Population Health Management Market, By Component (Software, Services), Mode of Delivery (Web-based, Cloud-based, On-premise), End User (Healthcare Providers, Healthcare Payers, Employer Groups, Government Bodies), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and the Rest of the World) – Market Size & Forecasting (2017-2028)

The Global Population Health Management Market size was valued at USD 18.92 billion in 2019 and is anticipated to grow at a CAGR of 29.2% during the forecast period. Population health management is the collection of patient data from multiple sources of health information technology and the transformation of data into a coherent, actionable database of patients that are then used by care providers to optimize both clinical and financial results. This operates on a population by identifying and tracking data within the community of individual patients. Population health management uses a business intelligence tool to maintain and track patient data and improve clinical outcomes while lowering costs. Population health management provides disease management, closing care gaps, cost savings for providers, and better health outcomes. Furthermore, the platform also assists payers and providers to manage risk associated with reimbursement policies.

Population Health Management Market Stats

Population Health Management Market Statistics

Government support for the prevention of disease and HCIT adoption, rising geriatric population and the resulting increase in chronic disease prevalence, the need for affordable treatment options, and digitalization of healthcare systems are factors that will propel the global population health management market during the forecast period. Furthermore, Lack of data management expertise and skilled analysts, reluctance to move from legacy systems and safety concerns concerning patient information are some of the major constraints on population health management market growth.

Population health management is technologically advance and is designed specifically to improve health outcomes at any point. Moreover, in the real world, practical applications of these technologies can improve the individual’s health and drive better outcomes of the population as a whole. The technological advancement in population health extends beyond big data applications for quality assessment and benchmarking capabilities. Also, technology enables the rapid aggregation of individual patient’s data to identify significant patterns in large populations. Advancement in technology that supports population health management like to maintain patient dashboard, automated care management outreach, remote patient monitoring clinical grade, data aggregation, clinical intelligence/analytics, telemedicine, patient engagement, risk stratification. Therefore, the effect of this factor on the population health management market is expected to increase soon with continuously evolving technologies.

Key Factors Impacting the Growth of Population Health Management Market:

  • Technological advancements
  • Increasing market demand for population health management
  • Helps in data security and data integration
  • Cloud computing technology will safeguard patient data
  • Digitalization of healthcare systems

The population health management market segmentation is based on components, mode of delivery, end users, and region. The leading healthcare leaders are looking to the population health management for healthcare as one of the key cost-saving potential regions. The population health management market is currently witnessing high growth due to increased demand in order to provide better healthcare in the shortest possible time and expenses.

Population Health Management Market Segments

Population Health Management Market Segmentation

Component Outlook:

As per the current market scenario, the service segment has covered the largest population health management market share and is projected to register a higher CAGR during the forecast period.  In, Hospitals and other care providers now use an in-house method to analyze their patient data rather than involving third parties. In addition, the growing need for integrated healthcare systems is responsible for the high demand for population health management software. This can be due to the growing acceptance of population health management solutions due to mandates by the Affordable Care Act.

Mode of Delivery Outlook:

The mode of delivery for the generation of revenues in the global population health management market is Web-based. The web-based segment is predicted to account for the largest share in the population health management market. This can be due to the minimal software and hardware needs for using web-based PHM systems (lowering upfront installation costs) and the growing adoption of web-based services by healthcare providers.

End User Outlook:

Based on End User, the population health management market has been segmented into healthcare providers, healthcare payers, employer groups, government bodies. In 2018, the healthcare providers segment accounted for the largest share in the population health management market. Population health management improves clinical outcomes by helping to improve disease management. This will result in a shorter duration of hospitalization and overall physician observation hours.

