Population Health Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (Software, Services), By Mode of Delivery (On-premise, Cloud-based), By End user (Healthcare Providers (Hospitals, ACOs), Healthcare Payers, Employer Groups, Government Bodies), By Region and Competition, 2019-2029F

April 2024 | 180 pages | ID: PD5A1F5B0765EN
TechSci Research

Abstracts

Global Population Health Management Market was valued at USD 57.52 Billion in 2023 and is anticipated to project impressive growth in the forecast period with a CAGR of 9.25% through 2029. In an era marked by increased healthcare costs, growing chronic diseases, and the ever-expanding need for data-driven healthcare solutions, population health management (PHM) has emerged as a crucial strategy to address these challenges. The global population health management market has witnessed significant growth in recent years as healthcare organizations, governments, and insurers recognize the importance of proactively managing the health of their populations.Population health management is a proactive approach to healthcare that focuses on improving the health outcomes of a defined group of individuals, such as patients within a healthcare system or members of a specific community. It encompasses a range of activities, including risk assessment, care coordination, chronic disease management, and wellness promotion. PHM leverages data analytics and technology to identify at-risk individuals, optimize resource allocation, and track health outcomes to ensure the well-being of the population.

Escalating healthcare expenses have pushed healthcare organizations to adopt cost-effective strategies. PHM helps reduce unnecessary healthcare expenditures by targeting high-risk individuals and preventing expensive hospital admissions.The global prevalence of chronic diseases, such as diabetes, heart disease, and obesity, continues to rise. PHM can effectively manage these conditions through early intervention and lifestyle modifications. Governments worldwide are promoting PHM as a means to improve the overall health of their populations and reduce the burden on healthcare systems. Policy support and financial incentives are driving market growth.Advances in health information technology, electronic health records, and data analytics have enabled healthcare organizations to collect, analyze, and act upon patient data more effectively. The aging global population presents a unique set of healthcare challenges. PHM can address the specific needs of this demographic group through personalized care plans and preventive measures.

Key Market Drivers

Increasing Aging Population is Driving the Global Population Health Management Market

The world is witnessing a demographic shift of unprecedented proportions as the global population ages. Advances in healthcare, nutrition, and overall living conditions have led to longer life expectancy, resulting in an aging population that continues to grow. This demographic shift has significant implications for healthcare systems and has driven the expansion of the global population health management market.The aging population is characterized by a higher percentage of individuals aged 65 and older. This demographic shift is a result of several factors, including declining birth rates, increased life expectancy, and improved healthcare.According to the United Nations, the global population aged 65 and older is projected to nearly double from 703 million in 2019 to 1.5 billion by 2050, accounting for approximately 16% of the world's total population.

Advances in medical science, disease management, and improved access to healthcare have significantly increased life expectancy. People are living longer, which is a testament to the successes of modern healthcare.Many developed countries are facing declining birth rates, which contribute to an increasingly aged population. This demographic shift is particularly prominent in regions like Europe and North America.The post-World War II baby boomer generation is reaching retirement age, further contributing to the aging population. This large cohort of individuals is putting immense pressure on healthcare systems.Enhanced living conditions, better nutrition, and greater access to healthcare have allowed people to maintain a higher quality of life as they age, thus contributing to an extended lifespan.

Population health management (PHM) is a comprehensive approach to healthcare that focuses on improving the health and well-being of specific populations, which is especially relevant in the context of an aging society. PHM combines data analytics, care coordination, and patient engagement to address the unique needs of diverse groups of individuals, including the elderly.PHM emphasizes preventive care, allowing healthcare providers to identify and address health risks among the elderly before they escalate into serious medical conditions.With age, the risk of chronic diseases such as diabetes, cardiovascular diseases, and cancer increases. PHM tools help in early diagnosis, monitoring, and effective management of these conditions.PHM solutions can improve medication adherence among the elderly, reducing the risk of medication-related issues and hospitalizations.PHM enables healthcare providers to coordinate care across multiple settings and specialists, ensuring that the elderly receive comprehensive and well-managed healthcare services.Technology-driven remote monitoring allows healthcare providers to keep track of an aging population's health status, reducing hospital readmissions and improving overall care.

