Pune, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The global population health management market size is predicted to reach USD 91.43 billion by 2026, exhibiting a CAGR of 19.9% during the forecast period. The market in North America generated a revenue of USD 13.84 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the advanced healthcare infrastructure and greater adoption of healthcare IT.
The rising shift from fee-for-service (FFS) to a value-based payment (VBP) in healthcare will have a positive impact on the Population Health Management Market growth during the forecast period. Moreover, the growing awareness regarding value-based payment (VBP) and its holistic approach, which allows clinical outcomes and reimbursement from insurance companies. Thus, the shift from conventional fee-for-service (FFS) reimbursement to value-based payment (VBP) reimbursement will enable speedy growth of the market in the forthcoming years.
KEY INDUSTRY DEVELOPMENTS:
- February 2020 – Pillo Health announced the launch of their product offering of Pillo Remotely, a population health data and device manager which enables better visibility into home health habits, for better participation of the patients in their treatment plans.
- December 2019 – Humana and Koninklijke Philips NV announced their participation for the improvement of care provided to high-risk Medicare Advantage members by the implementation of two new programs that support Koninklijke Philips NV’s population health management and remote patient monitoring solutions.
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Agreement Between Geisinger and Cerner to Foster Growth
The focus by key players to launch innovative new population health management software and solutions will create new opportunities for the Population Health Management Market revenue in the forthcoming years.
For instance, in October 2019, Geisinger, a regional health care provider and Cerner, an American supplier of health information technology solutions, services, devices, and hardware announced a ten-year agreement to expand the use of HealtheIntent platform for improved outcomes and diverse delivery network.
Furthermore, Karen Murphy, PhD, RN, Executive Vice President, Chief Innovation Officer and Founding Director of the Steele Institute for Healthcare Innovation at Geisinger, said in a statement, “Expanding our relationship with Cerner and leveraging its capabilities across our health network will help create a better, seamless experience for our clinicians and help improve the personalized care we provide patients.”
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Advanced Healthcare Infrastructure to Support Growth in North America
The market in North America generated a revenue of USD 13.84 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the advanced healthcare infrastructure and greater adoption of healthcare IT.
The presence of major market players and their products in the region will aid growth in North America. The rising awareness among the patient population towards population health management and home healthcare will enable growth in North America. The market in Europe and Asia-Pacific is expected to witness steady growth owing to the lower initial adoption and of population health management.
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The Report Lists the Key Main Companies in the Population Health Management Market
- Cerner Corporation
- Allscripts Healthcare, LLC
- Deloitte Touche Tohmatsu Limited
- GE Healthcare (General Electric Company)
- International Business Machines Corporation (IBM)
- Koninklijke Philips N.V.
Population Health Management Market Segmentations:
By Component
• Software
• Services
By Platform
• Cloud-based
• On-premise
By End User
• Healthcare Providers
• Healthcare Payers
• Others
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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