Global Patient Engagement Solutions Market Size is projected to reach US$ 19 Bn by 2025 at a CAGR of 9%
Noida, Uttar Pradesh, India, March 11 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Executing government regulations and initiatives to promote patient-centric care, increasing demand for patient engagement solutions, and growing mobile health apps’ increasing utilization are the primary factors for its growth. The market is also majorly driven by the growing electronic health records used for patient-centric care and mobile health device adoption. According to the NHS Patient Survey Programme in 2019, approximately 92% feel assured in self-managing treatment. Moreover, programs similar to this are more likely to help operational effectiveness, cost evaluation, and clinical outcomes.
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Although the factors such as the growing chronic disease cases and a rise in the geriatric population have led to patient engagement solutions adoption globally. For instance, as per the American Diabetes Association (ADA) 2020, there were 1.5 million new cases of diabetes in the US per year. In response to the growing diabetic patient cases, the players are focusing on developing patient-centric engagement solutions. For instance, in December 2020, Roche introduced a digital platform to personalize diabetes management in Thailand. Following these promising developments, the Global Patient Engagement Solutions Market is estimated to see healthy growth, pegged at a CAGR of around 9% throughout the forecast period 2020-2025.
COVID-19 effect on the patient engagement solutions market
COVID-19 outburst has impacted the medical practices of all sizes are under immense pressure, and healthcare facilities worldwide have been overwhelmed by the large number of patients visiting them daily. The rising coronavirus disease prevalence has also driven the demand for treatment devices and accurate diagnosis in various developed and developing countries worldwide. The COVID-19 pandemic has also enlarged the social distancing need among patients and physicians, driving the remote patient monitoring and telehealth solutions demand. As well as rising the need for the accurate and appropriate exchange of patient health records. Various companies have introduced and developed COVID-19 related features into existing patient engagement solutions, made available widely across the globe. This is leading to enhanced patient engagement solutions adoption in the current time.
Execution of government regulations and initiatives to promote patient-centric care
Governments across the globe are implementing various regulations and initiatives to encourage the adoption of patient engagement solutions. For instance, in 2020, EU Health Ministers signed a declaration to collaborate and set up an eHealth common area to allow for the free movement of electronic health records across Europe. The declaration also calls for eHealth to be made an integral part of the Europe 2020 strategy. In the US, the Patient Protection and Affordable Care Act (PPACA) or Affordable Care Act (ACA) PPACA, signed in March 2010, has resulted in the increasing number of stakeholders subscribing to patient engagement solutions. Improved reimbursement laws in emerging countries to drive market growth.
Segmentation Overview of the Global patient engagement solutions Market
The patient engagement solutions market is segmented based on Type, Ion Channel, and Application. These major market segments are further categorized into various sub-segments to study the market in detail.
By Component Outlook (Hardware, Software, Services)
By Delivery Mode Outlook (On-Premise, Cloud Based)
By Application Outlook (Health Management, Home Health Management, Social and Behavioural Management, Financial Health Management)
By End User Outlook (Providers, Payers, Patients, Others)
By Therapeutic Area Outlook (Chronic Diseases, Women’s Health, Fitness, Others)
Key Players Insights
Allscripts Healthcare Solutions, Orion Health Ltd., McKesson Corporation, Phytel Inc., Medecision Inc., GetWellNetwork Inc., Cerner Corporation, Lincor Solutions Ltd., YourCareUniverse Inc., and Athenahealth, Inc., among others, are some significant players included in the research study of the global patient engagement solutions market.
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