Population Health Management Market to Grow by USD 22.55 Billion from 2024-2028, Driven by Rising Adoption of Healthcare IT, Report with AI Impact on Trends - Technavio

NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global population health management market  size is estimated to grow by USD 22.55 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  12.03%  during the forecast period. Rising adoption of healthcare it is driving market growth, with a trend towards rising focus on personalized medicine. However, rising cost of installation of population health management platforms  poses a challenge.Key market players include ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Arcadia Solutions LLC, athenahealth Inc., Cotiviti Inc., eClinicalWorks LLC, Health Catalyst Inc., HealthEC LLC, i2i Systems Inc., International Business Machines Corp., Koninklijke Philips N.V., Lightbeam Health Solutions, McKesson Corp., NextGen Healthcare Inc., Omnicell Inc., Oracle Corp., Press Ganey Associates LLC, Siemens AG, Tenet Healthcare Corp., ZeOmega Inc., and Innovaccer Inc..

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Key Market Trends Fueling Growth

Population Health Management (PHM) is a strategic approach that focuses on improving the health and well-being of large groups of people. This market is witnessing significant trends in Healthcare Analytics, enabling providers to identify health patterns and risks. Patient Engagement is another trend, with solutions facilitating communication and education. Care Coordination and Value-Based Care are essential for managing patient risk and reducing costs. Risk Stratification, Data Analytics, and EHR Integration help in identifying health disparities and improving health outcomes. PHM Software, Care Management Solutions, and Population Health Solutions are integral to Health System's efforts to deliver integrated care. Telehealth and Remote Patient Monitoring are key interventions for disease prevention and chronic care management. PHM Tools and Health IT Solutions enable Quality Improvement, Care Delivery, and Healthcare Cost reduction. Public Health and Patient Safety are crucial aspects of the healthcare ecosystem. PHM Programs and Healthcare Interventions aim for better patient outcomes, while Health Data Management ensures data integrity and interoperability. 

The global population health management market is witnessing a significant trend towards personalized medicine. This shift is driven by the growing availability and decreasing costs of genetic testing. With the advent of affordable genome sequencing, healthcare providers can now incorporate genetic information into patient care, leading to more precise diagnosis, prognosis, and treatment planning. This personalized approach also benefits pharmaceutical companies, enabling them to develop targeted therapies. The integration of genetics into population health management is revolutionizing healthcare and improving patient outcomes. 

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Market Challenges

• Population Health Management (PHM) is a critical aspect of modern healthcare, focusing on improving health outcomes and managing costs for large groups of patients. Challenges in PHM include Healthcare Analytics for data-driven insights, Patient Engagement for better communication, Care Coordination for seamless care delivery, and Value-Based Care for outcomes-focused payments. Risk Stratification, Risk Assessment, and Data Integration are essential for identifying high-risk patient populations. EHR Integration, Data Analytics, and Predictive Analytics help providers make informed decisions. Remote Patient Monitoring, Telehealth, and Patient-Centered Care improve access and outcomes. Health Disparities require targeted interventions, while Healthcare IT, Care Management Solutions, and Population Health Software enable efficient care delivery. Value-added services like Clinical Data, Healthcare Costs, and Managed Care require effective Health Data Management. Interoperability, Quality Improvement, and Health Management are key to successful PHM. Public Health, Care Delivery, and Clinical Decision Support are crucial for population health initiatives. PHM Tools like Health Analytics Platform, Population Health Models, and Disease Prevention strategies are essential. Patient Safety, Care Continuum, and Clinical Integration are vital components of effective care. Healthcare Organizations must invest in PHM to improve patient outcomes, reduce costs, and enhance the overall healthcare ecosystem.
• Population health management platforms are essential tools for healthcare providers and organizations to analyze health data and generate insights for improving patient outcomes. These systems help identify at-risk populations and coordinate care. However, the high installation costs, including software licensing, hardware infrastructure, customization, and continuous maintenance, pose a challenge for many healthcare organizations, particularly smaller ones with tight budgets. The significant investment required for these advanced technologies may hinder their adoption and usage.

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Segment Overview 

This population health management market report extensively covers market segmentation by

1. Component 
• 1.1 Software
• 1.2 Services
2. Deployment 
• 2.1 Cloud
• 2.2 On-premises
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Software-  The population health management market's software segment is a vibrant and progressing sector, with various software components fueling its expansion. These solutions enable healthcare organizations to effectively manage and enhance the health outcomes of diverse populations. The software offerings consist of tools for collecting, analyzing, and utilizing health data to make informed decisions. Population health management platforms gather data from multiple sources, such as electronic health records, claims data, and patient-generated data. Advanced analytics in these platforms generate valuable insights, helping providers identify at-risk populations, manage chronic conditions, and improve patient outcomes. Additionally, they streamline workflows, coordinate care, and implement preventative measures. Key players in this market include Koninklijke Philips NV, McKesson Corp., and ZeOmega Inc. These software solutions benefit not only healthcare providers but also payers and accountable care organizations by providing them with the necessary tools to manage their insured populations' health. With the increasing adoption of value-based care models worldwide, the demand for advanced population health management software, driving the growth of the global market throughout the forecast period.

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Research Analysis

The Population Health Management (PHM) market is a dynamic and growing segment of healthcare IT, focused on improving the health and well-being of large groups of people. PHM utilizes various tools and technologies to analyze clinical data, identify health risks, and implement interventions to prevent and manage chronic diseases. Key components of PHM include healthcare analytics, patient engagement, care coordination, value-based care, risk stratification, chronic disease management, health information exchange, EHR integration, data analytics, predictive analytics, remote patient monitoring, health outcomes, patient-centered care, health disparities, patient registries, clinical data, managed care, health metrics, quality improvement, health risk assessment, interoperability, public health, clinical decision support, telehealth, and disease prevention. These solutions enable providers to deliver personalized care, improve health outcomes, and reduce costs through more effective care coordination, disease management, and population health improvement initiatives.

Market Research Overview

Population Health Management (PHM) is a proactive approach to healthcare that focuses on improving the health and well-being of large groups of people, rather than just treating individual patients when they are sick. PHM utilizes various tools and technologies to analyze patient data, identify health risks, and coordinate care to prevent diseases, manage chronic conditions, and improve health outcomes. Key components of PHM include healthcare analytics, patient engagement, care coordination, value-based care, risk stratification, and data analytics. EHR integration, predictive analytics, remote patient monitoring, and health outcomes are also crucial elements. PHM encompasses healthcare IT, patient-centered care, health disparities, population health analytics, patient data, healthcare providers, care management solutions, population health solutions, health system, patient registries, population health software, healthcare services, health IT solutions, clinical data, healthcare costs, managed care, patient health records, health metrics, quality improvement, health management, data integration, health risk assessment, patient population, interoperability, healthcare ecosystem, public health, care delivery, clinical decision support, population health tools, patient care coordination, health analytics platform, healthcare data, PHM software, chronic care management, integrated care, population health initiatives, healthcare quality, health data management, patient outcomes, health informatics, care continuum, clinical integration, population health programs, healthcare interventions, patient safety, telehealth, disease prevention, patient engagement technology, and healthcare solutions. The goal of PHM is to optimize the health of a population by addressing health disparities, improving care delivery, and reducing healthcare costs through preventive measures, evidence-based interventions, and patient-centered care.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Component
• Software
• Services
• Deployment
• Cloud
• On-premises
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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