Patient Engagement Solution Market is Expected to Gain Popularity Across the Globe by 2026 With Key Companies Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, Orion Health, Athena Health, OptumHealth

Patient Engagement Solution Market-Competitive Landscape

Some of the key players operating in the population health management system include Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, Orion Health, Athena Health, OptumHealth, Epic Corporation, Inc., Philips Wellcentive, eClinicalWorks, Change Healthcare, Verscend Technologies, Inc., IBM Watson Health, Caradigm and Care Evolution.

Key players are engaged in mergers and acquisitions in order to improve the market footprint and expand inorganically. For instance, in August 2017, Allscripts announced to acquire McKesson Corporation’s hospital and health system IT business and Enterprise Information Solutions for US$ 185 million in cash.Patient Engagement Solution Market-Regional Insights

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On the basis of geography, patient engagement solutions market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to lead the population health management system market due to various reasons. U.S. currently has one of highest per capita expenditure on healthcare accounting for US$ 9146, according to statistics given by World Economic Forum in 2016. This cost could be saved with the greater application of patient engagement solutions resulting in quality comprehensive care with reduced hospital admissions. This would also lower the burden on health care infrastructure with shortage of physicians and hospitals beds.

Furthermore, increasing number of patients with chronic disease is another driver for market growth. According to National Cancer Institute, around 1,735,350 new cases of cancer would be diagnosed in the U.S. in 2018, and cancer is expected to cause around 609,640 death in same year. Increased hospital readmission is cause of concern in the U.S. as there is penalty provision due to hospital readmissions if they occur within certain time frame under ACA, 2009. According to American Hospital Organization 2017, since penalty provision came into effect in 2012, hospitals have paid US$ 1.9 billion of penalties, including US$ 528 million in 2017.0. Therefore, patient engagement solution assists in chronic disease management and reduce number of hospital readmission.

Europe is expected to be second most lucrative market due to high percent of old age population, according to Europa Statistics in 2017, around 19% of current Europe population is more than 60 in age, which would rise to 25% in near future. Asia Pacific offers potential opportunity for the patient engagement solutions market growth, owing to highest death rates due to chronic disease. More than 12 million and around 80% worldwide chronic disease death were reported from this region, as per WHO factsheet in 2017. Healthcare infrastructure in this region is slowly improving, which is expected to promote use of population health management solution.

Patient Engagement Solution Market-Market Dynamics

Patient engagement solutions market is expected to witness upward growth during forecast period due to rising prevalence of chronic disease worldwide. Chronic disease such as cancer, cardiovascular disease, diabetes, asthma (chronic lung disease) results into significant deaths each year. According to World Health Organization data (WHO) in 2017, around 40 million people die annually due to chronic disease, which accounts for 70% of all deaths worldwide. Cardiovascular diseases are responsible for 17.7 million death annually, followed by cancers (8.8 million deaths), respiratory diseases (3.9million deaths), and diabetes (1.6 million deaths). Patient engagement solutions benefits the better clinical management of this disease by engaging patient about their health and in turn maintaining patient base for hospital or clinic.

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Increasing old age population worldwide is expected to further fuel patient engagement solutions market growth. According to the population Prospect report by United Nations in 2017, an estimated 962 million people were of age 60 or above, which accounted for 13% of the global population. By 2030, number of old people in the world is projected to be 1.4 billion, growing at annual rate of 3%. Various complications associated with old age can be better managed with PES. Advancement in big data analytics is expected to benefit the patient engagement solutions market, as it would help in management of vast data with precision in quality healthcare to individual.

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This release was published on openPR.