Press release
Patient Engagement Solutions Market expected to Witness Huge Revenue Growth to 2031
The Patient Engagement Solutions Market Size is valued at 10.70 Bn in 2022 and is predicted to reach 42.43 Bn by the year 2031 at an 17.05% CAGR during the forecast period for 2023-2031.
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Patient Engagement Solutions involve innovative healthcare technologies that connect clinicians, patients, payers, and partners in differentiated ways. The patient engagement solutions allow access to patient data anytime, anywhere, which aids in delivering high-quality and sustainable healthcare for all.
Patient engagement software and platforms allow patients to access their medical records, schedule appointments and communicate with doctors, making remote patient monitoring easy. Recent advances in patient engagement technology, including artificial intelligence (AI), machine learning, personalized care, telemedicine, and remote monitoring tools, have revolutionized the healthcare sector by digitizing all aspects of care.
Nowadays, the healthcare sector is turning to information technologies to increase patient engagement in general and handle COVID-19 in particular. Doctors can use modern IT technology to reach their patients anytime and anywhere and provide helpful information at the right time.
Patient engagement systems have various benefits, including appointment reminders and effortless rescheduling, ease of access, patient education, real-time data management, prescription refills, chatbot or messaging options, enhanced communication between patients and their healthcare providers, and remote access to healthcare services.
Considering these benefits and the need for virtual healthcare, companies are innovating and implementing different patient engagement strategies, likely to surge the market growth during the forecast period.
Some of the prominent players in the Patient Engagement Solutions Market are:
• athenahealth
• Coviu
• GetWellNetwork
• Health Catalyst
• MediBuddy
• Mocero Health
• Orion Health
• Physitrack
• SolvEdge
• Veradigm (formly Allscript)
• Well-Beat
• Wolters Kluwer
• IBM
• McKesson Corporation
• Allscripts
• Cerner Corporation
• Epic Systems Corporation
• Orion Health
• GetWellNetwork athenahealth
• Oneview Healthcare
• MEDITECH
• IQVIA
• Get Real Health
• Cognizant
• Symphony Care
• Harris Healthcare
• Kareo
• CureMD Healthcare
• eClinicalWorks
• Lincor Solutions
• AdvancedMD
• WellStack
• IQVIA
• Vivify Health
• Medhost
• Validic
• MEDISYSINC
• Patient point LLC
• Other Prominent Players
Patient Engagement Solutions Market Report Scope
Report Attribute Specifications
Market Size Value In 2022 USD XX Million
Revenue Forecast In 2031 USD XX Million
Growth Rate CAGR CAGR of XX % from 2023 to 2031
Quantitative Units Representation of revenue in US$ Million and CAGR from 2023 to 2031
Historic Year 2019 to 2022
Forecast Year 2023-2031
Report Coverage The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments Covered By Deployment Option, By Type of Solution Offered, By Application Area, By End-User
Regional Scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country Scope U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia
Competitive Landscape Athenahealth, Coviu, GetWellNetwork, Health Catalyst, MediBuddy, Mocero Health, Orion Health, Physitrack, SolvEdge, Veradigm (formly Allscript), Well-Beat, Wolters Kluwer, IBM, McKesson Corporation, Allscripts, Cerner Corporation, Epic Systems Corporation, Orion Health, GetWellNetwork athenahealth, Oneview Healthcare, MEDITECH, IQVIA, Get Real Health, Cognizant, Symphony Care, Harris Healthcare, Kareo, CureMD Healthcare, eClinicalWorks, Lincor Solutions, AdvancedMD, WellStack, IQVIA, Vivify Health, Medhost, Validic, MEDISYSINC, Patient point LLC, and Others.
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Customization Scope Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.
Pricing and Available Payment Methods Explore pricing alternatives that are customized to your particular study requirements.
