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Patient Engagement Solutions Market By Delivery Type (Web & Cloud-based, On-premise) By Component (Software & Hardware, Standalone, Integrated,Hardware) By Functionality(Communication, Health Tracking & Insights, Billing & Payments) - Growth, Future Prospects & Competitive Analysis, 2016 - 2028

About this report

The global patient engagement solutions market report explores the critical analysis of the patient engagement solutions industry using key parameters. The report consists of investment strategies, the need for investments in the patient engagement solutions industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the patient engagement solutions industry and how economic and non-economic barriers are helping the market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

REPORT ATTRIBUTE DETAILS

Patient Engagement Solutions Market by Volume

Yes

Market by Value

Yes

Market, Tornado Analysis

Yes

Market, STAR Analysis

Yes

Market, SRC Analysis

Yes

Market, Import-Export Data

Yes (On Demand)

Market Pricing Analysis

Yes (On Demand)

Market Segment Analysis

By Delivery Type (Web & Cloud-based and On-premise)

By Component (Software & Hardware, Standalone, Integrated, Hardware, Services, Consulting, Implementation & Training, Support & Maintenance, and Others)

By Functionality (Communication, Health Tracking & Insights, Billing & Payments, Administrative, Patient Education, and Others)

By Therapeutic Area (Health & Wellness, Chronic Disease Management, and Others)

By Application (Population Health Management, Outpatient Health Management, In-patient Health Management, and Others)

By End-User (Payers, Providers, and Others)

Market, Regional Analysis

North America (US and Canada)

Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, South East Asia, and the Rest of Asia Pacific)

Latin America (Brazil, Mexico, and the Rest of Latin America)

Middle East and Africa (GCC Countries, South Africa, and the Rest of the Middle East and Africa)

Market Key Companies

Cerner Corporation (Oracle); NextGen Healthcare, Inc.; Epic Systems Corporation; Allscripts Healthcare, LLC; McKesson Corporation; ResMed; Koninklijke Philips N.V.; Klara Technologies, Inc.; CPSI; Experian Information Solutions, Inc.; athenahealth, Inc.; Solutionreach, Inc.; IBM; MEDHOST; and Nuance Communications, Inc.

Market Competitive Landscape

Market Share Analysis

Competitive Benchmarking

Key Players Market Positioning

Geographical Presence Analysis

Major Strategies Adopted

Key Highlights of the report

How are the major segments performing in the Patient Engagement Solutions market?

  • With a revenue share of more than 75.0%, the web and cloud-based categories dominated the market in 2021. During the projected period, the segment is also expected to grow at the fastest rate.
  • With a share of over 60.0% in 2021, the software and hardware sector is projected to grow at the fastest CAGR over the projection period. The solution's main components are hardware and software for patient engagement.

Which region dominated the patient engagement solutions market?

Due to the presence of important players, increased mHealth and EHR adoption, and growing investment in patient engagement software by the main corporations, North America held the greatest revenue share of approximately 35.0% in 2021. Additionally, it is anticipated that rising awareness levels and government spending in the healthcare industry will speed up growth. As a result of publicly supported institutions like the National Health Services (NHS) in the UK, Europe had the second-largest proportion in 2021. For instance, the NHS aimed to eliminate paper by 2020 and started giving patients access to EHRs in 2018.

How is US Market performing in the patient engagement solutions market?

The US dominated the market in North America. The rising frequency of chronic diseases, the need to lower healthcare prices for greater accessibility, government rules supporting the healthcare system, and the predominance of large market participants operating in the area are the main reasons propelling the industry's expansion in the US.

What is the competitive environment of the patient engagement solutions market?

Due to the presence of both large and small enterprises, the market for patient engagement solutions has been characterized by severe rivalry. Key players hold significant market share. Major firms want to execute new strategies such as geographic penetration, the creation of new products and solutions, mergers and acquisitions, partnerships, and strategic collaborations to increase their market share.

Executive Summary

What is the market scenario of the Patient Engagement Solutions Market?

Patients with chronic disorders continually monitor their health and minute changes in their bodies, so patient engagement solutions are crucial for managing chronic diseases. These patient engagement tools make it easier for patients to follow and participate in their treatment regimens. Greater patient compliance, proactive actions, better communication, cheaper costs, and higher-quality care are all encouraged by this. A National Council on Aging research from 2021 found that 85% of older persons in the United States have at least one chronic disease, and 60% of older adults have two or more chronic diseases.

Which are the key investments by the patient engagement solutions market players?

In 2021, McKesson (US) and Merck (US) announced a strategic partnership that would allow the two healthcare titans to harness the power of real-world evidence (RWE) to better patient outcomes and the standard of cancer care. IBM Watson Assistant for Health Benefits, an AI-enabled virtual agent created in the IBM Watson Health Cloud, will be released in 2021 due to a partnership between Humana (US) and IBM (US). In addition to improving the member experience, this agent helps Humana Employer Group members understand benefits and other related topics with greater clarity and transparency. Allied Digestive Health chose the cloud-based healthcare payments and patient engagement solutions from athenahealth (US) in 2021 to improve patient relations and revenue cycle excellence and support the organization's future growth.

Some major players in the patient engagement solutions market are Cerner Corporation (Oracle); NextGen Healthcare, Inc.; Epic Systems Corporation; Allscripts Healthcare, LLC; McKesson Corporation; ResMed; Koninklijke Philips N.V.; Klara Technologies, Inc.; CPSI; Experian Information Solutions, Inc.; athenahealth, Inc.; Solutionreach, Inc.; IBM; MEDHOST; Nuance Communications, Inc.

