Population Health Management Market Size, Share, Growth Analysis, By Component Outlook(Hardware, Software, Service, Others), By Solution(Data Integration & Management, Analytics, Others), By Delivery Mode(On -Premise, Cloud), By Region - Industry Forecast 2024-2031

Drivers

Ensuing Increase in Burden of Chronic Illnesses:

• Numerous nations' healthcare systems are anticipated to be greatly impacted by the ageing population and the ensuing rise in the burden of disease. With mounting pressure on government funds, dwindling health workers across different regions, and rising rates of chronic illnesses, the effects of the ageing population are magnified even further.

Heightened Awareness of Value-Based Healthcare:

• Through the collection and use of results-oriented data, value-based medicine is changing healthcare. Healthcare organizations can gain a competitive edge by using business intelligence (BI) to not only identify the data they truly need, but also to analyze, assess, and exploit that data to achieve a comprehensive understanding of costs versus benefits. Examining each transaction from the perspectives of value, utility, and results also makes it possible for all operations to be transparent.

Restraints

Regulatory and Compliance Complexities:

• It’s challenging for PHM providers to navigate the complex web of national and regional health care regulations. As for instance, different nations have different laws such as GDPR in Europe or HIPAA in America. The process requires much commitment and leads to postponed introduction of these solutions especially within global healthcare systems.

Resistance to Change Among Healthcare Providers:

• The opposition to PHM-supported value-based care adoption in healthcare often comes from the healthcare practitioners who used to set up practices. The doubt on whether an organization will gain from it back, fear of workflow disruption or lack of knowledge on new technology could be the reasons as to why this opposition hampers wider adoption of PHM systems.