Population Health Management Market Size To Surpass USD 184.51 Bn By 2030

The global population health management market size is estimated to surpass around USD 184.51 billion by 2030 from USD 41.25 billion in 2022, growing at a CAGR of 20.5%.

Population health management is the process of enhancing the health of a group of people through proper care coordination and healthcare management supported by financial and care models. For instance, the AHA is determined to help hospitals to expand their capabilities and to assist them in meeting the needs of patients and families. It offers comprehensive and authoritative strategies to fulfil the cause. Before, medicine used to focus on a particular person. Population health management broadens our focus by expanding efforts across entire populations and boosting the reason for chronic condition management and prevention. To cure population health issues, we have to figure out the root cause of these issues. It monitors and identifies every single person in a group. It uses a business intelligence (BI) tool to gather the patient's data and offer detailed health information. Doctors can track and improve health outcomes by using this aggregated data.

Get the Sample Copy Of This Report@ https://www.precedenceresearch.com/sample/1091

PHM collects clinical, financial, and operational data from the business and offers actionable analytics for doctors to improve efficiency and patient care. It requires robust care management and risk stratification infrastructure, a cohesive delivery system, and a well-managed partnership network. A good PHM program gives real-time details to doctors and administrators and assists them in identifying and addressing care gaps within the patient population. A best care management program is the solution to excellent outcomes and costs savings, especially for entire people with chronic illness. Care management is an essential element of population health management, and the goals of care management are centred on enhancing patient self-management, medication management, and lowering care costs.

Growth Factors

The healthcare industry is witnessing a significant change from paper-based to digitalization, catalyzing the demand for healthcare IT services. Furthermore, the rising demand for solutions boosting value-based care management by clinicians and administrators has resulted in a shift from Fee-For-Service (FFS) to Value-Based Payment (VBP) models. In addition, the increasing demand for better illness management strategies significantly contributes to global market growth. Due to the COVID-19 pandemic, hospitals are under pressure, and the medical industry is seeing a growing number of patients.

The rising frequency of Covid cases has surged the need for better diagnostic and treatment equipment. Population Health Management has come to the rescue by enabling hospitals to integrate electronic medical records, care management, patient management and healthcare payer solutions. Furthermore, this program helps to reduce medical costs and provide better care to patients. In addition, the nationwide lockdown has resulted in a growing demand for electronic data transfer. This is expected to influence market growth worldwide positively.

Population Health Management Market Report Scope

Report Highlights

• By product type, the service segments hold the most significant number of shares in the market. Healthcare organizations prefer in-house solutions & systems to avoid the participation of third parties in monitoring a patient's data. Increasing demand for integrated medical systems is catalyzing the population health management market. With rising healthcare expenses, multiple players are heavily investing in research and development activities to launch innovative products for assisting hospitals. On the other side, the software segment contributes significantly to market growth and is expected to grow further in the coming years. This growth is attributed to healthcare organizations' increasing demand for software solutions to escalate cost-effectiveness, lower readmissions, improve patient engagement and operational efficiency, and help in data analysis and integration.
• By end-use type, healthcare providers are dominating the population health management market. PHM improves the healthcare outcomes of the hospitals by offering them better care management that results in lowered in-patient stay at hospitals. Hence, healthcare organizations can focus more on lowering healthcare costs and patient-centric care. In addition, heavy investment in hospital care is expected to boost the market growth in the coming years. The growing geriatric population and the rising prevalence of chronic diseases favour population health management growth worldwide. On the other hand, payers finance the medical costs of hospital services. Predictive analytics offers payers an advantage in interpreting unorganized patient data and population behaviour. This benefit accelerates the PHM market growth and is expected to fuel the segment's growth in the coming years. The factors mentioned above offer lucrative opportunities for market expansion.

Ask Here for Customization@ https://www.precedenceresearch.com/customization/1091

Regional Snapshots

Based on the region, North America has dominated the market and saw the highest revenue share in 2021. The USA's total medical expense is expected to exceed 4.8 trillion dollars in the same year. Thus, the increasing medical expenses across North America boost the demand for population health management. The regions' governments strongly focus on offering incentives and investments to enhance the entire population's health by tracking their health. Factors such as the need to reduce medical costs, increasing utilization of information technology in the healthcare industry, integration of cloud computing, and rising number of diseases propel the market growth.

