05-May-2022 | Zion Market Research
The global population health management market was worth around USD 24.7 billion in 2021 and is estimated to grow to about USD 51.2 billion by 2028, with a compound annual growth rate (CAGR) of approximately 12.9% percent over the forecast period. The report analyzes the population health management market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the population health management market.
Any hospital relies on the health information of its patients. The adoption of technology is increasing rapidly across various industries. As a result, the organization's efficiency is growing. Patient information is disorganized in several areas. It causes a slew of issues in the medical field. This is where the population health management system comes in to help compile and record manageable patient data. It is a business intelligence solution that makes patient storage simple.
The key factors driving the growth of the population health management market are government mandates and support for healthcare IT solutions, increased use of big data analytics, and the need to contain escalating healthcare costs. Furthermore, the growth of emerging economies (such as Brazil, Russia, India, South Korea, and China), the growing emphasis on personalised medicine, and the increasing focus on value-based medicine are expected to provide lucrative growth opportunities for market participants during the forecast period. However, data breaches, a lack of skilled analysts, and interoperability issues all impede the growth of this market.
Based on component, Population Health Management market is divided into 2 segments- software and services. Software segment's dominance can be attributed to payers' and providers' increased adoption of software solutions to reduce readmissions, increase cost-effectiveness, improve operational efficiency, improve patient engagement, and aid data integration and analysis. In terms of services, which frequently require renewal on a time-based basis, including service upgrades and the maintenance of PHM Programs, have been essential in dominating these devices in the global market. Based on end-user, Population Health Management market is divided into 3 segments: healthcare providers, healthcare payers, and other end users.
During the forecast period, the CAGR for the software segment is expected to be lower. Purchases of new PHM programmes by healthcare institutions, as well as increased usage in emerging regions, are expected to boost demand for this category and drive population health management growth throughout the projection period.
Population health management solutions are delivered to end-users via on-premises and cloud-based delivery methods. Advantages, such as solution customization, reduced risk of data breaches, and the ability to reuse existing servers and storage hardware, are the main reasons that are leading to the adoption of on-premises delivery in the population health management market.
North America leads the global population health management market because of growing federal healthcare and rising government initiatives. The Asia Pacific market, which includes India, China, Japan, and the rest of Asia Pacific, provides market participants with high-growth opportunities.
Rising medical tourism, the implementation of new ICT guidelines in Japan, investments, and reforms to modernize China's healthcare infrastructure, India's rapidly growing healthcare industry, and IT programmes in Australia and New Zealand are all driving growth. Furthermore, government initiatives to adopt HCIT, the growing geriatric population, the rising prevalence of chronic diseases, rising healthcare expenditure, and increasing consumer purchasing power are expected to support market growth in this region.
Key players functioning in the global population health management market include Cerner Corporation, Epic Systems Corporation, Koninklijke Philips, i2i Population Health, Health Catalyst , Optum, Enli Health Intelligence , eClinicalWorks, Orion Health, Allscripts Healthcare Solutions , IBM Corporation, HealthEC LLC , Medecision, Arcadia, athenahealth (US), Cotiviti, NextGen Healthcare, Inc., Conifer Health Solutions , SPH Analytics, Lightbeam Health Solutions, Innovaccer , Citra Health Solutions, Evolent Health, Inc., Lumeris, and Forward Health Group.
Browse the full “Population Health Management Market By Component (Software and Services), By Mode of Delivery (On Premise and Cloud Bases), By End Users (Health Care Providers, Health Care Payers and Other End Users), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/population-health-management-market
Global population health management market is segmented as follows:
By Mode of Delivery
By End Users
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