Patient Engagement Solutions Market to be Worth $99.5 Billion by 2030 – Exclusive Report by Meticulous Research®
Redding, California, Aug. 03, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, ‘
Patient Engagement Solutions Market
by Offering (Software, Service) Deployment Mode (On-premise, Cloud) Application (Home Healthcare, Population Health, Patient Journey, Outpatient, Financial, Wellness, Disease Management), and End User – Global Forecast to 2030,’
published by Meticulous Research
, the patient engagement solutions market is projected to reach $99.5 billion by 2030, at a CAGR of 19.2% from 2023 to 2030.
Patient engagement solutions have gained high traction recently in healthcare management due to their benefits in enhancing patient-provider communication, allowing patients to check their health status, review their medical records, and refill prescriptions. Additionally, these solutions have been widely used to empower and educate patients by providing personalized therapies, providing a secure and trust-friendly user experience.
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The growth of this market is driven by increasing demand and adoption of patient engagement solutions, efforts to enhance patient-centric care by end users, growing industry consolidation through partnerships and collaborations, government initiatives and regulatory upgradation, rising healthcare expenditure, rising prevalence of chronic diseases coupled with the increasing geriatric population. However, patient data privacy and safety concerns are restraining the growth of this market.
Furthermore, the growing adoption of wearable and mobile-based digital healthcare solutions; and emerging economies are posing significant opportunities for patient engagement solutions market players. However, the lack of digital literacy, the high cost associated with the deployment of healthcare IT solutions, and the lack of skilled IT personnel in the healthcare industry are challenges to the growth of this market.
Emerging Economies are expected to
Boost the Growth of the Patient Engagement Solutions Market
Countries such as India, Malaysia, Bangladesh, China, South Korea, Argentina, and Brazil are considered emerging economies due to their growing GDPs and high adoption of new technologies. Emerging economies worldwide are fueling the demand for healthcare services and treatments due to rapid urbanization, improving healthcare infrastructure, increasing expenditures, growing healthcare insurance coverage, rising disposable incomes, and the prevalence of non-communicable and infectious diseases.
According to World Bank Data, the total population of emerging countries is projected to reach around 3.4 billion by 2050. The growing population has also created tremendous pressure on healthcare systems owing to the increase in the disease status of the countries. For instance, as per International Diabetes Federation, the total number of people with diabetes is estimated to reach 643 million by 2030 and 783 million by 2045, of whom 3 in 4 adults live in low- and middle-income countries. Similarly, according to the Global Point Prevalence Survey (Global-PPS), Latin American countries have the highest prevalence of healthcare-associated infections (11.9%) among patients admitted to hospitals.
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Furthermore, growing urbanization and rising GDP per capita in emerging economies drive the demand for healthcare services and treatments. Growing urbanization indicates higher wages, a better quality of life, and improved access to healthcare services. Therefore, growing urbanization in emerging economies is expected to drive the development of healthcare systems, leading to the proliferation of hospitals, clinics, and diagnostic laboratories and thus increasing people’s access to healthcare services in these countries.
Also, high economic growth in emerging countries is expected to drive the development of healthcare systems, increase people’s access to healthcare services, drive growth in the middle-class population and disposable incomes, and lead to the further proliferation of advanced technologies in these countries. These factors indicate that emerging economies are expected to create significant opportunities for the patient engagement solutions market.
The patient engagement solutions market is segmented based on Offerings [Hardware, Software, Services], Mode of Delivery [Web and Cloud-based Solutions, On-Premise Solutions], Application [Care Management Applications (Health Management, Home Healthcare Management, Patient Journey Mapping and Analysis, Population Health Management, Outpatient Health Management, Financial Health Management, Other Applications) Therapeutic Applications (Disease Management, Health & Wellness)], End User [Healthcare Payers, Healthcare Providers, Patients], and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Quick Buy – Patient Engagement Solutions Market- Global Opportunity Analysis and Industry Forecast (2023-2030), Research Report:
The report also includes an extensive assessment of the key growth strategies adopted by leading market players in the last few years. Some of the key players operating in the patient engagement solutions market are Allscripts Healthcare Solutions, Inc. (U.S.), athenahealth, Inc. (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), McKesson Corporation (U.S.), Oneview Healthcare (Ireland), IQVIA (U.S.), Epic Systems Corporation, AdvancedMD, Inc. (U.S.), Cognizant Technology Solutions Corporation (U.S.), Siemens Healthineers AG (Germany), Harris Healthcare (U.S.), and Medical Information Technology, Inc. (U.S.).
Based on offering, the patient engagement solutions market is segmented into software, hardware, and services. In 2023, the software segment is expected to account for the largest share of the market. Factors such as effortless rescheduling of appointments and getting reminders, ease in providing patient feedback, improvement in patient compliance, and enhanced communication between healthcare professionals and patients contribute to the large market share of this segment.
Among the deployment modes studied in this report, the web and cloud-based solutions segment is expected to account for the largest share of the patient engagement solutions market in 2023. Cloud-based patient engagement solutions are widely adopted for their benefits, such as the high capacity of cloud-based solutions to store data, efficiency in remote use and accessibility of data, reduction in operational costs, and offers improved reliability, data security, and scalability.
Based on application, the patient engagement solutions market is segmented into care management applications and therapeutic applications. In 2023, the therapeutic applications segment is expected to account for the largest share of the patient engagement solutions market due to the increasing prevalence of chronic diseases, rise in the geriatric population, and acceleration in the use of advanced technologies from the COVID-19 pandemic for health & wellness tracking.
Based on end user, the patient engagement solutions market is segmented into healthcare payers, healthcare providers, and patients. In 2023, the healthcare providers segment is expected to account for the largest share of the patient engagement solutions market due to factors such as improved healthcare delivery, operational efficiencies and patient outcomes. Additionally, increased routine care procedures have further triggered the segment’s growth.
Based on geography, in 2023, North America is expected to account for the largest share of the patient engagement solutions market, followed by Europe and Asia-Pacific. Furthermore, in 2023, the U.S. is expected to be the largest market shareholder in North America. The growth of this market is primarily attributed to the high adoption of advanced technologies, high literacy among the population for the adoption of advanced solutions, and high government spending on the healthcare sector.
To gain more insights into the market with a detailed table of content and figures, click here:
Scope of the Report:
Patient Engagement Solutions Market Size & Trend Analysis – by Offering
Patient Engagement Solutions Market Size & Trend Analysis – by Deployment Mode
- Web and Cloud-based Solutions
- On-Premise Solutions
Patient Engagement Solutions Market Size & Trend Analysis – by Application
Care Management Applications
- Health Management
- Home Healthcare Management
- Patient Journey Mapping and Analysis
- Population Health Management
- Outpatient Health Management
- Financial Health Management
- Other Applications
- Disease Management
- Health & Wellness
Note: Other applications include
patient recalls, patient education, post-visit feedback, billing, scheduling, appointment reminders, and registration.
Patient Engagement Solutions Market Size & Trend Analysis – by End User
- Healthcare Payers
- Healthcare Providers
Patient Engagement Solutions Market Size & Trend Analysis – by Geography
- North America
- Rest of Europe (RoE)
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
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