Rising Healthcare Costs is Driving the Global Population Health Management Market

The global healthcare landscape is undergoing a significant transformation, marked by the escalating costs associated with healthcare delivery. As healthcare expenses continue to rise, governments, healthcare providers, and organizations are seeking innovative ways to address this challenge. One such solution that has gained prominence is population health management. This approach focuses on improving the health outcomes of entire populations while effectively managing costs. In recent years, the demand for population health management solutions has surged, primarily due to the growing burden of healthcare costs, making it a burgeoning market with immense potential.

Healthcare costs have been steadily on the rise for several decades, and this trend shows no sign of abating. Factors contributing to the escalating healthcare expenses include an aging population, the increasing prevalence of chronic diseases, advancements in medical technology, and the rising costs of prescription drugs. Additionally, the COVID-19 pandemic has further strained healthcare systems worldwide, necessitating higher healthcare spending. These factors collectively put tremendous pressure on healthcare budgets and necessitate a shift towards a more efficient and cost-effective model of healthcare delivery.Population health management, as a concept, involves strategies and technologies that aim to improve the health outcomes of an entire population, rather than just addressing individual health issues. This approach takes a proactive stance, focusing on preventive care, early intervention, and the efficient allocation of resources. By analyzing data from diverse sources, including electronic health records, wearables, and social determinants of health, healthcare providers and organizations can identify at-risk individuals, develop targeted interventions, and ultimately reduce the overall cost of care.

The primary driver behind the growth of the population health management market is the urgent need to curb healthcare costs. By focusing on the health of populations, rather than treating illnesses reactively, healthcare providers can allocate resources more efficiently and reduce the financial burden on healthcare systems.The shift towards value-based care models encourages healthcare providers to prioritize quality and outcomes over volume. Population health management aligns perfectly with this shift, as it helps ensure that patients receive the right care at the right time, ultimately leading to cost savings.The rapid advancement of healthcare technology, including electronic health records, data analytics, and telehealth solutions, has enabled the implementation of population health management strategies. These tools make it easier to collect, analyze, and act on patient data to improve outcomes.Many governments are promoting population health management as a means to improve healthcare delivery while controlling costs. These initiatives are driving investment in the sector and fostering market growth.

Key Market Challenges

Data Management and Interoperability

One of the most significant challenges in population health management is the effective collection, storage, and sharing of healthcare data. The healthcare industry is traditionally fragmented, with different providers and systems using various electronic health records (EHR) and data formats. Achieving interoperability among these systems and ensuring data accuracy and security is an ongoing challenge. A lack of standardized data formats can hinder healthcare organizations' ability to harness the full potential of population health management solutions.

Privacy and Security Concerns

The sensitive nature of healthcare data raises concerns about privacy and security. Healthcare providers and organizations must comply with stringent data protection regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States and the General Data Protection Regulation (GDPR) in the European Union. These regulations impose strict requirements on data handling and sharing, making it a challenge for global population health management solutions to operate across borders while ensuring data security and compliance.

Socioeconomic Disparities

Socioeconomic disparities in access to healthcare and healthcare outcomes present significant challenges for population health management efforts. People with lower incomes or limited access to healthcare resources often experience worse health outcomes. Population health management strategies must address these disparities by providing tailored interventions and outreach to marginalized populations, which can be complex and resource-intensive.

Global Variability in Healthcare Systems

Population health management is further complicated by the vast variability in healthcare systems worldwide. Each country and region has its own healthcare infrastructure, funding mechanisms, and regulatory environments. Implementing a one-size-fits-all population health management solution is not feasible, as it requires customization and adaptation to the specific needs and challenges of each region.

Data Quality and Accuracy

The effectiveness of population health management initiatives heavily depends on the quality and accuracy of the data being used. Inaccurate or incomplete data can lead to misguided decisions and ineffective interventions. Ensuring data integrity, especially in systems with diverse sources of information, is a persistent challenge.

