The European Population Health Management Market size is predicted to be growing at a CAGR of 24.04% between 2023 to 2028.
The European population management market is expected to be primarily driven by the factors such as increased use of big data analytics and the need to curtail the escalating healthcare cost and growth in the prominent data analytics usage. Also, the rising focus on personalized medicine, the proliferation of the geriatric population in this region, and the growing burden on chronic disease are propelling the market growth. Other factors driving market growth include the need to reduce escalating healthcare costs and the rise in demand for healthcare IT services and technologies that ensure value-based healthcare delivery. On the other hand, the growing need for effective disease management strategies is expected to drive market growth. An increase primarily leads to the demand for healthcare IT services, a rise in the need for value-based healthcare, and effective management in the European region.
However, as the market for healthcare management has grown over the years, the medical sector has rapidly shifted from paper-based to digitalized; it is projected to have better growth in the coming years. Advancing healthcare infrastructure, favorable government reimbursement, and increasing healthcare expenditure augment the population healthcare management market. Population health management improves patient delivery by lowering healthcare prices and may shift the focus to personalized medicine provides numerous growth opportunities for the market. The majority of population health management systems aggregate data using business analytics tools, enabling healthcare professionals to build a precise and accurate clinical picture of each patient.
Factors such as a lack of trained analysts, exchangeability issues, and data breaches on confidential patient information drastically reduce the population's Healthcare management market's growth. However, higher initial investments and a reluctance to adopt new technologies are expected to hamper the market growth.
Impact of COVID-19 on the European population health management market:
The COVID-19 pandemic has had a significant impact on the global population, and the European region has been severely affected; aged people face the most severe threats and challenges. While people of all ages are at risk of infection the COVID-19 virus, seniors are at a higher risk of experiencing severe illness due to physiological changes associated with aging and post medical problems. The COVID-19 has shown a positive impact on the Population healthcare management market in the European region. Post to the introduction of COVID-19, healthcare management has emerged as a viable option in the healthcare sector. The sudden emergence of SARS-COV-2 has rapidly increased the demand for population healthcare management. During the pandemic period, the growing burden on chronic disease and Focus on personalized medicines have uplifted the population healthcare management market in European countries. Moreover, governments are creating awareness programs, and manufacturers in the industry are launching new health management apps. Nonetheless, the market is anticipated to witness a healthy CAGR during the forecast period.
This research report on the Europe population health management market has been segmented & sub-segmented into the following categories.
By Component:
By Solution:
By Delivery Mode:
By End-User:
By Country:
Geographically, the European population health management market is estimated to account substantial share in the global market during the forecast period. The market is expected to grow due to technological advancements in healthcare IT, the adoption of blockchain technology, and improved population education. During the forecast period, the European population health management market is expected to grow at a CAGR of 24.04 percent.
In the recent past, the United Kingdom population health management market played a dominating role in the European market and is predicted to continue the trend throughout the forecast period. The adoption of the Affordable Care Act and hospital readmission rates reduction programs by the government in this country is projected to encourage market growth. Other factors such as the expansion of big data, machine learning, and cloud computing are projected to propel the United Kingdom population healthcare.
The German population health management market is one of the most promising countries in Europe, with the highest market share in population healthcare management. The country's market development is due to a particular focus on healthcare IT, the country's rapidly increasing healthcare sector, and the implementation of IT initiatives. Because of the active participation of key market participants, the market will continue to contribute to the growth of the European regional market.
The population health management market is expected to grow significantly in Spain, Italy, and the rest of the world. Adopting cutting-edge technologies in the healthcare industry, such as blockchain and government initiatives to improve healthcare infrastructure, is anticipated to push the sector's market growth.
KET MARKET PLAYERS:
Cerner Corporation, Allscripts Healthcare Solutions Inc., McKesson Corporation., International Business Machines Corporation (IBM), Health Catalyst, Koninklijke Philips N.V., Optum Inc., Conifer Health Solutions, LLC., Lumeris, ZeOmega, Healthagen LLC, Persivia, and UnitedHealth Group are a few of the companies expected to play a significant role in the APAC population health management market.
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