Population Health Management Market Forecasts to 2028 – Global Analysis By Component (Software, Services), Mode of Delivery (Cloud–Based, On Premise, Web-based), and By Geography

Population Health Management Market Forecasts to 2028 – Global Analysis By Component (Software, Services), Mode of Delivery (Cloud–Based, On Premise, Web-based), and By Geography

According to Stratistics MRC, the Global Population Health Management Market is accounted for $25.33 billion in 2021 and is expected to reach $69.06 billion by 2028 growing at a CAGR of 15.4% during the forecast period. Population health management refers to a program where the patient’s data is combined across numerous health information technology resources. This allows the analysis of these gathered data into a single and actionable patient record, which allows healthcare professionals to advance the clinical and financial outcomes of their patients. Most of the population healthcare management programs employ a business intelligence tool for the aggregation of data, which allows the healthcare professionals to build a precise and accurate clinical picture of every individual patient.

Market Dynamics:

Driver:

Growing Healthcare IT and Technological Advancement & Geriatric Population

The technological developments in healthcare IT, ensuing in improved and more accurate population health management programs which have led to greater acceptance of population health management for diverse healthcare needs which contains an aggregation of data across various sources. According to the Centers for Disease Control and Prevention (CDC), an estimated 1 in 6 adults in the United States suffer from some chronic disease, with 1 in 4 individuals having more than 2 chronic diseases. Increased technological advancements in electronic health records (EHR), analytics, blockchain technology and improved population education are also further contributing to the increase of the market size. The above factors combined with the population health management market such as changes in the reimbursement model boost the market growth. The growing geriatric population is bolstering the growth of the population health management market. The elderly population requires extensive care as they are prone to illness due to low immunity levels and high recovery time. The elderly people are more susceptible to chronic diseases, such as cancer and cardiovascular diseases, thus leading to an increase in demand for better diagnosis, prevention, and treatment. The older population also has an increased need for personalized medicine, as they have low immunity and are more susceptible to drug allergies. Therefore, the growing geriatric population creates increased demand for PHM.

Restraint:

High Cost

Population health management is a capital intensive technology. The healthcare infrastructures in many provinces are scarce. It makes it hard for the health sector to accept these high-end technologies. High investments are important to establish a health management system for a tremendous population. Before accepting a population health system, the hospital needs IT and a compatible system. Integration of web-based applications is necessary for the program. The lack of financial sources to purchase these technologies is the restraining factor of the population health management market. Huge investments are a massive risk to the healthcare industry. The additional investments and maintenance cost of the program makes it a more expensive investment. The high investments can lead to a decline in the demand of the market.

Opportunity:

Increasing Preference for Personalized medicine

The population health management program helps hospitals to treat patients in an organized way. Through the management system and its precise analytics, personalized cancer treatment is surging. Various governments are taking initiatives to create more awareness about personalized medicines. Personalized medicine separates patients into different groups. The advent of personalized medicine has led to precise, better, predictable healthcare. With the increasing understanding of genes and enhanced healthcare analytics capabilities, providers can understand the drug responses, impact of pathogens, impact of diseases, and possible health outcomes in an individual patient. This has led to the increasing demand for personalized medicine. Population health management plays a vital role in the development of personalized medicine. It is important to understand the care gaps, health records of population groups to develop personalized medicine. Therefore, increasing compliance for personalized medicine-based analytics is creating ample growth opportunities for the global population health management market.

Threat:

Lack of Data Management Capacity

Lack of data management capacity in the health industry is a significant threat in the population health management market. There is only a few health organization that is capable to manage patient data. Poor data management skill in the health industry is a major market threat. It can hamper the acceptance rate of the population health management system. The lack of skills to handle IT technology can lead to disorganization in patient information storage. The need for experts UN the healthcare industry is more than 29%. Only with the fulfilment of these roles, the adoption of health management will rise.

Cloud-based segment is expected to be the largest during the forecast period

Due to a rise in the number of benefits, such as low licensing and startup costs, low costs of maintenance and infrastructure requirements, and wider accessibility. In addition, a cloud-based population health management system provides enhanced productivity and fast and smooth implementation. Hence the cloud-based delivery model is expected to witness the fastest growth during the forecast period. Cloud-based population health management programs are accessible over the internet without the need for active participation by healthcare management. This enables the effective accessibility of population health management over diverse specialties and various healthcare institutions. Hence, the proven effectiveness of cloud-based population health management in-home healthcare, along with seamless accessibility of data across multiple platforms, is the primary reason for the dominance of the cloud-based segment in the global market.

