New York, USA, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Population Health Management Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Population Health Management Market Information By Component, Solution, Delivery Mode, End-User, and Region - Forecast till 2030”, the market will reach USD 278.7 billion by 2030, at a 19.2% CAGR.
Population Health Management Market Synopsis
In a population health management program, patient data is compiled from multiple sources of health information technology. As a result, healthcare practitioners can analyze these compiled data to create a single, actionable patient record, which helps improve their patients' clinical and financial outcomes. A business intelligence tool is typically used in population healthcare management programs to aggregate data, enabling healthcare providers to create a precise and accurate clinical picture of each patient. The healthcare system has undergone a significant change recently and has become increasingly patient-centered.
The process of improving clinical health outcomes for a particular group of people through better care coordination and patient participation, which suitable financial and care models support, is known as population health management (PHM). Its primary objective is to collect and assess clinical data from a patient's healthcare setting to identify chances to enhance the patient's health and the provider's financial outcomes. With this idea, primary care population management will change from reactive to proactive. Population health management is a patient-friendly platform that aids in controlling treatment costs by offering more affordable alternatives. The software also assists payers and service providers in risk management related to reimbursement policies. In recent years, the healthcare system has evolved to a great extent and turned out to be patient-centric.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 278.7 Billion |
| CAGR | 19.2% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, Solution, Delivery Mode and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The prevalence of chronic illness and favorable government regulations |
| Growing elderly population and High healthcare investments |
Population Health Management Market Competitive Landscape:
The illustrious contenders in the population health management market are:
- Forward Health Group
- Epic Systems Corporation
- Population Health
- Conifer Health Solutions
- Health Catalyst
- Cotiviti
- Lumeris
- Koninklijke Philips
- Citra Health Solutions
- Orion Health
- Arcadia
- HealthEC LLC
Population Health Management Market U.S.P. Covered:
Market Drivers:
Because of its easy availability, ease of data interchange, and ease of interoperability with doctors, healthcare smart devices for remote health monitoring are in demand. Additionally, the market growth for population health management is greatly aided by improvements in the personalization of medications and increased investments in the healthcare sector. The increased implementation of population health management has been largely attributed to the switch from fee-for-service (FFS) to value-based payment (VBP) in the healthcare industry. This is partly because organizations that effectively aggregate data and analyze population health data afterward can better coordinate and administer care.
The demand for high-quality therapy has recently increased due to chronic sickness. More healthcare management services are needed due to the rising demand for treatment. Another significant factor influencing the market for population health management is high healthcare investments. It is encouraging the use of healthcare IT. PHM is frequently utilized to offer ongoing monitoring and care to patients due to the increased occurrence of cardiological and neurological illnesses. Market expansion is also being aided by the expanding use of PHM solutions to improve clinical outcomes for patients by giving access to medical data to healthcare professionals with a range of medical specialties.
Market Restraints:
The population health management technology requires much capital. Many regions lack basic healthcare infrastructure. The health industry finds it challenging to incorporate these cutting-edge technologies. Significant investments are required to build a health management system for such a large population. The hospital needs IT and a compatible system before implementing a population health system. Web-based apps must be integrated into the software.
Browse In-depth Market Research Report (80 Pages) on Population Health Management: https://www.marketresearchfuture.com/reports/population-health-management-market-3123
Population Health Management Market COVID 19 Analysis
Medical facilities are under great stress due to the COVID-19 epidemic, and the global healthcare system is routinely overloaded with patients. The expanding incidence of COVID-19 across several nations has heightened the demand for reliable diagnostic and therapeutic tools. In this regard, population health management (PHM) solutions have proven to be very helpful as they allow healthcare providers to easily integrate solutions like electronic health records, care management, and patient management and solutions from healthcare payers like payment and claim management.
Limited access to medical treatment, a staffing deficit in the healthcare industry, and an increase in COVID-19-related hospitalization are a few more variables that impact the market. The rising incidence of COVID-19 has heightened the demand for reliable diagnostic and therapeutic tools in diverse nations. As a result of the health management program's growing focus on value-based payment (VBP) and Accountable Care Organizations, medical reimbursement is evolving (ACOs). Furthermore, value-based payment models' simplicity contributes to ACOs' increased use of community health solutions.
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Population Health Management Market Segmentation
By component, the market is divided into hardware and others.
The market is divided into data integration & management, analytics, and others by solution.
By delivery mode, the market is divided into on-premise and others.
By end-user, the market is divided into healthcare providers and others.
Population Health Management Market Regional Insights
The region that dominated the global market for population health management is expected to continue to do so over the forecast period North America. Technology developments in population health management systems, the incorporation of cutting-edge software & data analytics, and the presence of important businesses in the area are all credited with this. However, due to the region's growing senior population, expanding healthcare infrastructure, and an increasing number of investment projects, Asia-Pacific is expected to experience significant growth. Further, the Asia-Pacific PHM market is anticipated to grow rapidly in China and India.
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During the forecast period, a relatively higher CAGR is expected to be achieved in the markets in Europe and Asia-Pacific. PHM market expansion in Europe is estimated to be fueled by lower initial acceptance and anticipated growth in the adoption of population health management due to great growth potential. It is projected that rising specialty and multi-chain hospitals in Asia-Pacific, along with expanding healthcare IT infrastructure, will fuel market expansion.
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