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Patient Engagement Solutions Market Forecasts to 2028 – Global Analysis By Component (Software & Hardware, Services, Other Components), Delivery Mode (Cloud Based, On Premise and Web Based), Therapeutic Area (Chronic Diseases, Diabetes, Obesity, Cardiova

Publisher Stratistics Market Research Consulting
Published Apr 04, 2023
Length 175 Pages
SKU # SMR17862539

Description

Patient Engagement Solutions Market Forecasts to 2028 – Global Analysis By Component (Software & Hardware, Services, Other Components), Delivery Mode (Cloud Based, On Premise and Web Based), Therapeutic Area (Chronic Diseases, Diabetes, Obesity, Cardiovascular diseases (CVD), Womens Health, Fitness and Other Therapeutic Areas), Funtionality, Application, End User and By Geography

According to Stratistics MRC, the Global Patient Engagement Solutions Market is accounted for $17.3 billion in 2022 and is expected to reach $34.1 billion by 2028 growing at a CAGR of 12.0% during the forecast period. Patient engagement solutions are those that allow patients to communicate with medical practitioners via online portals, resulting in improved communication channels. Technologically advanced patient point of care, such as self-assistance, improved diagnosis, better decision making, healthcare delivery quality, and data management, are fuelling market expansion.

According to the Congressional Research Service report published in July 2021, the United States had an estimated population of 326 million individuals in 2020.

Market Dynamics

Driver:

Increased usage of healthcare information technology and technological developments

The market's growth is being influenced by an increase in the adoption of healthcare IT, as well as technical advancements that aid in the infrequent monitoring of healthcare and the maintenance and storage of data. According to WHO studies, these software services utilised for the collecting of diabetic patients' health history, data, and morbidity rates were expected to reach over 1.2 million in 2012. Furthermore, the primary drivers navigating the market are quick availability of healthcare, cost-effectiveness; easy data collaborating; less complexity of data management through electronic health records, increase in geriatric population, increase in chronic diseases, increased adoption of healthcare IT, and increase in medical tourism are propelling the growth of the market.

Restraint

Large investments are required in healthcare infrastructure

Moving or merging healthcare infrastructure technologies with patient engagement solutions would provide numerous cost issues for these organisations. Payers have previously made significant investments in infrastructure and proprietary systems. It will also necessitate improvements to their current systems, which are designed to manage only their current needs. Furthermore, the transition to cloud-based patient interaction tools will necessitate a change in present IT architecture, particularly in hospitals that already function as hubs for many clinicians, labs, and pharmacists. As a result, finding the resources to enable large-scale interoperability and interconnection may impede such healthcare organisations' shift to cloud-based patient engagement systems which hampers the growth of the market.

Opportunity

Adopting government initiatives

Adoption of government initiatives that promote the implementation of HCIT approaches, increasing governmental spending on health care services, and the availability of proficient IT professionals in emerging Asian countries such as China and India are expected to support the growth of the APAC global market. Technological improvements are critical in modernising the healthcare management sector in the country. China is currently dealing with issues including understaffed rural health centers, overcrowded metropolis hospitals, and a state wide doctor shortage which are providing further opportunities in the market growth.

Threat

Healthcare IT system deployment costs are high.

Software solutions for healthcare IT systems are expensive. These systems maintenance and software upgrade costs may exceed the cost of the software. Support and maintenance services, as well as software upgrades, are recurrent expenses that account for over 30% of total cost of ownership. The healthcare industry's lack of internal skilled IT workers mandates training for end users to boost the efficiency and results of various healthcares IT solutions, consequently increasing the cost of ownership of the systems. Evaluating information systems in healthcare can also be difficult due to the intangible organisational impact and benefits of IT systems in healthcare.

