Patient Engagement Solution Market: Growth Drivers, Challenges, And Regional Analysis

By Author: Strategic Market Research
Total Articles: 19
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Patient engagement solutions refer to technologies and strategies that enable patients to be more involved and empowered in their healthcare. These solutions aim to improve patient experience, satisfaction, and outcomes by encouraging patients to actively manage their health.
Patient engagement solutions can include digital tools and platforms such as patient portals, mobile apps, wearable devices, and telehealth technologies. These solutions enable patients to access their health information, communicate with healthcare providers, track their progress, and receive personalized guidance and support.

In 2021, the market for patient engagement solutions was worth USD 13.42 billion, and by 2030, it will be worth USD 74.28 billion, growing at a 20.93% CAGR during the forecast period.

The market for patient engagement solutions is driven by a growing recognition of the importance of patient engagement in improving healthcare outcomes and reducing costs. Factors like the aging population, the increasing prevalence of chronic diseases, and the need to manage healthcare costs are also contributing to the growth of ...
... this market.

Market Dynamics

Drivers

Growing demand for patient-centric care: There is a growing focus on delivering patient-centric care, which requires healthcare providers to engage patients in their own care. Patient engagement solutions provide patients with the tools and resources to participate in their care and make informed decisions.
The rising rate of chronic diseases: Chronic disorders such as diabetes, heart disease, and cancer are becoming more common, placing a significant burden on the healthcare system. Patient engagement solutions can help patients manage their conditions, reduce the risk of complications, and improve their overall health outcomes.
Technological advancements: The development of new technologies such as mobile health apps, wearables, and remote monitoring devices has made it easier for patients to monitor their health and communicate with their healthcare providers. These technologies are driving the growth of the patient engagement solutions market.
Emphasis on value-based care: Healthcare systems worldwide are shifting towards a value-based care model, which places a greater emphasis on improving patient outcomes and reducing costs. Patient engagement solutions can help achieve these goals by improving patient engagement and reducing the need for expensive interventions.

Restraints

As a new area of the healthcare industry, information technology professionals are in short supply. Online patient data is also handled like a public treasure, which creates security issues. These restrictions consequently prevent the market for patient engagement products from growing.

Market Segmentation

By Delivery Type

On the basis of delivery type, the patient engagement solution market is segmented into web & cloud-based, and on-premise. 
In 2022, the web & cloud-based segment was the global market leader. These portals are becoming increasingly popular due to their remote access to real-time data tracking, quick accessibility, integrated features, affordable handling costs, and straightforward data backup.

By Component

The software segment ruled the overall market in 2022. The software is easy to install and use, making it easy to find precise information on medications. Additionally, it helps with the effective digital transfer of prescriptions. Many businesses, including home healthcare management and healthcare management, use the software for patient engagement solutions.

By Functionality 

In 2022, the communication segment was the biggest market, with 35.0% of the revenue share. The significant share of this segment is due to the rising adoption of mhealth, telehealth, and other virtual communication solution like video, audio, and text.  

By Therapeutic Area

In 2022, the chronic disease management segment led the entire market with the largest revenue share of 40%. Patients with chronic disorders require continuous care and tracking of their ailments. The patient engagement technologies enable remote patient-provider communication, facilitating a smooth exchange of information and patient input.

By End-Use

The providers segment had the biggest revenue share in 2022. Due to the increased use of routine care procedures, sophisticated healthcare decision-making, and patient portals for information access, physicians encourage improved patient engagement techniques.

Regional Analysis 

In 2022, North America was the largest market leader, with 35.0% of the revenue share. The largest share of this segment is due to the rising acceptance of mHealth and electronic health records (EHR), as well as the major firms' growing investment in patient engagement software. Additionally, the North American region's global patient engagement solutions market is anticipated to grow faster than other regions due to rising public awareness and greater government investment in the healthcare sector.  

During the projected period, the Asia-Pacific region will grow at the fastest rate of 19%. The need for new systems, improvements in medical infrastructure, and software replacement will offer the market for patient engagement solutions with promising growth opportunities.

Key Players 

Epic Systems Corporation
MEDHOST
Cerner Corporation (a subsidiary of Oracle Corporation)
Allscripts Healthcare, LLC
Epic Systems Corporation Klara Technologies, Inc.
Reed
McKesson Corporation
Koninklijke Philips N.V.
Experian Information Solution, Inc.
IBM
Nuance Communications, Inc.
athenahealth, Inc.
Solutionreach, Inc.
NextGen Healthcare, Inc

In 2021, the market for patient engagement solutions was worth USD 13.42 billion, and by 2030 it will be worth USD 74.28 billion, growing at a 20.93% CAGR during the forecast period. The increasing popularity of mobile health apps and the increasing importance of health-tracking software are factors stimulating the growth of the market for patient engagement solutions globally. Additionally, expanding government laws and healthcare programs present profitable opportunities for the market expansion of patient engagement systems.

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