Population Health Management (PHM) Market to Reach Value of US$ 184.51 Billion by 2030, and Grow at CAGR of 20.5%, Contrive Datum Insights

Contrive Datum Insights Private Limited

According to a market research study published by Contrive Datum Insights, North America contributed 46.9% to the revenue of the population health management market.

FARMINGTON, Jan. 25, 2023 (GLOBE Newswire) — Global Population Health Management (PHM) Market was valued at US$ 34.44 billion in 2022 and is projected to reach US$ 184.51 billion by 2030, growing at a CAGR of 20.5% from 2023 to 2030., Population health management (PHM) is the process of improving clinical health outcomes for a given population through improved care coordination and patient engagement, supported by appropriate financial and service models. Its primary purpose is to collect and analyze clinical data from the patient’s health care environment in an effort to improve the health of the patient as well as the financial outcomes of the provider. This concept shifts the delivery of primary care services from reactive to proactive.

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It provides comprehensive, well-researched ideas for changing systems and policies that affect health care quality, access, and outcomes. This enhances the general health of the population and drives the PHM market. In general, PHM programs use a business intelligence (BI) tool to collect data and provide a comprehensive clinical picture of each patient. Clinicians can use the data to monitor outcomes of care and, with any luck, improve them while reducing costs.

Population Health Management (PHM) Market Recent Changes:

  • July 2021 Healthix and The Garage announced a partnership to launch a professional population health management platform for subscriptions called Municipal. The platform will help Healthix organize, manage and analyze its vast store of patient data.

  • June 2021 – Amtiro Health, LLC and Innovator Inc. announced a partnership to develop a population health analytics platform for the North Carolina Managed Medicaid Care launch. In addition to helping both companies join a value-based payment arrangement, the partnership will help develop a platform to support North Carolina’s transition to managed care, specifically high-end care accommodations and providers .

  • December 2020 Cerner Corporation announced that it has signed an agreement to acquire Kantar Health, a division of Kantar Group. This acquisition will help propel the Learning Health Network to engage more directly in the life sciences for Kerner funded research.

Population Health Management (PHM) Market Segmentation Analysis:

The service segment has the largest market share in terms of revenue. This is due to the fact that hospitals and other care providers prefer to use their own solutions and systems rather than allowing third parties access to patient information. The increased need for integrated healthcare systems also contributes to the growth in demand for PHM. With rising healthcare expenditure, firms are investing heavily in research and development (R&D) to create innovative technologies that can help healthcare organizations. For example, in June 2019, Health Catalyst, Inc. announced its Population Health Foundation solution.
In 2019, healthcare providers captured the largest proportion of the population health management market. PHM enhances outcomes for medical centers and clinics by providing them with more effective disease management strategies. As a result, patients spend less time in hospitals and medical centers as patients, and physicians spend less time seeing patients overall. Therefore, providers can focus more on minimizing overall expenses and putting patient needs first. In addition, a substantial amount of money is being invested in acute hospital care, which is expected to increase the number of providers in the coming years. The growing number of elderly individuals who suffer from chronic diseases is a major factor in the rapid expansion of the market for healthcare services.

Regional Outlook:

North America is expected to account for 46.9% of the population health management market revenue in 2021. In 2021, total US health care spending is projected to reach $4.8 trillion, or nearly 20% of GDP. As a result, the alarming rise in health care expenditure increases the demand for an efficient PHM. The administration is focused on providing more stimulus and investing more to enhance the health of the nation. This is achieved by carefully monitoring the health of the population and its subgroups. In North America, the market for population health management is being pushed by factors such as demand from the healthcare industry to reduce costs, increasing use of information technology in healthcare, cloud computing, regulatory environment, and increase in disease prevalence.
The US government enacted the Affordable Care Act (ACA) to promote the use of IT in health care and prevent disease. This will contribute to market expansion and provide service providers with more opportunities to collect and store patient information.

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Report Scope:

report properties

Description

growth rate

20.5, from 2023 to 2030

Market size in 2022

usd 34.44 billion

Revenue forecast till 2030

USD 184.51 billion

by product and service

software, services

by end user

Healthcare Providers, Healthcare Payers, Other End Users

by companies

Cerner Corporation (US), Epic Systems Corporation (US), Koninklijke Philips (Netherlands), i2i Population Health (US), Health Catalyst (US), Optum (US), Enli Health Intelligence (US), eClinicalWorks (US), Allscripts Healthcare Solutions (US), IBM Corporation (US), HealthEC LLC (US), MediciGen (US), Arcadia (US), Athenahealth (US), Cotivity (US), NextGen Healthcare Inc. (US), Conifer Health Solutions (US), SPH Analytics (US), Lightbeam Health Solutions (US), Innovasar (US), Lumeris (US), Zomega (US), HGS Healthcare, LLC (US), Persevia (US) ) ), Color Health Inc., (US), and others

base year

2022

historic year

2017 to 2021

forecast year

2023 to 2030

Market Drivers:

The health care systems of many countries are expected to be greatly affected by the aging population and the associated increase in the incidence of diseases. As government funding shrinks, there are fewer health professionals in some areas, and more individuals are developing chronic conditions, the effects of an aging population are becoming even more apparent.

Market Restrictions:

About one-third of healthcare data breaches result from medical identity theft. This is primarily due to inadequate internal controls over patient information, inadequate support from senior management, outdated or disregarded policies and procedures, and inadequate staff training. All of these reasons have led to an increase in healthcare data breaches and cases of medical identity theft. This makes it extremely difficult for the healthcare profession to maintain patient confidentiality.

market opportunity:

Value-based medicine is changing the practice of healthcare by collecting and creating meaningful data based on outcomes. Business Intelligence (BI) helps healthcare organizations determine what data they need. It also helps them to analyse, evaluate and use this information to understand the full costs and benefits and gain a competitive advantage. It also clarifies all the procedures so that each purchase can be evaluated on the basis of its value, utility and results.

Major Segments Covered in the Population Health Management (PHM) Market:

Top Market Players:
Cerner Corporation (US), Epic Systems Corporation (US), Koninklijke Philips (Netherlands), i2i Population Health (US), Health Catalyst (US), Optum (US), Enli Health Intelligence (US), eClinicalWorks (US), Allscripts Healthcare Solutions (US), IBM Corporation (US), HealthEC LLC (US), MediciGen (US), Arcadia (US), Athenahealth (US), Cotivity (US), NextGen Healthcare Inc. (US), Conifer Health Solutions (US), SPH Analytics (US), Lightbeam Health Solutions (US), Innovasar (US), Lumeris (US), Zomega (US), HGS Healthcare, LLC (US), Persevia (US) ) ), Color Health Inc., (US), and others.

by product and service

through distribution

by end user

  • health care providers

  • healthcare payer

  • other end users

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)

  • Europe: (Germany, France, Italy, Spain, UK, Nordic countries, Benelux Union, Rest of Europe)

  • Asia Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

  • Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)

  • Latin America: (Brazil, Argentina, Rest of Latin America)

  • rest of the world

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