Population Health Management Market: Global Industry Analysis and Forecast (2023-2029)

Population Health Management Market was valued at US$ 3.09 Bn. in 2022. Global Population Health Management Market size is expected to grow at a CAGR of 20 % through the forecast period.
Population Health Management Market Overview:
In a program called population health management, patient data are collected from multiple sources of health information technology. As a result, healthcare practitioners can analyze these compiled data to create a single, accessible patient record, which helps improve the clinical and financial outcomes of their patients. A business intelligence tool is typically used in population healthcare management programs to combine information, enabling healthcare providers to create an accurate and precise clinical picture of each individual patient.To know about the Research Methodology :- Request Free Sample Report

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis especially with the impact of lockdown by region.
Population Health Management Market Dynamics:
Market Trend:

Value-Based Payment (VBP) Model Usage in the Healthcare Sector to Boost Up the Market: Switch from fee-for-service (FFS) to value-based payment (VBP) in the healthcare market. Afterward, this is primarily due to the fact that organizations that effectively collect data and analyze population health data afterward are better able to coordinate and administer care. By doing this, these healthcare organizations and businesses are able to increase their revenue growth, which stimulates the growth of the market. Value-based payment is replacing traditional fee-for-service (FFS) reimbursement (VBP). In this method, clinicians ask health insurers for reimbursement after taking into account the whole quality of care delivered, including clinical outcomes.

A comprehensive approach to care is used in value-based care models, which calls for coordination and communication between clinicians in various disciplines, which community health management easily allow.

Increased prevalence of chronic illnesses: A major force driving population health management is a chronic illness. Long-term illnesses are treated in clinics by patients. Maintaining and monitoring patient records is essential in cases of chronic illness. Chronic illness has resulted in an increase in the development of more efficient treatment in recent years. Additional healthcare management services are needed due to the rise in treatment demand.

Market Drivers

growing emphasis on personalized medicine: Moreover, the growing emphasis on individualized treatments will present advantageous chances for population health management to advance (PHM). Businesses in the healthcare market can treat each patient individually using advanced analytics and predictive modeling tools, resulting in the best possible outcomes. Analytics are increasingly being utilized to customize the treatment of cancer and other diseases.

Additionally, the growing focus on value-based healthcare and the rise in emerging economies will provide more favorable conditions for the population health management (PHM) market's growth over the duration of the forecast period. The market's growth rate will also be boosted by technical development and the implementation of multiple government initiatives to promote health.

Demand for healthcare IT will be driven by the need for better clinical and financial outcomes for patients: The growing need for better patient outcomes, including powerful economic and therapeutic outcomes, is one of the most important driving forces in the market. Medical professionals can obtain aggregated patient data from many medical specializations thanks to population health management systems.

It also enables patients to experience cheaper treatment costs and enables clinicians to make better, more informed clinical decisions that improve treatment outcomes. This is particularly true in the current situation, where individuals have a variety of chronic illnesses like diabetes and heart disease. PHM allows clinicians to use a longitudinal care model, which can produce remarkably effective therapeutic results. This makes it possible for doctors to prevent costly, singularly unpredictable medical events induced by these chronic medical diseases.

These factors have caused market players to continually focus on innovating and launching fresh population health management software and solutions on the market. Healthcare institutions can provide patients with targeted care due to these services and software, which also helps their businesses save more money. A number of market players are also focusing on home healthcare, which also significantly aids doctors in making even better clinical judgments.

Market Restraints

Cybersecurity concerns and weak healthcare systems in developing nations could prevent the use of PHM: Despite the growing technical sophistication and accuracy, as well as the growing demand for patients to have better financial and clinical results, there are several challenges preventing community health management from becoming more widely used. Concerns about cyber security are one of the main things trying to hold back the market's growth. Numerous private information stored in population health management programs may be compromised due to data security problems. One of the main factors preventing the growth of the PHM market is the insufficient health infrastructure in underdeveloped countries, which further restricts the adoption of these programs.

