Increasing incidences of chronic diseases, growth of big data analytics in healthcare sector, and government initiatives to improve health management are some key factors expected to drive market growth
According to Emergen Research, the global population health management solutions market size was USD 21.63 billion in 2019 and is expected to reach USD 48.64 Billion in 2027 and register a revenue CAGR of 11.3% during the forecast period, 2020-2027.
Market Dynamics:
Population health management refers to analysis of patient data to improve health and financial outcomes. The solutions drive meaningful insights across all departments with the help of sophisticated population health and business intelligence (BI) tools to reduce per capita cost, enhance patient experience, avoid miscommunication during services, and improve population health. It helps to minimize care gaps by offering ample amenities to physicians such as laboratory data management, hospital bills and so on. According to Nextgen healthcare, 80 per cent of medical errors (serious) involve miscommunication during care transactions. This has been boosting demand for population health management solutions and is expected to drive market revenue growth during the forecast period.
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In addition, growing geriatric population, increasing focus on personalized medicine, and implementation of IT solutions (such as artificial intelligence, machine learning) in healthcare sector are other factors expected to drive market revenue growth during the forecast period. Further, growing popularity of value-based payment and favorable reimbursement medical policies are other factors expected to boost market growth. However, growing number of data breaches, confidentiality issues, complexity in user interface, lack of skilled workers are factors that can hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Software Segment Revenue to Expand at a Rapid CAGR:
Software segment is expected to register a rapid revenue CAGR over the forecast period due to increasing focus on patient engagement, technological developments in software (such as automated billing, patient pre-registration), easier access to healthcare data that helps in faster decision making, cost savings, streamlined prescriptions and improve patient satisfaction.
Healthcare Providers Segment to Register Significant Revenue Growth:
Healthcare providers segment is expected to register significant revenue growth over the forecast period owing to improving healthcare infrastructure globally (especially during COVID-19 pandemic), and rising focus on better patient outcomes. Healthcare providers includes ambulatory care centers, hospitals, integrated delivery networks, diagnostic centers and home healthcare agencies, that promote health, identify needs of the patients, and better allocation of healthcare resources.
Asia Pacific to Account for Largest Revenue Share:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributed to increasing investments in IT in healthcare sector, government initiatives to increase number of specialty hospitals, and favorable government policies on national health. In addition, growing medical tourism and rapid growth of digitalization in the healthcare system, in emerging economies such as China, Malaysia, India and Indonesia, drive revenue growth of the APAC market.
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Major Companies in the Market Include:
- Epic Systems Corporation
- I2I Population Health
- Cerner Corporation
- Koninklijke Philips
- Allscripts Healthcare Solutions
- Enli Health Intelligence
- IBM Corporation
- Optum
- Health Catalyst
- Healthec, LLC
For the purpose of this report, Emergen Research has segmented the population health management solutions market on the basis of component, mode of deployment, end-user, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
- Software
- Services
- Post-Sale and Maintenance Services
- Consulting Services
- Training and Education Services
- Implementation Services
Mode of Deployment Outlook (Revenue, USD Billion; 2017-2027)
- On-Premises
- Cloud-based
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Healthcare Providers
- Ambulatory Care Centers
- Hospitals, Physician Groups, and Integrated Delivery Networks
- Diagnostic and Imaging Centers
- Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
- Other Healthcare Providers
- Healthcare Payers
- Public Payers
- Private Payers
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Turkey
- Rest of MEA
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