Patient Engagement Solution Market will Grow At CAGR Of 21% During Years 2031, Fact.MR Report
The Fact.MR new report on the market survey of Patient Engagement Solutions gives estimations of the Size of Patient Engagement Solutions Market and the overall share of key regional segments
The latest market research report analyzes Patient Engagement Solutions Market demand by segments. Providing business leaders with insights On Patient Engagement Solutions Market And how they can increase their market share.
Key Highlights- The global patient engagement solution market is anticipated to top a valuation of US$ 25 Bn by 2021, and expand at an impressive CAGR of around 21% over the forecast period of 2021 to 2031.
The market has been progressing at rapid pace over past few years. The key reason behind the market growth has been the continuously rising chronic disease.
In response to growing number of diseases like diabetes, cancer and other chronic diseases, information & technology companies have started developing patient engagement solutions for hospitals and healthcare sector.
Apollo Hospital in India has digital platform for patients and doctors to maintain proper record of data and files. It also helps patients to connect with doctor in emergency situations. Moreover, patients can directly chat with doctors regarding their health issues, without waiting in queue.
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Apart from its various advantages, patient engagement solution also helps the government and healthcare sector to track down patient details and their conditions, which helps them to understand current situation and previous situation.
Foremost objective of the report by Fact.MR on this market is to pitch insights on the purchase growth scenario, demand generators, and development strategies in this space. The report provides a taxonomy elaborating on key segments.
The report also outlines visionary insights on the market dynamics, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key success factors. Demand trends have been tracked in 15+ high-growth countries, pointing towards countries in North America holding bulk of the share.
The Market insights of Patient Engagement Solutions will improve the revenue impact of businesses in various industries by:
- Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Patient Engagement Solutions Market
- Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Patient Engagement Solutions market and offers solutions
- Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
- Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
- Helping leading companies make strategy recalibrations ahead of their competitors and peers
- Offers insights into promising synergies for top players aiming to retain their leadership position in the market & supply side analysis of Patient Engagement Solutions market .
The latest industry analysis on Patient Engagement Solutions provides sales outlook in 20+ countries, across key categories. Insights on Patient Engagement Solutions market drivers, trends, and influencing factors are also included in the study.
We leverage space-age industrial and digitalization tools to provide avant-garde actionable Patient Engagement Solutions Market insights to our clients. For enhancing readers’ experience, the report starts with a basic overview of the Patient Engagement Solutions Market and its classification.
Key Segments Covered
- By Software Type
- Standalone Patient Engagement Solutions
- Integrated Patient Engagement Solutions
- By Deployment
- Web- / Cloud-based Patient Engagement Solutions
- On-premise Patient Engagement Solutions
- By Application
- Patient Engagement Solutions for Social Management
- Patient Engagement Solutions for Health Management
- Patient Engagement Solutions for Home Healthcare Management
- Patient Engagement Solutions for Financial Health Management
- By End User
- Patient Engagement Solutions for Payers
- Patient Engagement Solutions for Providers
- Patient Engagement Solutions for Individual Users
- By Region
- North America
- Latin America
- East Asia
- South Asia
Historically from 2016 to 2020, demand of patient engagement solution increased at around 24% CAGR, and the key factor assisting this growth is its advantages over traditional record keeping and telephonic consultation on health problems as patient engagement do not need much time to approach doctor and previous data, as these data were already stored in server for patient and doctor’s purpose.
The market of patient engagement solution is forecasted to expand at the CAGR of nearly 21% over the coming years (2021 – 2031). Major reason influencing the market growth is growing demand for maintaining records of patient and provide fast treatment to patient in less time.
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Which Region Offers Larger Opportunity for Patient Engagement Solution Providers?
Major market of patient engagement solution has been observed in North America. North America accounts for over 36% of global share of the patient engagement solution market in 2020. The region is expected to offer over US$ 47 Bn absolute dollar opportunity in the forecast period (2021 – 2031).
The key reason for the highest market share is it highly developed health sector. Apart from this, North America also leads in adaptation of mobile health, and has been continuously growing investment in its patient health management system.
This report gives you access to decisive data such as:
- Demand of Patient Engagement Solutions Market & Growth drivers
- Factors limiting Patient Engagement Solutions market growth
- Current key trends of Patient Engagement Solutions Market
- Market Size of Patient Engagement Solutions and Patient Engagement Solutions Market Sales projections for the coming years
Key Question answered in the Survey of Patient Engagement Solutions market Report By Fact.MR :
- Patient Engagement Solutions Market Company & brand share analysis: Company and brand share analysis on Patient Engagement Solutions reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players
- Patient Engagement Solutions Market Machinery Historical volume analysis: The industry analysis provides data & insights on historical volume sales of Patient Engagement Solutions Market
- Patient Engagement Solutions Category & segment level analysis: Fact.MR’s Patient Engagement Solutions market sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
- Patient Engagement Solutions market Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
- Post COVID consumer spending on Patient Engagement Solutions market: The report includes post COVID consumer spending analysis. Thisinformation will help business leads understand the shifts in purchasing power and behavior
- Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments
- Patient Engagement Solutions market Merger and acquisition activity: MR’s analysis also includes merger & acquisition activity analysis. Patient Engagement Solutions market manufacturers and stakeholders will not only know the recent M&As but also understand its impact on competitive landscape and market share
- Patient Engagement Solutions Market demand by country: The report forecasts Patient Engagement Solutions Market demand by country, giving business leaders the insights to know fast-growing, stable, and mature markets
The report also offers key trends of Patient Engagement Solutions market and an in-depth analysis of how the projected growth factors will shape the Patient Engagement Solutions market dynamics in the coming years of the forecast period.
