The global patient engagement solutions market size was valued at USD 23.36 Billion in 2022 and is estimated to reach USD 135.79 Billion by 2031, expanding at a CAGR of around 21.6% during the forecast period, 2023 to 2031. The growth of the market is attributed to the use of electronic health records for patient-centered care and growing use of mobile health devices.
Patient engagement software is an electronic system primarily designed to connect with patients, provide educational resources, or manage the patient-provider relationship. The digital platform of the software gathers and stores all patient-related health data as well as facilitates communication between patients and healthcare providers. Consistent with a poll done by the National Health Service (NHS) in 2019, 92% percent of patients were confident in self-managing their healthcare.
Companies are focused on the development of patient-centric engagement solutions in response to the rising number of diabetes patients. As stated by the American Diabetes Association in 2020, 1.5 million new cases of diabetes were diagnosed in the United States each year.
Healthcare applications are becoming more popular and they are simple to install on cellphones. These applications may be connected to wearable devices and help users maintain their entire health, which has increased patients' reliance on mHealth apps.
Furthermore, favorable government actions encourage the use of these solutions in emerging nations such as India. In March 2019, Columbia Asia Hospitals, which bases its operations across several locations including Malaysia, India, Indonesia, and Vietnam, collaborated with MphRx to introduce a patient engagement application suite. This program aimed at improving patient involvement and clinical quality by digitally transforming healthcare services.
The COVID-19 pandemic has brought drastic effects on people's daily lives as well as the global economy with considerable pressure on the healthcare systems worldwide. Patients turned to take help using digital technology to contact healthcare practitioners and medical professionals during the crisis. The pandemic sparked new developments in patient monitoring and cloud computing.
Patient Engagement Solutions Market Trends, Drivers, Restraints, and Opportunities
- Wide prevalence of global burden of chronic illnesses and rising number of the elderly population are projected to drive the market during the forecast period.
- Effective cost analysis, operational efficiency, and accurate therapeutic results are some key factors propelling the market.
- Increasing number of smartphone users throughout and the wide adoption of mHealth by both providers and consumers are boosting the market.
- Concerns about the security of patient health data are obstructing the transfer of information across various parties in the healthcare business. This is a key hurdle that can hinder the market expansion.
- High cost of system maintenance and software updates acts as a major restraining factor that can hamper market growth during the forecast period.
- Availability of experienced IT specialists in emerging economies of Asia such as China and India is likely to create lucrative opportunities for the market growth.
Scope of Patient Engagement Solutions Market Report
The report on the global patient engagement solutions 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
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Details
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Report Title
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Patient Engagement Solutions Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Components (Hardware, Software [Integrated and Standalone] and Services [Education, Consulting, Implementation, and Others]), Delivery Types (On-premise and Web-based/Cloud-based), Applications (Home Healthcare Management, Financial Health Management, Social Management, and Health Management), Therapeutic Areas (Chronic Diseases [Diabetes, Cardiovascular, Obesity, and Others], Women's Health, Fitness, Mental Health, and Others), and End-users (Individual Users, Providers, and Payers)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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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
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Orion Health Ltd.; Cerner Corporation; Phytel Inc.; Medecision Inc.; GetWellNetwork Inc.; YourCareUniverse Inc.; Lincor Solutions Ltd.; Athenahealth, Inc.; Allscripts Healthcare Solutions; and McKesson Corporation
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Patient Engagement Solutions Market Segment Insights
Components Segment Analysis
On the basis of components, the patient engagement solutions market is segmented into hardware, software, and services. The software segment is further bifurcated into integrated and standalone. The service segment is further fragmented into education, consulting, implementation, and others.
The software segment is projected to expand at a considerable CAGR during the forecast period as it offers certain advantages such as easy set-up and use to access precise medicine information. It also aids in the quick digital transfer of prescriptions.
On the other hand, the service segment, however, is anticipated to account for a major market share during the forecast period owing to wide use of the service for forecasting and initiating actions using live training approaches by employing enhanced analytics on-premise or in the cloud.
