Global Population Health Management Market to grow to about USD 53.74 million by 2028

Population Health Management Market - Global Growth, Share, Trends, Demand and Analysis Report Forecast 2029

SUITE N202, NEW YORK, UNITED STATES, January 20, 2023 /EINPresswire.com/ -- The global population health management market was worth around USD 25.35 billion in 2021 and is estimated to grow to about USD 53.74 billion by 2028, with a compound annual growth rate (CAGR) of approximately 13.1 percent over the forecast period.

Population health management markets is a proactive approach to the first stage of health care also known as primary health care (PHC) where the main factors are driven by outreach and strong engagement with a specific community to provide the necessary care. Population health management can work effectively in the presence of an effective organizational structure, up-to-date information systems, and a blanched mix of efficient care providers.

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The global population health management market works on the pillars of a wide array of health activities involving remedial & protective care and promotional activities related to the heath with the coherent delivery model.

Some of the outputs of a good population health management system are improved health status, increased responsiveness of the people, presence of equity & efficiency, and resilience of health systems.

Covid-19 proved to be a testing time for the population health management systems worldwide. With the drastic increase in the number of patients requiring medical care, it became imperative to adopt technology in making the medical system work seamlessly in the face of multiple patients being enrolled in hospitals at one go.

Healthcare has proven to be one of the most critical sectors in today’s world. Apart from being a high revenue-generating sector in the global economy, it is one of the primary necessity-providing sectors as well. Every economy has been working consistently on improving its respective healthcare sector as it is a measure of how well the economy is growing. This has led to increased investments in medical care not just from the government's point of view but also from private companies. The sector has also witnessed a high adoption rate of technology for various applications like integrated data records and payment details. This is aided by the rising number of chronic and other medical cases globally. Since the number of patients requiring medical care has increased exponentially, it is the need of the hour to integrate health and technology. The advancement in technology as well as high funding in the healthcare sector is anticipated to propel the global population health management market during the forecast period. In addition, the global market is expected to expand because of changing preferences toward value-added payment models in the healthcare sector because VBP has proven to record higher revenue than the traditional fee-for-service model.

The huge requirement of capital to set up a robust PHM program may hinder the growth of the global market. Massive growth opportunities are expected in the global market owing to the increasing focus on personalized healthcare whereas the lack of data management capabilities due to the unavailability of trained analysts poses a major challenge to the global market growth.

Global Population Health Management market

The global population health management market is segmented based on component, mode of delivery, end-user, and region. Based on components, the market is segregated into software and services. By mode of delivery, the market is categorized into cloud-based and on-premise. The end-user segment of the market is divided into healthcare payers, healthcare providers, government bodies, and employer groups.

North America is expected to dominate the global population health management market owing to the rising geriatric population and the number of chronic illnesses in the region. As per a report published by the CDC, around 1 out of every 6 American citizens is anticipated to suffer from 1 chronic disease. The rising number of medical patients coupled with technological advancements in the region is anticipated to aid the regional growth.

Asia Pacific is projected to register a high CAGR during the forecast period owing to increased expenditure on the healthcare sector by government agencies along with private market players.

Key players functioning in the global population health management market include Koninklijke Philips, Cerner Corporation, i2i Population Health, Epic Systems Corporation, Optum, Health Catalyst, eClinicalWorks, Enli Health Intelligence, IBM Corporation, Orion Health, Allscripts Healthcare Solutions, HealthEC LLC, Arcadia, athenahealth, Medecision, Cotiviti, and NextGen Healthcare, Inc.

Recent Developments

In March 2021, Phillips Healthcare (Netherlands) and openDoctor have teamed up. As a component of Philips' Patient Management Solution, this cooperation aims to create an integrated radiological patient interaction platform that uses openDoctor's real-time online appointment booking capabilities.

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Global population health management market is segmented as follows:

By Component

Software
Services
By Mode of Delivery

On Premise Mode of Delivery
Cloud Based Mode of Delivery
By End Users

Healthcare Providers
Healthcare Payers
Other End Users
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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