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Patient Engagement Solutions Market worth $27.9 billion by 2027 – Report by MarketsandMarkets™

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Patient Engagement Solutions Market worth $27.9 billion by 2027 – Report by MarketsandMarkets™

December 07
00:15 2022
Patient Engagement Solutions Market worth $27.9 billion by 2027 - Report by MarketsandMarkets™
In 2021, Humana (US) collaborated with IBM (US) to deploy IBM Watson Assistant for Health Benefits; it is an AI-enabled virtual agent built in the IBM Watson Health Cloud. This agent helps provide a better member experience while providing greater clarity and transparency on benefits and other related matters for Humana Employer Group members.
Browse 150 market data Tables and 30 Figures spread through 211 Pages and in-depth TOC on “Patient Engagement Solutions Market – Global Forecast to 2027

According to the new market research report “Patient Engagement Solutions Market by Component (Software, Services), Delivery (On-Premise, Cloud), Therapy Area (CVD, Diabetes, Obesity, Fitness), Functionality (E-prescribing, Virtual care), End User (Provider, Payer, Patients) – Global Forecast to 2027″, The global patient engagement solutions market is projected to reach USD 27.9 billion by 2027 from USD 17.3 billion in 2022, at a CAGR of 10.0% during the forecast period.

Browse in-depth TOC on “Patient Engagement Solutions Market”

150 – Tables

30 – Figures

211 – Pages

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The growth of this market is driven by the implementation of government regulations to promote patient-centric care and patient engagement, high demand for patient engagement solutions, and the utilization of mobile health apps.

However, inadequate interoperability issues for patient engagement solutions and a crunch of skilled IT professionals in the healthcare industry are expected to restrain the growth of this market during the mentioned forecast period.

On basis of components, the patient engagement solutions market is segmented into software, hardware, and services. The software segment accounted for the largest share of the global patient engagement solutions market in 2021. The software market is further segmented into standalone solutions and integrated solutions. The integrated solutions segment accounted for the larger share of market in 2021 and this segment is also expected to grow at the highest CAGR during the forecast period.

On basis of delivery mode, the patient engagement solutions market is segmented into on-premise and cloud-based solutions. The on-premise solutions segment accounted for the largest share of the global patient engagement solutions market in 2021. But, the cloud-based solutions segment is expected to register the highest CAGR during the forecast period. The technological features offered by cloud-based solutions are supporting its growth in the patient engagement solutions market. Cloud-based solutions help healthcare organizations share and integrate information from different locations or systems in real-time.

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On basis of application, the patient engagement solutions market is segmented into health management, home health management, social and behavioral management, and financial health management.Health management applications segment accounted for the largest share of the global patient engagement solutions market in 2021. The large share of this segment is due to the fact that there is increasing awareness among patients about the complexity of their disease conditions and their willingness to their manage their own health.

On the basis of therapeutic area, the patient engagement solutions market is segmented into chronic diseases, women’s health, fitness, and other therapeutic areas. Chronic diseases segment accounted for the largest share of the global patient engagement solutions market in 2021. The large share of this segment can be attributed to the high burden of chronic diseases icreasing complication in the treatments and the need to effectively manage these conditions while reducing the overall healthcare costs.

On basis of functionality, the patient engagement solutions market is segmented into E-prescribing, virtual consultation, patient/client scheduling, and document management. In 2021, the patient/client scheduling segment accounted for the largest share of the global patient engagement solutions market. The large share of this segment can be attributed to the increased productivity through proper scheduling of appointments and digitization in the healthcare process. The E- Prescribing segment is expected to grow with the highest CAGR during the forecast period

On the basis of end users, the patient engagement solutions market is segmented into providers, payers, patients, and other end users. The providers’ segment accounted for the largest share of the global patient engagement solutions market in 2021. With the development in healthcare infrastructure ,providers are increasingly adopting patient engagement solutions to curtail rising healthcare costs, offer value-based care and patient centric care, and improve revenues. Patient engagement solutions also help providers to improve patient experience, meet the increasing demand for convenient access to health information, and better serve patients to self-manage their care.

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The global patient engagement solutions market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounted for the largest share of the global patient engagement solutions market. Favorable government initiatives , the reduced healthcare costs, the rising prevalence of chronic diseases and geriatric population , key market players operating in the region are the key factors driving the growth of the patient engagement solutions market in North America. The Asia Pacific market is projected to register the highest CAGR during the forecast period, owing to the increasing adoption of HCIT solutions and the growing prevalence of chronic diseases in the region.

Patient Engagement Solutions Market Dynamics

  • Driver: Implementation of government regulations and initiatives to promote patient-centric care
  • Opportunity: Growth opportunities in emerging markets
  • Restraint: Large investment requirements for healthcare infrastructure
  • Challenge: High deployments costs of healthcare IT systems

Prominent players Patient Engagement Solutions Market are:

  • IBM (US),
  • McKesson Corporation (US),
  • Allscripts (US),
  • Cerner Corporation (US),
  • Epic Systems Corporation (US),
  • Orion Health (New Zealand),
  • GetWellNetwork (US),
  • athenahealth (US),
  • Oneview Healthcare (Ireland),
  • MEDITECH (US),
  • IQVIA (US),
  • Get Real Health (US),
  • Cognizant (US),
  • Symphony Care (US),
  • Harris Healthcare (US),
  • Kareo (US),
  • CureMD Healthcare (US),
  • eClinicalWorks (US), and
  • Lincor Solutions (US),
  • AdvancedMD (US),
  • WellStack(US), IQVIA (US),
  • Vivify Health (US),
  • Medhost (US),
  • Validic (US) MEDISYSINC (US), and
  • Patient point LLC (US).

These players are increasingly focusing on new product launches and partnerships to expand their product offerings in the patient engagement solutions market.

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