With the emergence and long-term Impact of COVID-19, Global Population Health Management Market to reach USD 52.96 Billion by 2028
Bizwit Research & Consulting LLP’s Recent Analysis on Global Population Health Management Market is poised to raise up to USD 52.96 Billion by 2028. Population Health Management (PHM) is a program where patients’ data is accumulated into groups. This system is majorly adopted by the pharmaceutical industry, healthcare sector, and insurance sector as it facilitates the analysis of these data into a single and actionable patient record. This system allows professionals to maintain and improve the clinical and financial outcomes of their patients. The chief factors such as the increasing number of government policies for healthcare IT solutions, the growing need for curtailing rising healthcare costs, as well as a rising geriatric population are significantly attributed to the market growth. For instance, according to the UN Population Division, there were 703 million persons aged 65 years or over worldwide in 2019, and the amount is likely to reach 1.5 billion in 2050. However, increasing focus on value-based and personalized medicine impedes the growth of the market over the forecast period of 2022-2028. Also, the emergence of nanotechnology is anticipated to act as a catalyzing factor for the market demand during the forecast period.
Geographically, the Global Population Health Management market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is the leading region across the world in terms of market share owing to the rising proliferation of EHRs, increasing the number of government initiatives for personalized medicine, and value-based reimbursements. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the initiation of various IT programs, the increasing geriatric population, coupled with the growing incidences of chronic diseases would create lucrative growth prospects for the Population Health Management Market across the Asia-Pacific region.
The Global Population Health Management market is highly competitive owing to the presence of several key manufacturers such as Allscripts Healthcare Solutions, Epic Systems Corporation, Lightbeam Health Solutions, Conifer Health Solutions, IBM Corporation, Health Catalyst, Cerner Corporation, SPH Analytics, Citra Health Solutions, Evolent Health, Inc. and others.
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Global Population Health Management Market Size study, By Component (Software, Services), By Mode of Delivery (On-Premise Mode of Delivery, Cloud-Based Mode of Delivery), By End-User (Healthcare Providers, Healthcare Payers, Other End-Users) and Regional Forecasts 2022-2028
Key findings of the study suggest:
- Global Population Health Management Market is anticipated to grow with a healthy growth rate of more than 13.4% over the forecast period 2023-2030.
- In the Component segment, Services has emerged as the leading market segment in 2022
- In the Mode of Delivery segment, Cloud-Based Mode of Delivery emerged out as the leading market segment in 2022.
- In the End-user segment, Healthcare has emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth Owing to rising proliferation of EHRs, increasing the number of government initiatives for personalized medicine, and value-based reimbursements.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Mode of Delivery
- On-Premise Mode of Delivery
- Cloud -Based Mode of Delivery
- Healthcare Providers
- Healthcare Payers
- Other End-Users
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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