- The improving clinical outcomes, lowering the cost of treatments, and the increasing government support are the major factors driving the market.
- Additionally, the increasing population suffering from chronic diseases, which requires a long period of surveillance and hospital stay, and favorable government policies are 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.
- Additionally, 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 Dominates the Population Health Management Market
The market is segmented on the basis of component, delivery mode, end user, and geography. Based on the mode of delivery, the market is further segmented into cloud-based, web-based, and on-premise. 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.
North America Dominates the Market
North America is expected to hold a leading position in the population health management market during the forecast period. 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 patientsí data.
The population health management market is fragmented. Market players are continuously focusing on acquisitions and mergers, provision of customized solutions, and expansion of companies in untapped commercial markets. Moreover, companies are investing huge amounts on developing new products and platforms with enhanced and improved features, as a part of their commercialization strategies. For instance, in December 2017, Royal Philips acquired VitalHealth, to expand its population health management business. Additionally, in May 2018, the North Carolina-based company, Columbus Regional Healthcare System (CRHS), announced that it may soon begin the Cerner EHR Implementation project, to boost care coordination across its acute and ambulatory care facilities.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Need to Build a Comprehensive Single Platform for Patient Record and Management
4.2.2 Rising Population Suffering from Chronic Diseases Requires Long Period of Surveillance
4.2.3 Increasing Support and Investments from Public and Private Organizations
4.3 Market Restraints
4.3.1 Need for Multi-disciplinary Teams for Effective Implementation
4.3.2 Reimbursement Issues
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.2 Delivery Mode
5.3 End User
5.4.1 North America
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
5.4.5 South America
220.127.116.11 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allscripts Healthcare Solutions Inc.
6.1.2 Cerner Corporation
6.1.3 Conifer Health Solutions
6.1.4 Epic Systems Corporation
6.1.5 International Business Machines Corporation (IBM)
6.1.6 Health Catalyst
6.1.7 Koninklijke Philips NV
6.1.8 Mckesson Corporation
6.1.9 Optum Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.