It is driven by the widespread adoption of digital technologies in healthcare.
According to a report by Towards Healthcare, the global population health management (PHM) market will be worth US$85.59b in 2024 and is expected to grow to US$533.83b by 2033.
Focused on improving patient care and reducing costs, PHM solutions are increasingly used by governments and healthcare organizations to manage and prevent communicable and non-communicable diseases.
The report quoted the World Health Organization as saying that non-communicable diseases kill 41 million people every year, accounting for 74% of global deaths.
The growth of this market is driven by the widespread adoption of digital technologies in the healthcare sector.
According to the National Institutes of Health, as of 2023, more than 80% of healthcare providers worldwide have integrated digital tools. Government investments, such as the US Department of Health and Human Services’ $400 million in 2022 to support healthcare IT systems, are further accelerating this trend.
The report adds that PHM solutions help automate workflows, improve coordination and deliver better clinical outcomes. The World Bank’s 2022 report stated that PHM systems play a key role in managing COVID-19 by reducing hospital pressure through remote patient monitoring.
According to the report, the European Public Health Association also highlighted that countries that adopted PHM strategies experienced a 15% improvement in rural health care outcomes.
Meanwhile, the Asia-Pacific market is expected to grow rapidly, driven by government measures and focus on digitalization of healthcare.
In 2022, the World Bank approved a $1 billion loan for the Pradhan Mantri-Ayushman Bharat Health Infrastructure Project in India to support healthcare advancements in the region.
