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Added: (Tue Oct 31 2023)
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Meticulous Research®—a leading global market research company, published a research report titled, ‘Patient Engagement Solutions Market by Offering (Software, Service) Delivery Mode (On-premise, Cloud) Application (Home Healthcare, Population Health, Patient Journey, Outpatient, Financial, Wellness, Disease Management) End User - Global Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the patient engagement solutions market is projected to reach $99.5 billion by 2030, at a CAGR of 19.2% during the forecast period. The growth of this market is driven by increasing demand and adoption of patient engagement solutions, efforts to enhance patient-centric care by end users, growing industry consolidation through partnerships and collaborations, government initiatives and regulatory upgradation, rising healthcare expenditure, rising prevalence of chronic diseases coupled with the increasing geriatric population. However, patient data privacy and safety concerns are restraining the growth of this market.
Furthermore, the growing adoption of wearable and mobile-based digital healthcare solutions and emerging economies are posing significant opportunities for patient engagement solutions manufacturers. However, the lack of digital literacy, the high cost associated with the deployment of healthcare IT solutions, and the lack of skilled IT personnel in the healthcare industry are challenges to the growth of this market.
Key Players
The key players operating in the patient engagement solutions market are Allscripts Healthcare Solutions, Inc. (U.S.), athenahealth, Inc. (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), McKesson Corporation (U.S.), Oneview Healthcare (Ireland), IQVIA (U.S.), Epic Systems Corporation, AdvancedMD, Inc. (U.S.), Cognizant Technology Solutions Corporation (U.S.), Siemens Healthineers AG (Germany), Harris Healthcare (U.S.), and Medical Information Technology, Inc. (U.S.).
Patient Engagement Solutions Market: Future Outlook
The patient engagement solutions market is segmented by Offering [Hardware, Software, Services], Mode of Delivery [Web and Cloud-based Solutions, On-premise Solutions], Application [Care Management Applications (Health Management, Home Healthcare Management, Patient Journey Mapping and Analysis, Population Health Management, Outpatient Health Management, Financial Health Management, Other Applications) Therapeutic Applications (Disease Management, Health & Wellness)], End User [Healthcare Payers, Healthcare Providers, Patients], and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Among the offerings, in 2023, the software segment is expected to account for the largest share of the patient engagement solutions market. Patient engagement software enables personalized care plans, customized patient and caregiver engagement, integrated workflow, and data collection and analysis. Furthermore, patient engagement software provides task reminders for the patients, goal setting and tracking, pre- and post-counseling education and acts as a communication hub between the caregiver and the patient enabling a positive patient-to-physician experience.
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Among the deployment modes, in 2023, the web and cloud-based solutions segment is expected to account for the largest share of the patient engagement solutions market. The low chances of data misuse, remote data accessibility, high storage capacity, and reduction in operational costs are some of the key factors contributing to the largest market share of this segment.
Among the applications, in 2023, the therapeutic applications segment is expected to account for the largest share of the patient engagement solutions market due to the ability of health management solutions to collect critical information such as glucose levels, mood swings, heartbeat, weight, and sleeping patterns for disease management and health & wellness performance tracking. The records generated from these solutions could be further shared with healthcare professionals to help them monitor the changes in patients’ fitness and overall well-being.
Among the end users, in 2023, the healthcare providers are expected to account for the largest share of the patient engagement solutions market. Factors such as the large volume of patients served by healthcare providers, them being the top line serving a large volume of patients and increasing patient pool are some factors that account for the largest market share.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the patient engagement solutions market, followed by Europe and Asia-Pacific. Furthermore, in 2023, the U.S. is expected to be the largest market shareholder in North America. The growth of this market is primarily attributed to the high adoption of advanced technologies, high literacy among the population for the adoption of advanced solutions, and high government spending on the healthcare sector.
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Key questions answered in the report:
• What are the high-growth market segments regarding offering, mode of delivery, application, end user, and region/country?
• What was the historical market size for patient engagement solutions globally?
• What are the market forecasts and estimates for 2023–2030?
• What are the major drivers, restraints, challenges, and opportunities in the patient engagement solutions market?
• Who are the major players in the global patient engagement solutions market?
• How is the competitive landscape, and who are the market leaders in the global patient engagement solutions market?
• What are the recent developments in the patient engagement solutions market?
• What strategies are adopted by the major players in the patient engagement solutions market?
• What are the geographical trends and high-growth regions/countries?
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