Global Population Health Management Market Size, Leading Players, Segment Analysis and Future Scope

The population health management (PHM) market is projected to display a CAGR of 23.3% in the coming years and ultimately value $48.1 billion. In simple terms, PHM involves the collection of patient information through multiple channels to identify shortcomings, gauge risks, engage patients, provide the necessary care, and monitor the ensuing outcomes. It allows healthcare providers to clinically study individuals within a particular group via data gathered through business analysis tools. This offers real-time disease trends and helps in identifying affected groups, thereby resulting in a quicker provision of the necessary care at reduced costs.

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The population health management market is being driven by the rising geriatric population across the world. The United Nations Department of Economic and Social Affairs mentioned that by 2050, the percentage of people over the age of 60 would grow to 21.1% from 11.7% in 2013. With age, the body's ability to heal wounds, circulate blood, and fight infections diminishes, which makes the elderly more susceptible to many diseases, such as cardiovascular and neurological diseases. Further, many older people sometimes require personalized treatment, in which PHM can be extremely helpful.

The population health management market is segmented by region, delivery mode, end user, and component. Based on region, the categories are Asia-Pacific, North America, Europe, and Rest of the World. Among all, the largest contribution to the market, in terms of revenue, was made by the North American region during the historical period (2012-2015). In the forecast period, the market is expected to still be led by this region, with over 80.0% share in 2022. This growth in the regional market can be attributed to the strong focus on reducing healthcare expenditure, supportive government policies, and developed healthcare infrastructure.

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The segmentation of the population health management market is also done based on component. The bifurcations of this segment are service and software; in the historical period, software was the larger of the two in terms of the revenue generated in the market. As the market for PHM is still in the developing phase, different end-users are predicted to invest in new software installations, which would further contribute to their high demand, thereby resulting in their growth during the forecast period.

Therefore, the market for population health management is projected to witness remarkable growth in the forecast period owing to the increasing menace of chronic diseases, especially among the elderly.

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