What are the Major Driving Factors for the Patient Engagement Solutions Market?

In the upcoming years, favorable government measures are likely to have an impact on market growth. For instance, the FDA launched the Patient and Caregiver Connection program in 2018. The program aimed to promote involvement with patients, patient advocates, and caregivers through the evaluation and monitoring of the treatment. Furthermore, encouraging government measures encourage the adoption of these solutions in developing nations like India. For instance, in March 2019, MphRx and Columbia Asia Hospitals, which have locations in Malaysia, India, Indonesia, and Vietnam, introduced a suite of patient engagement applications. This program aims to improve patient involvement, digitally modernize healthcare services, and foster clinical excellence.

What are the Major Risks for the Patient Engagement Solutions Market?

Payers have previously made large investments in infrastructure and exclusive systems. When moving or integrating these systems with patient engagement solutions, these firms will face several cost-related difficulties. Additionally, they will need to adjust their current systems, designed exclusively to meet their present needs. Additionally, switching to cloud-based patient interaction systems will necessitate altering the existing IT architecture, particularly in hospitals that already act as hubs linking numerous doctors, labs, and pharmacists. Therefore, obtaining the necessary resources to establish widespread interoperability and interconnection could impede the expansion of the market.

patient-engagement-solutions-market

Which is the key delivery type in the patient engagement solutions market?

With a revenue share of more than 75.0%, the web and cloud-based categories dominated the market in 2021. During the projected period, the segment is also expected to grow at the fastest rate. These solutions are becoming more popular due to their integrated features, convenient accessibility, low handling costs, remote real-time data tracking, and simple data backup capabilities. Companies are investing in web- and cloud-based patient engagement solutions because of the abovementioned factors. For instance, Microsoft debuted its first industry-specific cloud, Microsoft Cloud for Healthcare, in May 2020. The platform's telemedicine and data analytics features help physicians improve patient engagement and collaboration among health teams.

How is the patient engagement solutions market performing in regions?

North America represented the largest revenue share of about 35.0% in 2021 due to significant companies, rising mHealth and EHR adoption, and rising investments in patient engagement software by major corporations. Additionally, it is projected that increasing government funding and public awareness will hasten expansion in the healthcare sector. Europe had the second-largest proportion in 2021 due to publically financed organizations like the National Health Services (NHS) in the UK. For instance, the NHS began granting patients access to EHRs in 2018 and aimed to eliminate paper by 2020.

During the anticipated period, the Asia Pacific market is anticipated to grow at a lucrative pace of 18.8%. A huge patient population, rising healthcare infrastructure and care quality increasing smartphone and internet usage, and the existence of local companies are a few of the major drivers that are predicted to provide the market with lucrative growth prospects throughout the projection period. The economic prosperity of nations like China and India also aids this region's expansion.

What is the Market Size of Patient Engagement Solutions regarding value?

The global patient engagement solutions market is anticipated to grow at a substantial CAGR of 17.2% in the upcoming years. The global patient engagement solutions industry was estimated to be worth USD 19.2 billion in 2021 and was expected to be worth USD 49.8 billion by 2028.

What are the major players planning for the future of the patient engagement solutions market?

Major players are focused on entering emerging markets as the adoption of government initiatives that encourage the use of HCIT solutions, rising government spending on healthcare facilities, and the existence of qualified IT professionals in developing Asian nations like China and India are some of the factors that are anticipated to support the expansion of the global market in the APAC region.

Segmentation of Global Patient Engagement Solutions Market-

Global Patient Engagement Solutions Market – By Delivery Type

  • Web & Cloud-based
  • On-premise

Global Patient Engagement Solutions Market – By Component

  • Software & Hardware
  • Standalone
  • Integrated
  • Hardware
  • Services
  • Consulting
  • Implementation & Training
  • Support & Maintenance
  • Others

Global Patient Engagement Solutions Market – By Functionality

  • Communication
  • Health Tracking & Insights
  • Billing & Payments
  • Administrative
  • Patient Education
  • Others

Global Patient Engagement Solutions Market – By Therapeutic Area

  • Health & Wellness
  • Chronic Disease Management
  • Others

Global Patient Engagement Solutions Market – By Application

  • Population Health Management
  • Outpatient Health Management
  • In-patient Health Management
  • Others

Global Patient Engagement Solutions Market – By End-User

  • Payers
  • Providers
  • Others

Global Patient Engagement Solutions Market – By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global patient engagement solutions market.

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Increasing global automotive vehicle sales are expected to drive the tire mold market growth over the projected period. This is due to accelerated urbanization, rising consumer disposable income, fuel efficiency regulations, and enhanced dynamics.

The two-piece molds segment had a major global market revenue share in 2021.

The passenger car radial (PCR) tires segment had a major revenue share in the global market in 2021.

Patient Engagement Solutions Market Scope

Report Attribute Details
Market Value in 2021 USD 19.2 billion
Market Value in 2028 USD 49.8 billion
CAGR 17.2%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Dec 2022
Category:  Healthcare
Report ID:   60861
Report Format:   PDF
Pages:   130
Rating:    4.2 (40)
Delivery Time: 24 Hours to 48 Hours   
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