U.S. Population Health Management Solutions Market Value will Reach to US$ 45.7 Billion by 2023
Added: (Sun Feb 04 2018)
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As per the statistics of TMR, the U.S. population health management solutions market could earn a revenue of US$ 45.7 bn by 2023 at a CAGR of 23.9% during the forecast timeframe 2015–2023. By source, the services market has been predicted to achieve a higher CAGR between 2015 and 2023.
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The demand in the U.S. population health management solutions market could gain a good momentum on the back of the strong enforcement of favorable healthcare acts in the country. The demand for population health management solutions in the U.S. could be stimulated by the rising prevalence of chronic ailments in the country. Besides this, the swelling size of the geriatric population in the country could up the demand in the market. North America could be reputed as a choice market for population health management solutions, considering the increase in total healthcare spending in the last few years. This could very well provide an unwavering impetus to the U.S. market.
There has been an escalating need for the implementation of effective population health management solutions due to the alarming rise in healthcare expenses. The U.S. government could turn to the accurate tracking of the population’s health and that of population subgroups through high focus on increased investments and incentives. Population health management solutions could also be demanded for accomplishing the need to set up patient-centric healthcare enterprises and organize an efficacious population health management practice. As a result, healthcare providers have been foreseen to integrate population health management solutions at an increasing rate.
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The U.S. population health management solutions market has been projected to be significantly hindered by the requirement of hefty investment for developing suitable infrastructure. Furthermore, end users could be additionally burdened by the need of the deployment of skilled workforce for the application of population health management solutions.
Nevertheless, the U.S. population health management solutions market has been forecasted to create scores of business opportunities with the rapid transition of the healthcare sector from a paper-based to a digitized system. Consequently, the need for healthcare IT services could accelerate swiftly, further improving the growth of the market. Moreover, the healthcare sector has been experiencing a shift to a value-based payment (VBP) to a fee-for-service (FFS) model. This could push the population health analysis market to attain a robust revenue growth and convert into a multibillion-dollar industry for population heath management solutions in the U.S.
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The U.S. population health management solutions market has been anticipated in a report published by Transparency Market Research (TMR) to witness various strategies adopted by players to keep step with technological elevation. Most players could persistently innovate in the market by means of the development of novel services and software. Apart from this, there could be an improvisation of existing offerings to match up the technological advancement in the market. This could help players to secure a copper-bottomed position in the industry. Some of the key players dealing with population health management solutions in the U.S. have been expected to be IBM, Healthagen, and Health Catalyst.
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