Market Overview:
Population health management solution aims to help healthcare providers to monitor the health of different patient groups and identify opportunities to improve care quality through analytics. Population health management solutions help healthcare providers to identify high-risk and high-cost patients, coordinate care across care settings, and engage patients through remote monitoring and communication tools. This facilitates better management of patient health while also optimizing healthcare costs.
The Population Health Management Solution Market is estimated to be valued at US$ 32.89 Bn in 2023 and is expected to exhibit a CAGR of 15. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising prevalence of chronic diseases such as diabetes, hypertension, cardiovascular diseases among the aged population is expected to be a major driver for population health management solution market. Population health management solutions can help monitor chronic disease patients remotely and coordinate care as needed. Additionally, growing patient population along with shortage of healthcare providers makes population health management an attractive proposition for addressing large patient pools in a cost-effective manner. Focus on value-based care, utilization of big data for improved decision making and need for affordable healthcare are some other key factors driving adoption of population health management solutions.
Porter’s Analysis
Threat of new entrants: The Population Health Management Solution market is moderately competitive with moderate barriers to entry. New companies need significant capital investment and regulatory compliance to enter this market
Bargaining power of buyers: Buyers have moderate power in this market as there are many alternatives for Population Health Management Solutions. However, switching costs make customers less price sensitive.
Bargaining power of suppliers: Suppliers have moderate power over this market. While there are many software and solution developers, the significance of intellectual property rights and importance of scale provide bargaining power to major suppliers.
Threat of new substitutes: Threat of substitutes is low as there are limited alternatives that can provide integrated Population Health Management capabilities.
Competitive rivalry: High as major players compete on basis of technological innovation, customer service and strategic partnerships.
SWOT Analysis
Strengths: Established players have strong market reputation, global presence and capabilities. Population Health Management Solutions help improve clinical and financial outcomes.
Weaknesses: High implementation and maintenance costs. Lack of integration with existing healthcare IT infrastructure of some customers.
Opportunities: Increasing focus on value-based care presents growth opportunities. Growing geriatric population fuel demand. Partnerships with payers and providers expand market reach.
Threats: Data privacy and security concerns. Resistance to change from traditional care models impacts adoption. Reimbursement policies influence purchase decisions.
Key Takeaways
The global Population Health Management Solution Market is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing focus on value-based care and need for better health outcomes. North America dominated the market in 2023, accounting for around 45% of global revenue, owing to favorable policies and digital healthcare adoption in the region. Europe is expected to grow at a high CAGR between 2023-2030 on back of heavy investments by UK and German governments in National Health Service.
Regional analysis: The North America region currently dominates the global Population Health Management Solution market and is expected to continue its dominance over the forecast period. This is attributed to growing focus on patient-centric care, widespread healthcare digitalization, and favorable regulations. Europe is poised to exhibit high growth owing to supportive reimbursement structure and initiatives in major countries promoting integrated healthcare IT adoption.
Key players operating in thePopulation Health Management Solution 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.),