Population Health Management Market Region

Population Health Management Market Regional Analysis

Regional Outlook:

Based on the region, the global population health management market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, North America holds a dominant position in the global population health management market. The region's dominance is attributable to favorable government policies for the prevention of disease and HCIT adoption, increasing funding for population health management, rising prevalence of chronic diseases, and the presence of well-developed healthcare infrastructure. For Instance, in 2010, the U.S. government implemented the Patient Protection and Affordable Care Act which encourages a high quality of care and reduces costs. The act has encouraged the creation of Accountable Care Organizations (ACOs), including the Medicare Shared Savings Program (MSSP). Also, In Canada, The implementation of the population health commitment by the Canadian government, and increasing prevalence of chronic diseases in the country. In Europe, According to a report carried out by the Organization for Economic Co-operation and Development (OECD), in the year 2017, the average per head expenditure on healthcare in Europe was USD 4077. Furthermore, Asia Pacific is estimated to project the fastest growth rate in the global population health management market during the forecast period. This growth can be accredited to several factors, such as the potentially large patient pool, the rapid development of health infrastructure coupled with increasing healthcare expenditure. In this region, the healthcare system focuses majorly on reducing treatment costs and increasing patient awareness.  The growing investment by industry players through the development of new manufacturing units in the region and rising expenditure also contribute to market growth in the Asia Pacific.

The report analyzes factors affecting the population health management market from both demand and supply side and further analyses market dynamics affecting the market during the forecast year such as driver, restrain, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the population health management market for all six regions namely; North America, Western Europe, Eastern Europe, Asia Pacific, Middle East and the Rest of the world.

Competitive Landscape

Innovative advancement in population health management helps to maintain patient and group health track record to improve patient engagement, data aggregation, and remote monitoring. Major companies are investing in research and development. Key market players are also adopting inorganic development strategies like as acquisition of local brands. Similarly, other business models such as joint venture and market entry strategies are helping prominent vendors to make their presence felt in the population health management market and increase their product portfolio. The key leading players in the market include Epic Corporation, Inc., Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Inc., Healthagen, LLC., OptumHealth, IBM Corporation, Conifer Health Solutions, LLC, Health Catalyst, LLC, Wellcentive, Inc., i2i Population Health, and Verscend Technologies, Inc.

This report also includes the profiles of key population health management market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Population Health Management Market:

  • In August 2018, Allscripts Healthcare, LLC announced that the Electronic Healthcare Network Accreditation Commission has received accreditation from the Healthcare Network Accreditation Program for Payerpath and ePAP accreditation for ePrescribe.
  • In May 2018, the Department of Veterans Affairs announced an agreement with Cerner Government Services-a subsidiary of Cerner-to use its service that will offer veteran care providers access to their medical history through EHRs.
  • In April 2017, McKesson Corporation announced the completion of the acquisition of CoverMyMeds LLC-a developer of Electronic Prior Authorization (ePA) solutions. It also automates the process of prior authorization for more than 500 EHR systems, 700,000 suppliers, 49,000 pharmacies, most health plans and Pharmacy Benefit Managers (PBMs).
  • In December 2017, Royal Philips acquired VitalHealth, in an effort to expand its presence in the field of population health, offering cloud-based population health management solutions.

Population Health Management Market

Population Health Management Market Timeline ( 2017-2028) 

What Does This Report Provide?

This report provides a detailed understanding of the global population health management market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Component

  • Software
  • Services

By Mode of Delivery

  • Web-based
  • Cloud-based
  • On-premise

By End User

  • Healthcare Providers
  • Healthcare Payers
  • Employer Groups
  • Government Bodies

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Component
    • By Mode of Delivery
    • By End User
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Component
    • By Mode of Delivery
    • By End User
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Component
    • By Mode of Delivery
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Component
    • By Mode of Delivery
    • By End User
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Component
    • By Mode of Delivery
    • By End User
  • Rest of the World
    • By Region (South America, Africa)
    • By Component
    • By Mode of Delivery
    • By End User

 Reasons to Buy This Report:

  • Market size estimation of the population health management market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

  • We provide customization of the study to meet specific requirements:
  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: sales@quincemarketinsights.com