Population Health Management Market Overview
Population Health Management Market Size is expected to reach USD 219.18 Billion by 2033. The Population Health Management industry size accounted for USD 63.6 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 13.1% from 2023 to 2033. Population Health Management (PHM) is a systematic and data-driven approach that enables healthcare providers to improve patient health outcomes and reduce healthcare costs. It involves the use of technology and data analytics to identify high-risk patients, provide targeted interventions, and track their progress over time. The goal of PHM is to improve the health outcomes of populations by addressing the underlying social determinants of health and promoting health equity.
COVID-19 Impact and Post-COVID Scenario
The COVID-19 pandemic has significantly impacted the healthcare industry, including the population health management market. The pandemic has brought population health management to the forefront of healthcare delivery as it aims to provide preventive and proactive care to the population. During the pandemic, there has been an increased need for remote patient monitoring, telemedicine, and virtual consultations. The use of population health management solutions has enabled healthcare providers to deliver care remotely, monitor patients’ health status, and identify high-risk individuals. The COVID-19 pandemic has accelerated the adoption of digital health technologies, including population health management solutions. Post-COVID, the demand for population health management solutions is expected to continue to grow as healthcare providers focus on improving population health outcomes, reducing healthcare costs, and improving patient engagement. The pandemic has highlighted the need for preventive and proactive care, which can be achieved through population health management solutions.
Global Population Health Management Market Growth Factors
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Emerging Value-Based Care Models as a Driving Factor for PHM Market
Value-based care models are a new approach to healthcare delivery that prioritizes quality of care over quantity of services provided. These models incentivize healthcare providers to improve patient outcomes and reduce costs by offering financial rewards for meeting certain performance metrics. Value-based care models are a major driving force behind the growth of the PHM market, as they require healthcare providers to adopt data-driven approaches to patient care. By focusing on the underlying social determinants of health and promoting health equity, value-based care models are helping to improve patient outcomes and reduce healthcare costs.
Global Population Health Management Market Restraining Factors
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Lack of Interoperability as a Restraining Factor for the PHM Market
Despite the growing demand for PHM solutions, several challenges could hinder their adoption. One of the biggest challenges is the lack of interoperability between different healthcare IT systems. Many healthcare providers use multiple IT systems to manage patient data, which can make it difficult to share information across different platforms. This lack of interoperability can lead to gaps in patient care and make it difficult for healthcare providers to implement PHM solutions.
Global Population Health Management Market Opportunity Analysis
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The rising prevalence of chronic diseases
The global population health management market is expected to experience significant growth in the coming years. The rising prevalence of chronic diseases, increasing healthcare costs, and the need for better quality healthcare services are some of the major factors driving the growth of the population health management market. Additionally, the growing focus on value-based healthcare, increasing adoption of healthcare IT solutions, and government initiatives to promote population health management are also expected to fuel market growth.
Global Population Health Management Market Segment Analysis
The software segment is expected to hold the largest share of the market in 2023
Based on the Component, 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. Population health management software provides various functionalities such as data management, care coordination, patient engagement, and analytics.
The Cloud-based segment is expected to hold the largest market share in 2023
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, which are expected to drive the growth of this segment in the coming years.
The Hospitals segment is expected to hold the largest market share in 2023
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, which has led to the adoption of population health management solutions by healthcare providers.
Global Population Health Management Market Regional Analysis
Based on region, the market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The area of North America is anticipated to dominate the market for the usage of Population Health Management, followed by those in Europe and Asia-Pacific.
Regional Coverage:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Australia
- Malaysia
- Thailand
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
North America Market
North America is currently the leading market for Population Health Management (PHM), owing to the presence of advanced healthcare IT infrastructure, high healthcare spending, and favorable government initiatives promoting the adoption of healthcare IT solutions. The United States, in particular, is the largest market for PHM in North America, with several companies based in the region offering PHM software and services to healthcare providers and payers. Additionally, the increasing focus on value-based care and the shift towards preventative healthcare models are driving the demand for PHM solutions in the region.
Asia Pacific Market
The Asia-Pacific region is expected to have the fastest compound annual growth rate (CAGR) for the Population Health Management (PHM) market globally. This is due to the increasing prevalence of chronic diseases in the region, rising healthcare expenditure, and growing demand for healthcare IT solutions. Governments in countries such as China and India are implementing various initiatives to improve healthcare outcomes and reduce healthcare costs, which is driving the growth of the PHM market in the region. Additionally, the increasing adoption of mobile health technologies and the presence of a large patient pool are also contributing to the growth of the PHM market in the Asia-Pacific region.
Competitive Landscape
The competitive landscape includes key players (tier 1, tier 2, and local) having a presence across the globe. Companies such as Cerner Corporation, Allscripts Healthcare, LLC, Deloitte Touche Tohmatsu Limited, and GE Healthcare (General Electric Company) are some of the leading players in the global Population Health Management Industry. These players have adopted partnership, acquisition, expansion, and new product development, among others as their key strategies.
Key Market Players:
- 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
- Others
Market Share Acquisition Strategies: Analysis of Key Approaches Employed by Top Players
In 2020, Cerner Corporation launched a new PHM solution called Cerner Intelligence, which uses artificial intelligence and machine learning to predict patient health outcomes.
In 2021, Allscripts Healthcare Solutions announced a partnership with Eon Health, a Medicare Advantage plan, to provide PHM solutions to high-risk patients.
Report Scope:
Global Population Health Management Market, by Component
- Software
- Services
Global Population Health Management Market, by Platform
- Cloud-based
- On-premise
Global Population Health Management Market, by End-user
- Healthcare Providers
- Healthcare Payers
- Others
Population Health Management Market Synopsis:
| Parameters | Values |
|---|---|
| Market Size | 2023: USD 63.6 Billion; 2033: USD 219.2 Billion |
| Growth Rate | First 5 Years CAGR (2023–2028): XX% Last 5 Years CAGR (2028–2033): XX% 10 Years CAGR (2023–2033): 13.1% |
| Key Market Drivers | The growing prevalence of chronic diseases; Increasing healthcare costs |
| Key Market Restraints | The lack of interoperability between different healthcare IT systems; The high cost of implementing PHM solutions. |
| Market Opportunities | Â The rising prevalence of chronic diseases |
| Key Market Players | 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. |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Population Health Management Industry trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities analysis in the future
- Historical market size for the year 2021, and forecast from 2023 to 2033
- Population Health Management market share analysis for each segment
- Competitor analysis with a comprehensive insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted by the key players including new product development, mergers and acquisitions, joint ventures, collaborations, and partnerships.
- To identify and understand the various factors involved in the global Population Health Management market affected by the pandemic
- To provide year-on-year growth from 2022 to 2033
- To provide short-term, long-term, and overall CAGR comparison from 2022 to 2033.
- Provide Total Addressable Market (TAM) for the Global Population Health Management Market.
