Population Health Management Market (By Product: Services and Software; By End-use: Providers, Payers, and Employer Group) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027

The global population health management market was valued at around USD 24.1 billion in 2019 and poised to grow at a compound annual growth rate (CAGR) 19.8% during the forecast period 2020 to 2027.

The global population health management market size is expected to reach over USD 145.6 billion by 2027.

Growth Factors

The healthcare industry is rapidly transforming from paper-based system into a digitized system, escalating the demand for healthcare IT services. In addition, rising demand for solutions that support value-based care delivery by healthcare shareholders has resulted in a shift towards Value-Based Payment (VBP) from Fee-For-Service (FFS) models. Increasing demand for effective disease management strategies also predicted to boost market growth.

Population Health Management (PHM) aims at solution based on data of healthcare about the population level and enables the segregation of patients on the basis of common medical conditions and attributes. PHM permits care coordination, risk stratification, data aggregation, and patient communication.

With the rising complexity in payment model, care delivery, and clinical needs demand for PHM programs that combine multiple functions is rising that can process financial, clinical, and operational data to improvise the efficiency and patient care.

Product Insights

The services segment held the largest market share in terms of revenue as hospitals and other care providers prefer in-house solution &system to avoid the participation of third parties for assessing patient’s data. Increasing requirement of integrated healthcare systems is also responsible for the escalating demand for PHM.

With increasing healthcare costs, manufacturers invest prominently in the Research &Development (R&D) activity to introduce innovative products for helping healthcare organizations. For instance, in June 2019, Health Catalyst, Inc. launched Population Health Foundations solution.

On the contrary, software segment contributes prominently towards the value growth of the global population health management market. The significant share of the segment is attributed to the increasing adoption of software solutions by providers and payers to increase cost-effectiveness, reduce readmissions, enhance patient engagement, improved operational efficiency, and aid data analysis and integration.

End-use Insights

Healthcare providers captured the maximum value share in the population health management market in the year 2019. PHM improves the outcomes from medical centers and clinics by providing them better disease management that results in reduced in-patient stay at hospitals and medical centers along with reducing the total observation hours of physicians. Hence, providers can focus more on reduce overall costs as well as patient-centric care. Further, significant investment in the acute hospital care expected to boost the growth of providers in the coming years. Rising number of geriatric population because of which people are more vulnerable to the chronic diseases significantly escalates the demand of healthcare providers market growth.

On the other hand, payers are the third-party bodies who reimburse or finance the cost of health services. Predictive analytics competency provides payers a benefit over other providers for interpreting unstructured clinical content and population behavior. This competitive advantage is contributes notably in accelerating the demand for PHM software for payers and projected to propel the growth of the segment significantly over the analysis period. The above mentioned factors anticipated to contribute positively towards the lucrative growth of the segment.

Regional Insights

North America led the global population health management market in terms of revenue share in the year 2019. Total spending on healthcare infrastructure in the United States expected to reach USD 4.8 Trillion the year 2021 that accounted for nearly 20% of the overall Gross Domestic Product (GDP) of the country by 2021. Thus, an alarming increase in the healthcare costs is predicted to escalating the requirement for an effective PHM. The government is also focusing on increased investments and incentives to enhance national health by precisely tracking the health of the population and its subgroups. The above mentioned factors analyzed to contribute prominently towards the flourishing growth of the region.

Apart from this, the Asia Pacific population health management market anticipated to exhibits the fastest growth rate over the forecast period because of rising healthcare expenditure along with improving healthcare infrastructure. Rising medical tourism, reforms and investments to modernize China’s healthcare infrastructure, implementation of new ICT guidelines in Japan, rapidly growing healthcare industry in India, along with the implementation of IT programs in New Zealand and Australia together contribute prominently towards the overall market growth of the region. In addition, the incidence of chronic diseases in the region expected to double its rate between years 2001 and 2025. Management of the data generated from this sudden rise in the number of patients suffering from chronic disease will require advanced data analytics solution that projected to boost the growth of the market in the region.

Key Companies & Market Share Insights

The global population health management market experience moderate competition among the market players. Merger & acquisition, partnership, collaboration, joint venture, and product enhancement & development are the most common strategies undertaken by the industry participants to strengthen their regional presence as well as market foothold. For instance, in 2016, Allscripts announced to acquire CarePort to strengthen its market position across post-acute care settings.

Certain of the noticeable performers in the population health management market as follows:

  • Cerner Corporation
  • Allscripts Healthcare, LLC
  • Conifer Health Solutions, LLC
  • Enli Health Intelligence
  • eClinicalWorks
  • McKesson Corporation
  • Optum, Inc.
  • Medecision
  • Advisory Board
  • Athenahealth, Inc.
  • Koninklijke Philips N.V.
  • Welltok
  • RedBrick Health Corporation

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of product, end-use, and region:

By Product

  • Services
  • Software

By End-Use

  • Providers
  • Payers
  • Employer Group

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World
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FAQ's

How much is the population health management market size?
The global population health management market size is expected to reach over USD 145.6 billion by 2027.
The global population health management market is anticipated to grow at a CAGR of 19.8% during the forecast period 2020 to 2027.
Government support and mandates for healthcare IT solutions, the need to curtail the escalating healthcare costs,and increasing use of big data analytics are the key factors that drive the market growth. In addition, increasing digitalization of healthcare systems, rising geriatric population coupled with burden of chronic diseases, and the increasing requirement for affordable treatment options because of rising healthcare costs are the other most prime factors that contribute positively towards the growth of the market.
Some of the key players operating in the market are Cerner Corporation, Allscripts Healthcare, LLC, Conifer Health Solutions, LLC, Enli Health Intelligence, eClinicalWorks, McKesson Corporation, Optum, Inc., Medecision, Advisory Board, Athenahealth, Inc., Koninklijke Philips N.V., Welltok, and RedBrick Health Corporation among others.
North America led the global market in terms of revenue share in 2019 because of an alarming increase in the healthcare costs.
The Asia Pacific PHM market anticipated to exhibits the fastest growth rate over the forecast period due to rising healthcare expenditure along with improving healthcare infrastructure.
On the basis of product, services segment held the largest market share as hospitals and other care providers prefer in-house solution & system.
By end-use segment, healthcare providers captured the maximum value share in the market in 2019 due to significant outcome from medical centers and clinics.

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