The Population Health Management Market Is Estimated To Record a CAGR of Around 13.1% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Population Health Management Market, 2023–2033. The global Population Health Management market is projected to exhibit a CAGR of around 13.1% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Population Health Management Market: Cerner Corporation, Allscripts Healthcare, LLC, Deloitte Touche Tohmatsu Limited, GE Healthcare (General Electric Company), International Business Machines Corporation (IBM), Koninklijke Philips N.V., McKesson Corporation, UnitedHealth Group, Medecision, and Others.
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Market Highlights
The Population Health Management market is projected to be valued at USD 219.18 Billion by 2033, recording a CAGR of around 13.1% during the forecast period. Population Health Management (PHM) refers to the collection, analysis, and management of patient data from various sources to improve healthcare outcomes and reduce costs. It involves the use of healthcare IT solutions, including software and services, to identify and manage at-risk patients and provide proactive care. The COVID-19 pandemic has had a significant impact on the PHM market, as healthcare organizations have had to rapidly adopt new technology solutions to manage the virus’s spread and provide remote care to patients. The pandemic has highlighted the importance of PHM in addressing public health crises and improving healthcare outcomes. As a result, there has been an increased demand for PHM solutions that can support remote monitoring, data analytics, and population health management during the pandemic and beyond. PHM solutions have been used to track and monitor COVID-19 cases, provide telemedicine services, and manage chronic conditions remotely to reduce the risk of exposure. The pandemic has also led to an increased focus on health equity and the need to address disparities in healthcare access and outcomes. PHM solutions can play a critical role in addressing these disparities by identifying and managing at-risk populations and providing targeted interventions.
Segmental Analysis
The global Population Health Management market has been segmented based on Component, Platform, End-user, and region.
Based on Components, the Population Health Management market is segmented based on Software, and Services. the market is segmented based on Software, Services. the software segment is expected to hold the largest share of the market. This is due to the increasing adoption of healthcare IT solutions, the rising demand for integrated healthcare systems, and the need to reduce healthcare costs.
Based on the Platform, the market has been divided into On-premise, Cloud-based. The Cloud-based segment is expected to hold the largest market share in the Market, Cloud-based software solutions offer advantages such as cost-effectiveness, easy accessibility, and scalability.
Based on End-user, the market has been divided into Healthcare Providers, Healthcare Payers, and Others. the healthcare providers segment is expected to hold the largest share of the Population Health Management market. This is attributed to the growing need for cost-effective healthcare delivery and better patient outcomes.
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Regional Analysis
The Population Health Management market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America and Europe are the largest markets for Population Health Management due to several factors. In North America, the presence of advanced healthcare IT infrastructure, increasing healthcare spending, and government initiatives to improve healthcare outcomes and reduce healthcare costs have contributed to the growth of the PHM market. Moreover, the high prevalence of chronic diseases, such as diabetes, cancer, and heart disease, has led to a greater demand for PHM solutions in the region. In Europe, the growing elderly population and increasing prevalence of chronic diseases has created a need for more advanced healthcare management solutions, including PHM. The region’s advanced healthcare IT infrastructure and high healthcare spending have also contributed to the growth of the PHM market.