Population Health Management Market size is set to grow by USD 22.55 billion from 2024-2028, Rising adoption of healthcare it boost the market, Technavio

NEW YORK, May 28, 2024 /PRNewswire/ -- The global population health management market  size is estimated to grow by USD 22.55 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  12.03%  during the forecast period. 

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Market Driver

The global population health management market is experiencing significant growth due to the emergence of personalized medicine. Genetic testing, driven by decreasing costs and increased availability, plays a key role. Healthcare providers use genetic information for more accurate diagnosis, prognosis, and treatment planning.

Pharmaceutical companies invest in R&D for targeted therapies, focusing on specific genetic profiles. Notable examples include Roche and Novartis in oncology drug development, providing personalized cancer care. These factors are expected to drive market expansion during the forecast period. 

The Population Health Management market is currently experiencing significant growth, with a focus on improving healthcare outcomes for large groups of people. Care programs, technology solutions, and analytics are key areas of investment. Telehealth and remote monitoring technologies are trending, enabling healthcare providers to deliver care more efficiently.

Data-driven insights are essential for identifying and addressing health disparities and managing chronic conditions. Analytics help in predicting and preventing diseases, improving patient engagement, and reducing healthcare costs. Additionally, coordinated care and community engagement are crucial for addressing social determinants of health and improving overall population health. 

Market Challenges

• Population health management market growth may be hindered due to high implementation costs for healthcare organizations. These costs include software licensing, hardware infrastructure, customization, and continuous maintenance.
• Smaller providers in the US, for instance, face significant financial constraints, making it challenging for them to adopt these advanced technologies. Consequently, a digital health technology adoption gap exists, potentially limiting market expansion during the forecast period.
• The Population Health Management market faces several challenges in delivering effective care and improving patient outcomes. These include the need to decipher complex data and deliver personalized care to large populations (Data, Analytics, Patient, Outcomes). Costs and resources are also significant concerns (Costs, Resources).
• Additionally, integrating care across various settings and coordinating efforts among multiple providers can be challenging (Coordination, Providers). Lastly, ensuring equity and access to care for all populations is a critical issue (Equity, Access). Addressing these challenges requires innovative solutions and a commitment to continuous improvement (Innovation, Improvement).

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Segment Overview 

1. Component 
• 1.1 Software
• 1.2 Services
2. Deployment 
• 2.1 Cloud
• 2.2 On-premises
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Software-  The population health management market's software segment is a vital and expanding sector. It enables healthcare organizations to effectively manage and enhance health outcomes for diverse populations. The software component includes data collection, analysis, and utilization solutions. Population health management platforms consolidate data from various sources, such as electronic health records, claims data, and patient-generated data.

These platforms utilize advanced analytics to generate valuable insights, allowing providers to identify at-risk populations, address chronic conditions, and enhance patient outcomes. They also facilitate care coordination, streamline workflows, and implement preventative measures. Key players in this market include Koninklijke Philips NV, McKesson Corp., and ZeOmega Inc.

These software solutions benefit not only healthcare providers but also payers and accountable care organizations. With the shift towards value-driven care models, the demand for advanced population health management software will persistently increase. Consequently, the software segment will fuel the expansion of the global population health management market.

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Research Analysis

The Population Health Management (PHM) market encompasses various solutions and services aimed at improving health outcomes for large groups of patients. These offerings include Healthcare Analytics for identifying trends and patterns in patient data, Patient Engagement tools for fostering communication and collaboration, Care Coordination systems for managing patient care across multiple providers, and Value-Based Care models that incentivize quality and efficiency.

Risk Stratification and Chronic Disease Management are crucial components of PHM, enabling early identification and intervention for high-risk patients. Health Information Exchange and EHR Integration facilitate seamless data sharing among healthcare organizations, while Data Analytics and Predictive Analytics provide insights for Quality Improvement and Health Metrics.

Remote Patient Monitoring, Telehealth, and Disease Prevention are additional services that expand the reach of PHM and enhance patient-centered care. PHM also addresses Health Disparities and Public Health concerns by providing Managed Care organizations with the tools to assess and mitigate Health Risks. Interoperability and Clinical Decision Support systems further enhance the effectiveness of PHM solutions.

Market Research Overview

Population Health Management (PHM) is a proactive approach to healthcare that focuses on managing the health of large groups of people, rather than individual patients. It utilizes data analytics, engagement tools, and interventions to identify and address health risks and improve overall population health. PHM goes beyond traditional disease management by addressing social determinants of health, such as socioeconomic status, education, and environment.

It aims to prevent disease, reduce healthcare costs, and improve patient outcomes. PHM employs various strategies, including care coordination, disease management, wellness programs, and community outreach. It also leverages technology, such as electronic health records and telehealth, to facilitate care delivery and patient engagement. PHM is gaining increasing importance in the healthcare industry due to the rising cost of healthcare and the need to improve population health outcomes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Component
• Software
• Services
• Deployment
• Cloud
• On-premises
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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