11242017Headline:

Lucrative Asia-Pacific Markets to Offer Significant Growth Opportunities for the Population Health Management Market in the Coming Years

Growth in the Population Health Management Market is likely to be centered on the Asia-Pacific region. This can be attributed to the implementation of a number of PHM programs to improve population health in Australia, growing medical tourism in Asia, rapidly growing healthcare industry in India, efforts taken to digitalize the healthcare system in China, investments and reforms to modernize China’s healthcare infrastructure, and new outline by Japan’s information and communication technology fund.

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The new outline on the healthcare sector by Japan’s information and communication technology fund has mandated the use of electronic medical records, development of HCIT and PHM platforms, and the creation of platforms (that can monitor pharmaceutical prescriptions and adverse events in real time) & claims databases. These changes indicate that Japan is now pursuing a PHM-based approach to enhance its healthcare system. To achieve these goals, the Japanese government invested USD 3.29 billion (JPY 367 billion) in 2007. It has also taken various initiatives such as the “e-Japan policy,” the “New IT Reform Strategy,” and the “iJapan Strategy 2015,” which encourage hospitals to adopt healthcare information technology and effectively manage the inflow of patients, lower hospital operational expenditure, and improve the quality of services.

The Indian healthcare industry is expected to reach USD 280 billion by 2020 (according to the Federation of Indian Chambers of Commerce and Industry). Factors such as changing demographics (such as the increase in aging population), rising healthcare awareness, and greater access to healthcare facilities are driving this growth. According to a report by the U.N., in India, the number of people aged 60 years and above is projected to reach around 300 million by 2050.

The Australian government has initiated the implementation of population health management programs. The “Get Healthy Service” is one such program that is offered to about 10 million people across five Australian states and territories. The aim of this program is to reduce the prevalence of chronic diseases in the country through changes in the lifestyle of citizens. Moreover, the NSW Ministry of Health through its NSW Population Health and Health Services Research Support (PHHSRS) Program provided funding to research organizations that undertake population health and health services research.

 

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