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Global Population Health Management Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented Component, Solution, Delivery mode, End-user & Region (North America, Europe, APAC, Latin America & MEA) – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 10355
Pages: 180
Formats: report pdf report excel report power bi report ppt

Population Health Management Market Size (2022 to 2027)

The global population health management market is forecasted to grow at a CAGR of 11.5% between 2022 to 2027. The size of the market is predicted to be worth USD 39.4 Billion By 2027 from USD 22.8 billion in 2022.

Population health management is a system in the healthcare sector. The system is designed to help healthcare clinics and professionals provide better services to the patient population. The process analyses all the clinical data to find gaps in healthcare. It relates to the economics of the healthcare industry to provide the patients with the best service in an economically manageable environment. Looking at each patient's data and adequately analyzing it to create better overall wellness in the population. 

The process aims at providing patients with a more accessible and affordable means of treatment with improved insurance and reimbursement policies, reducing the number of readmissions, and ensuring that only the appropriate and required amounts of medicine are allowed to patients. Data governance, data analysis, predictive analysis, and business analytics are all used to imply population health management. In addition, the procedure aims to improve the efficiency of clinics, mitigate costs, and prevent chronic diseases by increasing awareness about general healthy lifestyles. 

Impact of COVID-19 on the global population health management market:

The COVID-19 pandemic had a different impact on various sectors of the world. All the countries around the world-imposed lockdowns and quarantines to stop the spread of the virus. One of the most severely affected sectors was the healthcare department. Increasing cases of Covid-19 pushed back all the other necessary healthcare requirements and postponed many surgeries and diagnoses. The lack of enough healthcare professionals led to the focus on the pandemic and the treatment of those affected by the virus. This lack of resources leads to an increment in the population management market.

There was now an ever more need for devices measuring the effective ways of patient treatment, EMR, HER, and HCIT (healthcare I.T. solutions) practices to improve healthcare services amidst the emergency. The telediagnosis and electronic data transfer methods of PHM were encouraged and needed. Patient data analysis, proper care, claim management, and a better understanding of crises and situations are required to improve healthcare services. Therefore, the pandemic has had a positive effect on the growth of the population healthcare management market. 

MARKET DRIVERS:

The growing government initiatives and the need to approach new personal healthcare techniques due to a rise in preference towards personalized medicine and rising chronic diseases due to the increasing geriatric population and sedentary lifestyle worldwide and improving economies within countries like China are helping the market prosper. Additionally, the rising investments in the field of PHM in an increasingly digitalizing and urbanizing world are pushing the market forward. Furthermore, increasing demand for I.T. Healthcare systems and value-based payment models and the aftermath of the outbreak of COVID-19 are expected to surge market growth.

Reducing medical costs and improving patient care drive the population health management market growth.

The increasing demand for better reimbursement programs and cost-efficient treatment plans drives the market's growth. Furthermore, the growing need for better healthcare systems around the world increases the need for data aggregation, risk stratification, care coordination, patient communication, etc., and the increased cost of treatments and hospital expenses are being countered by adopting effective PHM methods.

Moreover, according to the U.N. Population Division, By 2030, healthcare costs will rise by 25% if current trends continue, mainly due to an aging population.

The U.S. is currently having difficulty containing the soaring healthcare cost. In 2019, healthcare made up 17.7% of the US GDP; by 2035, this percentage is predicted to rise to 26.0 percent. Therefore, there is an increasing need to minimalize the costs driving the market's growth.

MARKET RESTRAINTS:

The lack of skilled professionals, data breaches, and interoperability issues severely hinder the market. The market is also restrained because of the high budget and investments required for equipment and infrastructure to perform accurate data analysis through PHM.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Component, Solution, Delivery Mode, End-User, And Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This research report on the global population health management market has been segmented and sub-segmented based on the component, solution, delivery mode, end-user, and region.

Population Health Management Market - By Component:

  • Hardware
  • Software
  • Services
    • Consulting Training & Education
    • Post-Sale & Maintenance Services
    • Others

Based on the component, the services segment dominated the population health management market in 2020. The services segment surrounds analytics for value-based care. It often requires renewal on a specific time basis, which involves upgrading the services and maintenance of the PHM programs.

