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(Hosting-NewsWire.com, October 11, 2018 ) According to the new market research report Population Health Management Market is expected to reach USD 42.54 billion by 2021 from USD 13.85 billion in 2016, at a CAGR of 25.2% in the next five years. Implementation of the Affordable Care Act (ACA) in the U.S., government support for the prevention of diseases and adoption of HCIT, growing geriatric population and the subsequent increase in the prevalence of chronic diseases, need for affordable treatment options due to the rising healthcare costs, and advancing IT and big data capabilities can grow global market growth.
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The PHM market is segmented on the basis of component, mode of delivery, end user, and region. Based on component, the market is categorized into software and services. The software segment is expected to command the largest share of the global market in 2016. PHM software includes web-based and cloud-based solutions. The advantage of these solutions is that the service provider maintains and upgrades the software and eliminates the buyer’s responsibility of server support and maintenance, which enables the buyer to focus on their core business.
On the basis of region, the market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016. The U.S. is the largest market in North America, owing to the rising healthcare costs, growing geriatric population, the implementation of the Affordable Care Act (ACA), increasing funding for population health management, rising prevalence of chronic diseases, and increasing number of awareness campaigns. In Canada, the growth of the market is driven by the rising healthcare spending, the implementation of the population health approach by the Canadian government, and rising prevalence of chronic diseases in the country.
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However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This can be attributed to the implementation of a number of PHM programs to improve population health in Australia, growing medical tourism in Asia, rapidly growing healthcare industry in India, efforts taken to digitalize the healthcare system in China, investments and reforms to modernize China’s healthcare infrastructure, and new outline by Japan’s information and communication technology fund.
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Cerner Corporation (U.S.), McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Healthagen, LLC. (U.S.), OptumHealth (U.S.), IBM Corporation (U.S.), Epic Corporation, Inc. (U.S.), Conifer Health Solutions, LLC (U.S.), Health Catalyst, LLC (U.S.), Wellcentive, Inc. (U.S.), i2i Population Health (U.S.), and Verscend Technologies, Inc. (U.S.) are some of the key players in the population health management market.
Mr. Shelly Singh
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