Population Health Management Market (By Product: Software, Services; By End Use: Payers, Providers, Employer Groups) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

Published Date : May 2022 | No. of Pages : 150+ Pages | Category : Healthcare

The global population health management market was estimated at USD 47.4 billion in 2021 and it is expected to surpass around USD 280.9 billion by 2030, poised to grow at a CAGR of 21.86% from 2022 to 2030.

Population Health Management Market Size 2021 to 2030

The need for population health services that combine multiple functionalities is increasing due to the complex nature of care delivery and payment models. Population Health Management (PHM) solutions can process clinical, financial, and operational data that help improve efficiency and patient care. The health management program is also witnessing changes in medical reimbursement due to the increasing emphasis on value-based payment models and Accountable Care Organizations (ACOs).

The COVID-19 pandemic has intensified the need for social distance among physicians and other healthcare workers, driving the need for population health management solutions and the correct and timely transmission of patient health information and claims data for patients with chronic diseases. PHM provides effective tools in this regard, including a framework for the secure transmission, sharing, and retrieval of electronic health information and claims data. For clinical and financial decision-making, these technologies enable the smooth transmission and analysis of health-related data between healthcare institutions and patients.

Furthermore, as patient numbers increase, so does the requirement for electronic medical records and electronic health record solutions to manage complicated patient data. Players in this market have also connected the electronic health record platforms with other IT solutions such as population health management and enhanced their software solutions to assist healthcare practitioners in efficiently managing COVID-19 patients. The convenience offered by value-based payment models is responsible for the increased adoption of population health solutions by ACOs.

ACOs, consisting of hospitals, clinics, and other healthcare providers, collaborate with the payers (private and public) to provide high-quality care to the patients. Private and public insurance providers have introduced various disease management programs that help in the treatment of chronic illnesses. These multidisciplinary efforts are expected to result in efficient treatment outcomes and are likely to suggest the best suitable courses of action that need to be undertaken. Successful large-scale trials in the U.S. have enabled significant advancements in disease management programs.

Most healthcare providers worldwide have insufficient infrastructure, including health professionals, patients’ data, technology, and other resources to manage healthcare issues. To manage a large population, suppliers must invest considerably in infrastructure development. The government's expanded monitoring support for healthcare IT systems, as well as the rising use of big data analytics and the need to contain expanding healthcare costs, would all fuel the expansion of the population health management industry.

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 47.4 billion
Revenue Forecast by 2030 USD 280.9 billion
Growth rate from 2022 to 2030 CAGR of 21.86%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Product, end use, region
Companies Covered Allscripts; McKesson Corporation; Cerner Corporation; Conifer Health Solutions LLC; eClinicalWorks

 

Product Insights

The services segment dominated the market for population health management and accounted for the largest revenue share of more than 51.0% in 2021. Growing preference for in-house systems in hospitals and other care providers to avoid involving third parties to assess patient data is driving the services segment. The rising need for integrated healthcare systems is also responsible for the increasing demand for PHM.

As healthcare costs are increasing, manufacturers are investing in research and development to launch innovative products to help healthcare organizations. For instance, in October 2020, Allscripts announced its agreement of selling the CarePort Health business to WellSky Corp. for an upfront payment of USD 1.35 billion, and in June 2019, Health Catalyst, Inc. announced the launch of its Population Health Foundations solution. The product includes DOS Marts, Excel-friendly Analysis Tools, Population Builder: Stratification Module, Leading Wisely: Population Health, and Community Care as its technology components and PHM Solution Optimization and PHM Opportunity Analysis as its service components.

End-use Insights

The healthcare providers segment dominated the market for population health management and accounted for a revenue share of 48.7% in 2021. PHM improves clinical outcomes by aiding in better disease management, resulting in reduced in-patient stay and overall observation hours of physicians. Hence, providers can focus more on patient-centric care and reduce overall costs.

Payers are the third-party entities that finance or reimburse the cost of health services. Predictive analytics competency gives payers an advantage over other providers in interpreting population behavior and unstructured clinical content. This competitive advantage is instrumental in increasing the demand for PHM software for payers and is expected to propel segment growth significantly over the forecast period.

Regional Insights

North America dominated the population health management market and accounted for a revenue share of 46.9% in 2021. Total healthcare spending in the U.S. is expected to reach up to USD 4.8 trillion in 2021, accounting for nearly 20% of Gross Domestic Product (GDP) by 2021. Thus, the alarming increase in healthcare costs is, in turn, escalating the demand for an effective PHM. The government is focusing on increased incentives and investments to improve national health by accurately tracking the health of the population and its subgroups. The factors, such as pressure on the healthcare industry to reduce medical costs, rising use of information technology in healthcare, cloud computing, regulatory scenario, and increasing diseases are driving the market for population health management in North America.

For instance, the U.S. government implemented the ACA which is the Affordable Care Act for the prevention of diseases, and the adoption of IT in healthcare, this will boost the market growth and create opportunities for the service provider to effectively collect and maintain patients' data. In Asia Pacific, the market for population health management is anticipated to experience the fastest growth over the forecast period due to improving healthcare infrastructure and rising healthcare expenditure. Furthermore, the incidence of chronic diseases is expected to double from 2001 to 2025 in the Asia Pacific region. Managing the data generated from this increase will require advanced data analytics, which is expected to boost the growth of the market for population health management in the region.

Key Players

  • Allscripts
  • McKesson Corporation
  • Cerner Corporation
  • Conifer Health Solutions LLC
  • eClinicalWorks

Market Segmentation

  • By Product Outlook
    • Software
    • Services
  • By End-use Outlook
    • Payers
    • Providers
    • Employer Groups
  • By Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • United Arab Emirates

Featured Research Reports

  • Featured Research Reports

    Pediatric Wheelchair Market (By Product Type: Manual, Electric; By Frame Type: Rigid, Foldable; By Application: Homecare, Hospital) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    Immunotherapy Drugs Market (By Drug Type: Monoclonal Antibodies, Immunomodulators; By Indication: Infectious Diseases, Cancer) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    MRI Motion Tracking Systems Market (By Type: Optical Tracking Systems, Software; By Product: Marker, Marker-less) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    5G In Healthcare Market (By Component: Hardwar, Services; By Application: Remote Patient Monitoring; Connected Medical Devices; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    Surgical Scissors Market (By Type: Disposable, Reusable; By Application: Cardiology, Orthopedics, Gastroenterology, Dermatology, Neurology; By Material; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...