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Patient Engagement Solutions Market

Patient Engagement Solutions Market Size, Share & Segment By Delivery Type ( On-premise, Web & Cloud-based), By Component Type (Software & Hardware, Services, Standalone, Consulting, Integrated, Support & Maintenance, Implementation & Training, Others), By Functionality (Health Tracking & Insights, Patient Education, Communication, Administrative, Billing & Payments, Others), By Therapeutic Area (Chronic Disease Management, Health & Wellness, Others), By Application (Population Health Management, In-patient Health Management, Outpatient Health Management, Others), By End-user (Providers, Payers, Others), and by Regions | Global Market Forecast 2022-2028

Report Id: SNS/HC/1782 | June 2022 | Region: Global | 125 Pages

Patient Engagement Solutions Market Overview:

The Patient Engagement Solutions Market Size was valued at USD 16.6 billion in 2021, and expected to reach USD 50.41 billion by 2028, and grow at a CAGR of 17.2% over the forecast period 2022-2028.

Patient Engagement is a healthcare method in which the clinician and the patient collaborate and the patient takes an active role in their own health to get better results. All of the data concerning the patient's most recent health reports, dose, and medicines is kept up to date and accessible to the patients. This software aids the patient in managing their own healthcare while also assisting the consultant in providing appropriate remedies. Patient engagement systems provide cost-effective healthcare, increased patient outreach, fewer complications, lower hospital readmission rates, shorter hospitalisation times, and better health care quality. In order to incentivize patients for patient education, patient engagement solutions require more involvement. Patients are actively involved in the techniques of acquiring evaluating information regarding their symptoms, illnesses, and treatment options in patient engagement clinical trials.

Patient Engagement Solutions Market

To assist patients and improve operational efficiencies, patient engagement solutions share data and interaction. It also helps to cut down on administrative expenses. Patient engagement software improves patient-provider communication and keeps both the patient and the medical team informed about personal health information. It is critical to equip them with the appropriate tools to actively participate in their healthcare system. Patients can promote good self-care by having more consistent access to healthcare providers and personal health information. It also helps physicians provide better diagnoses and more coordinated care by storing information about patients' health and allowing clinical cases to be shared among care teams.

MARKET DYNAMICS

DRIVERS

  • Government rules and measures to enhance patient-centered care are being implemented.

  • Chronic diseases are becoming more common.

  • The expansion in the quantity of clinical offices.

  • Innovations in technology

  • Ambulatory services are becoming more prevalent.

  • Government projects that are beneficial

  • Major firms in the healthcare IT business are increasing their investment.

  • Developing countries are increasing their demand for patient engagement solutions.

RESTRAINTS

  • Large capital expenditures are required for healthcare infrastructure.

OPPORTUNITIES

  • Emerging market expansion prospects

CHALLENGES

  • The high expenses of deploying healthcare IT systems

IMPACT OF COVID-19

The COVID-19 pandemic has had a long-term impact on public health as well as a significant economic impact on most countries. The COVID-19 epidemic has also raised the requirement for social distance between physicians and patients, driving demand for virtual consultations via various telehealth and patient engagement technologies, as well as the necessity for accurate and rapid patient health record exchange. Several industry participants have included COVID-19-related capabilities into their existing patient engagement solutions, that are being made available to consumers for free. Furthermore, the requirement for EMR and EHR platforms to handle complex patient data has expanded as a result of rising patient volumes. The second wave of COVID-19 has also affected many countries, resulting in complete lockdowns. Due to social distance restrictions, the usage of patient engagement methods has increased slightly.

By Component Type:

Hardware is included in this category since it is needed to build up patient interaction platforms. In the market for patient engagement solutions, this sector is predicted to hold the smallest market share.

Software: The largest section provides accurate, unbiased, relevant, and curated data through patient interaction software. Furthermore, the software's seamless integration with electronic health records gives doctors and patients access to real-time clinical intelligence whenever and wherever they need it.

The necessity for considerable training, support, and up-gradation services for the sophisticated software launch, integration, and interoperability of patient engagement systems has resulted in the second-largest segment.

By Delivery Type:

Web-based: Web-based delivery is completely online and gives customers with network access to healthcare patient engagement solutions.

Cloud-based software is deployed and controlled via a vendor's cloud computing infrastructure and accessed via the Internet by users. This model functions in the same way that the on-premise model does. In the market for patient engagement solutions, this is the largest sector by delivery modality.

