At 12.9% CAGR of Population Health Management Market Size Worth $51.2 Billion by 2028: Zion Market Research
NEW YORK, May 9, 2022 /PRNewswire/ — As per Zion Market Research study, The global population health management market was worth around USD 24.7 billion in 2021 and is estimated to grow to about USD 51.2 billion by 2028, with a compound annual growth rate (CAGR) of approximately 12.9% percent over the forecast period. The report analyzes the population health management market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the population health management market.
Key Industry Insights & Finding of the Population Health Management Market Reports:
- As per the analysis shared by our research analyst, the Population Health Management Market is expected to grow annually at a CAGR of around 12.9 % (2022-2028).
- Through the primary research, it was established that the Population Health Management Market was valued approximately USD 24.7 Billion in 2021 and is projected to reach to roughly USD 51.2 Billion by 2028.
- North America leads the global population health management market because of growing federal healthcare and rising government initiatives.
- The Asia Pacific market, which includes India, China, Japan, and the rest of Asia Pacific, provides market participants with high-growth opportunities.
Zion Market Research published the latest report titled as “Population Health Management Market By Component (Software and Services), By Mode of Delivery (On Premise and Cloud Bases), By End Users (Health Care Providers, Health Care Payers and Other End Users), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028” into their research database.
Population Health Management Market: Overview
Any hospital relies on its patients’ health information. Technology adoption is accelerating in a variety of businesses. As a result, the efficiency of the organization is increasing. In numerous instances, patient information is disorganized. It leads to a host of problems in the medical area. This is where a population health management system can help by compiling and recording manageable patient data. It’s a business intelligence system that simplifies patient storage.
Government requirements and support for healthcare IT solutions, the growing use of big data analytics, and the need to curb escalating healthcare costs are the primary factors driving the growth of the population health management market. Furthermore, the expansion of emerging economies (such as Brazil, Russia, India, South Korea, and China), a growing emphasis on personalised medicine, and a growing emphasis on value-based medicine are expected to provide lucrative growth opportunities for market participants during the forecast period. However, data breaches, a shortage of experienced analysts, and interoperability concerns limit the market’s growth.
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Industry Dynamics:
Population Health Management Market: Growth Dynamics
Opportunities: Advance analytics and predictive modelling applications to bring growth opportunities for global market.
Advanced analytics and predictive modelling applications enable healthcare organizations to treat each patient individually to achieve the best possible outcomes. Analytics have increasingly been used to personalize cancer and other disease treatments. In this regard, the UK’s National Health Service (NHS) announced a five-year initiative to sequence the genomes of large group of people. A new company called Genomics England Limited was formed to carry out this project, and a huge amount has been set aside for it. This project’s findings will be applied to the treatment and research of cancer and other rare diseases.
Challenges: Diversity & complexity of the population health management market may give rise to challenges for its growth.
Only a few healthcare organizations have in-house experts who can translate large amounts of data into valuable insights. One of the significant barriers to the growth of the population health management market is a lack of data management capabilities and skilled analysts.
Major markets like Germany, the Netherlands, England, and Australia are also experiencing a severe shortage of HCIT professionals. During the forecast period, the population health management market is expected to be hampered by a lack of in-house IT experts as well as a trained workforce with cross-functional skills.
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Global Population Health Management Market: Segmentation
- The global population health management market is segregated based on components and end users.
Based on component, Population Health Management market is divided into 2 segments- software and services. The dominance of the software segment can be ascribed to payers’ and providers’ growing use of software solutions to reduce readmissions, boost cost-effectiveness, improve operational efficiency, promote patient engagement, and facilitate data integration and analysis. In terms of services, which frequently require renewal on a time-based basis, including service upgrades and the maintenance of PHM Programs, have been essential in dominating these devices in the global market.
Based on end-user, Population Health Management market is divided into 3 segments healthcare providers, healthcare payers, and other end users. The implementation of the Affordable Care Act and the Hospital Readmissions Reduction Program (aimed at lowering healthcare costs by using novel population health management solutions) in the United States, as well as the high demand for these solutions among healthcare providers across regions, account for a large share of this segment.
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List of Key Players of Population Health Management Market:
- Cerner Corporation
- Epic Systems Corporation
- Koninklijke Philips
- i2i Population Health
- Health Catalyst
- Optum
- Enli Health Intelligence
- eClinicalWorks
- Orion Health
- Allscripts Healthcare Solutions
- IBM Corporation
- HealthEC LLC
- Medecision
- Arcadia
- athenahealth (US)
- Cotiviti
- NextGen Healthcare Inc.
- Conifer Health Solutions
- SPH Analytics
- Lightbeam Health Solutions
- Innovaccer
- Citra Health Solutions
- Evolent Health Inc.
- Lumeris
- Forward Health Group.
Key questions answered in this report:
- What are the growth rate forecast and market size for Population Health Management Market?
- What are the key driving factors propelling the Population Health Management Market forward?
- What are the most important companies in the Population Health Management Market Industry?
- What segments does the Population Health Management Market cover?
- How can I receive a free copy of the Population Health Management Market sample report and company profiles?
Report Scope:
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Regional Dominance:
· North America leads the global population health management market
North America leads the global population health management market because of growing federal healthcare and rising government initiatives. The Asia Pacific market, which includes India, China, Japan, and the rest of Asia Pacific, provides market participants with high-growth opportunities.
Rising medical tourism, the implementation of new ICT guidelines in Japan, investments, and reforms to modernize China’s healthcare infrastructure, India’s rapidly growing healthcare industry, and IT programmes in Australia and New Zealand are all driving growth. Furthermore, government initiatives to adopt HCIT, the growing geriatric population, the rising prevalence of chronic diseases, rising healthcare expenditure, and increasing consumer purchasing power are expected to support market growth in this region.
Global Population Health Management Market is segmented as follows:
Population Health Management Market: By Component Outlook (2022-2028)
- Software
- Services
Population Health Management Market: By Mode of Delivery Outlook (2022-2028)
- On Premise Mode of Delivery
- Cloud Based Mode of Delivery
Population Health Management Market: By End Users Outlook (2022-2028)
- Healthcare Providers
- Healthcare Payers
- Other End Users
Population Health Management Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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