USD 16.58 billion
Patient Engagement Solutions Market Size, Share, Growth Analysis, By Component, Therapeutic Area(Chronic Diseases, Women’s Health, Fitness, Others), Functionality (Telehealth, E-Prescribing, Billing & Payments, Others), Delivery Mode, Application, End User, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2540 |
Region:
Global |
Published Date: June, 2024
Pages:
165
|Tables:
181
|Figures:
79
Patient Engagement Solutions Market Insights
Global Patient Engagement Solutions Market size was valued at USD 16.58 billion in 2022 and is poised to grow from USD 19.49 billion in 2023 to USD 70.00 billion by 2031, growing at a CAGR of 17.54% in the forecast period (2024-2031)
Key drivers in this market are expanding technology advancements, acceptance of EHR and mHealth solutions, prevalence of chronic diseases, supportive activities by important market participants, and consumerism in healthcare. When patients and doctors communicate online, both parts increase their interest, which helps increase diagnosis accuracy. Further, the engagement of patients and doctors online has been made more easy and effective for patients by using the patient engagement tools. Remote monitoring has reduced the duration of being in the hospital. Improved health outcomes and patient outcomes, patient engagement solutions are making a radical transformation. Business expansion can be affected, independent of the current economic condition of that nation, by the ways in which operation procedures may require enhancement.
US Patient Engagement Solutions Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Hardware
Growth Rate
17.54% CAGR
Patient Engagement Solutions Market ($ Bn)
Country Share for North America Region (%)
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Patient Engagement Solutions Market Segmental Analysis
The patient engagement solutions market is segmented into Component, Delivery Mode, Application, Therapeutic Area, Functionality, End User and Region. Based on Component, the market is segmented into Hardware (In-room Televisions, Integrated Bedside Terminals/Assisted Devices, Tablets), Software (Standalone Software, Integrated Software), and Services. Based into Delivery Mode, the market is segmented into On-premise Mode and Cloud-based/ Web-based Mode. Based on Application, the market is segmented into Health Management, Home Health Management, Social & Behavioural Management, and Financial Health Management. Based on Therapeutic Area, the market is segmented into Chronic Diseases (Cardiovascular Diseases, Diabetes, Obesity, Other Chronic Diseases), Women’s Health, Fitness, and Other Therapeutic Areas. Based on Functionality, the market is segmented into Patient/Client Scheduling, Telehealth, E-prescribing, Document Management, Billing & Payments, Patient Education, and Other Functionalities. Based on End User, market is segmented into Providers (Hospitals & Healthcare Systems, Ambulatory Care Centers, Home Care Centers, Other Providers), Payers (Private, Public), Patients, Other End Users. Based on region, market is categorized into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.
Analysis by Component
In 2023, the software segment held largest revenue share of 62.7% and is projected to grow at the fastest compound annual growth rate over the forecast period. Most of these solutions basically offer software for patient engagement. This always gains the popularity with easy installation, user-friendly interfaces, and constant updates. Notable examples include Allscripts' FollowMyHealth, a customizable mobile-first enterprise solution being widely adopted by providers, hospitals, and health systems, set to enhance care quality and raise patient satisfaction rates, by offering streamlined ease-of-access to health records from and for patients.
The services section is essential for proper implementation that is customized to the specific need of the customers and allows the best results for patient health. Examples are consulting, implementation, training, support, integration, and maintaining services that will include EHR data and interoperability access. These encompass services to facilitate seamless and effective incorporation of a patient engagement solution, therefore maximizing its full potential in improving patient care and satisfaction. This implies that these services enable the engagement and utilization of patient engagement technologies by healthcare providers to improve overall healthcare delivery and outcomes.
Analysis by End User
In 2023, the providers segment captured the largest revenue share, exceeding 47.0%. They serve the maximum patient flows, as they are the first layer of healthcare for most categories of healthcare, from general to specialist consultations. They are the largest users of patient engagement solutions. For example, in the U.S., Northwell Health, through early December 2023, is working with the Playback Health patient engagement platform in selected clinical sites to achieve the mobility of point-of-care medical data for improved sharing while fully compliant to health information security standards.
The highest growth over the forecast period is projected in the payers segment, with a CAGR of 18.0%. This growth in the segment will be driven by the rising adoption of patient and customer engagement solutions that support broad coverage and the delivery of value-based care. Payers, in particular, are focusing on managing the care of patients more effectively and effectively establishing connections with the patient at various junctures of their treatment journey. They achieve this by increasing patient engagement, which causes better health outcomes and efficient care delivery, thereby contributing to the development of this segment.
Patient Engagement Solutions Market Component
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Patient Engagement Solutions Market Regional Insights
North America dominated the market in 2023 with a major share due to prominent major players, uptake of medical and electronic health records, and large-scale investments by prominent corporations. Also, increased government funding in the sector of healthcare, along with advancements occurring in modern technology, is further expected to bolster the revenue of the market in the region.
The Asia-Pacific patient engagement solutions market is projected to register a higher CAGR during the forecast period compared to other regions. Major factors driving the Asia-Pacific includes rising incidences of various chronic diseases, an increase in demand for cost-effective quality care with an ageing population, and others. The current COVID-19 outbreak in the Asia-Pacific has only swollen the pool of patients, more so in populous countries like China and India. An increasing demand for fast and accurate diagnostic and treatment modalities of several medical ailments, along with an increase in the number of patients, is expected to bring increased revenues to the Asia-Pacific industry.
