Population Health Management Market

Global Population Health Management Market Size (2024 to 2032)

The size of the global population health management market was worth USD 25.42 billion in 2023. The global market is anticipated to grow at a CAGR of 11.5% from 2024 to 2032 and be worth USD 67.70 billion by 2032 from USD 28.34 billion in 2024. 

MARKET DRIVERS

The growing prevalence of chronic diseases worldwide is one of the major factors propelling the growth of the population health management market.

The population suffering from chronic diseases such as CVDs, cancer, diabetes, and others is growing rapidly worldwide and causing significant mortalities and disabilities. WHO says more than 71% of the deaths worldwide have a connection with chronic diseases. Often, these diseases are completely preventable but require ongoing medication and effective disease management. Population health management solutions can significantly help patients, healthcare professionals, and healthcare payers by providing the data required to identify patients who are at risk of developing chronic diseases and provide early interventions to prevent the progression of the disease. Population health management solutions can further help chronic disease patients by providing personalized care plans, monitoring disease progression, and coordinating care across multiple providers.

The growing demand for value-based care at an affordable cost to the public is another key factor contributing to the market growth.

The solutions of population health management assist healthcare professionals with the required data and insights to offer improved patient outcomes, reduced healthcare costs, and increased patient satisfaction. Technological advancements favor the market’s growth rate. The integration of recent technological advancements such as the IoT, big data analytics, and AI enables the possibility to collect and analyze large amounts of healthcare data, help identify patterns and trends, and develop targeted interventions to improve patient outcomes.

In addition, the growing number of initiatives from several governments in favor of PHM supports market growth. Governments of several countries worldwide have taken numerous initiatives to improve population health while reducing healthcare costs. Providing people with access to quality healthcare is one of the primary goals of any government, and PHM solutions can help governments achieve this goal with the required data trends. Such initiatives result in favor and boost the adoption of PHM solutions by healthcare professionals and eventually contribute to market growth. The rising emphasis on preventative care that can prevent diseases and promote wellness boosts the growth rate of the market.

Furthermore, factors such as the growing healthcare costs due to the increasing aging population, increasing demand for healthcare services, advances in medical technology, the growing shift towards patient-centric care, the rising number of healthcare data breaches, and growing focus on population health fuel the growth rate of the PHM market. 

MARKET RESTRAINTS

The lack of skilled professionals, data breaches, and interoperability issues primarily hamper the population health management market. In addition, factors such as data security and privacy concerns as PHM handles the sensitive data of the patients, lack of standardization and high costs associated with the implementation of PHM solutions further hinder the market’s growth rate. Furthermore, stringent regulatory requirements for PHM, such as HIPAA resistance from healthcare professionals to habituate to the new technologies and processes and limited access to healthcare in some regions impede the market growth.

Impact Of Covid-19 On The Global Population Health Management Market

The COVID-19 pandemic has shown a favorable impact on the growth of the population health management (PHM) market. Due to the COVID-19 pandemic, healthcare systems worldwide went under immense pressure and struggled to cope with the challenges posed to them. During the COVID-19 pandemic, the adoption of digital health technologies has increased significantly as several healthcare providers worldwide have used digital health technologies to continue offering the required medical care to patients while reducing the risk of exposure to the virus, which resulted in the increased demand for population health solutions that can integrate with these digital healthcare tools and technologies. In addition, the need for population health analytics has increased during the COVID-19 pandemic and contributed to market growth. During the COVID-19 pandemic, the need to analyze population health data to identify trends, monitor the spread of the virus, and develop targeted interventions to mitigate its impact has increased dramatically and this has also resulted in the increased number of investments for the development of PHM tools and technologies. Furthermore, the COVID-19 pandemic accelerated the need to focus on preventive care and chronic disease management. The need for insights from population health management that helps identify and manage chronic diseases has become extremely crucial during the COVID-19 pandemic. Likewise, the COVID-19 pandemic has favored the population health management market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Population Health Management Market Analysis By Component

Based on the component, the services segment captured the largest share of the global population health management market in 2023 and this segment is anticipated to witness a promising CAGR during the forecast period. Factors such as the growing demand for consulting services and training programs to improve patient outcomes, an increasing need for post-sale and maintenance services majorly boost the growth rate of the segment. In addition, the implementation of PHM solutions requires specialized expertise, and healthcare providers are increasingly relying on third-party service providers to assist in the implementation and management of these solutions further promoting segmental growth.

The software segment is anticipated to witness a healthy CAGR during the forecast period owing to the rising need for efficient data management and analysis, growing demand for personalized medicine and value-based care and the implementation of electronic health records (EHRs) and other digital health initiatives drive the segmental growth.

The hardware segment occupied a moderate share of the worldwide market in 2023 and is predicted to grow steadily during the forecast period. The segmental growth is majorly driven by the growing patient population of chronic diseases worldwide, the increasing need for remote patient monitoring devices and the rising demand for wearables and other health monitoring devices.

Global Population Health Management Market Analysis By Solution

Based on the solution, the data integration & management segment held the leading share of the population health management market worldwide in 2023 and is estimated to showcase a noteworthy CAGR during the forecast period. The growth of the segment is primarily attributed to factors such as the growing need for data interoperability and the rising adoption of EHRs. The growing demand for population health management solutions that can integrate and manage patient data from disparate sources further boosts the segment’s growth rate.

On the other hand, the patient engagement segment is expected to hold a considerable share of the worldwide market in 2023 and is expected to grow promisingly during the forecast period. Factors such as the growing adoption of mobile health apps, wearables, and other digital health technologies, rising emphasis on preventive care and the need to improve patient outcomes by healthcare professionals majorly promote segmental growth.

