aggregation and analysis of patient data across multiple health domains and data resources, so as to improve both clinical and financial outcomes. The explosive growth of healthcare data availability which includes clinical data, market data etc. is creating a new set of opportunities and challenges for healthcare industry. Notably, extreme need to fill in the gap between expenditure and outcomes is the key factor driving the eclinicalworks population health management market. It is observed that in the year 2012 digital healthcare data was estimated to be around 500 petabytes and is expected to reach 25,000 petabytes by 2020. On the other hand there has been deterioration in clinical outcomes in spite of huge expenditure on healthcare. The U.S. alone spend a whopping 16% of its GDP on healthcare in 2015. Despite this huge GDP expenditure the United States doesn't even rank in the top 10 best public health care systems with countries such as Denmark ranking higher than it. Global Population Health Management Market - Regional Analysis Most of the existing market players are concentrated in the Americas owing to wellestablished market and high healthcare expenditures. According to the Centers for Medicare & Medicaid Services, in 2015, U.S. healthcare spending increased 5.8% reaching USD 3.2 trillion Canadian healthcare specifically was stressed by an advancing demographic move. The increase of insurance coverage because of health care reform (Affordable Care Act, 2010) in the U. S. additionally prompted an expansion in health care spending. The regulatory changes in the U.S. such as implementation of Affordable Care Act and Hospital Readmissions Reduction Program coupled with Medicare initiative to penalize unnecessary patient readmissions will strengthen the position of the U.S. Global Population Health Management Market - Competitive Analysis The global population health management market is currently dominated by few players. IBM is one of them by holding a strong share in the market. IBM is a U.S. based company that manufactures and markets computer hardware and software and offers hosting and