Population Health Management Solutions Market Trend- Rapid Adoption of Advanced Technologies Such as Artificial Intelligence, Data Science in the Healthcare Industry
Rising incidence of various acute and chronic diseases, increasing need for advanced solutions for managing large patient data, and high focus on improving overall healthcare outcome are some key factors expected to drive global Population Health Management Solutions market growth.
According to Emergen Research, the global population health management solutions market size was USD 21.63 billion in 2019 and is expected to reach USD 48.64 billion in 2027 and register a steady revenue CAGR of 11.3% during the forecast period, 2020-2027.
Population health management is a patient-centric approach that allows healthcare professionals and clinicians to make informed decisions based on the available patient information in order to improve the quality of care, reduce cost of care and improve overall health of the population. There has been a dynamic change in the patient management systems in the recent past, due to improving healthcare infrastructure and rapid adoption of IT services in the healthcare sector. Population health management solutions enable care coordination, data aggregation, risk stratification, along with patient communication.
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Factors such as government initiatives and mandates for healthcare IT solutions, rapid adoption of population health management solutions across hospitals, ambulatory care centers, clinics, and home healthcare services, increasing use of big data analytics, and rising investments in developing advanced solutions and tools are expected to drive global market growth.
However, high initial investments, rising concerns about data breaching, and lack of skilled analysts and technicians are some key factors that can hamper overall market growth to a certain extent going ahead.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Software Segment To Register Rapid Revenue CAGR:
The software segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to increasing demand for advanced software and solutions among healthcare providers to reduce readmissions and improve overall operational efficiency, rising availability of various population health management software, and increasing investments in developing advanced software.
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Healthcare Providers Segment to Account for Largest Revenue Share:
The healthcare providers segment is expected to account for largest revenue share during the forecast period. This can be attributed to increasing patient admissions, rising need for managing large patient databases, rapid adoption of advanced services and solutions in medium to large scale hospitals, ambulatory care centers, clinics, and diagnostic centers, and growing number of home healthcare agencies, nursing homes, and assisted living facilities across the globe.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period owing to increasing patient pool, rising need for reducing healthcare expenditure, and growing adoption of population health management across various healthcare centers. In addition, rising government initiatives to promote population health management solutions and increasing R&D investments are expected to drive North America market growth during the forecast period.
Major Companies in the Market Include:
- Epic Systems Corporation
- I2I Population Health
- Cerner Corporation
- Koninklijke Philips
- Allscripts Healthcare Solutions
- Enli Health Intelligence
- IBM Corporation
- Health Catalyst
- HealthEC, LLC
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For the purpose of this report, Emergen Research has segmented into the global population health management solutions market on the basis of component, mode of deployment, end-user, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
- Post-Sale and Maintenance Services
- Consulting Services
- Training and Education Services
- Implementation Services
Mode of Deployment Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Healthcare Providers
- Ambulatory Care Centers
- Hospitals, Physician Groups, and Integrated Delivery Networks
- Diagnostic and Imaging Centers
- Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
- Other Healthcare Providers
- Healthcare Payers
- Public Payers
- Private Payers
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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