WASHINGTON, Nov. 17, 2022 (GLOBE NEWSWIRE) -- The global Patient Engagement Solutions Market was valued at $16.1 Billion in 2021 and is expected to reach $41.0 Billion by 2028, registering a CAGR of 16.90% during the forecast period of 2022-2028. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Vantage Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Vantage Market research has a newly released expansive study titled Global Patient Engagement Solutions Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Patient Engagement Solutions report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one's rivals. It classifies the global Patient Engagement Solutions market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the Patient Engagement Solutions market and the Patient Engagement Solutions industry as a whole appears to be quite positive during the projection period.
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Patient Engagement Solutions Market Dynamics:
Rising Adoption of EHR and m-Health Solutions to Stimulate Global Patient Engagement Solutions Market
The increasing adoption of EHR and m-Health solutions is anticipated to augment the growth of the Patient Engagement Solutions Market in the years to come. This is attributable to the rising penetration of 3G/4G networks and adoption of smartphones along with increasing utilization of connected devices and m-Health apps for the management of chronic diseases. The m-Health tool is utilized for improving patient engagement since consumers are already aware of so much of the technology which is evolving. From patient portals and fitness trackers to smartphone apps along with home monitoring equipment, mHealth is seen in patients’ everyday lives. Remote patient monitoring and telemedicine are two examples of how m-Health can be used to assist patients receive treatment in a way that is convenient for them, opening doors to care encounters that would otherwise be difficult to reach. Thus, m-Health turns out to be a key factor to improve the patient engagement and hence supporting the growth of the market.
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List of Prominent Players in the Patient Engagement Solutions Market:
- McKesson Corporation
- Allscripts
- IBM
- Advanced MD
- Cerner Corporation
- Epic Systems Corporation
- ResMed
- Koninklijke Philips N.V.
- Klara Technologies Inc.
- CPSI
- Experian Information Solutions Inc.
- Athenahealth Inc.
- Solution reach Inc.
Key Highlights from the Report:
- The service sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The growth of the service segment is attributed to the fact that the service component is essential in the application of organized solutions and which are expected to drive the growth of this segment in the upcoming years.
- The cloud-based sub-segment holds a substantial market share in 2021. The scalability, flexibility, and affordability provided by cloud-based solutions are contributing to the growth of the on-premise segment during the forecast period.
- Asia Pacific is the fastest regional segment. The increasing penetration of the smartphone, and internet users, improving healthcare infrastructure and the care quality, and an increase in the large patient population are the major factors for the growth of the Patient Engagement Solutions Market in the Asia Pacific region during the forecast period. The economic development in emerging countries such as China, and India is contributing to the growth of the Asia Pacific in the coming future.
Segmentation of the Global Patient Engagement Solutions Market:
- Component
- Hardware
- Software
- Services
- Delivery Mode
- On Premise
- Cloud Based
- Application
- Health Management
- Home Health Management
- Social and Behavioural Management
- Financial Health Management
- End User
- Providers
- Payers
- Patients
- Other
- Therapeutic Area
- Chronic diseases
- Women’s health
- Fitness
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Growing Implementation of Government Regulations to Accelerate Market Growth
The increasing implementation of government regulations and initiatives to promote patient-centric care is anticipated to augment the growth of the Patient Engagement Solutions Market within the estimated period. Various rules and measures are being implemented by governments around the world to encourage the adoption of patient engagement technologies. For example, EU Health Ministers signed a declaration in 2020 to collaborate and establish an e-Health common area that will allow for the free movement of electronic health records throughout Europe. In addition, the declaration demanded for e-Health to be included in the Europe 2020 plan. The Patient Protection and Affordable Care Act (PPACA) or Affordable Care Act (ACA) PPACA, which was signed in March 2010, has caused a growth in the percentage of stakeholders who are willing to subscribe to patient engagement solutions in the United States. Further, market growth will also be aided by improved reimbursement laws in emerging countries.
The report on Patient Engagement Solutions Market highlights:
- Assessment of the Market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Patient Engagement Solutions Market Forecast Report (2022-2028).
Regional Analysis:
North America Dominated the Global Patient Engagement Solutions Market
North America held the largest shares in 2021. This is due to the increasing adoption of technologies such as m-Health and EHR in the region. Furthermore, the market's regional growth is likely to be fuelled by presence of key players along with increasing investment in patient engagement software by the major companies. Additionally, the growing spending on the healthcare sector by the government is also projected to drive the growth of the Patient Engagement Solutions Market in the region.
Recent Developments:
April, 2022: Reverba, a leading global patient engagement company, announced the launch of reverba BRIDGE, a comprehensive digital platform that powers patient engagement solutions for clinical teams in the biopharmaceutical industry.
March, 2022: UST announced the launch of a new digital patient engagement SaaS solution in partnership with Well-Beat, an Israeli start-up adding the human touch to healthcare through behavioral AI.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 16.1 Billion |
| Revenue Forecast by 2028 | USD 41.0 Billion |
| CAGR | 16.90% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | McKesson Corporation, Allscripts, IBM, AdvancedMD, Cerner Corporation, Epic Systems Corporation, ResMed, Koninklijke Philips N.V., Klara Technologies Inc., CPSI, Experian Information Solutions Inc., Athenahealth Inc., Solutionreach Inc. |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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