Patient Engagement Platforms Market Growth & Trends [2031]
Patient Engagement Platforms Market Growth & Trends [2031]
Segments - Patient Engagement Platforms Market by Delivery Type (On-premise and Web & Cloud-based), Component (Services and Software), End-user (Payers, Providers, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5099
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| 175 Pages
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Report Description
The patient engagement platforms market size was valued at about USD 17.5 Bn in 2022 and is anticipated to reach USD 40.9 Bn by 2031, expanding at a CAGR of 9.9% during the forecast period, 2023-2031. Rise in the use of smartphones and fast data access coupled with the growing stress on public healthcare systems fuels the market.
Patient engagement platforms (PEP) provide a medium for patient interaction with healthcare service providers through electronic mediums such as personal computers, mobile devices, or tablets. The usage of easy-to-download apps and wearable healthcare devices is rapidly increasing the interaction of patients with mHealth apps. Patient engagement platforms offer patients the comfort of self-service and access to medical care through interactions with healthcare experts. It aids in improving patient satisfaction, which in turn, has a positive bearing on provider reimbursement.
Patients engage through multiple touchpoints in a treatment journey through healthcare follow-ups and preventive health checkups. Healthcare facilities and medical practitioners benefit from a reduction in the loss of consultation appointments. Real-time communication, which is interactive, answers patient queries around the clock generates positive patient engagement reviews.
Front-end office efficiency of healthcare facilities is improved through automated appointments and corresponding reminders. Laboratory test results are automated through PEP providing the patients with real-time tracking of reports. Data duplication is averted through interaction engagement integrated into electronic medical record systems of healthcare facilities.
The market report finds that the COVID-19 pandemic fueled the patient engagement platforms market due to the imposition of lockdowns by governments that led to an increase in virtual consultations and remote home monitoring. The need for virtual communication between patients and healthcare service providers increased due to movement curbs, which surged the demand for the development of patient engagement platforms.
Patient Engagement Platforms Market Dynamics
Drivers
Increasing adoption of information technology solutions in healthcare is a key factor propelling the market. Easy access to virtual healthcare consultations, rise in the geriatric population, and a growing trend of medical tourism are expected to fuel the patient engagement platforms market. Rising adoption of technology and solutions for monitoring through mHealth and advanced networking are expected to boost the market.
Restraints
High upfront costs in the deployment of information technology infrastructure and its integration into existing healthcare systems are likely to hamper the market.
Opportunities
Growing government initiatives across the globe to support the inclusion of healthcare information technology (HCIT) in healthcare systems are expected to expand the market. Advancements in technology for modernizing existing healthcare facilities, especially in emerging countries in Asia such as China and India are expected to boost the market.
Scope of Patient Engagement Platforms Market Report
The report on the global patient engagement platforms market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Patient Engagement Platforms Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016 – 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Delivery Type (On-premise and Web & Cloud-based), Component (Services and Software), and End-user (Payers, Providers, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
IBM Corporation; Vivify Health; MCKESSON CORPORATION; Allscripts Healthcare, LLC; Solutionreach, Inc.; IQVIA; Wolters Kluwer N.V.; Greenway Health, LLC; CureMD Healthcare; Patient point LLC; Nuance Communications, Inc.; Orion Health; MEDHOST; Lincor; Klara Technologies, Inc.; GetWellNetwork, Inc.; Force Therapeutics LLC; Quil; Medecision; AV Thomas Produce; athenahealth, Inc.; Cerner Corporation; and Mytonomy |
Patient Engagement Platforms Market Segment Insights
On the basis of delivery type, the market is bifurcated into on-premise and web & cloud-based. The web & cloud-based segment is expected to expand at a significant pace during the projection period, owing to the ease of accessibility and real-time tracking of patient healthcare data offerings of web & cloud-based patient engagement platforms. Secured data backup of healthcare records of patients, is likely to boost the segment during the forecast period.
The on-premise segment is anticipated to hold a key share of the market due to the instant retrieval of data possible through on-premise-based patient engagement solution platforms. Access to health data is restricted for use and analysis within the premise of healthcare service providers that ensure total protection and confidentiality, which is expected to propel the segment.
Based on component, the patient engagement platforms market is segregated into services and software. The software segment is expected to expand at a significant pace during the projection period, owing to the ease of use in installation and data retrieval through the embedding of patient relationship management software in healthcare systems. Healthcare systems, providers, and hospitals make use of patient engagement platforms for driving patient care quality and elevating patient satisfaction, which is expected to boost the segment during the forecast period.
The services segment is expected to hold a key share of the market owing to the optimization of engagement solutions to impart maximum health benefits to the patient. Patient care and training, electronic health records EHR data classification, and support are some of the widely used services, which are likely to propel the segment.
On the basis of end-user, the market is divided into payers, providers, and others. The providers segment is projected to hold high revenue shares in the market, owing to the high patient preferences for specialist and general health concerns. Point-of-care medical data sharing and mobility make the providers adopt patient engagement platforms extensively, which is expected to fuel the market during the forecast period.
The payers segment is anticipated to gain significant revenue shares owing to the increasing adoption of patient engagement platforms for providing focused patient care and value-based patient facilities. Growing interactions and staying connected with the patients during the course of the treatment are likely to boost the market in the come years.
In terms of region, the global patient engagement platforms market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing to the growing investments by information technology companies in the development of patient engagement software. Increased backup and encouragement by the government for boosting investments in healthcare are expected to bolster the market in North America.
