Patient Engagement Solutions Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2027)
As per the research report, Global Patient Engagement Solutions Market is expected to reach US$ 47 Billion by the year 2027 expanding at a CAGR of 16.2% during the forecast period (2021-2027). Patient engagement solutions is concentrated on providers and patients working together to enhance healthcare service offerings. Patients want to be engaged in their healthcare decision-making procedure better results. For instance, Healthcare Information and Management Systems Society (HIMSS) equips healthcare providers to digitally connect with patients and families through patient portal acceptance, secure messaging, social media, and other emerging technologies. In 2019, participants came from 46 states and 34 countries come together. The virtual patient visits keep the promise of enhancing access to care and at the same time starting communication channels and boosting the doctor-patient relationship. For instance, according to Forbes, in 2020, 91% of consumers stated that telemedicine would help them stick to appointments, manage prescriptions and refills, and follow wellness routines as prescribed by their physicians. In just a short time, telemedicine has gone from a revolutionary healthcare buzzword to a popular form of the doctor visit. As per Amwell a U.S.-based company, before the pandemic in the U.S., only 8% of patients have ever had a virtual doctor’s appointment, but after the pandemic, 66% of consumers said that they were willing to opt for telehealth/telemedicine. The enhancements in telehealth policies and changes to compensation rates have resulted in a 57% increase in treatment, with around 20% of healthcare visits expected to be conducted via telemedicine in 2020.
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Insights Presented in the Report
“Amongst Components, Software segment holds the major share in 2020.”
Based on Components, the global patient engagement solutions market is fragmented into Hardware, Software, and Solution. The Software segment generated the highest revenue in 2020 as the demand of software is increasing owing to the rising adoption of latest technology enabled solutions.
“Cloud-Based delivery was the most preferred patient engagement delivery mode; the segment is anticipated to grow at the highest CAGR during the analyzed period.”
Based on Delivery Mode, the global patient engagement solutions market is fragmented into Cloud-based, On-premises, and Web-Based. The Cloud-Based segment accounted for the major revenue portion in 2020. Companies such as Qualcomm Life Inc., Opzoon Technology Co., Ltd., and Fibocom Wireless Inc. are involved in the sales of wireless and cloud-based technology products used in the healthcare industry.
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“Amongst Applications, Health Management segment holds the major share in 2020.”
Based on Applications, the global patient engagement solutions market is fragmented into Health Management, Home Health Management, Social and Behavioral Health Management, Financial Health Management, Telemedicine, and Others. The Health Management segment accounted for the major revenue portion in 2020. The sector is anticipated to observe significant growth in the upcoming years as it provides rapid response and improved patient obedience for providing healthcare facilities.
“Patient engagement solutions were majorly used for patient with Chronic Diseases in 2020.”
Based on Therapeutic Area, the global patient engagement solutions market is fragmented into Chronic Diseases, Fitness, Women's Health, and Others. The Chronic Diseases segment is anticipated to observe lucrative growth. As during Chronic conditions, the patients could connect with their healthcare providers from remote locations and allowing them to get the streamlined flow of information, patient feedback, and other health-related data.
“Amongst End-user, the Providers segment holds the major share in 2020.”
Based on End-user, the global patient engagement solutions market is fragmented into Providers, Payers, Patients, and Others. The Providers segment is anticipated to observe lucrative growth. Healthcare service Providers are not only concentrating on growing their infrastructure but also trying to improve it. So, that Patients can get easy access to healthcare facilities in efficient manner.
“North America leads the adoption of Patient engagement solutions in 2020.”
For a better understanding of the market dynamics and adoption of patient engagement solutions, a detailed analysis was conducted for different regions including North America (US, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World.
Medtronic, Allscripts Healthcare LLC, McKesson Corporation, IBM, Athena Health, Orion Health, Cerner Corporation, Harris Healthcare, OneView Healthcare, and Curemd Healthcare are some of the prominent players operating in the global Patient Engagement Solution market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Patient Engagement Solutions Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.