Population Health Management Market Size, Share, Trends, Growth 2032

Population Health Management Market: Industry Prospective

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.

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Population Health Management Market: Overview

Any hospital relies on its patients' health information. Technology adoption is accelerating in a variety of businesses. As a result, the efficiency of the organization is increasing. In numerous instances, patient information is disorganized. It leads to a host of problems in the medical area. This is where a population health management system can help by compiling and recording manageable patient data. It’s a business intelligence system that simplifies patient storage.

Government requirements and support for healthcare IT solutions, the growing use of big data analytics, and the need to curb escalating healthcare costs are the primary factors driving the growth of the population health management market. Furthermore, the expansion of emerging economies (such as Brazil, Russia, India, South Korea, and China), a growing emphasis on personalized medicine, and a growing emphasis on value-based medicine are expected to provide lucrative growth opportunities for market participants during the forecast period. However, data breaches, a shortage of experienced analysts, and interoperability concerns limit the market's growth.

COVID-19 Impact:

The COVID-19 pandemic is anticipated to notably widen the increase in the global population health management market. In various countries, the rising prevalence of COVID-19 has fueled the need for reliable diagnosis and treatment technologies. Population health management systems have proven to be highly effective in this regard. They let healthcare providers integrate EHR, patient management, and care management solutions with healthcare payer solutions such as claim management and payment management. Furthermore, the disease's rapid spread worldwide has resulted in lockdowns and limitations, driving up the need for electronic data sharing and claim handling. In the coming years, this is also projected to promote the adoption of population health management.

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Population Health Management Market: Opportunities

Advance analytics and predictive modeling applications to bring growth opportunities to the global market

Advanced analytics and predictive modeling applications enable healthcare organizations to treat each patient individually to achieve the best possible outcomes. Analytics have increasingly been used to personalize cancer and other disease treatments. In this regard, the UK's National Health Service (NHS) announced a five-year initiative to sequence the genomes of a large group of people. A new company called Genomics England Limited was formed to carry out this project, and a huge amount has been set aside for it. This project's findings will be applied to the treatment and research of cancer and other rare diseases.

Population Health Management Market: Challenges

The diversity & complexity of the population health management market may give rise to challenges for its growth

Only a few healthcare organizations have in-house experts who can translate large amounts of data into valuable insights. One of the significant barriers to the growth of the population health management market is a lack of data management capabilities and skilled analysts.

Major markets like Germany, the Netherlands, England, and Australia are also experiencing a severe shortage of HCIT professionals. During the forecast period, the population health management market is expected to be hampered by a lack of in-house IT experts as well as a trained workforce with cross-functional skills.

Report Scope:

Population Health Management Market: Segmentation

The global population health management market is segregated based on components and end users.

Based on components, the Population Health Management market is divided into 2 segments- software and services. The dominance of the software segment can be ascribed to payers' and providers' growing use of software solutions to reduce readmissions, boost cost-effectiveness, improve operational efficiency, promote patient engagement, and facilitate 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, the Population Health Management market is divided into 3 segments healthcare providers, healthcare payers, and other end users. The implementation of the Affordable Care Act and the Hospital Readmissions Reduction Program (aimed at lowering healthcare costs by using novel population health management solutions) in the United States, as well as the high demand for these solutions among healthcare providers across regions, account for a large share of this segment.

Population Health Management Market: Regional Landscape

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 programs 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.

Population Health Management Market: Competitive Landscape

Some of the main competitors dominating 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.

The 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 the Middle East & Africa