Patient Engagement Solutions Market: Introduction
According to the report, the global patient engagement solutions market was valued at US$ 17.56 Bn in 2020 and is projected to expand at a CAGR of 15.7% from 2017 to 2028. Patient engagement solutions are designed to obtain improved health outcomes of patients by including advanced IT services and electronic devices in their medical regimen. These solutions engage patients in their healthcare decision-making process, which results in better and healthier healthcare outcomes.
The need of patient engagement solutions is to build a relationship between healthcare providers and patients to promote active participation toward self-care and strengthen the decision-making process individually and collectively. Patient engagement solutions provide services such as medication/appointment reminders, lab reports, and healthcare tips. This helps patients reduce risks to their health and re-admission to the hospitals. These services reduce the financial pressure from healthcare payers and provide valuable medical feedback related to medicines to the pharmaceutical companies.
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Rise in Demand for High Quality Healthcare Solutions Drives Global Market
Patient engagement solutions are designed to improve healthcare delivery systems and develop advanced patient-centric services. These are used to engage patients in self-care and reduce re-admissions in hospitals and clinics. Rise in demand for high quality healthcare solutions and increase in the geriatric population in countries such as Japan and France are key drivers for the adoption of patient engagement solutions.
Ease of access provided by patient engagement solutions for the improvement of self-monitoring of health is another major driver of the market. More advanced and sophisticated patient engagement solutions that are highly effective and adoptive with minimal cost are expected to be the next wave in patient engagement solutions.
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Rise in Use of Smart Devices to Propel Market
The surge in the use of smart devices such as mobile phones and wearables across the world has increased the adoption of mobile healthcare services. Moreover, integration of IT in healthcare services in the form of electronic health records (EHR) and cloud-based databases has enabled hospitals and healthcare providers to improve the storage and processing of patients’ vital information.
North America to Lead Global Market
North America is projected to be a leader in the adoption of patient engagement solutions over the next few years. Favorable government reforms and increase in demand for high quality healthcare are anticipated to boost the growth of the market in the region. Government reforms are being introduced across the world in order to introduce new services and improve existing ones in healthcare management by making them affordable and easily accessible and offering higher-quality treatment to patients.
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Competition Landscape
The global patient engagement solutions market is consolidated in terms of number of players. Key players in the global market include Allscripts, Inc., Cerner Corporation, Phytel, Inc., Axial Exchange, Orion Health, Emmi Solutions LLC, Athenahealth, Inc., and GetWellNetwork, Inc.
Global Patient Engagement Solutions Market: Segmentation
Patient Engagement Solutions Market, by Delivery Mode
• Self-hosted
• Software as a Service (SaaS)
• Application Managed Services
Patient Engagement Solutions Market, by End-user
• Hospitals & Providers
• Healthcare Payers
• Pharmaceutical Companies
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