Covid-19 Impact

The COVID-19 epidemic has sparked new developments in patient monitoring and cloud computing. In April 2020, for example, GE Healthcare introduced a novel cloud-based remote-monitoring technology designed to help doctors care for ventilated COVID-19 patients. The expanding global smartphone user base has accelerated the adoption of mHealth across the sector, both from providers and consumers. Healthcare apps are on the rise, and they are simple to install on cellphones. These apps can be linked to wearable devices and assist users in overall health management, which has increased patients' reliance on mHealth apps. As a result, the COVID-19 pandemic is expected to play a significant role in digital transformation.

The software & hardware segment is expected to be the largest during the forecast period

The software & hardware segment is estimated to have a lucrative growth, due to the key component of the solution is patient engagement software and hardware. Because of straightforward user interfaces and ongoing product improvements, it is simple to install, utilize, and retrieve records. Allscripts' FollowMyHealth is a popular mobile-first, configurable, enterprise patient engagement tool. It is used by physicians, hospitals, and health systems to improve care quality and boost patient satisfaction. These include consultation, implementation and training, support and maintenance, and other services like as interoperability and access to EHR data thus propelling the market growth.

The chronic diseases segment is expected to have the highest CAGR during the forecast period

The chronic diseases segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the expanding senior population in important economies, the prevalence of chronic diseases, and the adoption of digital technology accelerated by the COVID-19 pandemic have all contributed to the segment's substantial proportion. Patient engagement solutions aid in chronic disease management by facilitating disease prevention and detection, as well as disease management with a physician or through self-management. This is due to significant company objectives, the expansion of product offerings to include mental health, weight management, and pregnancy, and increased research activities which are encouraging in the growth of the market.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing penetration of the internet and smartphone users, a large patient population, improving healthcare infrastructure and care quality, and the presence of local player. Economic development in countries such as India and China is also supporting the growth of this region.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to the existence of important players, increased acceptance of mhealth and EHR, and expanding investment in patient engagement software by the big corporations. Furthermore, increased knowledge, combined with government spending on the healthcare sector, is likely to boost growth. Europe held the second-largest percentage in 2021, owing to publicly supported systems such as the National Health Service (NHS) in the United Kingdom.

Key players in the market

Some of the key players profiled in the Patient Engagement Solutions Market include Oracle, Athenahealth, Allscripts Healthcare, LLC, Lincor, Medecision, Orion Health group of companies, Get Real Health, GetWellNetwork, Inc, MCKESSON CORPORATION, Oneview Ltd., PATIENTPOINT, LLC, SONIFI Health Incorporated, CipherHealth Inc, PALANTIR, IQVIA, HealthHub Patient Engagement Solutions, MEDITECH, Cerner Corporation, Epic Systems Corporation and Symphony Care

Key Developments

In April 2023, athenahealth and Smile Foundation Launch Second Mobile Medical Unit in Bengaluru, The mobile medical unit provides free care to underprivileged and underserved communities in Karnataka state.

In Jan 2023, Oracle and Red Hat Expand Collaboration to Bring Red Hat Enterprise Linux to Oracle Cloud Infrastructure, The strategic collaboration starts with Red Hat Enterprise Linux running

In Dec 2022, athenahealth?Expands its Global Corporate Social Responsibility Program in 2022 Program highlights for the year include new partnerships and the expansion of existing partnerships with organizations that align with the athenaGives mission to provide equitable access to healthcare

In Oct 2022, Oracle Unity CDP Expands Artificial Intelligence Models Across Industries to Enhance Customer Experiences, The latest AI models added to Oracle Unity support organizations in automotive, consumer packaged goods, communications, financial services, healthcare, high-tech, and utilities industries.