On-Premise: The on-premise delivery model operates in such a way that the software is installed and operated within the organization's infrastructure.

By Functionality

As the key component of every patient engagement solution, communication accounted for the greatest revenue share of approximately 35.0 percent in 2021. A spike popular and execution of telehealth, mhealth, and other virtual correspondence choices by means of sound, video, and text is liable for this tremendous extent. The epidemic has accelerated the already rapid adoption of virtual communication systems, allowing them to be applied to remote patient monitoring, mental health, and a variety of other applications.

During the forecast period, the health tracking and insights section is expected to increase at the fastest rate, at 18.8%. This is due to the growing use of data analytics, artificial intelligence, and machine learning to offer patients and their caregivers with relevant information. Nuance Mix, for example, is a conversational AI toolset platform featuring deep learning-based speech and NLU capabilities developed by Nuance Communications, Inc. Leidos and Nuance announced a collaboration in September 2021 to design and deliver tailored patient engagement solutions using the latter's platform and omnichannel development tools.

By Therapeutic Area

Chronic Disease: As the prevalence of chronic diseases rises, so does awareness of patient engagement solutions, creating favourable conditions for this segment's growth. This sector is expected to have the largest market share for patient engagement solutions.

Fitness Management is the quickest growing segment, with the highest CAGR expected over the projected period.

Women's Health Management: Women's health management is concerned with the diagnosis and treatment of women and is specifically developed for them.

By Application

Social Management: These are used to keep track of patient information and ensure that data is shared between the healthcare provider and the patient in a timely manner.

Health Management: Due to increased investments in the healthcare IT sector, this segment is expected to hold the biggest market share for patient engagement solutions.

Home Health Management: Due to the increased use of patient engagement solutions, home health patient engagement solutions are expected to grow at the fastest rate throughout the projected period.

Financial Health Management (FHM) is concerned with the financial aspects of healthcare services and assists payers and providers in maintaining patient data.

By End-user

In 2021, providers had the highest revenue share of over 46.0 percent. Providers serve the highest number of patients and are also the first line of treatment for consultations on a variety of health issues, from general to specialty. As a result, these end users are the most active users of patient engagement systems. Northwell Health in the United States introduced a patient engagement platform by Playback Health at certain clinical facilities in December 2021 to increase mobility and communicate point-of-care medical data while conforming to health information security regulations. Over the projected period, the payer end-user category is expected to grow at the fastest rate. The increased adoption of patient and customer interaction technologies, which promote broad coverage and allow value-based care delivery, can be credited to the payer segment's rise. Payers plan to manage patient care and contact patients at every stage of therapy in order to boost growth.

COMPETITIVE LANDSCAPE

Some of the major key players of Patient Engagement Solutions Market are as follows: Allscripts Healthcare, LLC, Cerner Corporation (Oracle), Epic Systems Corporation, Koninklijke Philips N.V., Klara Technologies, Inc., McKesson Corporation, NextGen Healthcare Inc., ResMed, and other players.

MARKET SEGMENTATION:

By Delivery Type

  • On-premise

  • Cloud-based

By Component Type

  • Software & Hardware

  • Services

  • Standalone

  • Consulting

  • Integrated

  • Support & Maintenance

  • Implementation & Training

  • Others

By Functionality

  • Health Tracking & Insights

  • Patient Education

  • Communication

  • Administrative

  • Billing & Payments

  • Others

By Therapeutic Area

  • Chronic Disease Management

  • Health & Wellness

  • Others

By Application

  • Population Health Management

  • In-patient Health Management

  • Outpatient Health Management

  • Others

By End-user

  • Providers

  • Payers

  • Others

Patient Engagement Solutions Market

REGIONAL ANALYSIS

Due to the presence of significant players, increased acceptance of mhealth and EHR, and expanding investment in patient engagement software by big enterprises, North America held the largest revenue share of about 35.0 percent in 2021. Furthermore, rising awareness, combined with increased government funding in the healthcare industry, is likely to boost growth. Because of publicly funded institutions like the National Health Service (NHS) in the United Kingdom, Europe had the second-largest proportion in 2021. For example, the NHS aimed to go totally paperless by 2021 and provide patients with access to electronic health records (EHRs).

