The global population health management market size was valued USD 23.8 billion in 2021 and expected reach USD 46.3 billion by 2028, at a CAGR of 12.8% growth rate over 2022 -2028. The collection and analysis of patient information from diverse information technology resources is known as population health management. Population health management aids in the monitoring of a patient's state and the segmentation of patients based on disease. It also aids in the improvement of clinical outcomes and the reduction of treatment costs. The market is predicted to develop as the incidence of chronic diseases rises, necessitating constant surveillance and care, as well as the use of healthcare IT and more government assistance.
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In the future years, the market's growth will be fueled by the increasing penetration of IT in the sector of healthcare. The market is likely to be driven by the benefits provided by population health management systems, also including remote patient monitoring, data integration, and data storage. In the next years, rising awareness of the benefits of better-personalized medicine is expected to provide considerable growth potential for market competitors. In addition to this, the growing elderly population and incidence of chronic diseases, as well as the digitalization of healthcare systems and the growing need for affordable treatment alternatives owing to rising healthcare expenses, are driving the global population health management market. The market's expansion is hampered by a scarcity of data managerial skills and qualified analysts, as well as a reluctance to accept new technology. In contrast, during the projection period, an increased focus on value-based medicine and growth potential in Asia-Pacific and Latin America and the Caribbean are likely to create multiple opportunities for market expansion. Furthermore, the rising number of people suffering from chronic diseases, which necessitate a long period of surveillance and hospitalization, as well as beneficial government policies, are helping the market's growth. Customers encounter problems related to data security and reliability, rising regulatory compliance, and handling massive amounts of healthcare data as a result of current trends in population health. In addition, one of the few issues projected to stifle market expansion is the possibility of lower service/product quality.
The global population health management market segmentation:
- By Component: Software, Services
- By Mode of Delivery: Web-based, Cloud-based, On-premise
- By End User: Healthcare Providers, Healthcare Payers, Employer Groups, Government Bodies
During the projected timeline, North America is estimated to dominate the Population Health Management Market. The developing trends in healthcare IT, big data and cloud computing, well-established health care systems, constant reforms by governments, and the increasing ill patient burden are driving the growth of the Population Health Management Market in the regions.
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There are some major players working in population health management market, which include Philips Wellcentive, Inc., Mckesson Corporation, IBM Corporation, i2i Population Health, Allscripts, Inc., Collaborative Health Systems, The Garage, Optum, Inc., Epic Corporation, Inc., Conifer Health Solutions, LLC, Verscend Technologies, Inc., Lumeris
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