Population Health Management Market Size, Share, Industry, Forecast and outlook (2023-2030)

Population Health Management Market is segmented By Component (Software and Services), By Mode of Delivery (Web-based, Cloud-based, and On-premise), By End-User (Healthcare Providers, Healthcare Payers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Population Health Management Market Overview

The global population health management market reached USD 21.3 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 54.3 billion by 2030. The global population health management market is expected to exhibit a CAGR of 12.8% during the forecast period (2023-2030). Population health management is the aggregation of patient data across multiple health information technology resources, the analysis of that data into a single, actionable patient record, and the actions through which care components can improve both clinical and financial outcomes.

By focusing on the health of populations rather than solely on individual patients, population health management aims to improve health outcomes, enhance healthcare quality, and reduce costs by preventing or managing diseases more effectively. 

Furthermore, focusing on improving health outcomes, enhancing care coordination, reducing costs, and promoting health equity are driving up the population health management market size. Due to the massive healthcare expenditure in countries like the U.S. and Canada, the market is seeing an increase in demand from North American regions with significant companies like Cerner Corporation, Epic Systems Corporation, Conifer Health Solutions , and others actively operating in the market.

Population Health Management Market Dynamics

Need to Curtail Escalating Healthcare Costs will Drive the Market Growth

The overall cost of healthcare delivery has grown significantly over the past few decades. Factors such as increasing health insurance premiums, the growing demand for quality healthcare services, the rising number of elderly people, and the growing incidence of chronic disorders drive the demand for healthcare services across the globe. The high expenditure on healthcare services is patient readmissions, medical errors, and administration costs. 

According to the UN Population Division, the global aging population is expected to increase from 880 million in 2011 to 2 billion by 2050, representing 22% of the world’s population. If left unchecked, healthcare spending will increase by 25% by 2030, largely because of the aging population. Thus by above factors drive the market growth.

Key Strategies By the Healthcare Companies will Drive the Market Growth

Rapid advancements in healthcare technology, such as electronic health records (EHRs), health information exchange (HIE), and data analytics, have made it easier to collect, analyze, and leverage health data for population health management. Due to demand for population health management services the companies started the investments and other strategies to develop. The key strategies like acquisition and launches by the healthcare companies will drive the market growth.

For instance, on March 02, 2021, Clinigence Holdings, Inc., a pioneer in clinical data integration, clinical quality reporting, and population health analytics, announced the successful acquisitions of Accountable Healthcare America, Inc. ("AHA"), a Florida-based leading medical management platform company, and AHP Management, Inc. ("AHP"), a California-based management services organisation and provider network. As a result, the aforementioned factors fuel market expansion.

High Investments in Infrastructure To Set Up A Robust PHM Program is Likely to Hamper the Market Growth

However, population health management is a capital-intensive market. Presently, a majority of healthcare providers across the globe have the inadequate infrastructure, which includes technology, staff, data, and other resources to manage complex healthcare cases. To manage an entire population, providers need to heavily invest in infrastructural development. 

In terms of IT infrastructure, investments are required for increasing storage and processing capabilities. Web-based and mobile tools such as android and iOS apps need to be developed to ensure patient participation and health information exchange. The investments required to develop this infrastructure will pose a serious restraint to the already strained financial resources of healthcare providers.   

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Population Health Management Market Segment Analysis

The global population health management market  is segmented based on component, mode of delivery, end-user, and region.

The Services  Accounted for Approximately 32.2% of the Population Health Management Market Share

Hospitals and other healthcare organisations are increasingly requesting PHM services to involve third parties in evaluating patient data. The growing demand for PHM services is partly driven by the need for integrated healthcare systems. Furthermore, growing R&D expenditure by businesses to produce novel products has greatly aided healthcare organisations. 

For instance, on December 06, 2022, Morris Heights Health Centre (MHHC), a federally qualified health centre in New York, has announced a partnership with population health management technology company the Garage, under which the health centre will use the company's platform to improve care for its 50,000 Bronx patients. According to the news statement, MHHC will focus on care management improvements by using the Garage's Software as a Service (SaaS) population health management platform, Bridge. As a result, the aforementioned elements contribute to segment growth.

Source: DataM Intelligence Analysis (2023)

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Global Population Health Management Market Geographical Penetration

North America Accounted for Approximately 38.4% of the Market Share in 2022

North America is expected to hold a leading position in the population health management market during the forecast period. The factors, such as favorable regulatory scenario, pressure on healthcare institutions to reduce costs, and rising trends in healthcare IT, big data and cloud computing, well-established healthcare infrastructure, continuous reforms by governments, and the increasing diseased patient burden are driving the growth of the population health management market in the regions. 

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.

Source: DataM Intelligence Analysis (2023)

Population Health Management Market Key Players

The major global players in the population health management market Allscripts Healthcare Solutions Inc., Cerner Corporation, Conifer Health Solutions, Epic Systems Corporation, International Business Machines Corporation (IBM), Health Catalyst, Koninklijke Philips NV, Mckesson Corporation, Optum Inc., Verisk Analytics, Inc and among others.

COVID-19 Impact on Population Health Management Market 

Russia Ukraine Conflict

The Russia-Ukraine conflict is estimated to have a moderateimpact on the global population health management market, owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global population health management market growth over the forecast period.

Artifical Intelligence Impact Analysis

AI algorithms can analyze large volumes of patient data, including Electronic Health Records (EHRs), claims data, and social determinants of health, to identify individuals at high risk for developing chronic conditions or experiencing adverse health events. By stratifying the population based on risk, healthcare providers can target interventions and allocate resources more effectively.

By Component

• Software 
• Services

By Mode of Delivery

• On-Premise
• Web-based
• Cloud-Based

By End-User

• Healthcare Providers
• Healthcare Payers
• Other

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In March 2021, Phillips Healthcare partnered with an open doctor. This partnership is aimed at delivering an integrated radiological patient engagement platform that leverages open doctors’ real-time online appointment scheduling services as part of Philips’ Patient Management Solution.  
• On June 01, 2021, Lightbeam Health Solutions Inc. has agreed to purchase the operating assets of Jvion Inc., including Jvion's AI-enabled prescriptive analytics and social determinants of health (SDoH) solutions. Jvion clients will have access to a suite of evidence-based Deviceless Remote Patient Monitoring (RPM) programmes that, according to the company, improve clinical outcomes, generate 20% reductions in avoidable readmissions, and deliver consistent decreases in utilisation across diverse patient populations.
• On November 29, 2022, The Population Health Management (PHM) programme at CalAIM is set to launch in January 2023. The programme, according to the Department of Health Care Services (DHCS), would be a statewide strategy to ensuring Medi-Cal participants live "longer, healthier, and happier lives, improved health outcomes, and health equity." The PHM programme will be centred on proactively assessing and resolving Medi-Cal beneficiaries' care requirements through targeted interventions.

Why Purchase the Report?

• To visualize the global population health management market segmentation based on mode of delivery, component, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of population health management market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global population health management market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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