The global population health management software and services market is expected to skyrocket from $13.5 billion last year to over $28 billion by 2021, according to a new market report from Tractica.

Large-scale infrastructure investments in health information technology, technological advancements in big data analytics and the growth in health care consumerism are a few of the factors transforming the way health care is delivered globally.

“More organizations will invest in population health management software and services, particularly as the U.S. health care system transitions from one based on fee-for-service and volume of patients served, to one based on value, improvements in patient health, and associated decreases in health care costs,” Andrew Broderick, senior analyst at Tractica, said in a statement.

With a greater focus on health and financial outcomes, health care organizations are turning to these population health management software products and services. The services include outsourced care management, consulting, business services and implementation.

The software tools help them collect and analyze data to identify and stratify populations, coordinate and manage care and outcomes, and encourage members to play an active role in managing their care.

North America is leading the market, driven largely by the U.S., but the Asia Pacific region will sustain the fastest revenue growth. Europe accounts for the second largest share of the market, and that will remain throughout the forecast period.

A few of the key players in the market include IBM, Philips Wellcentive, Cerner, eClinicalWorks, Allscripts Healthcare Solutions, athenahealth, AxisPoint Health and Caradigm.

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