July 23, 2024

Population Health Management Solution Market Trends: A Comprehensive Exploration

Population Health Management Solution Market

Market Overview:
Population health management solution aims to identify high-risk patients, share patient health data across healthcare providers, develop risk assessment models, create personalized care plans, track clinical outcomes and costs. These solutions help healthcare organizations to manage financial and clinical outcomes of a defined population by strategies like preventive care, disease management programs, and evidence-based treatment protocols. It allows healthcare providers to proactively monitor patient health and intervenes only when needed.

The Population Health Management Solution Market is estimated to be valued at US$ 32.89 Bn or Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The population health management solution market is primarily driven by increasing focus of healthcare providers on value-based care and patient-centric approach. Value-based care aims to improve patient outcomes and lower healthcare costs by focusing on preventive care, coordination of care, and population health analytics. This requires real-time population health data, predictive analytics, and care management tools which are facilitated by population health management solutions. Additionally, growing need to curtail rising healthcare expenditures is also augmenting the demand for these data-driven solutions in the market. Further, government initiatives to promote healthcare IT and EHR adoption across providers are expected to significantly support population health management solution uptake over the forthcoming years.

Segment Analysis
The population health management solutions market is segmented based on component, deployment model, end user, and region. The component segment is divided into software and services. The software segment dominates the market owing to the increasing adoption of healthcare administrative and clinical software to improve patient care.

PEST Analysis
Political: Regulations around value-based care and quality criteria are driving the adoption of population health management solutions.
Economic: Population health management solutions help reduce overall healthcare costs by improving outcomes. This is encouraging investments in these solutions.
Social: Growing awareness about preventive healthcare and emphasis on patient-centric care is increasing demand for population health management.
Technological: Adoption of AI, analytics, cloud computing is facilitating personalized and proactive healthcare using population health management solutions.

Key Takeaways
The global population health management solution market is expected to witness high growth, exhibiting 15% CAGR over the forecast period, due to increasing focus on value-based medicine and need for cost reduction.

The North American region dominates the market owing to favorable government initiatives and increasing healthcare investments in the US and Canada. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to improving access to healthcare in emerging countries.

Key players operating in the population health management solution market are Allscripts Healthcare, LLC (U.S.), Oracle Corporation (U.S.), Deloitte Tohmatsu LLC (U.K.), Epic Systems Corporation (U.S.), Conifer Health Solutions, LLC. (U.S.), GE Healthcare (U.S.), The International Business Machines Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), i2i Population Health (U.S.), McKesson Corporation (U.S.), Medecision (U.S.), Health Catalyst (U.S.), and UnitedHealth Group (U.S.). These players are focusing on partnerships and new product launches to gain more market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it