PUBLISHER: Allied Market Research | PRODUCT CODE: 1139926
PUBLISHER: Allied Market Research | PRODUCT CODE: 1139926
The global population health management market was valued at $19,176.22 million in 2021, and is estimated to reach $63,758.84 million by 2031, growing at a CAGR of 12.7% from 2022 to 2031.
Population health management (PHM) is practice of improving clinical health outcomes of a specified group of people through enhanced care coordination and patient involvement supported by suitable financial and care models. It provides complete, authoritative techniques for improving the systems and policies that impact health care quality, access, and results, therefore increasing the overall health of a population. Generally, PHM programs collect data and deliver a thorough clinical picture of each patient using a business intelligence (BI) tool. Using that data, clinicians may track healthcare outcomes and, presumably, improve them while cutting expenses.
The major factors that drive the growth of the population health management market is rise in population health management due to the government mandates and support for healthcare IT solutions that has led to increase in utilization of Internet of things (IoT) systems to exchange data with other devices and systems over the internet or other communication networks. In addition, increased use of big data analytics, and the need for reduction in per capita healthcare expenditure globally has significantly boosted the utilization of PHM solutions. Furthermore, rise in focus on personalization of medicines and increase in emphasis on value-based medicine are expected to provide profitable development prospects for market participants during the forecast period. However, data breaches, a shortage of experienced analysts, and interoperability concerns are limiting the market's growth.
In addition, significant surge in population and rise in demand for effective disease management strategies are also expected to boost the market growth.
For instance, Allscripts Healthcare Solutions, Inc., one of the leading companies in January 2020, announced partnership with MyndYou Inc., a science and AI neuroscience solution, which is used to promote better population health management, monitor high-risk triage patients, and reduce their chances of hospitalization. Partnership between the two companies will work to identify patient health risks in the home and then relay this information to the care team to intervene and prevent hospitalization. Thus, such partnerships and other key developmental strategies such as product approval, business expansion and collaborations, aimed at increasing the accessibility and availability of population management solutions are expected to boost the market growth.
The global population health management market is segmented on the basis of component, mode of delivery, end user, and region. On the basis of component, the market is categorized into software and services. By mode of delivery, it is divided into on-premise and on-cloud. By end user, it is segmented into healthcare providers, healthcare payers and others. The healthcare providers are further segmented into hospitals & physicians groups, ambulatory care centers and others. The healthcare payers are further segmented into public payers and private players. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
The major players profiled in the report are Allscripts Healthcare Solutions, Inc., Arcadia, AthenaHealth, Inc., Cotiviti, Inc., Eclinicalworks, Cedar Gate Technologies, LLC (Enli Health Intelligence), Epic Systems Corporation, Health Catalyst, Inc., Health EC, LLC., Health Care Service Corporation (Medecision), I2I Population Health, International Business Machines Corporation (IBM Watson Health), Koninklijke Philips N.V (Philips WeLLCentive), Lightbeam, Nextgen Healthcare, Inc., Oracle Corporation (Cerner Corporation) and United Health Group (Optum, Inc.).
Key Benefits For Stakeholders
Key Market Segments
By Component
By Mode of Delivery
By End User
By Region