Population Health Management Market To Generate Revenue Worth $101.89 Billion by 2030

The global population health management market size is projected to generate $101.89 billion revenue by 2030, advancing at a CAGR of 14.9% during 2021–2030. This will be on account of the growing geriatric population, the increasing prevalence of chronic diseases, and the surging investments by healthcare information technology prominent players for the development of new and advanced medical solutions.

In addition, the increasing compliance for personalized medicine-based analytics is expected to offer lucrative growth opportunities to the market. The advent of personalized medicine has led to a precise, better, and predictable healthcare system, which can be customized for an individual patient, thus leading to better outcomes and reduced costs. With the rising understanding of genes and enhanced analytics capabilities, providers are capable of understanding drug responses, impact of pathogens, and possible well-being outcomes. This has led to highly accurate diagnoses, better disease prevention, personalized and safe drug prescriptions, and better outcomes in several medical conditions and diseases.

The increasing demand for personalized medicines leads to high compliance for personalized medicine-based analytics. Also, population health management (PHM) plays a vital role in the development of personalized medicines. It is important to understand the care gaps and health records of population groups to develop these medicines. Therefore, the surging compliance for personalized medicine-based analytics is creating ample growth opportunities for industry players.

Cloud-Based Category Dominates the Industry

The cloud-based category is expected to register the highest CAGR, of approximately 15%, during the forecast period. This can be ascribed to several benefits offered by cloud-based PHM solutions, such as the low licensing as well as startup outlays, and their wide accessibility. In addition, this delivery mode offers low maintenance and infrastructure costs, enhanced productivity levels, and quick as well as smooth implementation.

North America Leads the Market

North America held the largest population health management market revenue share, of more than 45%, in 2021. This is due to the presence of prominent players, the increasing number of hospitals, and favorable regulatory scenarios, in the region. In addition, various other factors such as high pressure on healthcare systems to cut costs, increasing adoption of big data and cloud computing, and ongoing government reforms are burgeoning the market expansion in the region.

Furthermore, the rising prevalence of chronic diseases and the surging government initiatives in the region are leading to high demand for effective PHM solutions. For instance, the U.S. government enforced the Affordable Care Act, to support the implementation of healthcare IT in the country, thereby helping in the prevention of chronic diseases. The Act will accelerate the growth of the market and provide opportunities for PHM service providers to collect and maintain patient data.

The major players operating in the population health management market are McKesson Corporation, Cerner Corporation, Wellcentive Inc., Allscripts Healthcare Solutions Inc., IBM Corporation, Optum Inc., Health Catalyst LLC, Conifer Health Solutions LLC, Koninklijke Philips N.V., and Epic Systems Corporation.