Population health management (PHM) is a comprehensive approach that involves gathering and analyzing health data of individuals within a population. It encompasses patient engagement, care coordination, integration of healthcare services, value-based care measurement, and effective health information management. The main objective of PHM is to enhance the overall health of a population and improve healthcare outcomes. It enables both patients and healthcare providers to access real-time medical information, facilitating proactive and personalized care.
According to Data Bridge Market Research, the Population Health Management (PHM) Market accounted for USD 29.88 billion in 2022, and expected to reach USD 128.48 billion by 2030. The market is expected to grow with a CAGR of 20% in the forecast period of 2023 to 2030.
“Increasing incidence of chronic disorders”
The population health management sector is primarily driven by the high prevalence of chronic diseases. Globally, approximately one-third of adults suffer from multiple chronic conditions, while in the United States, around six out of ten adults are affected by chronic illnesses. As a result, the maintenance and monitoring of patient records become crucial. The market's growth is also fuelled by the increasing demand for effective treatment options.
What restraints the growth of population health management (PHM) market?
“High cost of population health management equipment”
The utilization of operating room equipment is impeded, especially in low-income countries, due to the considerable operational costs involved. This has emerged as a significant barrier to the growth of the population health management (PHM) market. The procurement and maintenance expenses associated with the necessary equipment present challenges in establishing an efficient system. Consequently, the market's potential for growth is constrained by the financial burden of acquiring and managing the required equipment. Overcoming these cost-related obstacles is crucial for the advancement of PHM and wider accessibility to its benefits, particularly in resource-constrained settings.
Segmentation: Global Population Health Management (PHM) Market
The population health management (PHM) market is segmented on the basis of platform, component and application.
- On the basis of platform, the population health management (PHM) market is segmented into cloud-based, on premise.
- On the basis of component, the population health management (PHM) market is segmented into software, services.
- On the basis of application, the population health management (PHM) market is segmented into healthcare providers, healthcare payers, others.
Regional Insights: North America dominates the Population Health Management (PHM) Market
North America dominates the population health management (PHM) market because of the growing incidences of chronic disorders in this region. Furthermore, increasing healthcare costs and growing healthcare expenditure will enhance this region's market's growth rate.
Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030 due to increasing healthcare expenditure and demand for effective disease management strategies in this region. The factors, such as pressure on the healthcare industry to decrease medical costs and increasing use of information technology in healthcare, are boosting the market growth.
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Recent Developments
- In 2020, Manorama Infosolutions and Allscripts formed a partnership to enable Manorama to integrate the Allscripts interoperability platform, dbMotion Solution, with the Lifeline Suite of solutions. This will allow the company to expand its reach into India and other regions.
- In 2021, Phillips Healthcare entered into a partnership with openDoctor with an aim to deliver an integrated radiology patient engagement platform. With this agreement, Philips Patient Management Solution and openDoctor enable a transformation in contactless registration, patient radiology scheduling, and automated communications and education, all from a mobile device.
The Prominent Key Players Operating in the Population Health Management (PHM) Market Include:
- MCKESSON CORPORATION (U.S.)
- Verisk Analytics, Inc (U.S.)
- Forward Health Group, Inc (U.S.)
- Health Catalyst (U.S.)
- athenahealth, Inc. (U.S.)
- Cerner Corporation (U.S.)
- Medecision (U.S.)
- Xerox Corporation (U.S.)
- Allscripts Healthcare, LLC (U.S.)
- Fonemed (Canada)
- General Electric (U.S.)
- HealthBI (U.S.)
- NXGN Management, LLC (U.S.)
- Optum Inc. (U.S.)
- Conifer Health Solutions, LLC (U.S.)
- IBM (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Siemens Healthcare GmbH (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of population health management (PHM) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Population Health Management (PHM) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. 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 vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
