Population Health Management Market Size to Surpass US$ 152.2 BN by 2029

The population health management market size is expected to surpass around US$ 152.2 billion by 2029 and growing at a CAGR 20.5% over the forecast period 2021 to 2030.

Patient data is tracked via a population health management system. A patient’s medical history must be known by any facility. The population health management system makes it easier to collect and store regulated patient data. It’s a business intelligence platform that streamlines the process of patient management. The usage of technology is rapidly expanding in many fields. As a result, the efficiency of the company is increasing. In numerous places, the patient data is disorganized. In the healthcare industry, it creates lots of new problems. The increased demand for better disease management techniques and the growing prevalence of chronic disorders are some of the factors propelling the growth of the population health management market over the projection period.

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A population health management system can help with clinical care as well as revenue creation. Thus, the approach is being widely adopted by healthcare providers. Moreover, there are a range of tools accessible, each with its own function in various care settings. For payers, patients, and insurers, these platforms help with data collection and optimizing healthcare funds. The population health management market’s progress has been aided by the widespread use of information technology solutions, notably in the areas of business intelligence and data analytics. The automobile company can remotely monitor patients, store data, and collect data due to the integration of information technology solutions. The global population health management market is expected to grow as a result of these factors during the forecast period.

Report Highlights:

• Based on the product, the services segment dominated the global population health management market in 2020 with highest market share. Analytics for value-based care as well as part of services segment. In terms of services, they are frequently need to be renewed after a set length of time, which may include service upgrades.  
• Based on the end use, the healthcare providers segment dominated the global population health management market in 2020 with highest market share. Healthcare providers are medical professionals who counsel patients and give diagnostic and therapeutic services such as medicine to aid in their recovery.
• North America is the largest segment for population health management market in terms of region. Due to the outstanding reimbursement methods, population health management systems will be in great demand. In the population health management market, the U.S. is the largest contributor over the projected period.
• Asia-Pacific region is the fastest growing region in the population health management market. This is attributed to the high rate of acceptance; the population health management market in Asia-Pacific region is growing at a rapid pace during the forecast period.

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Future of Population Health Management Market

Chronic illness is a major driving force in the market for population health management. In hospitals, patients seek treatment for chronic ailments. Patient record keeping and monitoring are critical in chronic illness cases. As a result of chronic illness, the need for high quality care has increased in recent years. Thus, the increased frequency of chronic diseases is providing attractive prospects for the global population health management market to develop in upcoming years.

COVID-19 Impact Analysis:

• Since the spread of COVID-19, the population health management market has taken a hit. To stop the virus from spreading, many governments are pursuing a variety of preventative steps.
• COVID-19 is becoming more common, which is increasing demand for treatment. During the epidemic, the population system is extremely helpful.

Key Developments in the Marketplace:

• Philips Healthcare joined with openDoctor in March 2021. As a part of population health management solution, this collaboration aims to create an integrated radiological patient interaction platform that uses openDoctor’s real time online appointment booking capabilities.
• Patient flow management solution was launched by Philips Healthcare in February 2021. This population health management solution provides complete remote information access and allows for a fully portable configuration in an emergency situation.
• Cerner acquired a health division of Kantar Group in December 2020. As it expands its data business, Cerner is expected to expand its offering in clinical research and population health.
• Allscripts sold its CarePort Health business to WellSky Corporation in October 2020. Hundreds of hospitals and thousands of post-acute care providers rely on CarePort technologies to effectively coordinate and transport patients across sites of care.
• Allscripts collaborated with Manorama Infosolutions in February 2020. The agreement between Allscripts and Manorama Infosolutions was formed to allow Manorama Infosolutions to integrate the Allscripts interoperability platform that is dbMotion Solution with the Lifeline Suite of solutions, allowing the company to expand its reach into global regions.

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