Patient Engagement Solutions Market

Market Overview 2023-2028:

The global patient engagement solutions market size reached US$ 30.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 79.5 Billion by 2028, exhibiting a growth rate (CAGR) of 16.5% during 2023-2028. The increasing healthcare expenditure, the rising prevalence of chronic diseases, and the growing geriatric population are some of the key factors driving the market.

Patient engagement involves the active participation of patients in their healthcare. It entails offering patients more control over their health and increasing their participation in healthcare decision-making. Digital tools and technology known as patient engagement solutions allow patients to participate more actively in their care. In order to engage patients and enhance their healthcare results, these solutions employ a combination of technology, communication, and education. Additionally, solutions for patient engagement may encompass various forms, including mobile applications, patient portals, telemedicine, wearable technology, and patient education materials. Each of these solutions has its own combination of attributes and advantages that encourage patient involvement in their healthcare. Enabling patients to take charge of their health and improving healthcare outcomes are two major goals of patient engagement solutions. They assist patients in making better healthcare decisions by utilizing technology and education, which could enhance their quality of life and overall health.

Patient Engagement Solutions Market Trends:

The growing healthcare expenditure majorly drives the global market. Coupled with the rising prevalence of chronic diseases, such as diabetes, heart disease, and cancer, patient engagement solutions provide patients with the resources to manage their conditions and decrease the incidence of complications and hospitalizations, which is acting a major driving factor. Along with this, the growing geriatric population is significantly supporting the market as they tend to have more chronic conditions that require ongoing management. In addition, the widespread adoption of smartphones to access health information, schedule appointments, and communicate with healthcare providers is positively influencing the market. Moreover, the widespread integration of electronic health records (EHRs) as a tool for healthcare providers to efficiently manage patient data is acting as another growth-inducing factor. Additionally, the integration of patient engagement solutions that integrate with EHRs, provides patients with access to their health records, thereby contributing to the growth of the market. Furthermore, the advent of patient engagement solutions that leverage artificial intelligence (AI) to analyze patient data to provide personalized recommendations for treatment and preventative care is creating a positive market outlook. Some of the other factors driving the market include continual improvements in the healthcare sector and favorable government regulations.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global patient engagement solutions market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on therapeutic area, application, component, delivery type and end user.

Therapeutic Area Insights:

• Chronic Diseases
  • Obesity
  • Diabetes
  • Cardiovascular
  • Others
• Fitness
• Women's Health
• Mental Health
• Others
   

The report has provided a detailed breakup and analysis of the patient engagement solutions market based on the therapeutic area. This includes chronic diseases (obesity, diabetes, cardiovascular, others), fitness, women's health, mental health, and others. According to the report, chronic diseases accounted for the largest market share.

Application Insights:

• Social Management
• Health Management
• Home Healthcare Management
• Financial Health Management
   

A detailed breakup and analysis of the patient engagement solutions market based on the application have also been provided in the report. This includes social management, health management, home healthcare management, and financial health management. According to the report, health management exhibits a clear dominance in the market.

End User Insights:

• Payers
• Providers
• Others
   

The report has provided a detailed breakup and analysis of the patient engagement solutions market based on the end user. This includes payers, providers, and others. According to the report, providers hold the leading position in the market.

Component Insights:

• Software
• Services
• Hardware
   

The report has provided a detailed breakup and analysis of the patient engagement solutions market based on the component. This includes software, services, and hardware. According to the report, software represented the largest segment. 

Delivery Type Insights:

• Web-based/Cloud-based
• On-premises
   

A detailed breakup and analysis of the patient engagement solutions market based on the delivery type have also been provided in the report. This includes web-based/cloud-based and on-premises. According to the report, web-based/cloud-based represented the largest segment. 

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (United States, Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others); Latin America (Brazil, Mexico, Others); and the Middle East and Africa. According to the report, North America was the largest market for the patient engagement solutions. Some of the factors driving North America patient engagement solutions market included continual improvements in the healthcare infrastructure, favorable government regulations, rapid technological advancements, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global patient engagement solutions market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered are AdvancedMD (Global Payments Inc.), Allscripts Healthcare Solutions Inc., Athenahealth Inc., Cerner Corporation, EMMI Solutions LLC (Wolters Kluwer N.V.), Epic Systems Corporation, GetWellNetwork Inc., Lincor Solutions Limited, McKesson Corporation, Medecision Inc. (Health Care Service Corporation), Orion Health Ltd. and Phytel Inc. (International Business Machines Corporation). Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the patient engagement solutions market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global patient engagement solutions market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the patient engagement solutions industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.