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The Patient Engagement Technology Market size is estimated to grow by USD 26.38 billion, at a CAGR of 17.83% between 2022 and 2027. The patient engagement solution market's growth hinges on various factors, notably the rising incidence of chronic diseases, which underscores the need for effective healthcare management. Leveraging the advanced benefits offered by patient engagement solutions, healthcare providers can enhance care, drive treatment adherence, and improve health outcomes. Additionally, favorable government initiatives aimed at integrating IT into healthcare services further propel market expansion, fostering seamless communication between patients and healthcare providers. These initiatives not only streamline administrative processes but also empower patients to actively participate in their healthcare journey. As healthcare systems increasingly prioritize patient-centric care, the demand for innovative patient engagement solutions is expected to surge, driving market growth and transformation.
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This market report extensively covers market segmentation by delivery mode (on-premise solution, web, and cloud-based solution), end-user (providers, payers, and individual users), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges.
In the market, several drivers, trends, and challenges shape its landscape. The adoption of healthcare consumerism drives demand, fueled by advancements like virtual consultations and AI technologies. Patients seek convenience through mobile applications and wearable devices for health tracking. However, challenges persist, including interoperability issues between healthcare apps, data security concerns, and the need for standardized assessment timelines. As the market evolves to meet diverse needs, providers must navigate these challenges to ensure seamless integration and maximize the potential of patient engagement solutions. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Advanced benefits of patient engagement solutions are notably driving the patient engagement solution market growth. Patient engagement solutions help patients share health information in a secure manner. Some of these solutions include periodic healthcare tips, trigger-based appointment reminders, prescription refill reminders, and post-diagnosis notes. Patient engagement solutions offer various advantages to patients and providers. For example, patient registration allows to record the health information, such as medication lists, health history, and immunization records. Patient scheduling enables patients to request appointments.
An ideal patient engagement software is a combination of practice management software, customer relationship management (CRM) systems, medical billing software, marketing automation, and other features. These features aim at improving outcomes, which is expected to drive the market during the forecast period.
The increasing adoption of mobile technology for patient engagement is a significant trend in the patient engagement solution market. Healthcare providers are adopting new solutions to enhance workflows and boost patient engagement. Health-tracking apps help track the behavioural and vital signs of patients. They can track parameters such as heart rate, calories burnt, and sleep period.
Smartphones provide consumers with instant access to services. As a result, the adoption of such mobile technology is increasing. Mobile technology applications such as mHealth offer new and innovative healthcare approaches to support patient engagement solutions and value-based care models. Therefore, various healthcare organizations are adopting mobile technologies. These factors will support market growth during the forecast period.
Stringent regulations on patient engagement solutions may impede the patient engagement solution market growth. The Health Insurance Portability and Accountability Act (HIPAA) has laid down requirements for safeguarding data from unauthorized access. To adhere to these requirements, healthcare providers should sign a contract with patient engagement software companies before working with them.
Stringent regulations such as HIPAA limit the capabilities of modern patient portals. As a result, such portals fail to meet the criteria for efficient patient engagement, such as fast access to data, instant transfer of medical information, and direct personalized communication. Failure to adhere to such regulations can lead to stringent action. These factors are expected to hinder the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agilon health Inc. - The company offers a patient engagement system called Healthcare Digital Front Door Solution, which is used for service scheduling, telehealth and remote monitoring, single patient account, and healthcare messaging.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant growth, driven by various factors shaping the healthcare landscape. From health management to home healthcare management, these solutions cater to diverse needs, including Financial Health Management and fitness tracking. Addressing specific demographics like Women's Health and prioritizing Mental Health, these solutions reflect the growing emphasis on holistic care. With the rise of Healthcare Consumerism, virtual consultations and Clinical Trials integration are becoming common. Leveraging AI Technologies and wearable devices, patients gain access to personalized Health Tracking and insights, aiding in Chronic Disease Management and Preventive Care. Whether cloud-based or on-premise, these solutions are accessible via mobile devices and wearables, with mobile applications facilitating seamless interaction and assessment timelines.
The market share growth by the on-premise solution segment will be significant during the forecast period. On-premises solutions require the purchase of licenses or a software copy, and the entire software solution is stored on the company premises. Hence, on-premises solutions are more secure and protected than cloud computing infrastructure. Moreover, healthcare data is located within onsite servers and IT infrastructure.
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The on-premise solution segment was valued at USD 9.42 billion in 2017 and continued to grow until 2021. Managing and maintaining the data on company premises can incur high costs, which is expected to limit the adoption of on-premises solutions during the forecast period. On-premises infrastructure requires in-house server hardware, software licenses, integration capabilities, and IT employees for managing potential risks. If any system breaks down or becomes inoperable, the expenditure to fix it is very high. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The popularity of such technology is increasing in North America due to the rise in demand for improved healthcare outcomes and the increasing incidence of chronic diseases such as heart disease, cancer, diabetes, and others. The need for better management of chronic illnesses such as diabetes or heart disease is also driving the growth of the regional market. It enables to monitor their vital signs at home and receive personalized feedback from healthcare providers. The increasing use of digital health technology is also driving market growth in North America.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.
The market is witnessing robust growth driven by a range of factors. From specific focuses like women's health to broader considerations such as Health Literacy and Care Teams, these solutions cater to diverse needs. They address various patient demographics, including the Geriatric Population and Diabetic Patients, leveraging technologies accessible to Smartphone Users. Ensuring Patient Information Protection across platforms like web-based, cloud-based, and on-premise, these solutions facilitate Assessment Timelines for managing both chronic and deadly diseases, including infectious diseases. With the support of Healthcare Professionals and Healthcare Insurance Providers, these solutions adhere to Strict Regulations while embracing new launches and technological advancements. They span a range of functions from Outpatient Health Management to Arthritis Management, providing standalone or integrated solutions for Consulting, Support and Maintenance, and Patient Education to promote health and wellness and enable effective Population Health Management and In-patient Health Management.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.83% |
Market growth 2023-2027 |
USD 26.38 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
16.57 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
agilon health Inc., ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Athenahealth Inc., CipherHealth, Computer Programs and Systems Inc., DrChrono Inc., eClinical Works LLC, Epic Systems Corp., GetWellNetwork Inc., International Business Machines Corp., Lincor Inc., Luma Health Inc., McKesson Corp., Medical Information Technology Inc., Medtronic Plc, Oneview Healthcare Plc, Oracle Corp., Solutionreach Inc., Sonifi Solutions Inc., and Tebra Technologies Inc. |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Delivery Mode
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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