The Patient Engagement Solutions Market Size was valued at USD 19.45 billion in 2022, and is expected to reach USD 69.25 billion by 2030 and grow at a CAGR of 17.2% over the forecast period 2023-2030.
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.
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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.
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
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% 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%. 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.
By Delivery Type
On-premise
Cloud-based
By Component Type
Software & Hardware
Integrated
Standalone
Services
Consulting
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
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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
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.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 19.45 Billion |
| Market Size by 2030 | US$ 69.25 Billion |
| CAGR | CAGR of 17.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| 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. |
Ans: The Patient Engagement Solutions Market Size was valued at USD 19.45 Bn in 2022.
Ans: The Patient Engagement Solutions Market is to grow at a CAGR of 17.2% over the forecast period 2023-2030.
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- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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
17 Conclusion
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