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Patient Engagement Solutions Market by Application, Therapeutic Area, End User, Geography and Forecast Report 2023
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During the forecast period, the patient engagement solutions market is expected to witness the highest demand for cloud-based delivery mode, with 18.9% CAGR. Cloud mode is a more secure platform than other delivery modes and demonstrates the highest level of compliance with the Health Insurance Portability and Accountability Act (HIPAA), leading to its increased adoption among healthcare providers and payers, globally.
Geographically, North America held the largest share in the patient engagement solutions market during the historical period, accounting for 45.5% share in 2017. The driving factors for the region’s leading position include the presence of well-established healthcare infrastructure, growing number of healthcare information technology (HIT) solution providers, and increasing prevalence of chronic diseases in the region.
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The companies operating in the patient engagement solutions industry are acquiring related businesses of other companies in order to expand their market. For instance, in January 2018, McKesson Corporation (McKesson) completed the acquisition of RxCrossroads from its parent company CVS Health Corporation for $735 million. The acquisition aimed at enhancing McKesson’s existing portfolio of commercialization solutions, including comprehensive patient support services, custom pharmacy solutions, and third-party logistics.
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Some of the other key players in the global patient engagement solutions market include Allscripts Healthcare Solutions Inc., athenahealth Inc., Cerner Corporation, International Business Machines Corporation (IBM), Computer Programs and Systems Inc., eClinicalWorks LLC, Epic Systems Corporation, InterSystems Corporation, and Medical Information Technology Inc.
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