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Global Population Health Management (PHM) Market backed by data to post 15–17% CAGR by 2029

 


The global population health management market is expected to grow at a CAGR of 15-17% in the next 5 years. The aging patient population and growing burden of chronic diseases, the need to reduce healthcare costs, the growing focus on preventive care, and the shift from fee-for-service to a value-based care model are some of the key factors driving the PHM market. 

Population health management (PHM) solutions aim at improving clinical outcomes at individual and community levels. Some of the key components include data integration & analysis, patient engagement, risk stratification, preventive care, care coordination, and outcome measurement & reporting. Population health brings agencies and organizations together in ways that are designed to improve clinical outcomes within a population or community. Several stakeholders are involved in managing population health including healthcare providers, payers, policymakers, patients, technology providers, employers, community organizations, and public health officials, each playing a crucial role in ensuring the success of the program.

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The growing burden of chronic diseases to propel PHM market growth

Chronic diseases are expected to create an increased burden globally, with conditions such as cardiovascular disease, cancer, diabetes, and respiratory disease causing 75% of deaths in 2010 and 79% in 2020. By 2030, this percentage could grow to as much as 84%. Chronic diseases account for most illnesses, disability, and death in the US and are the leading drivers of healthcare costs. As per data from the CDC, chronic and mental health conditions account for about 90% of the nation’s $4.5 trillion annual healthcare expenditure. The healthcare stakeholders in the US and across regions are increasingly recognizing that managing chronic disease effectively is not only one of the best ways to improve clinical outcomes and quality of life across communities, but it is also essential for reducing costs at the individual and community levels. This will lead to further adoption of PHM solutions in the coming years.

Rising focus on preventive healthcare to further drive the market growth

Preventive care stresses on early detection of health issues, which allows for timely intervention. Healthcare organizations are increasingly recognizing the importance of preventive care to reduce unnecessary hospitalizations and prevent serious diseases and medical problems before they can become major. For instance, Healthy People 2030, led by the Office of Disease Prevention and Health Promotion (ODPHP) includes data-driven objectives that can improve health and well-being at the national level. It shows how improving preventative care improves health across a wide range of populations. PHM solutions use data analytics to identify at-risk populations and implement preventive measures, reducing the incidence of chronic diseases among communities. Thus, with the growing focus on preventive care and the ability of PHM solutions to help achieve this goal, demand for PHM software and services is anticipated to grow rapidly.

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Competitive Landscape Analysis

The global PHM market is marked by the presence of established, innovative, and emerging market players such as Oracle Corporation, Optum, Conifer Health Solutions, Koninklijke Philips N.V., Allscripts Healthcare, Epic Systems Corporation, IBM, i2i Population Health, Health Catalyst, McKesson Corporation; among others. Some of the key strategies adopted by market players include product innovation and development, and strategic partnerships and collaborations.

 About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
 Associate, Medi-Tech Insights
 +32 498 86 80 79
 info@meditechinsights.com 

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