The population health management market will touch USD 101.89 billion, growing at a 14.9% CAGR, by 2030.The growth of this industry can be mainly because of the rapid advancement in the medical sector from a structure based on paper to a digital structure, as a result, boosting the need for healthcare IT services. Moreover, stakeholders in the sector of medical are moving towards value-based payment modes from free-for-services, because of the high requirement for services involving value-based care delivery. In addition, over the past few years, there has been a massive need for efficient illness management solutions, which will further boost the progression of this industry. In recent years, the software category, based on component, accounted for a larger share in the industry. This can be because of the growing acceptance of software solutions by users and providers to lessen readmissions, reduce expenses, and enhance operational efficiency. Additionally, this software can also enhance patient assistance & engagement in data analysis and integration, such advantages will further boost the progression of this category. Whereas, the services category will propel at a faster rate in the years to come, primarily because of the increasing fondness for in-house systems in hospitals to avoid third parties from assessing patient information. In the past few years, the on-premise category, based on delivery mode, held the largest population health management market share. This can be because of the various benefits related to it, such as reducing the chance of data breaches, the capability to reuse current storage servers & hardware, and the medical solutions customization. Whereas, the cloud-based category will propel at the highest rate in the years to come. This can be primarily attributed to the evidenced efficiency of such delivery mode in home healthcare, as well as the seamless access of data across various platforms. North America led the industry in recent years, because of the increasing federal regulations to lessen the surging cost of medical, as well as the high acceptance of electronic medical records and electronic health records in the continent. Additionally, the increasing government initiatives on precision medicines, along with their value-based compensations also help in the progression of this industry in the continent. APAC is likely to advance at the highest rate, of approximately 15%, in the years to come. This is mainly attributed to the surging medical tourism in the continent. China, India, and Japan are the major contributors to APAC, because of the surging funding to transform medical infrastructure in China, the rapid progression of the medical sector in India, and the high acceptance of new ICT rules in Japan.
SOURCE: P&S Intelligence
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