Global Patient Engagement Solutions Market Size study, by End User (Providers, Payers, Patients), by Component (Hardware, Software, Services), by Deployment Mode (On-premise, Cloud), by Functionality (Communication, Health Tracking and Insights, Billing a

Global Patient Engagement Solutions Market Size study, by End User (Providers, Payers, Patients), by Component (Hardware, Software, Services), by Deployment Mode (On-premise, Cloud), by Functionality (Communication, Health Tracking and Insights, Billing and Payments, Administrative, Others), and Regional Forecasts 2022-2032

Global Patient Engagement Solutions Market is valued approximately at USD 18.96 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 11.5% over the forecast period 2024-2032. Patient engagement solutions play a crucial role in empowering patients to actively participate in their healthcare journey, fostering better patient outcomes and experiences. These software and digital platforms enable patients to access their medical information, schedule appointments, and communicate with healthcare providers, thereby allowing remote patient monitoring and encouraging shared decision-making. A study by Accenture highlighted that 60% of patients are ready to use digital solutions to manage health conditions and communicate with healthcare professionals. The convenience and accessibility of virtual tools make them an essential lifeline for healthcare professionals and patients alike.

The global patient engagement solutions market has experienced significant growth, primarily driven by increased awareness regarding mobile health among the populace. The proliferation of smartphone devices across various sectors and among individuals has directly influenced the growth of the global patient engagement solutions market. Customers are increasingly using their mobile phones for health monitoring, purchasing through mobile applications, or mobile-optimized websites. Consequently, patient engagement solutions have gained significant traction to enhance the use of IT and control systems among healthcare operators, particularly through smartphone usage and other digital technologies. Furthermore, the growing emphasis on electronic health record (EHR) reports has fueled the adoption of patient monitoring solutions.

The major challenge for the growth of the global patient engagement solutions market lies in the high implementation and maintenance costs. Initial expenses related to purchasing the program, setting up infrastructure, and integrating it into existing healthcare systems can be significant. Additionally, patient engagement solutions often come with licensing or membership fees, which can be recurring expenses. These high upfront costs have restrained the adoption of patient engagement solutions globally. Moreover, the integration of highly sophisticated technologies and components to provide efficient, reliable, and safe services comes with high costs, posing another challenge.

Integration complexities of patient engagement solutions with existing healthcare infrastructure components are key constraints for the market's growth. Organizations frequently utilize a range of apps and software using various technologies, making the integration process complex and challenging. Additionally, data residency and jurisdictional requirements raise concerns when data is stored and processed in different geographic locations, further hindering market growth.

The key regions considered for the global patient engagement solutions market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America held the largest market share in 2023, driven by the presence of major players such as Oracle Corporation and IBM Corporation. Government initiatives aimed at strengthening healthcare infrastructure across the region and supportive government initiatives. In contrast, the Asia-Pacific region is expected to grow at the fastest rate over the forecast period. The increased penetration of digitalization and higher adoption of advanced technology in this region is expected to provide lucrative growth opportunities for the market.

Major market players included in this report are:

Oracle Corporation

IBM Corporation

EPIC Systems Corporation

Athenahealth

McKesson Corporation

GetWellNetwork, Inc.

Allscripts Healthcare Solutions, Inc. (Veradigm LLC)

Lumeon Inc.

IQVIA Inc.

Aetna Inc.

Philips Healthcare

Cerner Corporation

GE Healthcare

Medtronic

Siemens Healthineers

The detailed segments and sub-segment of the market are explained below:

By End User:
• Providers
• Payers
• Patients

By Component:
• Hardware
• Software
• Services

By Deployment Mode:
• On-premise
• Cloud

By Functionality:
• Communication
• Health Tracking and Insights
• Billing and Payments
• Administrative
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico
• RoLA

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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