Population Health Management Market - By Solution:

  • Analytics
    • Predictive Analytics
    • Point Of Care Decision Support
    • Others
  • Care Coordination
    • Care Management Workflow Automation
    • Care Team Coordination
    • Real-Time Alerting
    • Others
  • Patient Engagement
    • Multi-Modal Communication
    • Monitoring & Compliance
    • Treatment Plan
    • Remote Monitoring
    • Others
  • Data Integration and Management
    • Data Warehousing
    • Real-Time Data Exploration
    • Clinical Data Integration
    • Financial Data Integration
    • Data Warehousing
    • Others

Based on the solution, the data integration & management segment led the population health management market worldwide with the largest share in 2021. Rising awareness of health and fitness applications propels this segment's growth rate. Furthermore, growing support from the government through investments is also likely to fuel the market's growth. As a result, the patient engagement solutions segment is predicted to register a substantial market share during the forecast period. In addition, the growing prevalence of remote monitoring treatment services during the COVID-19 pandemic escalates the market's growth rate.

Population Health Management Market - By Delivery Mode:

  • Web-Based
  • Cloud-Based
  • On-Premise
  • App-Based

Based on the delivery mode, the cloud-based segment has held the largest market share during the forecast period. The adoption of cloud-based management processes in the healthcare sector to reduce storage difficulties significantly influences the market's demand. This authorizes the effective accessibility of population health management over diverse specialties and healthcare institutions.

Population Health Management Market - By End-User:

  • Healthcare Providers
  • Healthcare Payers
  • Government Organizations
  • Others

Healthcare providers have a significant share in the population health management market based on the end-user. ACA implementation and hospital readmissions reduction program in the U.S. has attributed the largest share in this market. As a result, PHM solutions are having high demand among healthcare providers.

Population Health Management Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

In 2021, North America held the most significant share of the population health management market globally. The market in North America is anticipated to grow due to factors including expanding federal healthcare mandates to reduce the rising healthcare costs, expanding regulatory requirements, increasing adoption of EHRs, and expanding government initiatives focusing on personalized medicine and value-based reimbursements. The American Heart Association estimates that worldwide, cardiovascular illnesses will result in 17.3 million annual deaths. Furthermore, it is predicted that by 2030, there will be an additional 23.6 million instances. Additionally, the U.S. government contributed USD 1,844 billion, or almost 8.8% of the GDP, to public health improvement in March 2021. President Trump signed about USD 868 billion worth of legislation to combat the coronavirus.

Market participants have access to lucrative high-growth possibilities in the Asia Pacific region, which includes Japan, China, India, and the rest of the region. Therefore, this geographical category is anticipated to have the most significant CAGR during the projected period.

TOP COMPANIES IN THIS MARKET:

Companies that are playing a dominating role in the global population health management market analyzed in this report are Cerner Corporation, Allscripts Healthcare Solutions Inc., McKesson Corporation., International Business Machines Corporation (IBM), Health Catalyst, Koninklijke Philips N.V., Optum Inc., Conifer Health Solutions, LLC., Lumeris, ZeOmega, Healthagen LLC, Persivia and UnitedHealth Group.

RECENT MARKET DEVELOPMENTS:

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FAQ's

How much was the value of the global population health management market in 2021?

The global population health management market size was valued at USD 20.5 billion in 2021.

Which segment by solution led the population health management market in 2021?

The data integration and management segment accounted for the most leading share in the global population health management market in 2021.

What is the projected value of the population health management market in North America by 2027?

The North American population health management market is estimated to value USD 13.05 billion by 2027.

Who are the key players in the population health management market?

Cerner Corporation, Allscripts Healthcare Solutions Inc., McKesson Corporation., International Business Machines Corporation (IBM), Health Catalyst, Koninklijke Philips N.V., Optum Inc., Conifer Health Solutions, LLC., Lumeris, ZeOmega, Healthagen LLC, Persivia and UnitedHealth Group are major participants in the population health management market.

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