Global Population Health Management Market Research Report, Growth, Analysis and Forecast to 2024

The global population health management market was accounted at USD 15.9 billion in 2017, and is projected to reach USD 76.9 billion by 2024. The driving factor for the growth of the market includes the rise in necessity to opt for cost-effective treatment options, increasing adoption of Healthcare information technology (HCIT), and disease management programs by public and private insurance providers. The growing geriatric population and the increase in prevalence of chronic diseases requiring proper health management also drive the growth of the market.

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The industry on the basis of offering is categorized into software and services, where services are expected to witness high demand and projected to observe faster growth during the forecast period. Based on end user, the market is categorized into healthcare payers, healthcare providers, government bodies, and employer group. Healthcare providers register to hold the largest market share of more than 80% in 2017, due to the reduced healthcare management gap as a result of population health management solutions, mainly to high risk pool of patients.

Europe is the second largest market in the global population health management industry, whereas Asia-Pacific is expected to witness a significant growth at a high CAGR of 27.4% during the forecast period. The growth is driven by the rising geriatric population base and increasing prevalence of chronic diseases. The region has also witnessed increased healthcare expenditure to improve the healthcare infrastructure and government initiatives for disease management programs that will drive the region growth in the global market by 2024.

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The key players of the population health management industry are witnessing expansion of their business by acquisitions. For example, in December 2017, Koninklijke Philips N.V. announced the strategic acquisition of VitalHealth, a provider of cloud based population health management solutions. The VitalHealth acquisition is an addition to the company’s earlier acquisition of Wellcentive in 2016, and is intended to strengthen Philips’ Health Suite digital platform.

Some of the leading players of the global population health management market include McKesson Corporation, Cerner Corporation, Health Catalyst, LLC, Wellcentive, Inc., Conifer Health Solutions, LLC, Allscripts Healthcare Solutions, Inc., Verscend Technologies, Inc., UnitedHealth Group, and IBM Corporation.

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