Patient Engagement Solutions Market – Global Industry Analysis And Forecast (2023 to 2029)

Patient Engagement Solutions Market has valued at US$ 17.30 Bn in 2022. The Global Patient Engagement Solutions Market size is estimated to grow at a CAGR of 10% over the forecast period.

Patient Engagement Solutions Market Overview:

The Patient Engagement Solutions Market analyses and forecasts the market size in terms of value for the market (Billion). Further, the Patient Engagement Solutions Market is segmented by Delivery Type, Component, Application, End-Users, and Region. Based on Delivery Type, the market is segmented into Web & Cloud-based, On-premise. Based on Component, the market has been segmented into Software and Services. Based on Application, the market is divided into Health Management, Social Management, Home Healthcare Management, Financial Health Management, and Others. Based on End-Users, the market is divided into Payers, Providers, and Others. North America is the dominant player in the market. The report thoroughly analyzes market drivers, limitations, and opportunities. The presentation of facts and figures gives key data for the historical period. The report explores the different segments and data that have been provided by market participants and regions. Patient Engagement Solution MarketTo know about the Research Methodology :- Request Free Sample Report Patient engagement solutions improve health outcomes. Deliver personalized experience across digital marketing channels to interact with patients, helping them stay engaged with their health. The increasing use of m-health apps is funding patient engagement solutions. According to a 2022 poll by NextGen healthcare, 83% of ambulatory healthcare survey respondents thoughts that patient engagement solutions were crucial to the financial viability of the company and patient outcomes.

Patient Engagement Solutions Market Dynamics:

Technology enables patients to share information, promote personalized care for people in chronic health, and enable efficient health monitoring. The number of patients tracking their health data is increasing, and many are willing to share the data to monitor their health. Patients are willing to do a blood test at home to check for blood sugar, cholesterol, inflammation, etc. These checks are performed by connecting to a Component that monitors these parameters. Therefore, tracking health data is contributing to the growing demand for patient engagement solutions. Adoption of Government Policies and Programmes to advance Patient-Centered Care, The CARES (Coronavirus Aid, Relief, and Economic Security) Act, a USD 2 million coronavirus emergency stimulus package, was signed into law by the IS President in march 2020. For those who are impacted by COVID-19, the law expands coverage for treatment and assistance. The CARES Act also gives Medicare more leeway to pay for telehealth services, permits physician nurse specialists to be certified by Medicare for home health services, and raises Medicare payments for hospital stays connected to COVID-19 and durable medical equipment. The demand for and acceptance of patient engagement solutions in the important market around the world is expected to increase as a result of such initiatives and legislation. Massive Investment Needs for Healthcare Infrastructure Players have always made large investments in organizations and registered systems. The cost of moving or combining these technologies with patient engagement solutions will present many difficulties for these businesses. They will also need to adjust their current systems, which are designed completely to meet their present needs. Additionally, switching to cloud-based patient interaction systems would require altering the existing IT architecture, particularly in hospitals that already act as hubs connecting numerous doctors, labs, and pharmacists. The shift in such healthcare facilities to cloud-based patient engagement systems is expected to hamper the need to locate the resources to ensure large-scale interoperability and interconnectivity. Possibility of Growth in Emerging Markets The market for patient engagement solutions in the APAC region is anticipated to grow because of the adoption of government initiatives that encourage the use of HCIT solutions, an increase in government spending on healthcare facilities, and the presence of skilled IT experts in emerging Asian nations, such as China and India. The country’s healthcare management industry is experiencing important restructuring because of technological improvements. China is dealing with issues including underfunded rural health clinics, overcrowded city hospitals, and nationwide physician shortage. Expensive Healthcare IT System Installations The software solutions for healthcare IT systems are expensive. The cost of maintaining and updating these systems can exceed the price of the software. A recurring expense that accounts for over 30% of the total cost of ownership is support and maintenance services and software upgrades. Training and users are required to improve the effectiveness and outcomes of various healthcare IT solutions, which raises the cost of ownership of the systems due to the scarcity of internal competent IT workers in the healthcare industry. The organizational impact and benefits of IT systems in healthcare are intangible, which makes evaluating them difficult.

