Patient Engagement Solutions Market To Reach USD 50.9 Billion by 2032 CAGR: 11.1%. Report By DataHorizzon Research

Fort Collins, Colorado, Oct. 03, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Patient Engagement Solutions Market Size, Growth, Share, Statistics Report, By Component (Hardware & Software and Services), By Delivery Type (Cloud Based and On-premise), By Functionality, By Therapeutic Area, By Application, By End-user, By Region Forecasts, 2023-2032."           

According to DataHorizzon Research, The patient engagement solutions market was valued at USD 17.9 Billion in 2022 and is anticipated to reach USD 50.9 Billion by 2032 with a CAGR of 11.1%. The global patient engagement solutions market report offers a comprehensive overview of the overall industry.

The patient engagement solutions enable cost-savings for patients and providers. With patient engagement solutions, healthcare providers are constantly connected with their patients. As a result, patients can manage their health by following preventive measures, thereby minimizing the need for emergency healthcare services and reducing healthcare costs. Furthermore, with correct patient engagement solutions, patients are better involved with their line of treatment and readily accept essential treatment from their care providers.

Additionally, the shifting trend towards value-based healthcare is also promoting market growth. In a value-based healthcare delivery model, hospitals and doctors are paid according to their patient's health outcomes. A value-based approach is different from a service-based approach, as in the former, value is derived from measuring improvement in health status as opposed to the cost of delivering the services in the latter. In addition, patient engagement is emerging as an essential mechanism to account for the increasing responsibility for effective care in value-based healthcare.

The advent of omnichannel patient engagement presents lucrative growth opportunities for various market players. It offers patients a straightforward, unified pathway that enhances their overall experience throughout their healthcare journey. Omnichannel engagement may include multiple tools for patients to communicate with care providers, such as AI chatbots, online appointment scheduling, telehealth using video and voice chats, and online patient education portals, which provide a quality digital experience. Integrating these digital tools with physical channels improves patient, clinician, and caregiver communication. 

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Report Snapshot:

Segmentation Overview:

The global patient engagement solutions market has been segmented as component, delivery type, functionality, therapeutic area, application, end-user, and region. Web & Cloud-based delivery accounted for a significant share in 2022 and is projected to retain a dominant position in the following years.

North America is a leading region for the patient engagement market and is projected to remain dominant in the forthcoming years. An increase in healthcare expenditures and a rise in the geriatric population are major factors boosting the market growth. Asia Pacific is a fast-growing market attributed to the high adoption of wearables in the population and spending on healthcare.

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Patient Engagement Solutions Market Report Highlights:

• The patient engagement solutions market growth is anticipated at a CAGR of 11.1% by 2032.

• The rising competition largely drives the patient engagement solutions market among healthcare providers to offer digitized quality treatments to patients.

• The providers dominate the patient engagement market based on end-users due to the ongoing research and development to design digital patient solutions.

• North America is a leading region for the patient engagement market, and the growth is attributed to the rise in the geriatric population in the region and high spending on healthcare tools. Asia Pacific is a fast-growing market for patient engagement solutions owing to the rapid emergence of healthcare startups with novel solutions in the healthcare industry.

• Some prominent players in the patient engagement solutions market report include Allscripts Healthcare, LLC, Orion Health, Emmi Solutions LLC, Cerner Corporation, MEDHOST, McKesson Corporation, Medecision Inc., Athenahealth, Inc., GetWellNetwork, eClinicalWorks, Lincor Solutions, and Meditech.

Key Developments in the Industry:

• In 2023, Tops, an orthodontic practice management software leader, launched Tops DPX, a platform designed to simplify communication in a digital environment.

• In 2023, TeleVox acquired Odez Patient engagement business to amplify the digital solutions for patients. Also, TeleVox launched Iris, which is an AI-enabled virtual assistant for healthcare providers. 

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Patient Engagement Solutions Market Report Segmentation:

Patient Engagement Solutions Market, By Component (2023-2032)

• Hardware & Software
• Services

Patient Engagement Solutions Market, By Delivery Type (2023-2032)

• Cloud-Based
• On-premise

Patient Engagement Solutions Market, By Functionality (2023-2032)

• Communication
• Health Tracking & Insights
• Administrative
• Billing & Payments
• Patient Education
• Others

Patient Engagement Solutions Market, By Therapeutic Area (2023-2032)

• Health & Wellness
• Chronic Disease Management
• Diabetes
• Obesity
• Others

Patient Engagement Solutions Market, By Application (2023-2032)

• Population Health Management
• Outpatient Health Management
• In-Patient Health Management
• Others

Patient Engagement Solutions Market, By End-user (2023-2032)

• Providers
• Payers
• Patients
• Others

Patient Engagement Solutions Market, By Region (2023-2032)

• North America

• • U.S.
  • Canada

• Europe

• • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific

• • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific

• Latin America

• • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa

• • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa 

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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