The Provider segment is expected to have the highest CAGR during the forecast period

Due to the greater prevalence of neurology, cardiology, and other conditions in advancement and emerging countries which is attracting a large patient pool suffering from chronic and acute conditions. This growing number of patients is expected to further provide impetus to the growing adoption of PHM programs. Furthermore, the implementation of the affordable care act and hospital readmissions reduction program (aimed at lowering healthcare costs by using novel population health management solutions) in the US, as well as the high demand for these solutions among healthcare providers across provinces.

Region with highest share:

The North America is projected to hold the highest market share. The factors, such as big data and cloud computing, continuous reforms by governments, encouraging regulatory set-up, well-established healthcare infrastructure, pressure on healthcare institutions to reduce costs, and growing trends in healthcare IT, and the growing diseased patient burden are driving the growth of the population health management market in the provinces. For instance, the US government implemented the Affordable Care Act (ACA) for the prevention of diseases and the adoption of healthcare IT. The ACA will boost the growth of the population health management market and create opportunities for population health management service providers to collect and maintain patients’ data. The U.S. is the largest market for population health management among all the countries of the province. The U.S. population health management industry is primarily driven by the Patient Protection and Affordable Care Act. This was mainly due to the significant adoption of PHM in the U.S. post the implementation of the Affordable Care Act (ACA) by the providers and health systems, easy availability of PHM platforms and services in this area, and rapidly growing ACOs. For instance, the US government implemented the Affordable Care Act (ACA) for the prevention of diseases and the adoption of healthcare IT. The ACA will boost the growth of the t market.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR, as in recent years, the market has witnessed numerous opportunities in the market. Moreover, factors such as the implementation of several PHM programs in Australia, growing medical tourism in Asia, the rapidly growing healthcare industry in India, efforts are taken to digitalize the healthcare system in India and China, investments and reforms to modernize China’s healthcare infrastructure, new outline by Japan’s information and communication technology fund, and improving HCIT infrastructure across APAC. Growth of the market is accredited to approaches of administration bodies to leverage population health and application of analytics tools in better care management for the provincial population.

Key players in the market:

Some of the key players profiled in the Population Health Management Market include Allscripts Healthcare Solutions, Arcadia, Athenahealth, Cerner Corporation, Cotiviti (Verscend Technologies), Eclinicalworks, Enli Health Intelligence ( a Cedar Group Technologies), Epic Systems Corporation, Health Catalyst, Healthec, LLC, I2I Population Health, IBM Corporation, Koninklijke Philips, Medecision, Optum Inc. (A Subsidiary of Unitedhealth Group).

Key developments:

In June 2018: i2i Population Health (i2i) collaborated with VisionWare (UK) to help VisionWare support its established foundation of Federally Qualified Healthcare Centers and expand its population health analytics presence.

In July 2019: Epic collaborated with Connected Care Health Services (US) to improve healthcare organisations’ population health initiatives.

In January 2020: Allscripts partnered with MyndYou Inc. to promote population health through MyndYou’s care portal, app platform, and virtual care manager, which identifies and monitors high-risk triage patients.

In October 2019: Cerner and i2i Population Health (US) collaborated to combine Cerner’s comprehensive population health management tools with i2i’s EHR-agnostic capabilities to help users drive positive, sustainable outcomes for community health centres, primary care associations, and rural health systems.

Components Covered:
• Software
• Services
• Hardware

Mode of Delivery’s Covered:
• Cloud -Based
• On Premise
• Web-based

Solutions Covered:
• Analytics
• Care Coordination and Medication Management
• Data Integration and Management
• Patient Management
• Population Health Analytics
• Resource Utilization
• Risk Stratification and Gaps in Care

Applications Covered:
• Access Comprehensive Longitudinal Patient Record
• Automating Patient-Centered Medical Home (PCMH)
• Effectively Coordinate Care

End Users Covered:
• Providers
• Payers
• Communities
• Employer Groups
• Government bodies
• Medicaid Managed Care Organizations
• Self-Insured Employers

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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