Resistance to Change

Adopting population health management strategies often requires significant changes in how healthcare is delivered and managed. Healthcare professionals and organizations may be resistant to these changes, fearing disruptions or additional administrative burdens. Overcoming this resistance and facilitating the adoption of new approaches can be a major challenge.

Financial Sustainability

Population health management programs often require substantial financial investments. While they have the potential to yield cost savings in the long run, securing the initial funding for implementation can be a significant challenge for healthcare organizations, particularly in resource-constrained settings.

Regulatory and Policy Hurdles

Navigating the complex web of regulations and policies governing healthcare is a challenge that can vary greatly from one region to another. Policymakers need to align regulations with the goals of population health management, which often involves overcoming bureaucratic hurdles and political considerations.

Key Market Trends

Technological Advancements

In recent years, the global healthcare industry has witnessed a profound transformation, thanks to technological advancements that are revolutionizing patient care, data management, and overall healthcare operations. One of the notable areas where technology is making a significant impact is population health management. The global population health management market is experiencing remarkable growth, driven by the convergence of healthcare expertise and cutting-edge technology.Technological advancements have enabled healthcare providers to collect, store, and analyze vast amounts of patient data. Advanced analytics and machine learning algorithms can identify trends and predict potential health risks for individuals or communities. By using predictive modeling, healthcare professionals can intervene early to prevent or manage chronic diseases effectively.

Electronic Health Records (EHRs) have become essential tools in population health management. EHRs facilitate the seamless exchange of medical information among different healthcare providers, leading to better coordination of care and the reduction of duplicate or unnecessary tests and procedures.Telehealth solutions and remote monitoring devices have made healthcare accessible and convenient. Patients can now engage in virtual consultations, receive timely reminders for medications, and have their vital signs monitored remotely. These technologies not only improve patient engagement but also enable healthcare providers to keep a close eye on patients' health conditions between office visits.

The rise of wearable technology, such as fitness trackers and smartwatches, has empowered individuals to take more control over their health. These devices can track steps taken, monitor heart rate, and even detect early warning signs of health issues. Data collected from wearables can be integrated into population health management strategies, offering real-time insights into patients' health and lifestyle choices.Specialized software solutions, designed for population health management, have emerged as essential tools for healthcare organizations. These platforms allow providers to aggregate and analyze data, coordinate care, and identify at-risk populations. They offer care teams the ability to develop tailored care plans and intervene with precision.

Segmental Insights

Component Insights

Basedon the category of Component, Services emerged as the dominant player in the global market for Population Health Management in 2023.Service providers offer care coordination services, which are essential for ensuring that patients receive the right care at the right time. This includes care transitions, case management, and ensuring that patients follow their care plans. Efficient care coordination helps prevent unnecessary hospitalizations and complications, ultimately reducing costs.Identifying high-risk patients is a key aspect of PHM. Service providers use data analytics to stratify patients based on their health risks. They then offer targeted interventions and resources to manage these risks effectively. This approach not only improves outcomes but also optimizes resource allocation.: Engaging patients in their own healthcare is crucial for successful population health management. Services focused on patient engagement use various tools and techniques to educate and motivate individuals to make healthier choices, adhere to treatment plans, and stay connected with their care providers.

End user Insights

The Healthcare Providers segment is projected to experience rapid growth during the forecast period. Healthcare providers have access to vast amounts of patient data, including electronic health records (EHRs), medical history, and billing information. This data is crucial for understanding patient populations, identifying high-risk individuals, and implementing personalized care plans. Healthcare providers can offer continuous care to patients, allowing for more effective management of chronic conditions and preventive care. This continuity fosters patient engagement and adherence to treatment plans, essential elements of successful PHM programs. Healthcare providers often have the infrastructure, resources, and expertise required to implement comprehensive PHM solutions. This includes care teams, advanced health information technology, and established referral networks. Governments and payers are increasingly promoting PHM initiatives through incentives and regulations. Healthcare providers are well-positioned to meet these requirements and can benefit from the financial incentives associated with value-based care models.

