AI In Patient Engagement Global Market Report 2024 - By Drivers, Size, Share, Growth, Forecast To 2033

"The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the AI In Patient Engagement Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The AI in patient engagement market size has grown exponentially in recent years. It will grow from $6.28 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. The growth in the historic period can be attributed to improved patient communication, rising demand for personalized healthcare, growing adoption of wearable devices, increased focus on patient-centered care, enhanced data security measures, rising chronic disease incidences.

The AI in patient engagement market size is expected to see exponential growth in the next few years. It will grow to $16.88 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to accelerated integration of AI in healthcare systems, expansion of telehealth services, increased emphasis on remote patient monitoring, continued development of AI-powered chatbots, surge in health data analytics. Major trends in the forecast period include adoption of AI for predictive analytics in patient care, integration of AI in electronic health records (EHR) systems, ongoing technological innovations in AI, personalized healthcare solutions, advancements in natural language processing (NLP).

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Key Market Players:
Major companies operating in the ai in patient engagement market report are ZS Associates, Health Catalyst, Viz.ai, Ada Health, Zocdoc, PathAI, Kyruus, Memora Health, HealthLoop, Qventus, Lark Health, Your.MD, Buoy Health, HealthTap, Welltok, Pillo Health, K Health, Mediktor, Clarify Health Solutions, Zebra Medical Vision, Sensely, Orbita, Ayasdi, Clinithink, WiserCare, Catalia Health, Conversa Health, Prevencio

Market Drivers:
The rising demand for personalized healthcare solutions is expected to propel the growth of AI in the patient engagement market going forward. Personalized healthcare solutions, or personalized medicine, are tailored medical treatments and preventative care strategies that consider an individual's medical history, diagnostic testing, circumstances, and genetic information. AI in patient engagement is used in personalized healthcare solutions to leverage data analysis and machine learning to tailor treatments, predict patient outcomes, and optimize care plans based on individual genetic, lifestyle, and clinical factors. For instance, in 2022, according to the Personalized Medicine Coalition, a US-based organization that represents innovators, scientists, and patients, the Food and Drug Administration's Center for Drug Evaluation and Research (CDER) approved 37 new molecular entities (NMEs) in 2022. Further, out of these 37 NMEs, 35 are therapeutic, and among them, 12 are classified as personalized medicines by the Personalized Medicine Coalition (PMC). Therefore, the rising demand for personalized healthcare solutions is driving the growth of AI in the patient engagement market.

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The ai in patient engagement market covered in this report is segmented -
1) By Technology: Chatbots, Natural Language Processing (NLP), Computer Vision
2) By Delivery Type: Cloud-based, On-premise
3) By Therapeutic Area: Health And Wellness, Chronic Disease Management, Other Therapeutic Areas
4) By Application: Outpatient Health Management, In-patient Health Management, Population Health Management, Other Applications
5) By End-Use: Providers, Payers, Other End-Uses

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