Delivery Types Segment Analysis
In terms of delivery types, the market is bifurcated into on-premise and web-based/cloud-based. The web-based/cloud-based segment is expected to hold a significant share of the market ascribed to rising demand for remote access to real-time data tracking, integrated features, quick accessibility, low handling costs, and simple data backup.
However, the on-premise segment is anticipated to account for a significant market share as patient data is secure, retrievable, and accessible. The necessity for on-premise services stems mostly from the ability to have total access to the information stored on the premises.
Applications Segment Analysis
Based on applications, the patient engagement solutions market is segregated into home healthcare management, financial health management, social management, and health management. The health management segment is expected to grow at a high rate during the projected period owing to quick response and improved patient compliance with care.
On the other hand, the home healthcare management segment is anticipated to be a fast-growing segment during the forecast period as patients can keep track of their appointments, pay their bills online, and contact with their healthcare professionals from the comfort of their own homes.
Therapeutic Areas Segment Analysis
On the basis of therapeutic areas, the market is fragmented into chronic diseases, women's health, fitness, mental health, and others. The chronic diseases segment is further classified as diabetes, cardiovascular, obesity, and others.
The chronic diseases segment is projected to dominate the market during the projected timeline owing to wide adoption of the software for doctor advice and treatment among patients with chronic illness.
It allows patients to communicate with their healthcare professionals from remote places, allowing for a more efficient flow of information, patient feedback, and other health-related data. The fitness segment, however, is expected to grow rapidly due to rising need to improve the user experience, raise fitness and health awareness, and encourage the usage of wearables and monitoring applications.
End-Users Segment Analysis
In terms of end-users, the patient engagement solutions market is categorized as individual users, providers, and payers. The providers segment is expected to rise significantly during the targeted period as patient portals are widely adopted for obtaining information and making difficult healthcare decisions, which have finally enhanced use of normal care processes.
The payers segment has the second-largest revenue share and is projected to hold a large market share owing to payers' use of modalities that promote broad coverage and enable value-based care delivery.
Regional Analysis
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to important forces such as the adoption of mhealth and EHR along with the presence of the main global corporations in the region.
However, the market of Europe is anticipated to expand at a rapid pace during the forecast period due to the increasing investment in advanced software development and publicly financed services by government agencies such as NHS.
Segments
Components
- Hardware
- Software
- Services
- Education
- Consulting
- Implementation
- Others
Delivery Types
- On-premise
- Web-based/Cloud-based
Applications
- Home Healthcare Management
- Financial Health Management
- Social Management
- Health Management
Therapeutic Areas
- Chronic Diseases
- Diabetes
- Cardiovascular
- Obesity
- Others
- Women's Health
- Fitness
- Mental Health
- Others
End-users
- Individual Users
- Providers
- Payers
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Orion Health Ltd.
- Cerner Corporation
- Phytel Inc.
- Medecision Inc.
- GetWellNetwork Inc.
- YourCareUniverse Inc.
- Lincor Solutions Ltd.
- Athenahealth, Inc.
- Allscripts Healthcare Solutions
- McKesson Corporation
Competitive Landscape
Key players competing in the global patient engagement solutions market are Orion Health Ltd.; Cerner Corporation; Phytel Inc.; Medecision Inc.; GetWellNetwork Inc.; YourCareUniverse Inc.; Lincor Solutions Ltd.; Athenahealth, Inc.; Allscripts Healthcare Solutions; and McKesson Corporation.
To increase their market presence, major firms are pursuing new strategies such as regional penetration, mergers and acquisitions, and collaboration. For instance, GetWellNetwork and Cerner joined in September 2019 to bridge the gap between doctors and patients from inpatient to outpatient and home settings.This collaboration aimed at improving customer involvement and accessibility.
- In April 2020, GE Healthcare unveiled a new cloud-based remote-monitoring technology to help doctors care for ventilated COVID-19 patients.
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