The Patient Engagement Solutions Market Size is valued at 10.70 Bn in 2022 and is predicted to reach 42.43 Bn by the year 2031 at an 17.05% CAGR during the forecast period for 2023-2031.
The patient engagement solutions facilitate communication between patients and healthcare providers, help patients manage their medical records, provide educational resources, and improve the patient-doctor relationship. Healthcare professionals use wearables, educational resources, mobile apps, and other technologies to interact with patients. Additionally, these solutions allow patients to quickly seek medical care and monitor vital signs in real time for healthcare decisions.
The growing advantages and applications of patient engagement solutions have increased the interest of market players, resulting in a strong spur in investment activity in this sector in order to strengthen their patient engagement solution portfolio. For instance, in August 2022, Athenahealth added an automated patient engagement feature to help with medication adherence. The new release of the athenaOne EHR and practice management suite includes DrFirst's RxInform automated patient messaging to help patients follow prescribed treatment plans.
The market for patient engagement solutions is expanding significantly due to the high prevalence of chronic diseases, increasing government initiatives to support IT growth in healthcare, and the fast adoption of cloud-based technologies by healthcare services. However, security concerns and the lack of awareness of patient engagement solutions among people restrain the market growth.
Key Developments In The Market:
- In May 2023, Athenahealth, Inc. announced that LCH Health and Community Services had implemented athenaOne, athenahealth’s integrated, cloud-based electronic health record (EHR), medical billing, and patient engagement solution, and athenaOne Dental, to provide a more unified experience for its patients & providers and to support the nonprofit’s growth strategy.
- In May 2023, MediBuddy collaborated with Indel Money Limited to provide Indel Money Gold customers with access to various healthcare services, including unlimited General Physician consultation, health check-ups, and lab benefits up to Rs. 1000, and free delivery of medicines.
Competitive Landscape:
Some of the Patient Engagement Solutions Market Players are:
- AdvancedMD
- Allscripts Healthcare Solutions
- athenahealth, Inc.
- Boston Scientific Corporation
- Cerner Corporation
- Cisco Systems, Inc.
- Cognizant
- Coviu
- CPSI
- CureMD Healthcare
- eClinicalWorks
- Epic Systems Corporation
- GE Healthcare
- Get Real Health
- GetWellNetwork Inc.
- Harris Healthcare
- Health Catalyst
- IBM Corporation
- IQVIA
- Kareo
- Klara Technologies, Inc.
- Koninklijke Philips N.V.
- Lincor Solutions Ltd.
- McKesson Corporation
- Medecision Inc.
- Medhost
- MediBuddy
- Com
- Meditech
- Medtronic
- Microsoft
- Mocero Health
- NextGen Healthcare, Inc.
- Nuance Communications, Inc.
- Oneview Healthcare
- Orion Health Ltd.
- Patient point LLC
- Philips
- Physitrack
- Phytel Inc.
- ResMed
- Solutionreach, Inc.
- SolvEdge
- Symphony Care
- Validic
- Veradigm (formly Allscript)
- Vivify Health
- Well-Beat
- WellStack
- Wolters Kluwer
- YourCareUniverse Inc.
Market Segmentation:
The Patient Engagement Solutions Market is segmented based on deployment option, type of solution offered, application area, and end-user. The deployment option segment comprises cloud-based solutions, on-premise solutions, and web-based solutions. By type of solution offered, the market is segregated into appointment management solutions, electronic health record integration solutions, patient education solutions, remote patient monitoring solutions, and other solutions.
By Application Area, the market is categorized into financial health management, fitness & well-being, home health management, research & development, and social health management. The end-user segment has been grouped into healthcare providers, individuals, payers, and other end-users.
The Cloud-Based Solution Segment Is Expected To Drive The Patient Engagement Solutions Market In The Coming Years
By deployment option, the Cloud-Based Solution segment is predicted to drive the patient engagement solutions market over the forecast period. This can be credited to the fact that the cloud is a safer platform, more flexible, and affordable, and it enables strong compliance with HIPAA regulations. Furthermore, cloud-based solutions offer low handling costs, convenient accessibility, remote real-time data tracking, and simple data backup capabilities.
The Remote Patient Monitoring Solutions And Appointment Management Solutions Segments Are Growing At The Highest Rate In The Patient Engagement Solutions Market
Remote patient monitoring is one of the most prominent applications of IoT healthcare. Patients use various connected devices to book appointments and capture relevant medical information. Patient monitoring solutions can collect data on vital signs like glucose levels, weight, mood swings, heartbeat, and sleeping patterns. This data allows providers to recognize the early signs of patients' condition and overall well-being.
Remote patient monitoring tools allow patients to communicate with their doctors at a distance, facilitating the efficient exchange of information, patient feedback, and other health-related data. For instance, in April 2023, WellSky, a leading health and community care technology company, launched a Patient Engagement Platform, 'WellSky Patient', aimed at identifying patient health risks, avoiding complications, and improving outcomes through stronger transparency and communication between patients, families, and clinical care teams.
By End-User, The Healthcare Providers Segment Witnessed Growth At A Rapid Rate
The Healthcare Providers segment ruled the global patient engagement solutions market in 2022. Due to the rising prevalence of chronic diseases, increasing use of routine care procedures, and complex healthcare decision-making. Nowadays, healthcare providers offer AI-powered chatbots that are available for 24/7 communication. This can serve as the first line of response by filtering patient calls, answering simple questions, pointing patients to valuable resources, or redirecting them to a human provider, which saves patients' prolonged call waiting time. Thus, the adoption of patient engagement solutions by healthcare providers can drive business expansion in the upcoming years.
Regionally, North America Led The Patient Engagement Solutions Market In 2022
The North American patient engagement solutions market is anticipated to have the highest market share in terms of revenue due to the presence of key players, growing investment in medical information & patient engagement software by major players, and the increasing use of digital healthcare systems. In addition, growth should accelerate with increased awareness and government spending in the health sector. Other factors include government regulations to support healthcare system modifications and increased risk of chronic and infectious diseases.
In addition, Asia Pacific is expected to be the fastest-growing regional market in the upcoming years. Factors including the high prevalence of chronic diseases, well-established healthcare infrastructure, rising awareness levels, and government initiatives to support IT growth in healthcare contribute to the industry expansion.
Patient Engagement Solutions Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 10.70 Bn |
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Revenue Forecast In 2031 |
USD 42.43 Bn |
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Growth Rate CAGR |
CAGR of 17.05 % from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Deployment Option, By Type of Solution Offered, By Application Area, By End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Athenahealth, Coviu, GetWellNetwork, Health Catalyst, MediBuddy, Mocero Health, Orion Health, Physitrack, SolvEdge, Veradigm (formly Allscript), Well-Beat, Wolters Kluwer, IBM, McKesson Corporation, Allscripts, Cerner Corporation, Epic Systems Corporation, Orion Health, GetWellNetwork athenahealth, Oneview Healthcare, MEDITECH, IQVIA, Get Real Health, Cognizant, Symphony Care, Harris Healthcare, Kareo, CureMD Healthcare, eClinicalWorks, Lincor Solutions, AdvancedMD, WellStack, IQVIA, Vivify Health, Medhost, Validic, MEDISYSINC, Patient point LLC, and Others. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
