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Patient Engagement Technology Market Industry Share And Forecast To 2033
Patient Engagement Technology Market
Patient Engagement Technology Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.85 billion In 2028 At A CAGR Of 5.8% :
The patient engagement technology market size has grown strongly in recent years. It will grow from $6.63 billion in 2023 to $7.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to implementation of government regulations and initiatives to promote patient-centric care, high demand for patient engagement solutions post-pandemic, increasing use of mobile health apps, rising number of collaborations and partnerships among healthcare stakeholders, and growing utilization of telehealth services.
The patient engagement technology market size is expected to see strong growth in the next few years. It will grow to $8.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to shortage of qualified it professionals, patient information protection, growing technological developments, rising demand for patient engagement solution, and increasing adoption of EHR and mHealth solutions. Major trends in the forecast period include rising utilization of telehealth services, shift to patient-centered healthcare, rising number of collaborations and partnerships among healthcare stakeholders, increasing prevalence of chronic diseases.
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Patient Engagement Technology Market Major Segments
The patient engagement technology market covered in this report is segmented -
1) By Type: Hardware, Software, Services
2) By Delivery Mode: Web-Based And Cloud-Based , On-Premise
3) By Application: Health Management, Social Management, Home Healthcare Management, Financial Health Management
4) By End User: Providers, Payers, Patients
Key Driver - The Role of Remote Care Demands in Fueling Patient Engagement Technology Market Growth
Growing remote care demands are expected to propel the growth of the patient engagement technology market going forward. The demand for remote care refers to the growing need and expectations for healthcare services that can be delivered remotely without needing in-person visits to healthcare facilities. Remote care enables patients to access healthcare services from their homes. This increased accessibility and convenience lead to higher patient engagement, as individuals are more likely to participate actively in their healthcare when it is actively and energetically accessible. For instance, in February 2023, according to a report by Rock Health, a US-based healthcare organization, 80% of all respondents accessed care via telemedicine at some point, up eight people from 72% in 2021. Further, 82% of reported telemedicine use reflects a 9-person increase in 2021. Therefore, growing remote care demands are driving the growth of the patient engagement technology market.
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Prominent Trend - ZAIDYN Connected Health and Pioneering Technologies Transforming the Patient Engagement Technology Landscape
Major companies operating in the patient engagement technology market are developing innovative technologies such as ZAIDYN connected health to increase profitability in the market. ZAIDYN Connected Health is an AI-powered platform designed to help pharmaceutical companies, healthcare providers, and payers innovate in the healthcare industry. For instance, in October 2023, ZS Associates, a US-based management consulting services company, launched ZAIDYN-connected health technology to ensure medication adherence, monitor chronic illnesses, and take early action in the event of complications. Remote patient monitoring tracks patient health data. This suite of technologies assists stakeholders in the healthcare industry in identifying treatment gaps and unfulfilled patient needs.
Patient Engagement Technology Market Players
Major companies operating in the patient engagement technology market are Mckesson Corporation, Johnson and Johnson, The International Business Machines Corporation, Oracle Corporation, Medtronic Plc, Northwell Health, IQVIA, Cerner Corporation, Epic Systems Corporation, Palantir Technologies, Athenahealth Inc, eClinical Works LLC, Allscripts Healthcare Solutions Inc. , Computer Programs and Systems Inc., Medical Information Technology Inc., Medecision Inc., PATIENTPOINT LLC , MEDHOST, Orion Health Limited, GetWellNetwork Inc., HealthHub Patient Engagement Solutions , DrChrono Inc., Luma Health Inc., Lincor Solutions Ltd., CipherHealth Inc., Phytel Inc., Oneview Healthcare Plc, SONIFI Health Incorporated. , Get Real Health , WelVU Inc., Yourcareuniverse Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the patent engagement technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient engagement technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Patient Engagement Technology Market Report Structure
3. Patient Engagement Technology Market Trends And Strategies
4. Patient Engagement Technology Market - Macro Economic Scenario
5. Patient Engagement Technology Market Size And Growth
…..
27. Patient Engagement Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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