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population health management market

Population Health Management Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By End-Use (Healthcare Providers, Healthcare Payers, Others); By Mode Of Delivery; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Apr 2022
  • Pages: 114
  • Format: PDF
  • Report ID: PM2369
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global population health management market was valued at USD 24.96 billion in 2021 and is expected to grow at a CAGR of 13.5% during the forecast period. The rising demand for patient-centric care solutions due to healthcare's increasing awareness is anticipated to rise the market growth for population health management over the forecast period.

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Population health management offers improved care coordination & efficient patient engagement, and financial and care models. Additionally, the growing government initiatives toward public health and the rising incidences of diseases across the globe create lucrative population health management market growth.

The threat of spreading the virus and consciousness towards health is the major driving factor that stimulates market adoption in the projected years. Additionally, rising R & D activities in the medical sector amplify the market growth. The penetration of digital and electronic devices and increasing expenditure on technological development impetus the market growth for population health management over the forecast period.

The outbreak of the COVID-19 has shown a significant influence on almost all sectors of the economy. The population health management market was overwhelmed by the rapid increase in the number of patients and growing requirements for medical services worldwide. Population health management has played a vital role in the betterment of public health during the pandemic, which has gained massive traction among the end-users.

Moreover, the strict lockdown rules, social distancing, and other restrictions have created various requirements for electronic data transfer solutions that may further stimulate market demand. Hence, the widespread of COVID-19 brings an upsurge in the market demand and is also anticipated to foster the market demand for population health management over the coming years.

Population Health Management Market Report 2030

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Industry Dynamics

Growth Drivers
The surging demand for better medical facilities is the amplifying factor that has witnessed high market growth in the projected years. The penetration of hospitals and clinics globally to provide improved medical facilities are adopting the population health management systems, which give impetus to market growth. Additionally, rising government focus on public health is expected to stimulate the market expansion globally.

Moreover, chronic diseases, the rising geriatric population, and an increasing number of patients and pregnant women push the market demand. For instance, as per The World Bank 2020, the geriatric population in 2017 was about 8.6% of the total world’s population, increasing rapidly and reaching approximately 8.9 % by 2018.

In 2019, the global geriatric population aged 65 and above reached 9.1%. And the amount increased worldwide in 2020 and accounted for approximately 9.3% population aged 65 and above. Hence, the rapid increase in the geriatric population is fostering the market demand as they are more prone to getting affected by various diseases.

Report Segmentation

The market is primarily segmented on the basis of component, mode of delivery, end-use, and region.

By Component

By Mode of Delivery

By End-Use

By Region

  • Software
  • Services
  • On-Premise
  • Cloud-Based
  • Healthcare Providers
  • Healthcare Payers
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Component

Based on the component, the software segment held the largest share in 2021 of the global market and is anticipated to dominate the market over the forecast period. The growing implementation of the software solutions by providers and payers and rising spending on the development of the software solution are the primary factors accelerating the segment demand.

In addition, the growing need for enhanced patient engagement, cost-effectiveness, decreasing readmissions, boosting operational efficiency, and aid in data integration and analysis is attributed to the segment demand. In comparison, the service segment is expected to witness the highest growth over the coming years.

The rising demand for a patient-centered Medical Home (PCMH) is a holistic method designed to advance care coordination, likely to adopt various digital solutions for offering optimum and effective patient care. Furthermore, growing investment in medical IT services and rising incidences of chronic diseases are fueling the segment demand.

Insight by End-Use

The healthcare providers segment is expected to account for the highest share in 2021 and is expected to dominate over the forecast period. The rising advancement and technological investment in the medical sector worldwide is the major driving factor for the population health management industry.

In addition, various governments, hospitals, and clinics have raised the budget and expenditure on the medical sector, and shifting towards digitalization may propel market growth. The rising presence of the leading industry players and increasing patient pool create the demand for the segment growth.

Moreover, the growing number of hospitals, diagnostic centers, clinics, etc., are expected to propel the market growth for population health management. For instance, according to the Agency for Healthcare Research and Quality in 2017, the number of injuries is increasing rapidly worldwide.

The U.S. is the leading country in population health management. As per the same source, approximately 754,000 knee replacements were carried out in the United States. Thus, with the rising cases of injuries are expected to drive the market growth for population health management.

Moreover, the Healthcare payers are projected to exhibit a progressive growth rate in the forecasting years. Rising medical awareness and increasing disposable income boost the industry growth in the forecast period. Additionally, the changing lifestyle and habits and increasing incidences of diseases are growing rapidly worldwide, bolstering the industry expansion for population health management.

The increasing public and government spending on the medical sector boost the market growth in the foreseen years. For instance, according to International Monetary Fund in 2021, the U.S., along with the World Bank, European Union, and African development bank, is providing financial support for the development of the medical sector in several ways in June 2021, the United States disbursed USD 772 million in the budget support for the Covid vaccination procurement and infrastructure.

Geographic Overview

Geographically, North America accounted for the largest revenue share in the global market. The increasing federal medical mandates to minimize costs, rising government initiatives, increasing adoption of EHRs, and awareness of personalized and value-based reimbursements are the chief factors stimulating the industry growth for population health management over the coming years.

The presence of major industry players across the region is another major factor driving the growth, such as Epic Systems Corporation, Cerner Corporation, Light beam Health Solutions, Conifer Health Solutions, SPH Analytics, and Innovaccer. For instance, according to the American Heart Association, cardiovascular diseases are projected to cause around 17.3 million deaths globally every year.

Furthermore, the cases are estimated to rise by about 23.6 million by 2030. In addition, in March 2021, the U.S. government provided around USD 1,844 billion, i.e., about 8.8 percent of the total GDP, towards public health improvement. President Trump signed approximately USD 868 billion for the relief of coronavirus.

Asia Pacific is expected to exhibit the highest CAGR due to the increasing disposable income over the years. Growing medical tourism is the significant factor pushing the growth in the foreseen years. Implementing strict government regulation is another primary factor augmenting market growth for population health management.

In India, each state has more than around 30 diagnostic centers, and the numbers are increasing. It includes Andhra Pradesh with more than 400 diagnostic centers, Assam with about 120 diagnostic centers, Bihar with approximately 400 and more diagnostic centers, and Chandigarh with more than 81 diagnostic centers.

Moreover, according to NAT HEALTH, in 2019, the Indian laboratory diagnostic industry is expected to reach a value of USD 6 billion in coming years. Consequentially these factors would create various growth prospects, augmenting the industry growth for population health management.

Competitive Insight

Some of the major players operating in the global market for population health management include ZeOmega, McKesson Corporation, Koninklijke Philips, Lumeris, Cerner Corporation, Healthagen LLC, Health Catalyst, UnitedHealth Group, and Persivia.

Population Health Management Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 24.96 Billion

Revenue forecast in 2030

USD 74.91 Billion

CAGR

13.5% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Million/Billion and CAGR from 2022 to 2030

Segments covered

By Component, By Mode of Delivery, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

ZeOmega, McKesson Corporation, Koninklijke Philips, Lumeris, Cerner Corporation, Healthagen LLC, Health Catalyst, UnitedHealth Group, and Persivia.

Key Take-Away
Polaris Market Research
Global Population Health Management Market Size Report, 2022 - 2030