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Population Health Management (PHM) Solutions Market Worth $75.97 Billion by 2030
According to a new market research report titled, ‘Population Health Management (PHM) Solutions Market by Component (Software, Services), Mode of Delivery (On Premise, Cloud and Web), End User (Healthcare Providers, Payers [Private, Public], Employer Groups) - Global Forecast to 2030,’ published by Meticulous Research®, the population health management (PHM) solutions market is projected to reach $75.97 billion by 2030, at a CAGR of 10.9% from 2023 to 2030.The healthcare industry is rapidly shifting from volume-based care (fee-for-service) to a value-based reimbursement structure (fee-for-value) with a population health approach. This approach is patient-centric and uses data from across the healthcare continuum to improve the patient experience and the health of populations and reduce the cost of care. Effective population health management (PHM) has the power to transform healthcare.
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The growth of this market is driven by the increasing burden of chronic diseases coupled with the geriatric population, rising adoption of healthcare IT solutions, government focus on preventive healthcare, growing focus on building disease registries, and increasing healthcare expenses worldwide. In addition, untapped opportunities in emerging economies and the rising focus on value-based care are offering opportunities for market growth. However, patient data privacy and confidentiality issues and lack of interoperability are hindering the growth of this market to some extent.
The population health management (PHM) solutions market is segmented by Component (Software, Services), Mode of Delivery (On-premise, Cloud-based and Web-based), End User (Healthcare Providers, Healthcare Payers [Private, Public], and Other End Users), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Based on component, in 2023, the software segment is expected to account for the largest share of the population health management (PHM) solutions market. The PHM software allows healthcare providers to provide personalized treatments, better decision making, and improved clinical outcomes at lower costs. Further, a high rate of patient engagement in clinical care management allows for greater patient satisfaction.
Based on mode of delivery, the cloud-based and web-based segment is projected to register the highest CAGR over the forecast period. The growth of this segment is attributed to the rising demand for cloud and web-based PHM solutions due to their cost-effectiveness, enhanced interoperability, and increased reliability and accessibility.
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Based on end user, in 2023, the healthcare providers segment is expected to account for the largest share of the population health management (PHM) solutions market. Healthcare providers include hospitals & clinics, nursing homes, ad medical practitioners. With the help of PHM solutions, providers can create specific care plans for their patients and understand the health trends of the patient population. PHM solutions also help identify and anticipate patients at risk of developing diseases. Furthermore, the high adoption of digital solutions among the providers due to the availability of funding also supports the large market share of this segment.
Based on geography, in 2023, North America is expected to account for the largest share of the population health management (PHM) solutions market. The presence of several leading market players and easy availability of PHM solutions, initiatives supporting e-health, and high adoption of value-based care approaches in North America are the factors supporting the large share of this market.
Some of the key players operating in the population health management (PHM) solutions market are Allscripts Healthcare, LLC (U.S.), Oracle Corporation (U.S.), Deloitte Tohmatsu LLC (U.K.), Epic Systems Corporation (U.S.), Conifer Health Solutions, LLC. (U.S.), GE Healthcare (U.S.), The International Business Machines Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), i2i Population Health (U.S.), McKesson Corporation (U.S.), Medecision (U.S.), Health Catalyst (U.S.), and UnitedHealth Group (U.S.).
TOP 10 COMPANIES IN POPULATION HEALTH MANAGEMENT SOLUTIONS MARKET
Scope of the Report:
Population Health Management (PHM) Solutions Market, by Component
- Software
- Services
Population Health Management (PHM) Solutions Market, by Mode of Delivery
- On-premise
- Cloud-based and Web-based
Population Health Management (PHM) Solutions Market, by End User
- Healthcare Providers
- Healthcare Payers
- Private Payers
- Public Payers
- Other End Users
Population Health Management (PHM) Solutions Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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