Regional Insights

North America emerged as the dominant player in the global Population Health Management market in 2023, holding the largest market share in terms of value. One of the primary reasons for North America's leadership in population health management is its advanced healthcare infrastructure. The region boasts a robust network of healthcare providers, hospitals, and medical institutions, which provides a solid foundation for the implementation of population health management solutions. This infrastructure enables the collection, analysis, and dissemination of health data on a large scale, facilitating the development of effective strategies to improve the health of the population. North America has been at the forefront of technological innovation in healthcare. With the rise of electronic health records (EHRs), telemedicine, and health informatics, the region has created an ecosystem that supports the efficient management of population health. These technological advancements allow for the seamless exchange of health information among providers and the integration of data analytics tools, all of which are essential for effective population health management.

Key Market Players

Cerner Corporation

Epic Systems Corporation

Koninklijke Philips

i2i Population Health

Health Catalyst

Enli Health Intelligence

eClinicalWorks

Allscripts Healthcare Solutions

IBM Corporation

HealthEC LLC

Report Scope:

In this report, the Global Population Health Management Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Population Health Management Market,By Component:

oSoftware

oServices

Population Health Management Market,By Mode of Delivery:

oOn-premise

oCloud-based

Population Health Management Market,By End user:

oHealthcare Providers

oHealthcare Payers

oEmployer Groups

oGovernment Bodies

Population Health Management Market, By Region:

oNorth America

• United States
• Canada
• Mexico

oEurope

• France
• United Kingdom
• Italy
• Germany
• Spain

oAsia-Pacific

• China
• India
• Japan
• Australia
• South Korea

oSouth America

• Brazil
• Argentina
• Colombia

oMiddle East Africa

• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Population Health Management Market.

Available Customizations:

Global Population Health Management market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Contents

1.SERVICE OVERVIEW

1.1.Market Definition
1.2.Scope of the Market
  1.2.1.Markets Covered
  1.2.2.Years Considered for Study
  1.2.3.Key Market Segmentations

2.RESEARCH METHODOLOGY

2.1.Objective of the Study
2.2.Baseline Methodology
2.3.Key Industry Partners
2.4.Major Association and Secondary Components
2.5.Forecasting Methodology
2.6.Data Triangulation Validation
2.7.Assumptions and Limitations

3.EXECUTIVE SUMMARY

3.1.Overview of the Market
3.2.Overview of Key Market Segmentations
3.3.Overview of Key Market Players
3.4.Overview of Key Regions/Countries
3.5.Overview of Market Drivers, Challenges, Trends

4.GLOBAL POPULATION HEALTH MANAGEMENT MARKET OUTLOOK

4.1.Market Size Forecast
  4.1.1.By Value
4.2.Market Share Forecast
  4.2.1.By Component (Software, Services)
  4.2.2.By Mode of Delivery (On-premise, Cloud-based)
  4.2.3.By End user (Healthcare Providers (Hospitals, ACOs), Healthcare Payers, Employer Groups, Government Bodies)
  4.2.4.By Region
  4.2.5.By Company (2023)
4.3.Market Map
  4.3.1.By Component
  4.3.2.By Mode of Delivery
  4.3.3.By End user
  4.3.4.By Region

