CHICAGO, Oct. 10, 2022 /PRNewswire/ -- Population Health Management (PHM) Market is projected to grow from USD 27.8 billion in 2022 to USD 53.3 billion by 2027, at a CAGR of 13.9% from 2022 to 2027, according to a new report by . The Growth in this market is driven by the opportunities offered by the emerging markets in healthcare. However, lack of data management, and interoperability issues are expected to challenge the growth of this market to a certain extent.
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The software segment accounted for the largest share in the population health management market, by component
The population health management market, by component, is segmented into software & services. In 2021, the software segment accounted for the largest market share. Factors such as the technological advancements in IT solutions and big data analytics, the growth of cloud computing, and the increasing penetration of the Internet across the globe are driving the growth of the software segment.
By mode of deployment, the cloud-based segment registered the highest growth in the population health management market, in 2021.
The cloud-based segment is projected to register the highest growth in the market. The large share of the segment is attributed to the advantages offered by cloud-based solutions such as, share and integrate information from disparate locations or systems in real-time and in the generation of database registries, help curtail costs incurred in the purchase of hardware and the licensing of software.
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North America dominated the population health management market in 2021
North America accounted for the largest share of the market in 2021, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the stringent government regulations supporting the use of EHRs, the need for reducing healthcare costs, need for value-based care, as well as the presence of a large number of healthcare IT companies, such as Cerner Corporation (US), i2i Population Health (US), Health Catalyst (US), Optum (US), Conifer Health Solutions (US), and Epic Systems Corporation (US).
Cerner Corporation (US), Epic Systems Corporation (US), Koninklijke Philips (Netherlands), i2i Population Health (US), Health Catalyst (US), Optum (US), Enli Health Intelligence (US), eClinicalWorks (US), Allscripts Healthcare Solutions (US), IBM Corporation (US), HealthEC LLC (US), Medecision (US), Arcadia (US), athenahealth (US), Cotiviti (US), NextGen Healthcare, Inc. (US), Conifer Health Solutions (US), SPH Analytics (US), Lightbeam Health Solutions (US), Innovaccer (US) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the population health management market.
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