The market in Asia Pacific is projected to grow at a rapid pace owing to a large patient base with improved healthcare infrastructure, growing use of smartphone devices and the internet, and the improvement of healthcare infrastructure and care quality. The economic strengthening of key countries in the Asia Pacific such as India and Japan has supported in the development of the patient engagement platforms market in the region.
Segments
The global patient engagement platforms market has been segmented on the basis of
Delivery Type
- Web & Cloud-based
- On-premise
Component
- Services
- Software
End-user
- Payers
- Providers
- Others
Key Players
- IBM Corporation
- Vivify Health
- MCKESSON CORPORATION
- Allscripts Healthcare, LLC
- Solutionreach, Inc.
- IQVIA
- Wolters Kluwer N.V.
- Greenway Health, LLC
- CureMD Healthcare
- Patient point LLC
- Nuance Communications, Inc.
- Orion Health
- MEDHOST
- Lincor
- Klara Technologies, Inc.
- GetWellNetwork, Inc.
- Force Therapeutics LLC
- Quil
- Medecision
- AV Thomas Produce
- athenahealth, Inc.
- Cerner Corporation
- Mytonomy
Competitive Landscape
Players in the patient engagement platforms market include IBM Corporation; Vivify Health; MCKESSON CORPORATION; Allscripts Healthcare, LLC; Solutionreach, Inc.; IQVIA; Wolters Kluwer N.V.; Greenway Health, LLC; CureMD Healthcare; Patient point LLC; Nuance Communications, Inc.; Orion Health; MEDHOST; Lincor; Klara Technologies, Inc.; GetWellNetwork, Inc.; Force Therapeutics LLC; Quil; Medecision; AV Thomas Produce; athenahealth, Inc.; Cerner Corporation; and Mytonomy.
These companies adopt strategies including creating lead buckets, influencer marketing testing, collaborations, mergers, partnerships, social media engagements, acquisitions, and product launches to boost their market share. The competitive landscape part of the report covers key insights into growth strategies adopted by major market players.
- In Januay 2022, IBM and Francisco Partners announced an acquisition agreement for acquiring healthcare assets as part of the Watson Health business under the brand Francisco Partners. The acquired assets include extensive data sets such as imaging software, health insights, clinical development, market scans, and social program management.
- In May 2020, Microsoft launched Microsoft Cloud for Healthcare, a first-of-its-kind sector-specific cloud. The developed platform is aimed at advancing patient association and engagement with healthcare teams through telehealth and health data analytics.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Patient Engagement Platforms Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Patient Engagement Platforms Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Patient Engagement Platforms Market - Supply Chain
4.5. Global Patient Engagement Platforms Market Forecast
4.5.1. Patient Engagement Platforms Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Patient Engagement Platforms Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Patient Engagement Platforms Market Absolute $ Opportunity
5. Global Patient Engagement Platforms Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Patient Engagement Platforms Market Size and Volume Forecast by End Users
5.3.1. Payers
5.3.2. Providers
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Patient Engagement Platforms Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Patient Engagement Platforms Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Patient Engagement Platforms Demand Share Forecast, 2019-2026
7. North America Patient Engagement Platforms Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Patient Engagement Platforms Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Patient Engagement Platforms Market Size and Volume Forecast by End Users
7.4.1. Payers
7.4.2. Providers
7.4.3. Others
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Patient Engagement Platforms Demand Share Forecast, 2019-2026
8. Latin America Patient Engagement Platforms Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Patient Engagement Platforms Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Patient Engagement Platforms Market Size and Volume Forecast by End Users
8.4.1. Payers
8.4.2. Providers
8.4.3. Others
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Patient Engagement Platforms Demand Share Forecast, 2019-2026
9. Europe Patient Engagement Platforms Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Patient Engagement Platforms Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Patient Engagement Platforms Market Size and Volume Forecast by End Users
9.4.1. Payers
9.4.2. Providers
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Patient Engagement Platforms Demand Share Forecast, 2019-2026
10. Asia Pacific Patient Engagement Platforms Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Patient Engagement Platforms Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Patient Engagement Platforms Market Size and Volume Forecast by End Users
10.4.1. Payers
10.4.2. Providers
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Patient Engagement Platforms Demand Share Forecast, 2019-2026
11. Middle East & Africa Patient Engagement Platforms Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Patient Engagement Platforms Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Patient Engagement Platforms Market Size and Volume Forecast by End Users
11.4.1. Payers
11.4.2. Providers
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Patient Engagement Platforms Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Patient Engagement Platforms Market: Market Share Analysis
12.2. Patient Engagement Platforms Distributors and Customers
12.3. Patient Engagement Platforms Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. IBM Corporation
12.4.2. Vivify Health
12.4.3. MCKESSON CORPORATION
12.4.4. Allscripts Healthcare, LLC
12.4.5. Solutionreach, Inc.
12.4.6. IQVIA
12.4.7. Wolters Kluwer N.V.
12.4.8. Greenway Health, LLC
12.4.9. CureMD Healthcare
12.4.10. Patient point LLC
12.4.11. Nuance Communications, Inc.
12.4.12. Orion Health
12.4.13. MEDHOST
12.4.14. Lincor
12.4.15. Klara Technologies, Inc.
12.4.16. GetWellNetwork, Inc.
12.4.17. Force Therapeutics LLC
12.4.18. Quil
12.4.19. Medecision
12.4.20. AV Thomas Produce
12.4.21. athenahealth, Inc.
12.4.22. Cerner Corporation
12.4.23. Mytonomy
Methodology
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