Patient Engagement Solutions Market Size, Share & Trends Analysis 2022-2030
Patient Engagement Solutions Industry Overview
The global patient engagement solutions market size was valued at USD 16.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030. Growing technological developments, adoption of EHR and mhealth solutions, the prevalence of chronic diseases, supportive initiatives by key market stakeholders, and consumerism in healthcare are some of the key drivers of this market. As per a 2021 survey by NextGen Healthcare,83% of ambulatory healthcare survey respondents believed that patient engagement solutions played a key role in organizational financial success and patient outcomes. The survey also indicated that the COVID-19 pandemic fueled the market growth.
The COVID-19 pandemic has made unprecedented consequences on daily lives in addition to the worldwide economy. A significant burden is formed on healthcare systems across the globe. Providers, payers, and life science companies began looking for solutions to increase engagement with patients in various settings such as remote home monitoring, virtual consultations, and clinical trials. The pandemic and the resulting movement restrictions propelled the need to facilitate virtual communication between customers and their care providers. This led to a surge in demand for patient engagement solutions during 2020. This growth, however, was observed to have dampened during 2021 and the market is anticipated to grow notably at a steady rate over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Patient Engagement Solutions market
The COVID-19 outbreak has encouraged innovations in patient monitoring and cloud computing. For instance, in April 2020, GE Healthcare announced an innovative cloud-based remote-monitoring tool intended to assist clinicians to look after ventilated COVID-19 patients. The growing number of smartphone users around the globe expedited the adoption of mHealth across the sector both from providers and consumers. Healthcare apps are rising and they are easy to download on smartphones. These apps can be connected with wearable devices and they support the users in overall health management, which, in turn, has augmented the dependability of patients on mHealth apps. Hence, the COVID-19 pandemic is anticipated to play a substantial role in digital transformation.
Favorable government initiatives are likely to impact the market growth in the coming years. For instance, in 2018, the FDA established the Patient and Caregiver Connection program. The program was aimed to foster engagement with patients, patient advocates, and caregivers all through the evaluation and surveillance of the treatment. Furthermore, the adoption of these solutions in developing countries like India is supported by favorable government initiatives. For instance, in March 2019, Columbia Asia Hospitals situated across Malaysia, India, Indonesia, and Vietnam launched a patient engagement application suite in collaboration with MphRx. This program is aimed to digitally transform healthcare services, enhance patient engagement, and lead to clinical excellence.
Factors such as the growing burden of chronic diseases and a rise in the geriatric population have led to the adoption of patient engagement solutions worldwide. For instance, as per the American Diabetes Association 2020, there were 1.5 million new cases of diabetes in the U.S. annually. In response to the growing number of diabetic patients, companies are focusing on the development of patient-centric engagement solutions.
For instance, in December 2020, Roche released a digital platform to personalize diabetes management in Thailand. In Thailand, there are 4.3 million individuals with diabetes, out of which half are analyzed, and from those analyzed and treated, only a third are attaining their treatment targets. Roche Diabetes Care's digital platform collects and holds all patient-related health data and it facilitates communication between patients and their healthcare team. Moreover, programs like these help in cost evaluation, operational effectiveness, and clinical outcomes.
Browse through Grand View Research's Healthcare IT Industry Research Reports.
- Laboratory Information Management System Market -The global laboratory information management system market size was valued at USD 1.85 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030.
- Digital Pathology Market - The global digital pathology market size was valued at USD 926.9 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.
Patient Engagement Solutions Market Segmentation
Grand View Research has segmented the global patient engagement solutions market on the basis of delivery type, component, functionality, therapeutic area, application, end user, and region:
Patient Engagement Solutions Delivery Type Outlook (Revenue, USD Million, 2017 - 2030)
- Web & Cloud-based
- On-premise
Patient Engagement Solutions Component Outlook (Revenue, USD Million, 2017 - 2030)
- Software & Hardware
- Standalone
- Integrated
- Hardware
- Services
- Consulting
- Implementation & Training
- Support & Maintenance
- Others
Patient Engagement Solutions Functionality Outlook (Revenue, USD Million, 2017 - 2030)
- Communication
- Health Tracking & Insights
- Billing & Payments
- Administrative
- Patient Education
- Others
Patient Engagement Solutions Therapeutic Area Outlook (Revenue, USD Million, 2017 - 2030)
- Health & Wellness
- Chronic Disease Management
- Others
Patient Engagement Solutions Application Outlook (Revenue, USD Million, 2017 - 2030)
- Population Health Management
- Outpatient Health Management
- In-patient Health Management
- Others
Patient Engagement Solutions End-user Outlook (Revenue, USD Million, 2017 - 2030)
- Payers
- Providers
- Others
Patient Engagement Solutions Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- September 2019: GetWellNetwork and Cerner partnered to narrow the gaps between providers and patients from inpatient to outpatient settings and the home. This partnership was aimed at providing convenient access and consumer engagement.
Key Companies profiled:
Some prominent players in the global patient engagement solutions market include:
- Allscripts Healthcare, LLC
- Orion Health
- Cerner Corporation
- McKesson Corporation
- athenahealth, Inc.
- IBM
- Medecision
- GetWellNetwork, Inc.
- MEDHOST
- Lincor
- IQVIA
- Wolters Kluwer N.V.
- Force Therapeutics LLC
- Quil
- Greenway Health, LLC
- Mytonomy
- Klara Technologies, Inc.
- Solutionreach, Inc.
- CureMD Healthcare
- Patient point LLC
- Vivify Health
- Nuance Communications, Inc.
Order a free sample PDF of the Patient Engagement Solutions Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment