Patient Engagement Solutions Market by Component (Hardware, Software & Services), Delivery mode (On-Premise, Web & Cloud), End User (Provider & Payer), Applications (Home Health, Financial Health), Therapeutic Area - Global Forecast to 2020
Factors such as government regulations and initiatives, growing popularity of patient engagement solutions among the aging population, significant investments by stakeholders, and rising number of collaborations and partnerships between vendors and end users are some of the factors driving the growth of the patient engagement solutions market. Patient engagement solutions are gaining popularity across the globe; the use of health information technologies and online resources in healthcare boosts care quality by improving care access, efficiency, chronic disease management, and patient & family involvement. Patient engagement solutions offer various features that enhance patient-provider communication and involve patients in their own care. The benefits of patient engagement solutions have fueled their adoption globally. However, reluctance among providers towards the adoption of patient engagement solutions, requirement of infrastructural investments, and lack of interoperability are some of the factors expected to restrain the growth of this market. On the other hand, emerging economies in the Asian region, growing medical tourism, and growing use of cloud-based models offer growth opportunities for players in the market.
The software component segment is estimated to account for the largest share of the global patient engagement solutions market in 2015. Software is a non-tangible component used as an application to run a system or to perform primary tasks, which include maintaining patient records, analyzing databases, and performing administrative tasks in any healthcare organization or hospital.
Geographically, North America is expected to account for the largest share of the global patient engagement solutions market in 2015, followed by Europe, Asia, and the Rest of the World (RoW). The large share of North American is attributed to the federal mandates in the U.S., rising number of ACOs as end users for patient engagement solutions, rising aging population in the U.S, Canada’s efforts to enhance healthcare delivery, and digital health measures in Canada.
Major players in the market are focusing on various strategies, such as product deployments; agreements, alliances, collaborations, and partnerships; new product launches (including product enhancements); acquisitions; expansions; and other strategies (divestment, funding, and product integration), to establish a strong foothold in the global patient engagement solutions market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the solutions offered by top players in the patient engagement solutions market. The report analyzes the patient engagement solutions market, by component, delivery mode, end user, application, and therapeutic area
Product Development/Innovation: Detailed insights on research and development activities and new product launches in the patient engagement solutions market
Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the patient engagement solutions market across regions
Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the patient engagement solutions market
Competitive Assessment: In-depth assessment of strategies, products, and distribution networks of the leading players in the patient engagement solutions market