Global  Population Health Management Market Analysis By Delivery Mode

Based on the delivery mode, the cloud-based segment accounted for the major share of the worldwide market in 2023 and is expected to continue to lead the market throughout the forecast period. The growing adoption of cloud computing, increasing demand for cost-effective and scalable healthcare IT solutions, rising need for real-time access to patient data, the growing prevalence of chronic diseases, and the shift towards value-based care models primarily drive segmental growth.

The web-based segment captured a considerable share of the global market in 2023 and is anticipated to register a healthy CAGR during the forecast period. The segmental growth is primarily driven by factors such as the growing adoption of healthcare IT solutions, the availability of advanced healthcare IT infrastructure, an increasing need to improve patient outcomes, reduce healthcare costs, and enhance patient engagement majorly boosting the growth rate of the segment.

On the other hand, the cloud-based and app-based segments are predicted to witness a lucrative CAGR during the forecast period.

Global Population Health Management Market Analysis By End-User

Based on end-user, the healthcare providers segment led the market in 2023 and is expected to hold a substantial share of the worldwide market during the forecast period. Factors such as the growing adoption of population health management solutions to improve patient outcomes and reduce healthcare costs. The growing prevalence of chronic diseases, the shift towards value-based care models, and the need for interoperability among healthcare providers, the large number of healthcare providers and advanced healthcare IT infrastructure further contribute to the segmental growth.

REGIONAL ANALYSIS

Geographically, the North American region held the largest share of the worldwide market in 2023 and the regional domination is anticipated to continue throughout the forecast period. The growth of the North American population health management market is majorly attributed to the presence of many healthcare providers and payers, advanced healthcare IT infrastructure, and favorable government initiatives. The growing prevalence of chronic diseases, the need to reduce healthcare costs, and the shift towards value-based care models further boost the growth rate of the North American market. The growing adoption of telehealth and remote monitoring technologies across North America is another major factor fueling regional market growth. The U.S. had the major share of the North American market in 2023, followed by Canada.

Europe is a promising regional market for population health management and is estimated to hold a considerable share of the worldwide market during the forecast period. Factors such as the growing adoption of digital health solutions, favorable government policies, and the rising need to improve patient outcomes majorly boost the population health management market in Europe. In addition, the growing prevalence of chronic diseases, the shift towards value-based care models, and the need for interoperability fuel the growth rate of the European market. The rising demand for personalized medicine and precision healthcare across the European region and the growing focus on data privacy and security regulations further support the European market growth. The UK led the European market in 2023 and is anticipated to control a substantial share of the European market throughout the forecast period owing to the high adoption rate of population health management solutions.

APAC is predicted to witness the fastest CAGR among all the regions in the worldwide market during the forecast period. The growth of the APAC population health management market is driven by the growing adoption of digital health solutions, the rising prevalence of chronic diseases, and the increasing need to improve healthcare outcomes. In addition, the rising healthcare expenditure, favorable government initiatives, and increasing need for cost-effective healthcare solutions contribute to regional market growth. Furthermore, the growing prevalence of infectious diseases in the APAC region and the rapid adoption of artificial intelligence and machine learning technologies across Asia-Pacific fuel the regional market. China accounted for the major share of the APAC market in 2023.

Latin America occupied a considerable share of the worldwide market in 2023 and is expected to register a healthy CAGR during the forecast period. The growth of the Latin American population health management market is majorly attributed to the popularity of mobile health solutions in Latin America that are anticipated to boost the demand for app-based population health management solutions and the growing emphasis on value-based care models and the need to improve patient outcomes.

The population health management market in MEA captured a moderate share of the worldwide market in 2023 and is expected to grow at a steady pace during the forecast period. The rising demand for healthcare services in the region and increasing focus on healthcare digitization favors the growth of the MEA population health management market.

KEY PLAYERS IN THE POPULATION HEALTH MANAGEMENT MARKET

Companies that are playing a dominating role in the global population health management market analyzed in this report are Cerner Corporation, Allscripts Healthcare Solutions Inc., McKesson Corporation., International Business Machines Corporation (IBM), Health Catalyst, Koninklijke Philips N.V., Optum Inc., Conifer Health Solutions, LLC., Lumeris, ZeOmega, Healthagen LLC, Persivia and UnitedHealth Group.

RECENT MARKET DEVELOPMENTS

• In January 2020, MyndYou Inc. enabled EHR providers by partnering with Allscripts to promote population health through the care portal, app platform, and virtual care manager, identifying the patients' risk.

• In July 2019, to boost population health, Epic made a partnership with Connected Care.    

• In June 2018, to enable the visionware Support i2i, population health partnered with Visionware to establish the healthcare centers' foundation.

DETAILED SEGMENTATION OF THE GLOBAL POPULATION HEALTH MANAGEMENT MARKET INCLUDED IN THIS REPORT

This research report on the global population health management market has been segmented and sub-segmented based on the component, solution, delivery mode, end-user, and region.

By Component

• Hardware
• Software
• Services
  • Consulting Training & Education
  • Post-Sale & Maintenance Services
  • Others

By Solution

• Analytics
  • Predictive Analytics
  • Point Of Care Decision Support
  • Others
• Care Coordination
  • Care Management Workflow Automation
  • Care Team Coordination
  • Real-Time Alerting
  • Others
• Patient Engagement
  • Multi-Modal Communication
  • Monitoring & Compliance
  • Treatment Plan
  • Remote Monitoring
  • Others
• Data Integration and Management
  • Data Warehousing
  • Real-Time Data Exploration
  • Clinical Data Integration
  • Financial Data Integration
  • Data Warehousing
  • Others

By Delivery Mode

• Web-Based
• Cloud-Based
• On-Premises
• App-Based

By End-User

• Healthcare Providers
• Healthcare Payers
• Government Organizations
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa