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Patient Engagement Solutions Market Revenue to Cross USD 50.5 billion by 2032 | Aetna Inc., IQVIA Inc., Lumeon Inc.
Patient Engagement Solutions Market Size
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Patient engagement software is dedicated to any healthcare provider whose services comprise direct contact with a single client. Health engagement platforms serve to schedule appointments and maintain the accessibility of medical records. In addition, a digital patient engagement platform simplifies the healthcare process for the client and brings substantial benefits from the business point of view. The patient engagement solution market has seen significant growth over the years, driven by several key trends and growth factors. One of the major trends is the development of cloud-based platforms to address the demand from large enterprises to secure cloud infrastructure.
Similarly, the rise in popularity of managed services to administrate the outsourced IT infrastructure is another trend contributing to the patient engagement solution market growth. Growth factors of the patient engagement solution market include a rise in the number of chronic diseases and increase in awareness regarding mobile health among people, a growth in need to secure critical infrastructure, and extensive adoption and deployment of digital technologies. Overall, the patient engagement solution market is expected to continue to grow due to the rise in the adoption of patient engagement solution services across enterprises.
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Deployment mode analysis reveals that while on-premise solutions are experiencing steady growth due to the demand for secure data management within organizations, cloud solutions are expected to grow rapidly, driven by their cost-effectiveness.
North America currently leads the market, attributed to the presence of major players and government initiatives to strengthen database infrastructure. However, the Asia-Pacific region is projected to witness the fastest growth, thanks to cost-effective digital solutions and increased data generation across organizations, bolstered by advancements in technology ensuring system safety and efficiency.
The COVID-19 pandemic has underscored the importance of digital solutions in healthcare, creating opportunities for cloud technology adoption in telemedicine, remote patient monitoring, and other sectors. Advanced patient engagement solutions enhance healthcare services and address emerging challenges. Moreover, the emphasis on cleanliness and hygiene post-pandemic is expected to drive adoption of patient engagement solutions, which can contribute to efficient disinfection and sanitization solutions.
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Businesses are enhancing their offerings in response to these trends, such as PatientPoint's launch of new digital products in March 2020. Additionally, the rise of cloud computing in various industries, including healthcare, is expected to further drive market growth, as demonstrated by Maxim Software Systems' introduction of EngageB in June 2023, aimed at transforming patient engagement in dental clinics.
Overall, the adoption of digital trends and strategies in the healthcare sector is expected to fuel the global growth of patient engagement solutions.
The market players operating in the patient engagement solutions industry are Aetna Inc., Allscripts Healthcare Solutions, Inc. (Veradigm LLC), Athenahealth, Oracle Corporation, EPIC Systems Corporation, GetWellNetwork, Inc., IBM Corporation, IQVIA Inc., Lumeon Inc. and McKesson Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the patient engagement solutions market globally.
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