Population Health Management Solutions Market in U.S. is Expected to Expand at a Mighty CAGR of 23.9% Between 2015 and 2023
The market for U.S. population health management solutions is expected to see various strategies that are being adopted by market players to keep up with technological elevations. In a report that is being published by Transparency Market Research (TMR), most of the market players could constantly innovate in the market through means of the development of novel software and services.
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Apart from this, improvisation of existing offerings to keep up with the technological advancement in the market is also another factor that is driving the market. This could result in helping market players secure a totally reliable position in the industry. Some of the prominent market players that are involved with population health management solutions in the U.S. are Health Catalyst, Healthagen, and IBM.
In accordance with the statistics of TMR, the U.S. population health management solutions market could earn revenue of around US$ 45.7 bn by the year 2023 at a CAGR of 23.9% over the forecast timeframe that extends from the year 2015 to 2023. By the type of source, the services market is expected to achieve a higher growth rate between the year 2015 and 2023.
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Government Policies to Fuel Market Demand
The demand pertaining to the U.S. population health management solutions market is expected to gain momentum at the back of the robust enforcement of beneficial healthcare acts in the US. The demand for population health management solutions in the U.S. are expected to be encouraged by the soaring prevalence of chronic ailments in the US. Apart from this, the expanding size of the base of geriatric population in the country is likely to result in the augmented demand of the market. The regional market of North America is likely to be a popular choice for population health management solutions, taking into consideration the increase in total spending on healthcare in the last few years. This would offer an impetus to the said market.
There has been a growing demand for the implementation of effective and efficient population health management solutions owing to the alarming rise in the expenses related to healthcare. The U.S. government could, however, resort to the precise tracking of the health of the population. There could be a need for population health management solutions for the purpose of accomplishing the requirement to come up with healthcare enterprises that are patient-centric and organize an efficient population health management practices. As such, providers of healthcare are expected to incorporate population health management solutions at an increased rate.
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Expanding Geriatric Population to Impact Market Positively
The market for population health management market in the U.S. has been classified on the basis of mode of operation, end user, and type of source. On the basis of source, population health management software and the population health management services are the two of the significant market categories of the population health management market in the U.S. Of the two the classifications, the category of population health management services is very likely to secure the foremost position in the said market. The fast advancement of this segment can be linked to the increasing requirement for high productivity and cost effectiveness that is being given by the population health management services.
On the basis of end user, the market for U.S. population health management has been classified into diagnostic and imaging centers, medical device organizations, government insurance providers, research institutes, employers, pharmaceutical companies, private insurance providers, and healthcare providers. Of all of these categories, healthcare providers are poised for substantial growth during the period of forecast.
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Increased expenditure on healthcare, private investments, and soaring consciousness regarding health in the domain of population health management solutions in the U.S. are attributed with the distinct progress of this market category. Furthermore, the increasing elderly population base across the country is also fuelling the improvisation and implementation of population health management solutions by the healthcare providers.
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