Moreover, it also gives meaningful as well as actionable insights on the competitive analysis of Patient Engagement Solutions Market that are developing the current market scenario and which will be lucrative for the future demand of Patient Engagement Solutions Market .
How Has COVID-19 Aided Demand for Patient Engagement Solutions?
With the implementation of lockdown at global level response to covid-19 pandemic, industries are badly affected globally, due to the halt in business activities by government to prevent spread on covid-19 virus. Government across the world started expanding huge amount of budget in health sector to overcome from covid-19 pandemic.
In turn, huge demand for healthcare online helping portals has observed, due to which it has increased the demand for patient engagement solution. Owning to this, global patient engagement solution market is expected to generate revenue of over US$ 20 Bn in 2020.
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Why are Web / Cloud-based Deployment of Patient Engagement Solutions More Preferred?
In deployment type of patient engagement solution, the market is bifurcated into two segments including web / cloud based deployment and on premises deployment. The web / cloud deployment contributes the highest in deployment of patient engagement solution market with around 70% market share.
The reason for demand of cloud / web based deployment include its real time access to files and other medical documents. Furthermore, it provides direct access to patient and providing remote access to both patients and doctors.
The web / cloud based deployment in patient engagement system market is expected to grow even future in forecasted period (2021 – 2031). Web / cloud in the deployment is anticipated to expand at the CAGR around 22%, while on premises at CAGR of 17%.
Crucial insights in Patient Engagement Solutions market research report :
- Underlying macro- and microeconomic factors impacting the Sales of Patient Engagement Solutions market.
- Basic overview of the Patient Engagement Solutions, including market definition, classification, and applications.
- Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend And supply side analysis of Patient Engagement Solutions across various industries.
- Important regions and countries offering lucrative opportunities to market stakeholders.
Leading Companies Profiled in the Patient Engagement Solutions Market are:
Fact.MR has profiled the following key patient engagement solution providers in its report:
- Allscripts Healthcare Solutions
- McKesson Corporation
- Orion Health Ltd.
- Cerner Corporation
- Phytel Inc.
- Medecision Inc.
- GetWellNetwork Inc.
- YourCareUniverse Inc.
- Lincor Solutions Ltd.
- Athenahealth, Inc.
Majority of the companies discussed in the report have focusing on investing to expand their business, doing R&D to make better user friendly interfaces; besides they are also focusing on mergers and acquisitions. Some of the key developments are:
- In September 2019, GetWellNetwork and Cerner signed a deal for a partnership to cut down the gap between hospitals and patients for both outpatient and inpatient. This will help the patient to access the real time data and it will also increase customer engagement with the hospital.
- In April 2021, Orion Health, a leading provider of population health management solutions has signed a deal with SYNCRONYS to exchange data with each other. Together, SYNCRONYS and Orion Health will break down data-sharing barriers, increase interoperability, and enhance the functionality, data sets, reach, and overall value of the health information exchange.
- In January 2021 – Orion Health announced its collaboration with Amazon Web Services (AWS) to deploy Amazon HealthLake, a HIPAA (Health Insurance Portability and Accountability), and run machine learning to derive meaningful value from the newly normalized data. Amazon HealthLake will provide a complete view of patient and population health, derive insights using analytics and machine learning, and discover previously obscured relationships and trends.
To provide decision-makers with credible insights on their competitive landscape, the Patient Engagement Solutions Market industry research report includes detailed competitive landscape analysis.
The competitive landscape analysis for Patient Engagement Solutions Market includes detailed profiles of Tier 1, Tier 2, and Tier 3 players.
The respective market share of Patient Engagement Solutions manufacturers is provided so business leaders can understand the market scenario.
An assessment on the winning strategies of key Patient Engagement Solutions Market manufacturers is provided, with recommendation on what works well in Patient Engagement Solutions Market landscape.
Benefits of Fact.MR Research Study :
Fact.MR has gradually established itself as one of the leading market research companies across the globe.
Our unique, methodical, and up-to-date approach towards creating high-quality Research reports And ensures the reports include relevant Patient Engagement Solutions market insights. Further, our team of analysts leaves no stone unturned while curating Market outlook of Patient Engagement Solutions reports in accord with the requirement of our clients.
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