New York, USA, March 02, 2023 (GLOBE NEWSWIRE) — Population Health Management Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Population Health Management Market Information By Component, Solution, Delivery Mode, End-User and Region – Forecast till 2030“, the market size was valued at USD 68.4 billion in 2021 and is projected to grow from USD 81.5 billion in 2022 to USD 278.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 19.20% during the forecast period (2022 – 2030).
Market Dynamics
A rise in the older population, a rise in the amount of money spent on healthcare per person, and a rise in the use of the Internet of Things (IoT) for healthcare are some of the major market drivers boosting the PHM industry. The global market for population health management is being driven by a number of factors, including the aging population, the burden of chronic diseases, digital health systems, and the growing desire for affordable treatment options due to rising healthcare costs. Healthcare information technology is advancing technologically, and demand for it is rising, which is driving the market’s expansion.
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Segmentation
The software sector is anticipated to develop at a higher rate than any other segment. In 2021, the market of population health management revenue was dominated by this segment.
Data Integration & Management, Analytics, and Others make up the market segmentation of population health management segmentation by solution. The analytical sector dominated market expansion in 2021 and is anticipated to experience the fastest growth during the forecast period, 2022–2030. In order to manage the data generated by this sudden rise in the number of chronic disease patients, which is predicted to accelerate the market’s growth, data analytics will be required.
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Market data for population health management has been divided into On-premise and Cloud delivery modes. The on-premise category dominated the market in 2021 and is anticipated to grow at the fastest rate from 2022 to 2030. This is due to its numerous advantages, which include a reduced risk of data breach, the opportunity to personalize medical solutions, and the ability to utilize existing servers and storage infrastructure.
Healthcare providers, healthcare payors, and governmental entities make up the three segments of the worldwide population health management market. The healthcare providers category dominated the market in 2021 and is anticipated to grow at the fastest rate from 2022 to 2030.
Population Health Management Market Regional Analysis
The market for population health management in Asia Pacific is expanding at the quickest rate. This may be influenced by the increasing medical tourism in the region. Due to the high rate of adoption of new ICT standards in Japan, rising investments to modernize China’s medical infrastructure, and the quick growth of India’s medical sector, these three countries currently hold the majority of the market share in APAC. Moreover, the India market grew the fastest in this area, while China’s population health management market had the greatest market share.
The market for population health management in Europe is anticipated to expand significantly between 2022 and 2030.
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The expansion of the home healthcare sector and increased patient knowledge of PHM are to blame for the rise in market revenue. Expanding healthcare infrastructure and increased consumer adoption of IT healthcare solutions are other factors fueling the market’s revenue growth. Moreover, the market for population health management in the UK had the biggest market share, while the market in Germany had the quickest rate of expansion.
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