5.ASIA PACIFIC POPULATION HEALTH MANAGEMENT MARKET OUTLOOK

5.1.Market Size Forecast
  5.1.1.By Value
5.2.Market Share Forecast
  5.2.1.By Component
  5.2.2.By Mode of Delivery
  5.2.3.By End user
  5.2.4.By Country
5.3.Asia Pacific: Country Analysis
  5.3.1.China Population Health Management Market Outlook
    5.3.1.1.Market Size Forecast
      5.3.1.1.1.By Value
    5.3.1.2.Market Share Forecast
      5.3.1.2.1.By Component
      5.3.1.2.2.By Mode of Delivery
      5.3.1.2.3.By End user
  5.3.2.India Population Health Management Market Outlook
    5.3.2.1.Market Size Forecast
      5.3.2.1.1.By Value
    5.3.2.2.Market Share Forecast
      5.3.2.2.1.By Component
      5.3.2.2.2.By Mode of Delivery
      5.3.2.2.3.By End user
  5.3.3.Australia Population Health Management Market Outlook
    5.3.3.1.Market Size Forecast
      5.3.3.1.1.By Value
    5.3.3.2.Market Share Forecast
      5.3.3.2.1.By Component
      5.3.3.2.2.By Mode of Delivery
      5.3.3.2.3.By End user
  5.3.4.Japan Population Health Management Market Outlook
    5.3.4.1.Market Size Forecast
      5.3.4.1.1.By Value
    5.3.4.2.Market Share Forecast
      5.3.4.2.1.By Component
      5.3.4.2.2.By Mode of Delivery
      5.3.4.2.3.By End user
  5.3.5.South Korea Population Health Management Market Outlook
    5.3.5.1.Market Size Forecast
      5.3.5.1.1.By Value
    5.3.5.2.Market Share Forecast
      5.3.5.2.1.By Component
      5.3.5.2.2.By Mode of Delivery
      5.3.5.2.3.By End user

6.EUROPE POPULATION HEALTH MANAGEMENT MARKET OUTLOOK

6.1.Market Size Forecast
  6.1.1.By Value
6.2.Market Share Forecast
  6.2.1.By Component
  6.2.2.By Mode of Delivery
  6.2.3.By End user
  6.2.4.By Country
6.3.Europe: Country Analysis
  6.3.1.France Population Health Management Market Outlook
    6.3.1.1.Market Size Forecast
      6.3.1.1.1.By Value
    6.3.1.2.Market Share Forecast
      6.3.1.2.1.By Component
      6.3.1.2.2.By Mode of Delivery
      6.3.1.2.3.By End user
  6.3.2.Germany Population Health Management Market Outlook
    6.3.2.1.Market Size Forecast
      6.3.2.1.1.By Value
    6.3.2.2.Market Share Forecast
      6.3.2.2.1.By Component
      6.3.2.2.2.By Mode of Delivery
      6.3.2.2.3.By End user
  6.3.3.Spain Population Health Management Market Outlook
    6.3.3.1.Market Size Forecast
      6.3.3.1.1.By Value
    6.3.3.2.Market Share Forecast
      6.3.3.2.1.By Component
      6.3.3.2.2.By Mode of Delivery
      6.3.3.2.3.By End user
  6.3.4.Italy Population Health Management Market Outlook
    6.3.4.1.Market Size Forecast
      6.3.4.1.1.By Value
    6.3.4.2.Market Share Forecast
      6.3.4.2.1.By Component
      6.3.4.2.2.By Mode of Delivery
      6.3.4.2.3.By End user
  6.3.5.United Kingdom Population Health Management Market Outlook
    6.3.5.1.Market Size Forecast
      6.3.5.1.1.By Value
    6.3.5.2.Market Share Forecast
      6.3.5.2.1.By Component
      6.3.5.2.2.By Mode of Delivery
      6.3.5.2.3.By End user

7.NORTH AMERICA POPULATION HEALTH MANAGEMENT MARKET OUTLOOK

7.1.Market Size Forecast
  7.1.1.By Value
7.2.Market Share Forecast
  7.2.1.By Component
  7.2.2.By Mode of Delivery
  7.2.3.By End user
  7.2.4.By Country
7.3.North America: Country Analysis
  7.3.1.United States Population Health Management Market Outlook
    7.3.1.1.Market Size Forecast
      7.3.1.1.1.By Value
    7.3.1.2.Market Share Forecast
      7.3.1.2.1.By Component
      7.3.1.2.2.By Mode of Delivery
      7.3.1.2.3.By End user
  7.3.2.Mexico Population Health Management Market Outlook
    7.3.2.1.Market Size Forecast
      7.3.2.1.1.By Value
    7.3.2.2.Market Share Forecast
      7.3.2.2.1.By Component
      7.3.2.2.2.By Mode of Delivery
      7.3.2.2.3.By End user
  7.3.3.Canada Population Health Management Market Outlook
    7.3.3.1.Market Size Forecast
      7.3.3.1.1.By Value
    7.3.3.2.Market Share Forecast
      7.3.3.2.1.By Component
      7.3.3.2.2.By Mode of Delivery
      7.3.3.2.3.By End user

