Global Population Health Management (PHM) Market, By Platform (Cloud-Based, On-Premise), Component (Software, Services), End User (Healthcare Providers, Healthcare Payers, Others) – Industry Trends and Forecast to 2029
Global Population Health Management (PHM) Market Analysis and Size
The population health management (PHM) market is estimated to increase rapidly over the forecast period. Because of the complexity of care delivery and payment mechanisms, the demand for population health services that combine numerous capabilities is growing. Clinical, financial, and operational data can be processed through population health management (PHM) solutions, which can help enhance efficiency and patient care. Medical reimbursement is changing as a result of the increased emphasis on value-based payment (VBP) and Accountable Care Organizations in the health management program (ACOs). Furthermore, ACOs' greater embrace of population health solutions is due to the simplicity provided by value-based payment models.
- Data Bridge Market Research analyses that the population health management (PHM) market was valued at USD 24.9 billion in 2021 and is expected to reach USD 103.76 billion by 2029, registering a CAGR of 19.53 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Platform (Cloud-Based, On-Premise), Component (Software, Services), End User (Healthcare Providers, Healthcare Payers, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
McKesson Corporation (US), ZeOmega (USA), Verisk Analytics, Inc. (US), Forward Health Group, Inc. (US), Health Catalyst (US), Athena health, Inc. (US), Cerner Corporation (US), Medecision (US), Xerox Corporation (US), Allscripts Healthcare, LLC (US), Fonemed (Canada), Well Centive, Inc. (US), General Electric Company (US),HealthBI (US),NXGN Management, LLC (US), Optum Inc. (US), i2i Population Health (US), Conifer Health Solutions, LLC (US), IBM (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthcare GmbH (Germany), Arthrex (US)
Global Population Health Management (PHM) Market Definition
Population health management (PHM) is a focused, holistic strategy to collecting and evaluating a patient's health-related data. Patient involvement, care coordination, integration, value-based care measurement, data analytics, and health information management are all part of the package. It focuses on improving population health, the whole patient experience, and improving healthcare outcomes. PHM also provides several solutions that aid in the delivery of patient-centered care by lowering readmission rates and ensuring that suitable and optimal therapies are implemented. It also helps patients and healthcare providers have real-time access to medical information. As a result, PHM is widely used by healthcare professionals, both public and private, in both the public and private sectors.
Population Health Management (PHM) Market Dynamics
- Increasing prevalence of chronic diseases
Chronic illness is a major driving force in the population health management sector. Patients go to hospitals for treatment of long-term ailments. In chronic illness cases, patient record maintenance and surveillance are critical. The demand for effective treatment has increased in recent years as a result of chronic sickness. Increased treatment demand necessitates additional healthcare management services.
- Rise in the level of healthcare investments
Another important driver for the population health management industry is high healthcare investments. It is resulting in the deployment of healthcare information technology.
Furthermore, the rising geriatric population will act as a major factor influencing the growth of population health management (PHM) market. Increasing urbanization and increasing expenditure on healthcare infrastructure are the major market drivers that will further escalate the growth of population health management (PHM) market. Because of the rising prevalence of cardiological and neurological diseases, PHM is frequently used to provide continuous surveillance and care to patients. Additionally, the growing use of PHM solutions to enhance clinical outcomes for patients by offering access to medical information to healthcare professionals from a variety of medical specializations is boosting market growth.
- Growing focus on personalized medicines
Moreover, the rising focus on personalized medicines will provide beneficial opportunities for growth in population health management (PHM). Healthcare businesses can use advanced analytics and predictive modelling technologies to treat each patient individually, resulting in the best potential outcomes. Over time, analytics has becoming more widely used to tailor cancer and other disease treatment.
Moreover, growing focus on value-based medicines and increasing the number of emerging markets will further provide beneficial opportunities for the population health management (PHM) market growth during the forecast period. Also, technological advancement and implementation of various government initiatives for promoting public health will enhance the market's growth rate.
Restraints/Challenges Global Population Health Management (PHM) Market
- High investments in infrastructure to set up robust PHM program
However, the high costs of operating room equipment are limiting its use, particularly in low-income countries, and will impede the population health management (PHM) market's growth rate.
On the other hand, the dearth of skilled analysts and data management capabilities will challenge the population health management (PHM) market. Additionally, interoperability issues and data breach concerns will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This population health management (PHM) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the population health management (PHM) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Population Health Management (PHM) Market
Medical practices of all sizes are under tremendous strain as a result of the COVID-19 outbreak, and healthcare facilities around the world have been overwhelmed by the high number of patients who see them on a regular basis. In various countries, the rising prevalence of COVID-19 has fueled need for reliable diagnosis and treatment technologies. Population health management systems have proven to be quite useful in this area, as they allow healthcare providers to easily combine solutions such as EHR, patient management, and care management with healthcare payer solutions such as claim management and payment management.
It also provides improved security in addition to data storage. Throughout the programme, patient information is kept private. With the programme, financial and decision-making in the health sector has been easier. The healthcare industry is evolving rapidly. Many hospitals are using EHR systems. This time has seen positive trends in EHR and population health management solutions. The market forecast for population health management is favourable.
- In February 2020. Manorama Infosolutions and Allscripts had formed a partnership (India). The agreement was formed to allow Manorama to integrate the Allscripts interoperability platform, dbMotion Solution, with the Lifeline Suite of solutions, allowing the company to expand its reach into India and other growing regions.
Global Population Health Management (PHM) Market Scope
The population health management (PHM) market is segmented on the basis of platform, component and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of platform, the population health management (PHM) market is segmented into cloud-based and on premise.
Based on component, the population health management (PHM) market is segmented into software and services. Services have been further segmented into post-sale and maintenance services, consulting services, training and education services and implementation services.
- Healthcare Providers
- Healthcare Payers
The population health management (PHM) market is also segmented on the basis of end-user into healthcare providers, healthcare payers and others.
Population Health Management (PHM) Market Regional Analysis/Insights
The population health management (PHM) market is analysed and market size insights and trends are provided by country, platform, component and end-user as referenced above.
The countries covered in the population health management (PHM) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the population health management (PHM) market because of the increasing incidences of chronic disorders in this region. Additionally, rise in healthcare costs and increasing healthcare expenditure will flourish the market's growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to rising healthcare expenditure and enhancing demand for effective disease management strategies in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The population health management (PHM) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for population health management (PHM) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the population health management (PHM) market. The data is available for historic period 2010-2020.
Competitive Landscape and Population Health Management (PHM) Market Share Analysis
The Population health management (PHM) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to population health management (PHM) market.
Some of the major players operating in the population health management (PHM) market are:
- McKesson Corporation (US)
- ZeOmega (USA)
- Verisk Analytics, Inc (US)
- Forward Health Group, Inc (US)
- Health Catalyst (US)
- Athena health, Inc (US)
- Cerner Corporation (US)
- Medecision (US)
- Xerox Corporation (US)
- Allscripts Healthcare, LLC (US)
- Fonemed (Canada)
- Well Centive, Inc. (US)
- General Electric Company (US)
- HealthBI (US)
- NXGN Management, LLC (US)
- Optum Inc. (US)
- i2i Population Health (US)
- Conifer Health Solutions, LLC (US)
- IBM (US)
- Koninklijke Philips N.V. (Netherlands)
- Siemens Healthcare GmbH (Germany)
- Arthrex (US)
Research Methodology : Global Population Health Management (PHM) Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-population-health-management-phm-market
Customization Available : Global Population Health Management (PHM) Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.