The growing geriatric population, prevalence of chronic diseases, investments, and healthcare expenditure are the key drivers for the population health management market. Advancing at a 23.3% CAGR during the forecast period (2016–2022), the market is projected to garner more than $48.1 billion in 2022, compared to $13.6 billion in 2016. The collection of patient data via multiple health information technology resources to be compiled into one single record is termed as population health management (PHM). It is used to identify the diseased population, care gaps, and risks, as well as engage patients, devise treatment methodology, and measure clinical outcomes.
The population health management market is being driven by the rising geriatric population across the world. The United Nations Department of Economic and Social Affairs mentioned that by 2050, the percentage of people over the age of 60 would grow to 21.1% from 11.7% in 2013. With age, the body’s ability to heal wounds, circulate blood, and fight infections diminishes, which makes the elderly more susceptible to many diseases, such as cardiovascular and neurological diseases. Further, many older people sometimes require personalized treatment, in which PHM can be extremely helpful.
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The population health management market is segmented by region, delivery mode, end user, and component. Based on region, the categories are Asia-Pacific, North America, Europe, and Rest of the World. Among all, the largest contribution to the market, in terms of revenue, was made by the North American region during the historical period (2012–2015). In the forecast period, the market is expected to still be led by this region, with over 80.0% share in 2022. This growth in the regional market can be attributed to the strong focus on reducing healthcare expenditure, supportive government policies, and developed healthcare infrastructure.
The delivery mode segment of the population health management market is classified into web based, on-premises, and cloud based. In the historical period, the web-based delivery mode amassed the maximum revenue in the market, and the same is expected to hold over 65.0% share by 2022. With changing times and the growing popularity of new technologies, such as cloud, the fastest growth in the forecast period is projected to be witnessed by the cloud-based classification.
Therefore, the market for population health management is projected to witness remarkable growth in the forecast period owing to the increasing menace of chronic diseases, especially among the elderly.
This post was originally published on Raleigh Recorder