During the forecasted period, the Asia Pacific market is predicted to grow at an attractive rate of 19.8%. Some of the important drivers that are expected to give attractive growth prospects to the market over the forecast period include increasing internet and smartphone penetration, a huge patient population, improving healthcare infrastructure and care quality, and the presence of local companies. The rise of this region is also aided by the economic prosperity of countries such as India and China.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Patient Engagement Solutions Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 16.6 Billion
Market Size by 2028 US$ 50.41 Billion
CAGR CAGR of 17.2% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Delivery Type ( On-premise, Web & Cloud-based)
• By Component Type (Software & Hardware, Services, Standalone, Consulting, Integrated, Support & Maintenance, Implementation & Training, Others)
• By Functionality (Health Tracking & Insights, Patient Education, Communication, Administrative, Billing & Payments, Others)
• By Therapeutic Area (Chronic Disease Management, Health & Wellness, Others)
• By Application (Population Health Management, In-patient Health Management, Outpatient Health Management, Others)
• By End-user (Providers, Payers, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Patient Engagement Solutions Market are as follows: Allscripts Healthcare, LLC, Cerner Corporation (Oracle), Epic Systems Corporation, Koninklijke Philips N.V., Klara Technologies, Inc., McKesson Corporation, NextGen Healthcare Inc., ResMed, and other players.
DRIVERS • Government rules and measures to enhance patient-centered care are being implemented.
• Chronic diseases are becoming more common.
• The expansion in the quantity of clinical offices.
RESTRAINTS • Large capital expenditures are required for healthcare infrastructure.


Frequently Asked Questions (FAQ) :

Patient Engagement Solutions Market Size was valued at USD 16.6 billion in 2021.

As the key component of every patient engagement solution, communication accounted for the greatest revenue share.

North America held the largest revenue share in the Patient Engagement Solutions market.

Innovations in technology, and Ambulatory services are becoming more prevalent are the drivers of Patient Engagement Solutions market.

Emerging market expansion prospects are the opportunities of Patient Engagement Solutions market.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine ware

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Patient Engagement Solutions Market Segmentation, By Delivery Type

8.1 On-premise

8.2 Web & Cloud-based

 

9. Patient Engagement Solutions Market Segmentation, By Component Type

9.1 Software & Hardware

9.2 Services

9.3 Standalone

9.4 Consulting

9.5 Integrated

9.6 Support & Maintenance

9.7 Implementation & Training

9.8 Others

 

10. Patient Engagement Solutions Market Segmentation, By Functionality

10.1 Health Tracking & Insights

10.2 Patient Education

10.3 Communication

10.4 Administrative

10.5 Billing & Payments

10.6 Others

 

11. Patient Engagement Solutions Market Segmentation, By Application

            11.1 Population Health Management

11.2 In-patient Health Management

11.3 Outpatient Health Management

11.4 Others

 

12. Patient Engagement Solutions Market Segmentation, By End-user

12.1 Providers

12.2 Payers

12.3 Others

 

13. Patient Engagement Solutions Market Segmentation, By Therapeutic Area

13.1 Chronic Disease Management

13.2 Health & Wellness

13.3 Others

 

14. Regional Analysis

14.1 Introduction

14.2 North America

14.2.1 USA

14.2.2 Canada

14.2.3 Mexico

14.3 Europe

14.3.1 Germany

14.3.2 UK

14.3.3 France

14.3.4 Italy

14.3.5 Spain

14.3.6 The Netherlands

14.3.7 Rest of Europe

14.4 Asia-Pacific

14.4.1 Japan

14.4.2 South Korea

14.4.3 China

14.4.4 India

14.4.5 Australia

14.4.6 Rest of Asia-Pacific

14.5 The Middle East & Africa

14.5.1 Israel

14.5.2 UAE

14.5.3 South Africa

14.5.4 Rest

14.6 Latin America

14.6.1 Brazil

14.6.2 Argentina

14.6.3 Rest of Latin America

 

15 Company Profiles

15.1 Allscripts Healthcare, LLC

            15.1.1 Financial

15.1.2 Products/ Services Offered

15.1.3 SWOT Analysis

15.1.4 The SNS view

15.2 Cerner Corporation (Oracle)

15.3 Epic Systems Corporation

15.4 Koninklijke Philips N.V.

15.5 Klara Technologies, Inc.

15.6 McKesson Corporation

15.7 NextGen Healthcare, Inc.

15.8 ResMed

 

16 Competitive Landscape

16.1 Competitive Benchmark

16.2 Market Share analysis

16.3 Recent Developments

 

14 Conclusion

 

 

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