Market Dynamics:
Drivers:
The rising trend of using digital applications has accelerated the growth of this market. Additionally, the high prevalence of chronic diseases, rising government efforts to create awareness regarding healthcare engagement solutions, R&D activities by market players to innovate tools with high efficiency & security and government support to develop easily accessible healthcare solutions have further helped this market to grow during the forecast period.
Furthermore, the rapid implementation of cloud-based platforms and easy access to real-time data contributes to market growth.
Several pharmaceutical companies use patient engagement tools to improve patient retention rates in clinical studies, which is anticipated to compel the demand for patient engagement solutions in the coming future.
The COVID-19 outbreak has expanded the use of patient engagement solutions such as telehealth and virtual care, which is likely to witness significant growth during the projected period.
Challenges:
However, the lack of awareness bout digital healthcare solutions and patient data security concerns are predicted to impede market expansion during the forecast period.
In addition, the scarcity of skilled IT professionals, high-priced healthcare IT systems, and maintenance & software update costs of these systems may restrict the market demand.
Regional Trends:
North America accounted for the maximum revenue share of the patient engagement solutions market in 2022. Major driving factors of this market are the increasing prevalence of chronic diseases, the need to reduce healthcare costs for better accessibility, well-developed infrastructure of industries, rising government initiatives to improve healthcare systems, and the demand for real-time data access.
In addition, Asia Pacific is expected to increase its participation in the global patient engagement solutions market over the projected period. The market in this region can be driven by the rapid expansion of cloud-based technology in healthcare and the high demand for high-quality, affordable healthcare services.
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Key developments in the market:
• In May 2023, Athenahealth, Inc. announced that LCH Health and Community Services had implemented athenaOne, athenahealth's integrated, cloud-based electronic health record (EHR), medical billing, and patient engagement solution, and athenaOne Dental, to provide a more unified experience for its patients & providers and to support the nonprofit's growth strategy.
• In May 2023, MediBuddy collaborated with Indel Money Limited to provide Indel Money Gold customers with access to various healthcare services, including unlimited General Physician consultation, health check-ups, and lab benefits up to Rs. 1000, and free delivery of medicines.
• In April 2023, Athenahealth rolled out a new tool called the Patient Digital Engagement Index to measure how well patients engage with digital health.
• In July 2022, Health Catalyst, Inc. partnered with MemorialCare Miller Children's & Women's Hospital Long Beach, a leading, innovative nonprofit health system in Orange and Los Angeles Counties to improve care outcomes with innovative patient engagement technology.
• In July 2022, MediBuddy acquired Clinix, an online doctor consultation startup. This acquisition will help MediBuddy penetrate the domestic rural market.
Market Segments
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Deployment Option
• Cloud-based Solution
• On-Premise Solutions
• Web-based Solutions
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Type of Solution Offered
• Appointment Management Solutions
• Electronic Health Record Integration Solutions
• Patient Education Solutions
• Remote Patient Monitoring Solutions
• Other Solutions
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Application Area
• Financial Health Management
• Fitness and Wellbeing
• Home Health Management
• Research and Development
• Social Health Management
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on End-user
• Healthcare Providers
• Individuals
• Payers
• Others
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Patient Engagement Solutions Market Revenue (US$ Million) by Country, 2023 to 2031
• U.S.
• Canada
Europe Patient Engagement Solutions Market Revenue (US$ Million) by Country, 2023 to 2031
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Patient Engagement Solutions Market Revenue (US$ Million) by Country, 2023 to 2031
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Patient Engagement Solutions Market Revenue (US$ Million) by Country, 2023 to 2031
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Patient Engagement Solutions Market Revenue (US$ Million) by Country, 2023 to 2031
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Patient Engagement Solutions Market
To receive an industry overview and future trends in the global Patient Engagement Solutions Market
To analyze the Patient Engagement Solutions Market drivers and challenges
To get information on the Patient Engagement Solutions Market size value (US$ Mn) forecast till 2031
Major Investments, Mergers & Acquisitions in the global Patient Engagement Solutions Market industry
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