Why is Population Health Management Market Expected to Boom in North America in Future?

 The soaring global geriatric population, which is expected to reach at least 1.5 billion by 2050, according to the World Health Organization (WHO), is a key factor responsible for the rise in the demand for population health management (PHM). Elderly people require extensive care as they are more susceptible to diseases, especially chronic diseases, such as cancer and cardiovascular ailments, owing to their low immunity levels and high recovery periods. This causes a huge increase in the demand for better prevention, diagnosis, and treatment processes. In addition to this, older people also have a greater requirement for personalized medicine, because of their increased susceptibility to drug allergy, thereby boosting the demand for population health management.

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The other important factors bolstering the demand for PHM are the increasing healthcare expenditure, incentives, and investments by various governments throughout the world. The adoption of healthcare information technology and the enactment of the Patient Protection and Affordable Care Act, also called Obamacare, by the federal government of the U.S. are also contributing toward the rising popularity of the PHM approach. Driven by these factors, the global population health management market is expected to register considerable growth in the coming years.

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The population health management solutions are provided in three forms, namely cloud, web, and on-premises. Amongst these, web-based PHM solutions recorded the widest use in the last few years, and these are expected to register the highest adoption in the coming years too. Owing to the rapid advancements in cloud technology, cloud-based PHM solutions are predicted to observe the fastest growth in usage in future. Additionally, with cloud, there is almost no requirement for physical hardware, which reduces IT costs and makes the whole process easier.

Therefore, it can be concluded that owing to the burgeoning demand for advanced healthcare solutions that are backed by holistic data analysis and the soaring geriatric population levels and associated health disorders, the demand for PHM will witness tremendous growth in the coming years.

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