Westford, USA, July 18, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the population health management market will attain a value of $171.94 Billion by 2031, with a CAGR of 19.93% over the forecast period (2024-2031). Population health management is related to the management of health conditions of people. The market is driven by a rise in the focus on the betterment of the healthcare sector.
Moreover, a surge in the prevalence of chronic and growing aging population drives the growth of the market. Several technological initiatives have been taken in population health management such as data analytics and telehealth to assess patients in analyzing health risks and enhancing health outcomes.
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Browse in-depth TOC on "Population Health Management Market"
· Pages - 157
· Tables - 60
· Figures – 75
Population Health Management Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 40.18 Billion |
| Estimated Value by 2031 | $ 171.94 Billion |
| Growth Rate | Poised to grow at a CAGR of 19.93% |
| Forecast Period | 2024-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Mode of Delivery, End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information/Product portfolio of players |
| Key Market Drivers | Rise in the prevalence of chronic diseases, growing geriatric population |
The Software Segment Accounted for the Highest Share in the Market in 2023 due to Specialized Software Tools
Population health management adopts the use of several specialized software tools. These tools help in collecting and analyzing data and to make data-driven decisions. Moreover, these software tools are utilized by health professionals to gather information about patient health, analyze risks associated with them, and make treatment strategies as per the requirements. Software solutions are adaptable and easy to customize as per the needs to enhance the health management of people.
The Healthcare Payers Segment is Expected to Grow During the Projection Period Due to Continuous Investments
The healthcare payers’ segment is the fastest-growing segment in the population health management market. Healthcare payers, including government payers, insurance companies, and employer-sponsored health plans understand population health management benefits in managing costs. Risk-bearing entities are continuously investing in tools that highlight target populations and implement coordinated strategies. These strategies help in assessing risk and monitoring health results.
North America Dominated the Population Health Management Market in 2023 due to the Presence of a Strong Healthcare Industry
North America had been the major shareholder in the population health management market. This is due to the presence of a strong base in the healthcare industry, rise in the usage of technologies within the sector, and surge in the governmental support regarding health management. The U.S. has taken the lead of providing value-based care initiatives in healthcare IT. Moreover, North America is strengthening its position due to the availability of major players in the region.
Asia-Pacific is anticipated to experience a significant growth during the projection period. This is attributed to surge in the prevalence of chronic diseases and the adoption of digital technologies in the healthcare sector. Governments of India, China, and Japan constantly focusing on taking several initiatives to enhance the healthcare facilities within the region. Not only this, but a rise in awareness regarding healthcare concerns drives the Asia-Pacific market forward.
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Population Health Management Market Insights
Drivers:
- Rise in the prevalence of chronic diseases
- Increase in geriatric population
- Surge in awareness regarding healthcare concerns
Restraints:
- Regulatory Compliance
- Service/Product Quality
- Data Security and Reliability
Key Players Operating in the Population Health Management Market:
The following are the Top Population Health Management Companies
- Optum, Inc. (US)
- Medecision (US)
- Health Catalyst (US)
- Cerner Corporation (US)
- Cognizant Technology Solutions Corporation (US)
- Change Healthcare (US)
- Allscripts Healthcare, LLC. (US)
- Koninklijke Philips N.V. (Netherlands)
- UnitedHealth Group (US)
- NextGen Healthcare, Inc. (US)
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Key Questions Covered in the Population Health Management Market Report
- What segments are covered in the population health management market report?
- Which key players are operating within the market?
- What is the growth rate of the market during the projection period?
This report provides the following insights:
Drivers, challenges
- Analysis of key drivers (rise in elderly population, surge in the prevalence of chronic diseases), restraints (regulatory compliance, data security and reliability), opportunities (digitalization and advanced technology integration), and challenges (high costs of development) influencing the growth of the population health management market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the population health management market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the population health management market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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