Market Overview
The Global Population Health Management Market is expected to reach a value of
USD 33.1 billion in 2023, and it is further anticipated to reach a market value of
USD 155.5 billion by 2032 at a
CAGR of 18.8%. The market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well.
Population
health management (PHM) includes a complete approach to gathering & analyzing patient health data, containing aspects like care coordination, patient engagement, data analytics, value-based care measurement, & health information management. Focused on improving complete population health, patient experience, & healthcare outcomes, PHM delivers solutions to minimize readmission rates, ensure optimal interventions, & offer live access to medical information for both patients & healthcare providers. It is highly used by healthcare providers & government/private healthcare organizations.
Key Takeaways
- By Component, Service segment takes the lead in 2023
- By End User, Provider segment takes the lead in 2023
- In addition, the payers segment is expected to have robust growth over the forecasted period.
- By Delivery Mode, Cloud-based mode take the lead & drive the market in 2023
- North America has a 48.0% share of revenue in the Global Population Health Management Market in 2023
Market Dynamic
Chronic illness serves as a major driver in the population health management sector, impacting about one in three adults globally & six in ten adults in the US. With an urgent need for effective treatment & patient record maintenance in the face of chronic diseases, the market experiencing increased growth, as manufacturers, like Allscripts & Health Catalyst, invest in R&D to introduce innovative products, contributing to market expansion.
However, the population health management market faces challenges in its growth trajectory, mainly with the high costs associated with operating room equipment, which is particularly prevalent in low-income countries, and limits the growing use of equipment, providing significant restraints to the market's overall growth, as the high financial investment required for a fully-equipped system creates a hindrance to the market's expansion.
Research Scope and Analysis
By Component
The global population health management market by component is categorized into services and software, highlighting the prominence of the services segment in contributing significantly to revenue in 2023, as the complexity of implementing population health management strategies has driven a demand for specialized services, including care coordination, data analytics, risk stratification, & program management., which includes training, consulting, care management, & program evaluation, provides critical insights & implementation assisting to healthcare providers, supporting effective population health management. Recognizing the value of domain expertise, healthcare organizations turn to service providers for operating regulatory challenges, optimizing workflows, & customized strategies to specific population health needs.
Further, the services segment, driven by the necessity for ongoing support & collaboration, plays a major role in adapting to changing healthcare landscapes, industry best practices, & technological developments, securing a significant revenue share in the dynamic population health management market.
By Delivery Mode
The market is segmented into on-premise & cloud-based delivery modes, among which, the cloud-based segment leads in 2023 and is expected to exhibit the highest growth in the forecast period. The dominance of the cloud-based approach is due to its usage of advanced data integration technologies & advanced analytics, effectively meeting population health management requirements.
In addition, the cloud-based platform plays a vital role in workflow automation, advancing care management, & enhancing clinical outcomes. Moreover, the cloud-based segment experienced growth in demand during & post the COVID-19 pandemic, highlighting its crucial role in driving growth in the population health management market. The adaptability & efficiency offered by cloud-based solutions position them as integral components in the changing landscape of healthcare management.
By End User
Healthcare providers emerge as the dominant segment in the population health management market in 2023, capturing the maximum value share. Population Health Management (PHM) proves instrumental in improving
medical centers & clinics' outcomes by assisting in improved disease management, resulting in fewer in-patient stays & decreased physician observation hours, which empowers providers to prioritize affordability & patient-centric care. The sector's growth is further supported by large investments in acute hospital care, responding to the growth in demand stemming from an increasing geriatric population vulnerable to chronic diseases.
Further, payers, acting as third-party entities financing health services, support predictive analytics competency to interpret unstructured clinical content & population behavior, which positions payers favorably in the PHM software domain, driving significant segmental growth. Anticipated factors all together contribute to the developing expansion of both healthcare providers & payers within the population health management market.
The Population Health Management Market Report is segmented on the basis of the following:
By Component
By Delivery Mode
By End User
- Payers
- Providers
- Employer Group
Regional Analysis
North America commands the market with a high 48.0% revenue share in 2023 and is anticipated for major growth in the forecast period, as factors driving this expansion include affordable healthcare, cloud computing adoption, changing regulatory landscapes, growth in IT integration in healthcare, & a rising occurrence of diseases. In addition, the US a major hub for commercialized Population Health Management (PHM) services, has over 100 operating companies, contributing highly to the region's market dynamics. Further, the market's appeal in North America continues to attract new entrants, while existing players increase their offerings with value-based enhancements, creating fresh opportunities.
