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.
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- Electronic Health Records Market – The global electronic health records market size was estimated at USD 27.2 billion in 2021 and it is anticipated to expand at a CAGR of 4.0% from 2022 to 2030. Government initiatives to encourage healthcare IT usage is the key driver to this market. For instance, My Health Record is a national digital health record platform in Australia. Every Australian citizen has a “My Health Record” unless they have chosen that they don’t want it.
- U.S. Patient Engagement Solutions Market – The U.S. patient engagement solutions market size was valued at USD 4.41 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.6% from 2021 to 2028. Growing adoption of digital health technologies, supportive government initiatives, the prevalence of chronic diseases, and investments by stakeholders are some of the key growth drivers of this market.
Patient Engagement Solutions Market Segmentation
Grand View Research has segmented the global patient engagement solutions market report 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
- Services
- Consulting
- Implementation & Training
- Support & Maintenance
- Others
- Software & Hardware
- 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
- 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.
- May 2020: Microsoft launched its first sector-specific cloud i.e., Microsoft Cloud for Healthcare. The platform is intended to aid providers to advance patient engagement and association among health teams with features such as telehealth and data analytics.
Key Companies profiled:
Some prominent players in the global patient engagement solutions market include:
- 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.
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