European Population Health Management Market to Cross $4.7 billion by 2022

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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Although, the PHM market is largely concentrated in the U.S., emerging economies such as China, India and Brazil offer ample growth opportunities. Huge unexplored market in the Asia and other developing regions create huge revenue generation opportunities for PHM vendors. The healthcare industry is witnessing significant growth in these countries. In addition, the large population base and improving healthcare infrastructure create suitable platform for the penetration of PHM in these countries. Moreover, low healthcare cost in these regions is driving the medical tourism industry in these countries. The healthcare providers in these countries are depending on the electronic health records for tracking patient history. PHM programs offer better healthcare at lower cost for such patients. The governments in these countries are moving towards universal healthcare coverage, therefore, increasing the healthcare access in these countries. The rapid adoption of health analytics and development of healthcare information infrastructure in emerging economies would offer ample growth opportunities for the PHM market in the coming years.

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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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