Further, the Asia Pacific region is forecasted for the fastest growth in population health management throughout the forecast period. Fueled by developing healthcare infrastructure & increase in healthcare expenditure, the region is predicted for heightened demand for advanced data analytics to manage the influx of data generated by a growing number of chronic diseases, further driving the growth of the population health management market in this dynamic & evolving healthcare landscape.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
Market players are enhancing their market presence through strategic moves like acquisitions, mergers, & partnerships. Further to expand their presence, companies are customizing solutions & investing significantly in new product development, which includes creating advanced platforms with enhanced features, as these commercialization strategies highlight a dynamic business landscape, focusing adaptability & innovation as key drivers of success in the current competitive market environment.
In October 2022, MEDITECH unveiled the expansion of its population health management portfolio via Expanse Population Insight, which leverages the Innovaccer Data Platform & delivers comprehensive care delivery & data analytics. Further, it excels in data aggregation & curation, showcasing MEDITECH's commitment to creating healthcare solutions with a focus on population health management & informed decision-making in the industry.
Some of the prominent players in the global Population Health Management Market are:
- Oracle
- Optum Inc
- Medecision
- Cerner Corp
- Health Catalyst
- Welltok
- Allscripts Healthcare
- McKesson Corp
- Advisory Board
- eClinicalWorks
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Population Health Management Market:
The COVID-19 pandemic & following economic recession have highly impacted the Global Population Health Management (PHM) market, as the growing focus on public health & the demand for effective healthcare systems has fueled the increased adoption of PHM solutions. These tools, developed to enhance healthcare outcomes & reduce costs, have gained prominence as the world engages with the aftermath of the pandemic. The economic downturn forced healthcare organizations to look for innovative strategies for cost reduction & improved patient outcomes, making Population Health Management a critical component of healthcare reform. The market is experiencing a growth in the need for digital health technologies, data analytics, & care coordination tools as stakeholders prioritize proactive healthcare measures to address the changing global health landscape.
Recent Developments
- In August 2023, Nutex Health Inc unveiled its acquisition of Population Health Associates, Inc. (PHA) & Managed Care Insurance Consultants, Inc. (MCIC), which is set to integrate around 4,400 managed care patients from PHA & MCIC into Nutex Health's existing base of 25,000 managed care patients. In addition, this acquisition focuses on synergizing with South Florida Physicians IPA, Nutex's network in South Florida, using Nutex's Clinigence Health platform to optimize medical cost ratios & improve patient health outcomes.
- In September 2023, CommonSpirit Health introduced its nationwide value-based services platform, the Population Health Services Organization (PHSO), which aims to enhance accessibility to equitable healthcare, enhance quality & outcomes, and minimize overall healthcare costs. The PHSO delivers a range of services, like advanced population health analytics, care coordination, network management, data management & analytics, technology infrastructure, and reporting, supporting providers & networks in achieving excellence in value-based care.
- In September 2023, Creighton University unveiled the creation of the Institute for Population Health, dedicated to addressing health justice concerns in both healthcare & the broader community. Aligned with its mission of service & justice, the institute collaborates with Creighton's community & partners to devise practical solutions looking for individual well-being & dismantling systemic barriers to health equity on a larger scale.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 33.1 Bn |
| Forecast Value (2032) |
USD 155.5 Bn |
| CAGR (2023-2032) |
18.8% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Component (Software and Services), By Delivery
Mode (On-Premise and Cloud-based), By End User
(Payers, Providers, and Employer Group) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Oracle, Optum Inc, Medecision, Cerner Corp, Health
Catalyst, Welltok, Allscripts Healthcare, McKesson
Corp, Advisory Board, eClinicalWorks, and Other Key
Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Population Health Management Market size is estimated to have a value of USD 33.1 billion
in 2023 and is expected to reach USD 155.5 billion by the end of 2032.
North America has the largest market share for the Global Population Health Management Market with
a share of about 48.0% in 2023.
Some of the major key players in the Global Population Health Management Market are Oracle, Optum
Inc, Medecision, and many others.
The market is growing at a CAGR of 18.8 percent over the forecasted period.