European Population Health Management Industry Size Segment Analysis, Growth Drivers and Forecast by 2022
The population health management market size is set to cross $48.1 billion by 2022, growing at a CAGR of 23.3% between 2016-2022. The growing geriatric population, increasing prevalence of chronic diseases, Affordable Care Act, increasing investments by HIT players and increasing healthcare spending are driving the growth of the PHM market.
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In terms of delivery mode, the PHM market has been segmented into web based, cloud based and on-premise. In 2015, the web-based delivery mode was the largest contributor to the PHM industry. However, the cloud-based delivery mode was the segment to witness highest growth rate during 2016-2022.
In terms of component, the PHM market has been segmented into software and service. In 2015, the software component held the major share in the global market and the segment would also witness higher growth during 2016-2022.
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In terms of end user, the PHM market has been segmented into healthcare provider, healthcare payer, employer group and government bodies. The employer group segment is expected to witness the highest growth during the forecast period.
The market for PHM in the European region is expected to cross $4.7 billion by 2022. The major factors driving the growth of the European PHM market include increase in demand for reducing healthcare cost, high prevalence of chronic diseases and increasing government initiatives. Aging population is another key factor driving the growth of the PHM industry in the region. The geriatric population is more susceptible to acquire diseases and hence, is at a higher risk of suffering from chronic diseases. Among the countries of the European region, Germany was the largest market for PHM, which is expected to grow at a CAGR of 22.8% during the forecast period to reach $1.5 billion by 2022.
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Some of the key companies operating in the PHM market include Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions Inc., Wellcentive Inc., Conifer Health Solutions LLC., IBM Corporation, Optum, Inc., and Health Catalyst LLC.
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