8.SOUTH AMERICA POPULATION HEALTH MANAGEMENT MARKET OUTLOOK

8.1.Market Size Forecast
  8.1.1.By Value
8.2.Market Share Forecast
  8.2.1.By Component
  8.2.2.By Mode of Delivery
  8.2.3.By End user
  8.2.4.By Country
8.3.South America: Country Analysis
  8.3.1.Brazil Population Health Management Market Outlook
    8.3.1.1.Market Size Forecast
      8.3.1.1.1.By Value
    8.3.1.2.Market Share Forecast
      8.3.1.2.1.By Component
      8.3.1.2.2.By Mode of Delivery
      8.3.1.2.3.By End user
  8.3.2.Argentina Population Health Management Market Outlook
    8.3.2.1.Market Size Forecast
      8.3.2.1.1.By Value
    8.3.2.2.Market Share Forecast
      8.3.2.2.1.By Component
      8.3.2.2.2.By Mode of Delivery
      8.3.2.2.3.By End user
  8.3.3.Colombia Population Health Management Market Outlook
    8.3.3.1.Market Size Forecast
      8.3.3.1.1.By Value
    8.3.3.2.Market Share Forecast
      8.3.3.2.1.By Component
      8.3.3.2.2.By Mode of Delivery
      8.3.3.2.3.By End user

9.MIDDLE EAST AND AFRICA POPULATION HEALTH MANAGEMENT MARKET OUTLOOK

9.1.Market Size Forecast
  9.1.1.By Value
9.2.Market Share Forecast
  9.2.1.By Component
  9.2.2.By Mode of Delivery
  9.2.3.By End user
  9.2.4.By Country
9.3.MEA: Country Analysis
  9.3.1.South Africa Population Health Management Market Outlook
    9.3.1.1.Market Size Forecast
      9.3.1.1.1.By Value
    9.3.1.2.Market Share Forecast
      9.3.1.2.1.By Component
      9.3.1.2.2.By Mode of Delivery
      9.3.1.2.3.By End user
  9.3.2.Saudi Arabia Population Health Management Market Outlook
    9.3.2.1.Market Size Forecast
      9.3.2.1.1.By Value
    9.3.2.2.Market Share Forecast
      9.3.2.2.1.By Component
      9.3.2.2.2.By Mode of Delivery
      9.3.2.2.3.By End user
  9.3.3.UAE Population Health Management Market Outlook
    9.3.3.1.Market Size Forecast
      9.3.3.1.1.By Value
    9.3.3.2.Market Share Forecast
      9.3.3.2.1.By Component
      9.3.3.2.2.By Mode of Delivery
      9.3.3.2.3.By End user

10.MARKET DYNAMICS

10.1.Drivers
10.2.Challenges

11.MARKET TRENDS DEVELOPMENTS

11.1.Recent Developments
11.2.Product Launches
11.3.Mergers Acquisitions

12.GLOBAL POPULATION HEALTH MANAGEMENT MARKET: SWOT ANALYSIS

13.PORTER’S FIVE FORCES ANALYSIS

13.1.Competition in the Industry
13.2.Potential of New Entrants
13.3.Power of Suppliers
13.4.Power of Customers
13.5.Threat of Substitute Product

14.COMPETITIVE LANDSCAPE

14.1.Cerner Corporation
  14.1.1.Business Overview
  14.1.2.Company Snapshot
  14.1.3.Product Services
  14.1.4.Financials (In case of listed)
  14.1.5.Recent Developments
  14.1.6.SWOT Analysis
14.2.Epic Systems Corporation
14.3.Koninklijke Philips
14.4.i2i Population Health
14.5.Health Catalyst
14.6.Enli Health Intelligence
14.7.eClinicalWorks
14.8.Allscripts Healthcare Solutions
14.9.IBM Corporation
14.10.HealthEC LLC

15.STRATEGIC RECOMMENDATIONS

16.ABOUT US DISCLAIMER