Global Population Health Management Market Expected to Reach Around USD 51.2 Billion by 2028 | Size and shares report

Overview of the population health management market

Global Population Health Management Market - Zion Market Research

Global Population Health Management Market – Zion Market Research

Global Population Health Management Market Size Analysis

Global Population Health Management Market Size Analysis

The global population health management market was worth around USD 24.7 billion in 2021 and is expected to grow with a CAGR of around 12.9% over the forecast period.

Asia-Pacific is expected to witness a high CAGR during the forecast due to increased spending in the healthcare sector by government agencies as well as market players – Healthcare Management Market Report population “

— Sion Market Research

SUITE N202, NEW YORK, USA, October 6, 2022 /EINPresswire.com/ — The the global population health management market is working on the pillars of a wide range of health activities involving curative and protective care and health-related promotional activities with the consistent delivery model. Some of the outcomes of a good population health management system are improved health status, increased population responsiveness, presence of equity and efficiency, and resilience of health systems . The huge need for capital to set up a robust PHM program can hamper the growth of the global market. Massive growth opportunities are expected in the global market owing to the increasing focus on personalized healthcare, while lack of data management capabilities due to unavailability of qualified analysts poses a major challenge to the growth of the global market. Key players operating in the global population health management market include Koninklijke Philips, Cerner Corporation, i2i Population Health, Epic Systems Corporation, Optum, Health Catalyst, eClinicalWorks, Enli Health Intelligence, IBM Corporation, Orion Health, Allscripts Healthcare Solutions, HealthEC LLC, Arcadia, athenahealth, Medecision, Cotiviti and NextGen Healthcare, Inc.

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Population Health Management Market: Industry Insights

Global Population Health Management Market was worth approximately USD 24.7 Billion in 2021 and is projected to reach circa USD 51.2 Billion by 2028, growing at a compound annual growth rate (CAGR) of approximately 12. 9% over the forecast period. The report analyzes the drivers, restraints/challenges for the Population Health Management market and their effect on the demands during the projection period. Additionally, the report explores the emerging opportunities in the population health management market.

Based on components, the population health management market is bifurcated into 2 segments: software and services. The dominance of the software segment can be attributed to the increasing use by payers and providers of software solutions to reduce readmissions, increase profitability, improve operational efficiency, promote patient engagement, and facilitate onboarding and data analysis. In terms of services, which frequently require renewal on a time basis, including service upgrades and maintenance of PHM programs, have been key to dominating these devices in the global market.

On the basis of 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 Readmission Reduction Program (aimed at reducing healthcare costs using new population health management solutions) in the United States, as well as strong demand for these solutions among healthcare providers across all regions, drive a large share of this segment.

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North America is expected to dominate the global population health management market owing to the growing geriatric population and number of chronic diseases in the region. According to a report published by the CDC, approximately 1 in 6 American citizens is expected to suffer from a chronic disease. The growing number of medical patients coupled with technological advancements in the region is expected to contribute to regional growth.

Asia-Pacific is expected to register a high CAGR during the forecast period owing to increased spending in the healthcare sector by government agencies as well as private market players. The Asia-Pacific market, which includes India, China, Japan, and the rest of Asia-Pacific, provides market players with high growth opportunities.

The rise of medical tourism, the implementation of new ICT guidelines in Japan, investments and reforms aimed at modernizing healthcare infrastructure in China, the rapidly growing healthcare industry in India and programs Australia and New Zealand are all driving growth. Furthermore, government initiatives to adopt HCIT, growing geriatric population, increasing prevalence of chronic diseases, rising healthcare expenditures, and rising consumer purchasing power are expected to support the growth of the market in this region.

RECENT DEVELOPMENTS

In March 2021, Phillips Healthcare (Netherlands) and openDoctor joined forces. As part of Philips’ patient management solution, this cooperation aims to create an integrated radiology patient interaction platform that utilizes openDoctor’s real-time online appointment scheduling capabilities.

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Population Health Management Market: Opportunities

Advanced analytics and predictive modeling applications to deliver growth opportunities to the global market

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

Population Health Management Market: Challenges

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

Only a few healthcare organizations have in-house experts capable of translating large amounts of data into valuable insights. One of the major impediments to the growth of the population health management market is the lack of data management capabilities and skilled analysts.

Large 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.

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Market segmentation by region

North America

United States
Canada

Europe

France
Great Britain
Spain
Germany
Italy
The rest of Europe

Asia Pacific

China
Japan
India
South Korea
South East Asia
Rest of Asia-Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East and Africa

GCC
South Africa
Rest of the Middle East and Africa

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