Covid-19 Impact: The COVID-19 outbreak has put medical practices of all kinds under a lot of stress, and healthcare institutions all across the world have been overwhelmed by the large number of patients who see them frequently. The rising incidence of COVID-19 across the country has increased the demand for effective diagnostic and therapeutic tools. Systems for population health management have proven to be quite helpful in this case since they make it simple for healthcare providers to combine EHR, patient management, and care management solutions with solutions from health insurers including claim management and payment management.
Population Health Management Market Segment Analysis:
Based on Component, this market is divided into software and services based on component. In 2022, the market share for population health management was dominated by the services sector. Analytics for value-based care and, in some cases, strategic consulting are included in the services section. In terms of the services, which frequently need to be updated on a regular basis and comprise service upgrades and PHM program maintenance, have been crucial to the dominance of these devices in the market.

The forecast period is expected to see a lower CAGR for the software segment. During the forecast period, it is expected that the purchase of new PHM programs by healthcare institutions and rising acceptance in emerging economies would fuel demand for this segment and drive the population health management market's growth.

Based on the End-User, the segment of healthcare providers will continue to dominate during the forecast period. The market is divided into healthcare payers, healthcare providers, and other end users based on end users. Due to the higher prevalence of neurology, cardiology, and other illnesses in established and emerging countries, which is attracting a sizable patient pool suffering from chronic and acute conditions, healthcare providers is expected to be the leading segment in the forecast period. It is believed that the increasing adoption of PHM programs would be accelerated by the increasing number of patients. The segment's second-highest market revenue share throughout the forecast period is mostly due to an increase in healthcare payers and shifting reimbursement patterns.

Based On Platform, Cloud-based Population Health Management's Remote Accessibility to Support Segment Dominate. the market is divided into two categories based on platform: cloud-based and on-premise. Programs for population health management that are cloud-based can be accessed online without the involvement of healthcare management. This makes population health management effectively accessible across a range of specialties and healthcare organizations. Therefore, the key driver of cloud-based platform segment domination in the market is the shown efficacy of cloud-based population health management in-home healthcare, together with easy data accessible across numerous platforms.

In terms of platform, one other important segment is on-premise. During the forecast period, the segment's growth rate is expected to be driven by the on-premise platform's increased security and higher customization flexibility for PHM solutions.
Regional Insights:
In North America, the PHM market size was 15.84 billion USD in 2022. An advanced healthcare infrastructure and greater adoption of healthcare IT, together with the presence of major market players and their products in the region, are characteristics of the region's larger market share. These elements, together with a greater patient population understanding of population health management and the region's growing rapidly home healthcare market, account for the region's dominant market share . During the forecast period, a relatively higher CAGR is expected to be achieved in the markets in Europe and Asia-Pacific.

The objective of the report is to present a comprehensive analysis of the global Population Health Management Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Population Health Management Market dynamic, structure by analyzing the market segments and projecting the Population Health Management Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Population Health Management Market make the report investor’s guide.
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Global Population Health Management Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 30.96 Bn.


Forecast Period 2023 to 2029 CAGR:
20%
Market Size in 2029:
US$ 11.09 Bn.


 Segments Covered:
by Component
Services
Software


by Platform
Cloud-based
On-Premise


by End-User
Healthcare Providers
Healthcare Payers
Others



Population Health Management Market by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. Athena health, Inc (US)
2. Cerner Corporation (US)
3. Medecision (US)
4. Xerox Corporation (US)
5. Allscripts Healthcare, LLC (US)
6. Fonemed (Canada)
7. Well Centive, Inc. (US)
8. General Electric Company (US)
9. HealthBI (US)
10. NXGN Management, LLC (US)
11. Optum Inc. (US)
12. i2i Population Health (US)
13. Conifer Health Solutions, LLC (US)
14. IBM (US)
15. Koninklijke Philips N.V. (Netherlands)
16. Siemens Healthcare GmbH (Germany)
17. Arthrex (US)

Frequently Asked Questions:

1] What segments are covered in the Global Population Health Management Market report?
Ans. The segments covered in the Population Health Management Market report are based on Component , Platform and End User.

2] Which region is expected to hold the highest share in the Global Population Health Management Market?
Ans. The North America region is expected to hold the highest share in the Population Health Management Market.

3] What is the market size of the Global Population Health Management Market by 2029?
Ans. The market size of the Population Health Management Market by 2029 is expected to reach US$ 11.09 Bn.

4] What is the forecast period for the Global Population Health Management Market?
Ans. The forecast period for the Population Health Management Market is 2023-2029.

5] What was the market size of the Global Population Health Management Market in 2022?
Ans. The market size of the Population Health Management Market in 2022 was valued at US$ 3.09 Bn.