U.K. Population Health Management Market Outlook

the united kingdom represents one of the biggest healthcare markets in the world, making it a lucrative opportunity for market entrants and existing vendors. the uk is projected to be the second largest healthcare market in europe after germany with an estimated market size of $231.8 billion in 2018 and a projected growth rate of 6.7% from 2019-2023. population health management (phm) is a key driver in this growth. phm is about improving the health of a population rather than individuals or groups of individuals, often looking at wider societal factors such as geography, culture, and upbringing. it is associated with reducing chronic health conditions, costs, and mortality rates, while improving the overall health of the population. the uk government has seen the value of phm and introduced the nhs long term plan in 2019. this plan sets out theextensive efforts to improve health outcomes for the population. it includes initiatives such as preventive care services, primary care coordination, and early interventions. by addressing health issues earlier, this is expected to reduce the pressure on secondary care systems. the plan is assured to create more opportunities for phm and further investment in the market. as a result, phm technologies are being adopted rapidly in the uk to support population health. such technologies include electronic health records (ehrs) and data exchange, health analytics such as machine learning (ml) and natural language processing (nlp) systems, collaborative care intervention models, and predictive algorithms to identify risk. as digitalisation increases in the healthcare sector, more efficient population health management solutions are likely to be developed and adopted. in fact, the global phm market is projected to reach a value of $43.1 billion by 2023, according to fmi. overall, the uk market for phm is set to grow significantly over the coming years, with some experts predicting that it will become the fourth largest market in europe by 2032 with a cagr of 7.5% from 2018-2032. as the population health management industry continues to evolve, more countries and regions are likely to adopt the technology, creating new opportunities.