Patient Engagement Solutions Market Segment Analysis:

Based on Delivery Type, cloud-based deployment is expected to grow at a CAGR of 15.4% during the forecast period. The factors attributed to the growth of patient engagement solution providers are the increasing use of cloud-based technology. Cloud-based patient engagement solutions have cutting-edge characteristics like very intuitive, automated facilitation for quick and real-time notification, healthcare solutions advancements, and others. Such characteristic dependability fuels business growth. Healthcare firms are expected to store all of that data without incurring additional costs to maintain physical servers by implementing cloud technologies.Patient Engagement Solution MarketBased on the Application, in 2022, the revenue from the patient engagement solution software increased by 9.9% per year. The demand for services is expected to continue to increase strongly, resulting in annual growth of 12.5% for the solutions segment in 2022. Based on software the market for standalone software is anticipated to grow at a rate of 10.5% CAGR, accounting for a market share of 55.3% in 2031. Schedulers, dealers, encrypted messaging, and other patient engagement initiatives are examples of independent software. Advanced patient engagement software is being adopted more frequently to enhance real-time patient monitoring, appointment scheduling, and data exchange, among others. Based on Components, home healthcare management is expected to grow at a high CAGR of 16.5% during the forecast periods. It is anticipated to grow strongly as this program enables patients to keep up with online bill payments, keep appointments on the calendar, and connect with medical and clinical specialists from their homes.

Patient Engagement Solutions Market Regional Insights:

North America held the greatest revenue share of 35.0% in 2022 because of the presence of important players, rising Health and EHR adoption rates, and rising investments in patient engagement software by the main corporation. Additionally, it is anticipated that the market is accelerated by rising awareness levels and government spending in the healthcare industry. In 2022, Europe had the second-largest proportion because of publicly supported systems like the National Health Services (NHS) in the U.K. For example, the NHS had a goal of eliminating paper by 2020 and started giving patients access to EHRs in 2018. During the forecast period, the Asia Pacific market is anticipated to grow at a profitable rate of 18.8%. A huge patient population, rising healthcare infrastructure and, care quality, increasing smartphones and internet usage, and the existence of local companies are the major drivers that are expected to provide the market with profitable growth during the forecast period. The growth of this region is being aided by the economic progress of nations like China and India. The objective of the report is to present a comprehensive analysis of the global Patient Engagement Solutions Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Patient Engagement Solutions Market dynamic, and structure by analyzing the market segments and projecting the Patient Engagement Solutions Market size. Clear representation of competitive analysis of key players by Design, price, financial position, Delivery Type portfolio, growth strategies, and regional presence in the Patient Engagement Solutions Market make the report investor’s guide.

Patient Engagement Solutions Market Scope: Inquire before buying

Global Patient Engagement Solutions Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US$ 17.30 Bn.
Forecast Period 2023 to 2029 CAGR: 10% Market Size in 2029: US$ 33.71 Bn.
Segments Covered: by Delivery Type Web & Cloud-based On-premise
by Application Health Management Social Management Home Healthcare Management Financial Health Management Others
by Component Software Services
by End-User Payers Provider Other

Patient Engagement Solutions Market by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Patient Engagement Solutions Market Key Players:

1. IBM (US) 2. McKesson Corporation (US) 3. Allscripts (US) 4. Cerner Corporation (US) 5. Epic Systems Corporation (US) 6. Orion Health (New Zealand) 7. GetWellNetwork (US) 8. Oneview Healthcare (Ireland) 9. Meditech (US) 10. Cognizant (US) 11. Symphony Care (US) 12. Harris Healthcare (US) 13. Get Real Health (US) 14. Kareo (US) Frequently asked questions: 1. What is the market growth of the Patient Engagement Solutions Market? Ans. The Patient Engagement Solutions Market was valued at USD 17.30 Billion in 2022 and is expected to reach USD 33.71 Billion by 2029, at a CAGR of 10% during the forecast period. 2. Which are the major key players in the Patient Engagement Solutions Market? Ans. The key players in this market include IBM, McKesson Corporation, Allscripts, Cerner Corporation, and Epic Systems Corporation. 3. Which region is anticipated to account for the largest market share? Ans. North America is anticipated to dominate the Patient Engagement Solutions Market, 4. what is the forecast period for the Patient Engagement Solutions Market? Ans. The forecast period for the Patient Engagement Solutions Market is from 2023 to 2029. 5. what is the segment in which the Patient Engagement Solutions Market is divided? Ans. The Patient Engagement Solutions Market is fragmented based on Delivery Type, Application, Component, and End-Users. It is also divided on basis of different regions.
1. Global Patient Engagement Solutions Market Size: Research Methodology 2. Global Patient Engagement Solutions Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Patient Engagement Solutions Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Patient Engagement Solutions Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • The Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Patient Engagement Solutions Market Size Segmentation 4.1. Global Patient Engagement Solutions Market Size, by Delivery Type (2022-2029) • Web & Cloud-based • On-premise 4.2. Global Patient Engagement Solutions Market Size, by Application (2022-2029) • Health Management • Social Management • Home Healthcare Management • Financial Health Management • Others 4.3. Global Patient Engagement Solutions Market Size, by Component (2022-2029) • Software • Services 4.4. Global Patient Engagement Solutions Market Size, by End-Users (2022-2029) • Payers • Provider • Other 5. North America Patient Engagement Solutions Market (2022-2029) 5.1. North America Patient Engagement Solutions Market Size, by Delivery Type (2022-2029) • Web & Cloud-based • On-premise 5.2. North America Patient Engagement Solutions Market Size, by Application (2022-2029) • Health Management • Social Management • Home Healthcare Management • Financial Health Management • Others 5.3. North America Patient Engagement Solutions Market Size, by Component (2022-2029) • Software • Services 5.4. North America Patient Engagement Solutions Market Size, by End-Users (2022-2029) • Payers • Provider • Other 5.5. North America Patient Engagement Solutions Market, by Country (2022-2029) • The United States • Canada • Mexico 6. European Patient Engagement Solutions Market (2022-2029) 6.1. European Patient Engagement Solutions Market, by Delivery Type (2022-2029) 6.2. European Patient Engagement Solutions Market, by Application (2022-2029) 6.3. European Patient Engagement Solutions Market, by Component (2022-2029) 6.4. European Patient Engagement Solutions Market, by End-Users (2022-2029) 6.5. European Patient Engagement Solutions Market, by Country (2022-2029) • The UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Patient Engagement Solutions Market (2022-2029) 7.1. Asia Pacific Patient Engagement Solutions Market, by Delivery Type (2022-2029) 7.2. Asia Pacific Patient Engagement Solutions Market, by Application (2022-2029) 7.3. Asia Pacific Patient Engagement Solutions Market, by Component (2022-2029) 7.4. Asia Pacific Patient Engagement Solutions Market, by End-Users (2022-2029) 7.5. Asia Pacific Patient Engagement Solutions Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASIAN • Rest Of APAC 8. The Middle East and Africa Patient Engagement Solutions Market (2022-2029) 8.1. The Middle East and Africa Patient Engagement Solutions Market, by Delivery Type (2022-2029) 8.2. The Middle East and Africa Patient Engagement Solutions Market, by Application (2022-2029) 8.3. The Middle East and Africa Patient Engagement Solutions Market, by Component (2022-2029) 8.4. The Middle East and Africa Patient Engagement Solutions Market, by End-Users (2022-2029) 8.5. The Middle East and Africa Patient Engagement Solutions Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Patient Engagement Solutions Market (2022-2029) 9.1. Latin America Patient Engagement Solutions Market, by Delivery Type (2022-2029) 9.2. Latin America Patient Engagement Solutions Market, by Application (2022-2029) 9.3. Latin America Patient Engagement Solutions Market, by Component (2022-2029) 9.4. Latin America Patient Engagement Solutions Market, by End-Users (2022-2029) 9.5. Latin America Patient Engagement Solutions Market, by Country (2022-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. IBM 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. McKesson Corporation 10.3. Allscripts 10.4. Cerner Corporation 10.5. Epic Systems Corporation 10.6. Orion Health 10.7. GetWellNetwork 10.8. Oneview Healthcare 10.9. Meditech 10.10. Cognizant 10.11. Symphony Care 10.12. Harris Healthcare 10.13. Get Real Health 10.14. Kareo
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