Patient Engagement Solutions Market To Exhibit Over 16.0% Cagr During 2018–2023

By Author: Pramod Kumar
Total Articles: 97
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According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 16.9% from 2018 to 2023 (forecast period). The growing need for wearable health technology, mushrooming population of geriatric people, soaring adoption of mobile health solutions, and rapidly improving healthcare infrastructure are the major factors driving the expansion of the market across the globe.

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Furthermore, the growing use of healthcare solutions by geriatric people and their increasing involvement in various healthcare decision-making and wellness activities via these solutions are positively impacting the patient engagement solutions market. Depending on component, the market is classified into software, hardware, and service categories. Amongst these, the software category is predicted to reach a value of $12.3 billion by 2023, exhibiting a CAGR of 16.6% during the forecast period.

This is because ...
... the cloud-mode is a highly secure platform, as compared to the other delivery modes and exhibits excellent compliance with the Health Insurance Portability and Accountability Act (HIPAA), which fuels its large-scale adoption by healthcare providers around the world. Globally, North America is currently dominating the patient engagement solutions market, on account of the existence of well-established healthcare infrastructure, surging number of healthcare information technology (HIT) solution providers, and growing incidence of chronic illnesses in the region.

Hence, it is safe to say that the demand for patient engagement solutions will surge sharply in the upcoming years, mainly because of the growing prevalence of chronic diseases, surging population of geriatric people, and soaring healthcare expenditure all over the world.

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.