Northbrook, IL 60062 -- (SBWIRE) -- 06/02/2023 -- Population Health Management (PHM) Market in terms of revenue was estimated to be worth $27.8 billion in 2022 and is poised to reach $53.3 billion by 2027, growing at a CAGR of 13.9% from 2022 to 2027. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The current edition of the report consists of an updated market overview for each country in the geographic analysis chapter. Country-wise market size and market share have also been provided. The factors driving market growth include the need to maintain regulatory compliance, the rising need to curtail healthcare costs, and the growing demand for patient-centric healthcare. However, the dearth of skilled IT professionals and security concerns are challenging the growth of this market to a certain extent.

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Browse in-depth TOC on "Population Health Management (PHM) Market"

108 – Tables
49 – Figures
205 – Pages

Key Market Players:

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), 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) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the population health management market.

Driver: rising geriatric population and subsequent growth in the burden of chronic diseases

The rising geriatric population and subsequent growth in disease burden are expected to impact the healthcare systems in various countries significantly. The impact of the increasing geriatric population is even more pronounced given the growing pressure on government budgets, the decline in the number of health personnel in various regions, and the higher incidence of chronic diseases. Some of the important statistics in this regard have been mentioned below:

- The number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion by 2050, with most of the increase occurring in developing countries (source: WHO).

- In the US, the number of people aged over 65 is expected to double between 2005 and 2030 (source: National Institute on Aging, Maryland, US).

- According to the National Council on Aging, approximately 92% of older adults have at least one chronic disease, and 77% have at least two. Four chronic diseases heart disease, cancer, stroke, and diabetes cause almost two-thirds of all deaths each year in the US.

The software segment accounted for the largest share in the population health management market, by component

The population health management market, by component, is segmented into software & services. In 2021, the software segment accounted for the largest market share. Factors such as the technological advancements in IT solutions and big data analytics, the growth of cloud computing, and the increasing penetration of the Internet across the globe are driving the growth of the software segment.

By mode of deployment, the cloud-based segment registered the highest growth in the population health management market, in 2021.

The cloud-based segment is projected to register the highest growth in the market. The large share of the segment is attributed to the advantages offered by cloud-based solutions such as, share and integrate information from disparate locations or systems in real-time and in the generation of database registries, help curtail costs incurred in the purchase of hardware and the licensing of software.

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North America dominated the population health management market in 2021

North America accounted for the largest share of the market in 2021, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the stringent government regulations supporting the use of EHRs, the need for reducing healthcare costs, need for value-based care, as well as the presence of a large number of healthcare IT companies, such as Cerner Corporation (US), i2i Population Health (US), Health Catalyst (US), Optum (US), Conifer Health Solutions (US), and Epic Systems Corporation (US).

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