The global population health management market size was USD 18.5 Billion in 2022 and is likely to reach USD 64 Billion by 2031, expanding at a CAGR of 12.8% during 2023–2031. Growing demand for healthcare IT services is likely to boost the market.
Population health management (PHM) is a strategic approach to improving the health outcomes of a specific group or population. It involves the collection and analysis of health data for a particular population to identify health risks and health disparities and then designing and implementing interventions to improve health outcomes.
This approach takes into account a wide range of factors that affect health, including social determinants of health, such as education, income, and access to healthcare. It collaborates with PHM healthcare providers, public health officials, community organizations, and other stakeholders to address the health needs of the population.
Population health management (PHM) aims at improving health outcomes by focusing on prevention, early detection, and timely intervention, rather than simply treating illness after it has already occurred. By identifying and addressing the underlying causes of poor health outcomes, population health management leads to better health outcomes for entire communities.
The market report finds that the COVID-19 pandemic has impeded the population health management market. Shortage of hospital staff and limited availability of medical care, which is responsible for the effect on the market. Non-essential procedures were slowed due to the surge in COVID-19 cases.
Population Health Management Market Dynamics
Major Drivers
The increasing prevalence of chronic disorders is expected to drive the market. Around six to 10 adults suffer from chronic diseases in the US. Thus, patient record maintenance and surveillance are important, which in turn, is likely to fuel the market.
High demand for healthcare IT is boosting the market, due to the increasing need for better patient outcomes, which involves economic and therapeutic outcomes. Healthcare professionals obtain aggregated patient information, which they can use to improve treatment, thus driving the market. Moreover, increasing emphasis on personalized medicine and rising investments in research & development are expected to boost the market during the forecast period.
Existing Restraints
In developing countries, cybersecurity concerns and weak healthcare infrastructure is expected to hamper the market. Several information stored in the population health management systems were compromised, owing to data security problems. Moreover, the PHM healthcare infrastructure in developing countries is another factor hampering the market. The high cost of operating room equipment is restraining the market.
Emerging Opportunities
Increasing collaborations of market players is expected to create lucrative opportunities for the market players. Several companies are investing to develop and collaborating with other companies, which is expected to create lucrative opportunities for the market.
Scope of Population Health Management Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Population Health Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Component (Software and Services), Mode of Delivery (On-premise and Cloud-based), and End-user (Healthcare Providers, Healthcare Payers, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Population Health Management Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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MCKESSON CORPORATION; Verisk Analytics, Inc.; Health Catalyst; Oracle; Medecision; Xerox Corporation; Veradigm LLC; Fonemed; General Electric; HealthBI; NXGN Management, LLC.; Optum, Inc.; Conifer Health Solutions, LLC.; IBM; Koninklijke Philips N.V., and Siemens Healthcare GmbH
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Population Health Management Market Segment Insights
Component Segment Analysis
Based on component, the population health management market is divided into software and services. The software segment is expected to expand at a significant pace during the projection period, due to the increasing implementation of software solutions and growing implementation of software solutions by providers and players. The growth of the segment is attributed to the presence of population health management analytics for value-based care and strategic consulting.
Mode of Delivery Segment Analysis
On the basis of the mode of delivery, the global market is bifurcated into on-premise and cloud-based. The on-premise segment is projected to register a considerable CAGR during the forecast period due to the increasing number of benefits such as the reduced risk of breaches, solution personalization, and the ability to reuse current servers & storage infrastructure.
End-User Segment Analysis
In terms of end-user, the population health management market is segmented into healthcare providers, healthcare payers, and others. The healthcare providers segment is anticipated to expand at a high CAGR during the forecast period, due to the increasing advancements and technological investments in the medical sector. Rising incidences of chronic and acute cardiology and neurology cases in emerging countries is likely to boost the segment in the coming years.
The cloud-based segment is projected to hold a large market share in the coming years, owing to the low licensing and low cost of maintenance. Thus, a cloud-based population health management system provides enhanced productivity and fast & smooth implementation.
Regional Analysis
In terms of region, the global population health management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to the increasing prevalence of chronic disorders. The regional market growth is due to the expansion of the healthcare infrastructure and growing PHM healthcare costs.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, due to the increase in the geriatric population, rise in investment projects, and developments in the PHM healthcare infrastructure. High adoption of new ICT standards in Japan and increasing investments to modernize China’s medical infrastructure is boosting the market in the region.
Segments
The global population health management market has been segmented on the basis of
Component
Mode of Delivery
End-user
- Healthcare Providers
- Healthcare Payers
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- MCKESSON CORPORATION
- Verisk Analytics, Inc.
- Health Catalyst
- Oracle
- Medecision
- Xerox Corporation
- Veradigm LLC
- Fonemed
- Healthix
- General Electric
- HealthBI
- NXGN Management, LLC.
- Optum, Inc.
- Conifer Health Solutions, LLC.
- IBM
- Koninklijke Philips N.V.,
- Siemens Healthcare GmbH
Competitive Landscape
Key players competing in the global population health management market are MCKESSON CORPORATION; Verisk Analytics, Inc.; Health Catalyst; Oracle; Medecision; Xerox Corporation; Veradigm LLC; Fonemed; Healthix; General Electric; HealthBI; NXGN Management, LLC.; Optum, Inc.; Conifer Health Solutions, LLC.; IBM; Koninklijke Philips N.V., and Siemens Healthcare GmbH.
These key players employ various strategies including mergers, production expansion, acquisitions, partnerships, product launches, and collaboration to increase their consumer base worldwide.
- In November 2021, Healthix and The Garage announced a partnership, to launch a population health management platform for its relationship called municipal. Municipal is designed to meet the needs of value-based community care providers. It allows the participants to easily share, analyze the data, and their clinical information to better serve patients.
- In February 2021, Koninklijke Philips N.V. introduced the Philips Medical Tablet It is an end-to-end, easy-to-implement, portable monitoring kit designed to help clinicians remotely monitor large patient populations during emergencies.
- In March 2021, Koninklijke Philips N.V. announced a partnership with openDoctor. This partnership is to deliver an interrogated radiology patient engagement platform. It helps in patient radiology scheduling, automated communications, and education, with the use of connected mobile device.
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