The population health management market size is expected to be worth around US$ 184.51 billion by 2030 from valued at USD 28.79 billion in 2020 with a growing CAGR of 20.5% from 2021 to 2030.
Los Angeles, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Population Health Management Market Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030”.
The growth of population health management market is driven by the rising demand for solutions supporting value-based care delivery by healthcare industry players, the increased demand for effective disease management strategies, increasing ageing population and rising prevalence of chronic diseases.
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The population health management system is one that keeps track of patient data. Any hospital has to know about a patient’s medical history. The population health management system aids in the collection and storage of controllable patient data. It’s a business intelligence platform that makes patient management a simple process. In many sectors, technological use is quickly increasing. As a result, the organization’s efficiency is improving. The patient information is disorganized in several areas. It causes lots of new issues in the healthcare industry.
Asia-Pacific is the largest segment for population health management market in terms of region.The medical tourism is the fastest growing industry in the Asia-Pacific region. The fastest growing market for population health management is due to high acceptance rate.
North America region is the fastest growing region in the population health management market. The population health management systems will be in high demand as a result of exceptional reimbursement practices. The biggest contributor in the population health management market is the U.S.
Report Scope of the Population Health Management Market
Market Size in 2020
US$ 28.79 Billion
Growth Rate from 2021 to 2030
Largest Revenue Holder
Fastest Growing Region
Cerner Corporation, Koninklijke Philips N.V., Allscripts Healthcare, LLC, Conifer Health Solutions, LLC, Optum, Inc., Athenahealth, Inc., Enli Health Intelligence, eClinicalWorks, McKesson Corporation, Medecision, Advisory Board, Welltok
Based on the mode of delivery, the web-based medical service segment dominated the global population health management market in 2020 with highest market share. By connecting human population data to this platform, the fundamental goal of the web-based medical service technology is to increase the credibility of the medical services.
Based on the end user, the healthcare providers segment dominated the global population health management market in 2020 with highest market share. The healthcare providers are medical experts who advise patients and offer them with diagnostic and treatment services, such as medicine, in order to help them recover from illnesses.
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Integration of information technology solutions
The use of a population health management system aids in both clinical care and revenue generation. As a result, health-care providers are widely embracing the system. Furthermore, a variety of tools are available, each with a unique function in a variety of care settings. These tools aid in the collection of data and in the leveraging of healthcare finances for patients, payers, and insurers. The penetration of information technology solutions, particularly in business intelligence and data analytics, has been a key factor in the market's advancement. The integration of information technology solutions allows the car provider to remotely monitor patients, collect data, and store data. These factors are likely to fuel the global population health management market's expansion.
High cost of infrastructural investments
The population health management industry is a capital-intensive one. The majority of healthcare providers around the world currently lack adequate infrastructure, which includes technology, staff, data, and other resources to manage complex healthcare cases. Providers must heavily invest in infrastructure development to manage an entire population. Investments are needed in IT infrastructure to increase storage and processing capabilities. To ensure patient participation and health information exchange, web-based and mobile tools, such as Android and iOS apps, must be developed. Thus, the high cost of infrastructural investments is hindering the growth of the population health management market during the forecast period.
Rising prevalence of chronic disorders
The prevalence of chronic illness is a major driving force in the population health management market. Patients seek treatment for chronic illnesses in hospitals. In chronic illness cases, there is a strong need for patient record management and monitoring. The demand for high-quality care has risen in recent years as a result of chronic illness. As a result; the rising prevalence of chronic disorders is creating lucrative opportunities for the growth of the global population health management market during the forecast period.
Lack of data management capacity
In the global population health management market, a lack of data handling capacity in the health business is a serious challenge. There is now only one small health organization capable of managing information of patients. The health industry’s lack of data management expertise is a major concern. It has a potential to slow down the implementation of the population health management systems. Inefficient patient data storage might be caused by a lack of information technology capabilities. Thus, lack of data management capacity is a major challenge for the growth of the global population health management market.
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