Chicago, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Population health management seeks to reduce healthcare costs, improve access to quality care, and promote health equity across different populations. The goal is to create a healthier, more equitable society by targeting the causes of poor health and promoting better health outcomes. Population health management includes activities such as disease prevention, health promotion, and management of chronic conditions. It is an evidence-based approach that utilizes data to identify and prioritize health needs, develop and implement strategies to improve health outcomes, and measure progress.
Population Health Management Market in terms of revenue was estimated to be worth $27.8 billion in 2022 and is poised to reach $53.3 billion by 2027, growing at a CAGR of 13.9% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The current edition of the report consists of an updated market overview for each country in the geographic analysis chapter. Country-wise market size and market share have also been provided.
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Population Health Management Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2022 | $27.8 billion |
| Estimated Value by 2027 | $53.3 billion |
| Growth Rate | Poised to grow at a CAGR of 13.9% |
| Market Size Available for | 2020–2027 |
| Forecast Period | 2022–2027 |
| Forecast Units | Value (USD Billion) |
| Report Covers | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, End user & Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increasing focus on value-based medicine |
| Key Market Drivers | Rising geriatric population in the burden of chronic diseases. |
Notable population health management mergers and acquisitions for 2021 – 2022 include:
- Cerner Corporation and Change Healthcare announced a strategic partnership in January 2021 to combine Cerner’s population health management (PHM) capabilities with Change Healthcare’s claims and analytics offerings.
- Humana acquired the population health technology company, Genoa Healthcare, in March 2021.
- In April 2021, Optum and the Advisory Board Company announced a merger that will combine Optum’s population health management capabilities with the Advisory Board Company’s technology and analytics.
- In May 2021, CVS Health announced the acquisition of Aetna, which includes a population health management component.
- In June 2021, UnitedHealth Group announced the acquisition of Change Healthcare, which includes a population health management component.
Growth Drivers of Population Health Management Market from Macro to Micro.
- Macro Level:
- Government policies and regulations
- Economic trends and conditions
- Technological advances
- Social values and demographics
- Micro Level:
- Consumer behavior and preferences
- Provider incentives and resources
- Health literacy and patient engagement
- Healthcare data and analytics
- Self-management tools and technologies
- Population health interventions
- Interoperability of systems
- Quality measures and improvement efforts
The healthcare industry is likely to be one of the most heavily impacted industries by population health management in the future. Population health management focuses on helping individuals and populations improve their overall health and well-being by better understanding and managing their physical, mental, and social health. This includes providing preventative care and health screenings, improving healthcare access, and addressing social determinants of health. By using data and analytics, healthcare providers will be able to more effectively target treatments and services, reduce costs, and improve outcomes. This will help to create a more efficient and cost-effective healthcare system and ultimately improve the overall health and well-being of the population.
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Hypothetic challenges of population health management market in near future:
- Increased competition from other health organizations: With the growing popularity of population health management, health organizations face increased competition from other organizations providing similar services.
- Lack of industry standards for data analysis and sharing: There is currently a lack of standardized data analysis and data sharing protocols in the population health management market, which can lead to inefficient data management and security concerns.
- Healthcare provider buy-in: Many healthcare providers are hesitant to adopt population health management initiatives due to the perceived complexity of the system and the lack of economic incentives.
- Limited funding: Population health management initiatives require significant upfront investments in technology, personnel, and training. This can be cost-prohibitive for many healthcare organizations.
- Regulatory compliance: Health organizations must ensure that all population health management initiatives comply with relevant regulations, such as HIPAA and HITECH.
- Lack of qualified personnel: There is a shortage of qualified personnel to implement and manage population health management initiatives.
- Security concerns: Population health management systems must be designed and implemented with advanced security measures to protect confidential patient data.
Top 3 use cases of population health management market:
- Disease Management: Population health management solutions can help health care organizations manage and track chronic diseases such as diabetes, asthma, and cardiovascular disease. By providing real-time insights into the health of a population, health care organizations can develop tailored interventions to prevent and manage chronic illnesses.
- Care Coordination: Population health management solutions facilitate the coordination of care across health systems and providers. By leveraging a patient's electronic health record (EHR), providers can quickly and easily access the information they need to make informed treatment decisions.
- Quality Improvement: Population health management solutions enable providers to measure and track quality metrics such as patient satisfaction and outcomes. By understanding performance and outcomes over time, providers can identify areas for improvement and develop strategies to improve quality of care.
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