Patient Engagement Solutions Market By Region
- Largest
- Fastest
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Patient Engagement Solutions Market Dynamics
Patient Engagement Solutions Market Driver
Growing Demand for Health Tracking Drives the Market Growth
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Increasing health issues, and monitoring health is rising as a trend. With evolution in technology, one can help patients with personalized care and health monitoring. Nowadays, more people maintain records of their health data and many are shared with the doctors and physical trainers in order to keep track of their health conditions. The market for patient engagement solutions is expected to continue its evolution throughout the forecast period due to the growing demand for health and fitness monitoring devices.
Technological Advancements Fuel Growth in the Market
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Improvements in technology are changing the face of the Patient engagement solutions market—readiness of patients to share data in support of personalized care, especially for people living with chronic diseases. This form of individual health monitoring is gaining immense appeal among patients; most of them are willing to share health data to achieve better outcomes. Integrated technologies such as artificial intelligence, internet of things, and health information technology solutions are expected to introduce new features and capabilities in point engagement solutions. Consequently, these technological innovations are creating exciting opportunities for market growth in the forecast period.
Restraint
High Costs of Healthcare IT Systems Pose Challenges
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Health information technology systems are very expensive for the software. More still, the operation charges and the cost of the improvement of software also appear to be quite expensive as compared to the cost of the product. More than fifty percent of the total cost of ownership deals with the recurring costs for the maintenance and support services, like modification and upgrading of software. This makes the system expensive because end users will have to be trained on how to harness the productivity of the different healthcare information technologies for lack of internal information technology knowledge in the sector.
Data Security Concerns Impede Adoption of Patient Engagement Solutions
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Information sharing between healthcare professionals is being hampered by issues with patient health data security. As a result, patient engagement projects in various healthcare organisations are hindered, and potential end users are less likely to choose patient engagement solutions.
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Patient Engagement Solutions Market Competitive Landscape
Numerous businesses are actively working to increase their market share and diversify their product offerings on the worldwide market. In order to maintain their lead in the market, these competitors invest in research and development while emulating what is happening in technology in producing the latest goods for customers. To achieve a competitive advantage and at the same time solidify their market position, they are looking at various inorganic strategies that can enhance their growth.
Top Players in the Global Patient Engagement Solutions Market
- IBM (US)
- McKesson Corporation (US)
- Allscripts Healthcare Solutions, Inc (US)
- ResMed (US)
- Epic Systems Corporation (US)
- Orion Health Ltd. (New Zealand)
- GetWellNetwork (US)
- Athenahealth (US)
- Oneview Healthcare (Ireland)
- MEDITECH (US)
- Cognizant (US)
- Symphony Care (US)
- Harris Healthcare (US)
- Kareo (US)
- CureMD Healthcare (US)
- eClinicalWorks (US)
- Lincor Solutions (US)
- AdvancedMD (US)
- WellStack(US)
- IQVIA (US)
- Vivify Health (US)
Patient Engagement Solutions Market Recent Developments
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In February 2024, Greenway Health, a prominent provider of health information technology services, partnered with Luma Health to introduce Greenway Patient Connect powered by Luma. This new patient engagement solution aims to facilitate patient self-service, alleviate staff burden, and enhance access to healthcare services.
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In October 2023, Elligo Health Research teamed up with Avallano to introduce myTrialsConnect, a clinical trial recruitment and engagement platform powered by artificial intelligence (AI).
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In September 2023, Zocdoc, a platform facilitating patient appointment scheduling, is launching a complimentary suite of tools. These tools aim to assist healthcare providers in efficiently reaching and managing patient care.
Patient Engagement Solutions Key Market Trends
- Evolving Patient Engagement Strategies in the Life Sciences Sector: In order to improve patient adherence to therapy and health outcomes, businesses in the life sciences sector are concentrating on making their organisations, people, processes, and platforms more engaging for patients. Although this aim is unwavering, patient engagement tactics are constantly changing due to the addition of issues like patient data and security, patient marketing, worldwide operations, and organisational implications.
Patient Engagement Solutions Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Increasing health issues, and monitoring health is rising as a trend. With evolution in technology, one can help patients with personalized care and health monitoring. Nowadays, more people maintain records of their health data and many are shared with the doctors and physical trainers in order to keep track of their health conditions. Improvements in technology are changing the face of the point-of-care diagnostics market—readiness of patients to share data in support of personalized care, especially for people living with chronic diseases. By component, in terms of revenue, the patient engagement solutions market in 2023 was dominated by the software and hardware sector. In the market for patient engagement solutions globally in 2023, the communication category accounted for the biggest revenue share, by functionality. Over the course of the forecast period, the cloud-based solution sector is anticipated to experience the quickest revenue CAGR, as per the Delivery mode. By the application, the home health management sector led the patient engagement solutions market globally in 2023. In 2023, the providers sector had the greatest revenue share in the market for patient engagement solutions worldwide for end users. Region-wise, the North America region accounted highest market share in the year 2023, followed by Europe.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 16.58 billion |
| Market size value in 2031 | USD 70.00 billion |
| Growth Rate | 17.54% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Patient Engagement Solutions Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Patient Engagement Solutions Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Patient Engagement Solutions Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Patient Engagement Solutions Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Patient Engagement Solutions Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Patient Engagement Solutions Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Patient Engagement Solutions Market Report Snapshots
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