Population Health Management Global Market Report 2024

The population health management market size has grown exponentially in recent years. It will grow from $48.34 billion in 2023 to $58.68 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth observed in the historic period can be attributed to various factors, including public health initiatives, healthcare reform efforts, a shift towards value-based care, effective chronic disease management, and the escalating costs associated with healthcare.

The population health management market size is expected to see exponential growth in the next few years. It will grow to $127.87 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The anticipated growth in the forecast period can be attributed to various factors, including the expansion of value-based care models, an increased focus on chronic disease prevention, the integration of big data and analytics in healthcare, a shift towards consumer-centric healthcare approaches, and initiatives aimed at healthcare cost containment. Major trends expected in this period encompass holistic care integration, a focus on health equity and inclusivity, community engagement and outreach initiatives, the promotion of preventive and wellness programs, and a heightened consideration of social determinants of health.

The anticipated growth of the population health management market is expected to be driven by the increasing demand for solutions that support value-based care delivery by various healthcare stakeholders. Value-based healthcare represents a framework in which healthcare providers are encouraged to prioritize the quality of services over quantity. This approach aims to reduce errors, enhance workflows and interoperability, lower costs, and improve patient satisfaction. According to the Healthcare Payment Learning and Action Networks, as reported in the APM measurement report, 40.6% of payments across public and private payers were strictly fee-for-service, while 18.1% had some connection to quality and value. The growing emphasis on solutions supporting value-based care delivery is a key driver for the population health management market.

Tthe increasing aging population is expected to contribute to the growth of the population health management market. An aging population signifies a demographic shift characterized by a rising proportion of elderly individuals within a society. Population health management plays a crucial role in addressing the healthcare needs of an aging population through proactive strategies, personalized care plans, and preventive measures aimed at enhancing overall health outcomes. For example, as of October 2022, the World Health Organization reported that globally, one in six individuals would be 60 or older by 2030, and the number of elderly people is projected to reach 2.1 billion by 2050. Therefore, the increasing aging population is a significant factor driving the growth of the population health management market.

Product innovation is a prominent trend gaining traction in the population health management market. Major companies within this sector are actively pursuing new product development initiatives to bolster their positions. An illustrative example is Verana Health, a US-based clinical database provider operating in the population health management market. In October 2021, Verana Health introduced VeraQ, a population health data engine designed to convert unfiltered, raw healthcare data into a unique and actionable real-world data asset known as Q data. This asset enables the extraction of business insights and facilitates clinical research.

Mmajor players in the population health management market are intensifying their efforts to introduce patient care management platforms, seeking a competitive advantage. Patient care management platforms are comprehensive software solutions designed to optimize healthcare delivery by providing tools for patient data management, care coordination, and treatment planning. For instance, in March 2023, Franciscan Healthcare, a US-based healthcare company, collaborated with i2i Population Health, a US-based software company, to launch i2iTracks. This quality improvement tool enhances various aspects, including quality and care management, patient satisfaction, and data analytics. i2i Population Health's platform seamlessly integrates with Electronic Health Records (EHR) systems and registries, allowing care teams to leverage actionable data for improved patient care.

In April 2021, Cerner Corporation, a US-based healthcare information technology solutions provider, acquired Kantar Health for $375 million. This acquisition aimed to combine Cerner's real-world data and technology with Kantar Health's rich life sciences expertise to accelerate innovation in life sciences research and enhance patient outcomes. Kantar Health, operating in the population health management market, is a US-based provider of data, analytics, and research to the life sciences industry.

Major companies operating in the population health management market report are McKesson Corporation, General Electric Company, Accenture PLC, IBM Corporation, Deloitte Touche Tohmatsu Limited, Optum Inc., Koninklijke Philips NV, Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare LLC, Athenahealth Inc., Evolent Health Inc., Conifer Health Solutions, Cotiviti Inc., Lumeris Inc., MEDecision Inc., The Advisory Board Company, eClinicalWorks LLC., NextGen Healthcare Inc., Health Catalyst Inc., Verscend Technologies Inc., Orion Health Group Ltd., Citra Health Solutions Inc., RedBrick Health Corporation, Lightbeam Health Solutions, Enli Health Intelligence Inc., Persivia Inc., Welltok Inc., Forward Health Group Inc., Arcadia Inc., Health EC LLC, Jvion Inc., ZeOmega Inc.

North America was the largest region in the population health management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the population health management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the population health management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

In the population health management market, the main components are software and services. Healthcare management software facilitates data sharing across IT systems, enhancing operational efficiency and promoting care delivery. Population health management solutions can be delivered through on-premises or cloud-based modes, catering to end-users such as providers, payers, and other entities.

The population health management market research report is one of a series of new reports that provides population health management market statistics, including population health management industry global market size, regional shares, competitors with a population health management market share, detailed population health management market segments, market trends and opportunities, and any further data you may need to thrive in the population health management industry. This population health management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The population health management market includes revenues earned by entities care integration, care coordination, patient engagement, data analytics and health information technology. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.