Global Population Health Management Market Report and Forecast 2024-2032

Global Population Health Management Market Outlook

The global population health management market size attained a value of USD 42.53 billion in 2023. The market is anticipated to grow at a CAGR of 17% during the forecast period of 2024-2032 to attain a value of USD 174.73 billion by 2032. The market growth is driven by the increased innovation in analytical devices and widespread application across the globe.

Global Population Health Management Market Overview

Population health management (PHM) is a systematic, all-encompassing approach to gather and analyse patient-specific health data. It includes patient involvement, data analytics, care coordination, integration, measurement of value-based healthcare, and health information management. It emphasises enhancing patient results, overall patient experience, and population health.

The population health management market demand is anticipated to witness further growth due to the increasing use of IT in the healthcare industry. The market growth is expected to be driven by advantages provided by population health management systems, such as data integration, remote patient monitoring, and data storage. Also, the use of IT solutions, particularly in business intelligence and data analytics, is also supporting the growth of the market.

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Value-based payment (VBP) models have replaced fee-for-service (FFS) models as a result of the growing demand from healthcare stakeholders for solutions supporting value-based care delivery. The market is also anticipated to increase as a result of the rising demand for efficient disease management techniques.

The growing emphasis on personalised medicines will present advantageous chances for population health management to advance. Businesses in the healthcare industry can treat each patient uniquely using cutting-edge analytics and predictive modeling technologies, producing the best possible results and contributing significantly to the population health management market share.

Increased healthcare investments in the market have also been contributing significantly to the market growth, resulting in the growing deployment of healthcare information technology. Additionally, rising urbanisation and increased spending on healthcare infrastructure are also likely to escalate the demand for population health management.

Strategic Collaborations between Key Players to Bring the Best Solution in the Market

Rising collaborations between the leading companies in the market are anticipated to provide significant impetus to population health management market growth. In October, 2023, Wolters Kluwer Health announced its Health Language Platform, an FHIR Terminology Server, that will work with Microsoft Azure Health Data Services FHIR service to help customers enrich and standardize their healthcare data with medical ontologies on Microsoft Azure. Wolters Kluwer Health organizes health data to make it insightful and comprehendible and Microsoft Azure will provide safety and security to the data making it better and accessible to healthcare professionals and enhancing the decision-making process and overall population health management. This collaboration is expected to drive traction of healthcare market players towards such solutions and potential future investments to continuously improve the existing solution, resulting in increased global population health management market demand and projecting an upward trajectory during the forecast period.

Rising Introduction of Innovative Products to Drive Significant Growth

In September 2023, ClosedLoop, a healthcare data science platform, launched two new solutions, ACO-Predict and Evaluate, to help measure and guide the real-world impact of healthcare programs. The tools are designed to help healthcare organizations analyze, evaluate, monitor, and refine their programs to mitigate adverse events, improve outcomes, and reduce unnecessary costs. Such tools are perfect for healthcare organizations trying to assess whether their healthcare programs are performing well or not. When healthcare programs can exhibit positive results, such as improving health outcomes, avoiding problems, and saving money, they are likely to be adopted by more organizations, propelling market growth.

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Global Population Health Management Market Segmentation

Market Breakup by Components

• Software

• Services

• Post-Sale and Maintenance Services

• Consulting Services

• Training and Education Service

• Implementation Services

Market Breakup by Mode of Delivery

• On-Premises

• Cloud Based

Market Breakup by End User

• Healthcare Providers

• Healthcare Payers

• Employer Group

• Government Bodies

• Others

Market Breakup by Distribution Channel

• Hospitals Pharmacies

• Retail Pharmacies

• Online Pharmacies

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Population Health Management Regional Analysis

North America is expected to lead the global market for population health management owing to the rise in healthcare expenses and increasing geriatric population. By precisely measuring the health of the population and its subgroups, governments are putting more effort into providing incentives and implementing programs to enhance the state of the health of their respective countries. The market for population health management in North America is further anticipated to be driven by factors such as increasing diseases, regulatory environment, pressure on the healthcare industry to lower medical expenses, expanding use of information technology in healthcare, and cloud computing.

For instance, in October 2023, The Department of Health and Mental Hygiene launched a new Center for Population Health Data Science. The Center will speed up critical internal work and enable the agency, in its role as the City’s health strategist, to make progress toward linking public health, healthcare, and social service data. The new center targets to assist New York City’s population health surveillance, and improve outcomes by linking healthcare, public health, and social service data, bolstering the population health management market growth. The accumulated data at the new center will enable healthcare professionals to keep track of patterns and comprehend the requirements of healthcare in specific neighborhoods. Such efforts help the health department and other organizations plan and create better ways to take care of everyone's health.

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Global Population Health Management Market: Competitor Landscape

In September 2023, Health Catalyst, Inc., a company that offers data and analytics technology and services to healthcare organizations has recently announced that two of its technologies, Health Catalyst Pop Analyzer™ and Health Catalyst Care Flow™, have received National Committee for Quality Assurance (NCQA) Prevalidation for Population Health Management in 2023.

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.

The major companies in the market are as follows:

• MCKESSON CORPORATION

• Verisk Analytics, Inc

• Forward Health Group, Inc

• Health Catalyst

• Athenahealth, Inc.

• Cerner Corporation

• Medecision

• Xerox Corporation

• Allscripts Healthcare, LLC

• Fonemed

• General Electric

• HealthBI

• NXGN Management, LLC

• Optum Inc.

• Conifer Health Solutions, LLC

• Siemens Healthcare GmbH

• IBM

• Koninklijke Philips N.V.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report