For instance, the USA government passed the Affordable Care Act to prevent diseases and integrate information technology into the healthcare industry. This will strengthen the market growth and offer numerous opportunities for healthcare providers to collect and maintain patients' data. On the other hand, Asia Pacific is expected to significantly contribute to the population health management market growth in the coming years. This is due to the enhancing healthcare sector and heavy regional healthcare infrastructure investments. In addition, the rising prevalence of chronic diseases is expected to rise further. The data collected will need advanced data analytics to manage it, boosting the region's population health management.

Market Dynamics

Market Driver: Rising prevalence of chronic diseases

The population health management market is majorly driven by the rising prevalence of chronic diseases worldwide. The number of patients visiting the hospital to get treatment for a chronic condition is increasing. Thus, the need to record the details of the patients, patient care management and surveillance is more in such cases. Due to the rising prevalence of these diseases, the demand for effective treatment is also increasing. This increase in demand is leading to rising demand for healthcare management services. Heavy investments by the government in the healthcare industry are another growth-inducing factor. Many countries are adopting population health management programs due to their various benefits. A robust healthcare infrastructure makes it easy to adopt these management programs. The heavy investments in the healthcare sector are also leading to rising automation technologies integration in the healthcare sector. Due to these technologies, errors in patient record keeping have significantly reduced. Many hospitals are adopting IT solutions and EHR, boosting market growth worldwide.

Market Restraint: Inadequate healthcare infrastructure

Financial constraints are the major restraining factor in adopting population health management programs. The implementation of population health management is costly. It makes it difficult for hospitals, especially in developing economies, to adopt these programs to treat patients effectively. Heavy investments are needed to establish population health management programs in hospitals. Before adopting it, hospitals require a vital IT infrastructure. Population health management involves the integration of web-based applications. Heavy investments are a risk for the medical industry. The maintenance costs and additional investment in population health management make it more expensive. The population health management adoption rate in developing countries can slow down due to these factors.

Market Opportunity: The increasing popularity of personalized medicine

Population health management assists doctors in treating patients in a better way. The demand for personalized medicine is gaining popularity these days. Governments across various countries are making efforts to raise awareness about personalized medicine. Through these programs and advanced analytics, the demand for personalized medicine in cancer treatment is increasing rapidly. Furthermore, population health management helps to give a deeper understanding of chronic diseases. It helps in generating effective treatment plans for such diseases. Population health management helps in gathering genomic data. This data helps to know about the roots and origins of chronic diseases. The availability of accurate medical information of the patients and medical tools will help in the effective treatment of patients. Many hospitals are adopting population health management in the treatment of cancer. Introducing advanced analytics in the healthcare industry will offer numerous opportunities for market growth.

Market Challenge: Poor data management

There has been a lack of proper data management capabilities in hospitals. It poses a significant challenge in the PHM market. These few health organizations can adequately manage the patient's data. Poor data management is a primary market challenge. It can restrict the adoption of the PHM program. There has been a need for experts in the healthcare industry in the USA. Only by hiring experts the demand for population health management will grow. Stringent government regulations are another challenge hampering population health management growth. PHM needs constant updates. With strict government regulations, it isn't easy to get approval quickly. These factors can limit population health management growth across the globe.

Key Developments in the Marketplace:

• In March 2021, Phillips Healthcare collaborated with openDoctor. This partnership was made to provide an integrated radiology patient engagement platform.
• In Feb 2021, Phillip Healthcare introduced a complete remote emergency solution called Patient Flow Management Solution.
• In 2018, Cerner Corporation announced its partnership with Salesforce to integrate Salesforce Marketing Cloud and Health Cloud with its cloud-based population health platform, HealtheIntent.

Market Key Players:

• Cerner Corporation
• Allscripts Healthcare, LLC
• Conifer Health Solutions, LLC
• Enli Health Intelligence
• eClinicalWorks
• McKesson Corporation
• Optum, Inc.
• Medecision
• Advisory Board
• Athenahealth, Inc.
• Koninklijke Philips N.V.
• Welltok
• RedBrick Health Corporation

Market Segmentation

By Product

• Services
• Software

By End-Use

• Providers
• Payers
• Employer Group

Regional Segmentation

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Click Here to View Full Report Table of Contents

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/1091

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333