Components Covered:
• Software & Hardware
• Services
• Other Components

Delivery Modes Covered:
• Cloud Based
• On Premise
• Web Based

Therapeutic Areas Covered:
• Chronic Diseases
• Diabetes
• Obesity
• Cardiovascular diseases (CVD)
• Womens Health
• Fitness
• Other Therapeutic Areas

Funtionalities Covered:
• Virtual Consultation
• E-Prescribing
• Patient/Client Scheduling
• Document Management
• Patient Education
• Billing & Payments
• Health Tracking & Insights
• Other Funtionalities

Applications Covered:
• Health Management
• Financial Health Management
• Home Healthcare Management
• Social Health Management
• Other Applications

End Users Covered:
• Health Management
• Providers
• Payers
• Patients
• Individual Users
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Table of Contents

175 Pages
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Patient Engagement Solutions Market, By Component
5.1 Introduction
5.2 Software & Hardware
5.2.1 Standalone
5.2.2 Integrated
5.3 Services
5.3.1 Consulting
5.3.2 Implementation & Training
5.3.3 Support & Maintenance
5.3.4 Other Services
5.4 Other Components
6 Global Patient Engagement Solutions Market, By Delivery Mode
6.1 Introduction
6.2 Cloud Based
6.3 On Premise
6.4 Web Based
7 Global Patient Engagement Solutions Market, By Therapeutic Area
7.1 Introduction
7.2 Chronic Diseases
7.3 Diabetes
7.4 Obesity
7.5 Cardiovascular diseases (CVD)
7.6 Womens Health
7.7 Fitness
7.8 Other Therapeutic Areas
8 Global Patient Engagement Solutions Market, By Funtionality
8.1 Introduction
8.2 Virtual Consultation
8.3 E-Prescribing
8.4 Patient/Client Scheduling
8.5 Document Management
8.6 Patient Education
8.7 Billing & Payments
8.8 Health Tracking & Insights
8.9 Other Funtionalities
9 Global Patient Engagement Solutions Market, By Application
9.1 Introduction
9.2 Health Management
9.2.1 Outpatient Health Management
9.2.2 In-patient Health Management
9.3 Financial Health Management
9.4 Home Healthcare Management
9.5 Social Health Management
9.6 Other Applications
10 Global Patient Engagement Solutions Market, By End User
10.1 Introduction
10.2 Providers
10.3 Payers
10.4 Patients
10.5 Individual Users
10.6 Other End Users
11 Global Patient Engagement Solutions Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Oracle
13.2 Athenahealth
13.3 Allscripts Healthcare, LLC
13.4 Lincor
13.5 Medecision
13.6 Orion Health group of companies
13.7 Get Real Health
13.8 GetWellNetwork, Inc
13.9 MCKESSON CORPORATION
13.10 Oneview Ltd.
13.11 PATIENTPOINT, LLC
13.12 SONIFI Health Incorporated
13.13 CipherHealth Inc
13.14 PALANTIR
13.15 IQVIA
13.16 HealthHub Patient Engagement Solutions
13.17 MEDITECH
13.18 Cerner Corporation
13.19 Epic Systems Corporation
13.20 Symphony Care
List of Tables
Table 1 Global Patient Engagement Solutions Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Patient Engagement Solutions Market Outlook, By Component (2020-2028) ($MN)
Table 3 Global Patient Engagement Solutions Market Outlook, By Software & Hardware (2020-2028) ($MN)
Table 4 Global Patient Engagement Solutions Market Outlook, By Standalone (2020-2028) ($MN)
Table 5 Global Patient Engagement Solutions Market Outlook, By Integrated (2020-2028) ($MN)
Table 6 Global Patient Engagement Solutions Market Outlook, By Services (2020-2028) ($MN)
Table 7 Global Patient Engagement Solutions Market Outlook, By Consulting (2020-2028) ($MN)
Table 8 Global Patient Engagement Solutions Market Outlook, By Implementation & Training (2020-2028) ($MN)
Table 9 Global Patient Engagement Solutions Market Outlook, By Support & Maintenance (2020-2028) ($MN)
Table 10 Global Patient Engagement Solutions Market Outlook, By Other Services (2020-2028) ($MN)
