Population Health Management Market by 2026 - Global Trends, Share Analysis, Leading Players, Business Opportunities

The population health management market is projected to reach USD 46.7 billion by 2026, growing at a CAGR of 13.4% during the forecast period.

Need to curtail escalating healthcare costs;

The overall cost of healthcare delivery has grown significantly over the past few decades. Factors such as increasing health insurance premiums, the growing demand for quality healthcare services, the rising number of elderly people, and the growing incidence of chronic disorders drive the demand for healthcare services across the globe. Other factors contributing to the high expenditure on healthcare services are patient readmissions, medical errors, and administration costs.

- According to the UN Population Division, the global aging population is expected to increase from 880 million in 2011 to 2 billion by 2050, representing 22% of the world's population. If left unchecked, healthcare spending will increase by 25% by 2030, largely because of the aging population.

- Currently, the US is facing major challenges in countering the rising healthcare costs. Healthcare accounted for ~17.7% of the US GDP in 2019; this figure is estimated to reach 26.0% by 2035 (the highest across the globe).

- Additionally, according to the CMS and National Health Statistics Group, in 2019, the per capita healthcare expenditure in the US was USD 11,582. According to OECD projections, public expenditure on health and long-term care in OECD countries is set to increase from around 6% of the GDP currently to almost 9% of the GDP by 2030, and as much as 14% by 2060.

Governments and healthcare systems across the globe are focusing on controlling the rising healthcare costs with the effective utilization of PHM solutions. The successful adoption and implementation of these solutions are expected to save billions of dollars for healthcare systems worldwide. The US Department of Health and Human Services estimates that the widespread adoption of healthcare IT solutions will result in annual savings of USD 80-100 billion by automating care delivery systems and another USD 100 billion by reducing medical errors and wastages across the healthcare system.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263411936&utm_source=openpr&utm_medium=referral

The Software segment accounted for the largest market share in 2020.

On the basis of component, the PHM market has been segmented into software and services. In 2020, the software segment accounted for the largest share of the market. It is projected to reach USD 34.1 billion by 2026 from USD 17.7 billion in 2021, at a CAGR of 14.0%. The dominance of this segment can be attributed to the increased adoption of software solutions by payers and providers to reduce readmissions, increase cost-effectiveness, improve operational efficiency, enhance patient engagement, and aid data integration and analysis.

The On Premise segment accounted for the largest market share in 2020.

Population health management solutions reach end users through the on-premise and/or cloud-based modes of delivery. The on-premise solutions segment accounted for the larger market share of 63.9% in 2020. The advantages offered by the on-premise mode of delivery, such as customization of solutions, reduction in the risk of data breaches, and the ability to reuse existing servers and storage hardware are supporting its increased adoption in the population health management market.

The Healthcare Providers segment accounted for the largest market share in 2020.

On the basis of end user, the PHM market is segmented into healthcare providers, healthcare payers, and other end users. In 2020, the healthcare providers segment accounted for the largest share of 67.0% of the population health management market. The large share of this segment is attributed to the implementation of the Affordable Care Act and Hospital Readmissions Reduction Program (aimed at lowering healthcare costs by using novel population health management solutions) in the US, as well as the high demand for these solutions among healthcare providers across regions.

Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=263411936&utm_source=openpr&utm_medium=referral

North America was the largest regional market for PHM market in 2020
North America accounted for the largest share of 75.1% of the global population health management market in 2020. Factors such as growing federal healthcare mandates to curb the rising healthcare costs, increasing regulatory requirements, growing adoption of EHRs, and rising government initiatives focusing on personalized medicine and value-based reimbursements are expected to drive market growth in North America.

The Asia Pacific market, comprising India, China, Japan, and the Rest of Asia Pacific, offers high-growth opportunities for market players. This regional segment is estimated to register the highest CAGR of 19.1% during the forecast period. The growth of the Asia Pacific PHM market is driven by the rising medical tourism, the implementation of new ICT guidelines in Japan, investments and reforms to modernize China's healthcare infrastructure, the rapidly growing healthcare industry in India, and the implementation of IT programs in Australia and New Zealand. In addition, government initiatives for the adoption of HCIT, the growing geriatric population, rising prevalence of chronic diseases, increasing healthcare expenditure, and the rising purchasing power of consumers are also expected to support market growth in this region.

Key Market Players;

Prominent players in the population health management market include Cerner Corporation (US), Epic Systems Corporation (US), Koninklijke Philips (Netherlands), i2i Population Health (US), Health Catalyst (US), Optum (US), Enli Health Intelligence (US), eClinicalWorks (US), Orion Health (New Zealand), Allscripts Healthcare Solutions (US), IBM Corporation (US), HealthEC LLC (US), Medecision (US), Arcadia (US), athenahealth (US), Cotiviti (US), NextGen Healthcare, Inc. (US), Conifer Health Solutions (US), SPH Analytics (US), Lightbeam Health Solutions (US), Innovaccer (US), Citra Health Solutions (US), Evolent Health, Inc. (US), Lumeris (US), and Forward Health Group (US). These companies adopted strategies such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their market presence in the PHM market.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=263411936&utm_source=openpr&utm_medium=referral

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.