Table 11 Global Patient Engagement Solutions Market Outlook, By Other Components (2020-2028) ($MN)
Table 12 Global Patient Engagement Solutions Market Outlook, By Delivery Mode (2020-2028) ($MN)
Table 13 Global Patient Engagement Solutions Market Outlook, By Cloud Based (2020-2028) ($MN)
Table 14 Global Patient Engagement Solutions Market Outlook, By On Premise (2020-2028) ($MN)
Table 15 Global Patient Engagement Solutions Market Outlook, By Web Based (2020-2028) ($MN)
Table 16 Global Patient Engagement Solutions Market Outlook, By Therapeutic Area (2020-2028) ($MN)
Table 17 Global Patient Engagement Solutions Market Outlook, By Chronic Diseases (2020-2028) ($MN)
Table 18 Global Patient Engagement Solutions Market Outlook, By Diabetes (2020-2028) ($MN)
Table 19 Global Patient Engagement Solutions Market Outlook, By Obesity (2020-2028) ($MN)
Table 20 Global Patient Engagement Solutions Market Outlook, By Cardiovascular diseases (CVD) (2020-2028) ($MN)
Table 21 Global Patient Engagement Solutions Market Outlook, By Womens Health (2020-2028) ($MN)
Table 22 Global Patient Engagement Solutions Market Outlook, By Fitness (2020-2028) ($MN)
Table 23 Global Patient Engagement Solutions Market Outlook, By Other Therapeutic Areas (2020-2028) ($MN)
Table 24 Global Patient Engagement Solutions Market Outlook, By Funtionality (2020-2028) ($MN)
Table 25 Global Patient Engagement Solutions Market Outlook, By Virtual Consultation (2020-2028) ($MN)
Table 26 Global Patient Engagement Solutions Market Outlook, By E-Prescribing (2020-2028) ($MN)
Table 27 Global Patient Engagement Solutions Market Outlook, By Patient/Client Scheduling (2020-2028) ($MN)
Table 28 Global Patient Engagement Solutions Market Outlook, By Document Management (2020-2028) ($MN)
Table 29 Global Patient Engagement Solutions Market Outlook, By Patient Education (2020-2028) ($MN)
Table 30 Global Patient Engagement Solutions Market Outlook, By Billing & Payments (2020-2028) ($MN)
Table 31 Global Patient Engagement Solutions Market Outlook, By Health Tracking & Insights (2020-2028) ($MN)
Table 32 Global Patient Engagement Solutions Market Outlook, By Other Funtionalities (2020-2028) ($MN)
Table 33 Global Patient Engagement Solutions Market Outlook, By Application (2020-2028) ($MN)
Table 34 Global Patient Engagement Solutions Market Outlook, By Health Management (2020-2028) ($MN)
Table 35 Global Patient Engagement Solutions Market Outlook, By Outpatient Health Management (2020-2028) ($MN)
Table 36 Global Patient Engagement Solutions Market Outlook, By In-patient Health Management (2020-2028) ($MN)
Table 37 Global Patient Engagement Solutions Market Outlook, By Financial Health Management (2020-2028) ($MN)
Table 38 Global Patient Engagement Solutions Market Outlook, By Home Healthcare Management (2020-2028) ($MN)
Table 39 Global Patient Engagement Solutions Market Outlook, By Social Health Management (2020-2028) ($MN)
Table 40 Global Patient Engagement Solutions Market Outlook, By Other Applications (2020-2028) ($MN)
Table 41 Global Patient Engagement Solutions Market Outlook, By End User (2020-2028) ($MN)
Table 42 Global Patient Engagement Solutions Market Outlook, By Providers (2020-2028) ($MN)
Table 43 Global Patient Engagement Solutions Market Outlook, By Payers (2020-2028) ($MN)
Table 44 Global Patient Engagement Solutions Market Outlook, By Patients (2020-2028) ($MN)
Table 45 Global Patient Engagement Solutions Market Outlook, By Individual Users (2020-2028) ($MN)
Table 46 Global Patient Engagement Solutions Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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