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Projected Growth and Key Trends in the Patient Engagement Solutions Market: Insights into Market Size, CAGR, Driving Factors
Patient Engagement Solutions Market
What Is The Projected Market Size Of The Global Patient Engagement Solutions Market And Its Growth Rate?
• The current market size of the patient engagement solutions is $23.04 billion as of 2024.
• The market is predicted to grow to $26.01 billion in 2025, representing a CAGR of 12.9%, driven by factors such as the shift towards value-based care, empowerment of informed patients, focus on preventive healthcare, personalized health plans, and care journeys.
• The market size is further expected to grow rapidly to $51.45 billion in 2029, at a CAGR of 18.6%. This future growth can be attributed to developments in remote patient monitoring, personalized medicine, patient-reported outcomes, focus on health literacy, data analytics for population health management, and precision medicine initiatives.
What Is Driving The Growth In The Patient Engagement Solutions Market?
The increasing prevalence of chronic diseases is significantly driving the growth of the patient engagement solutions market. These solutions are crucial in chronic disease management as they empower patients with chronic conditions to constantly monitor their health and notice minor changes in their bodies. Furthermore, these solutions keep patients informed and engaged in their care program and adhere to their treatment plans, leading to more compliant patients and increased communication. Such proactive interventions result in lower costs and higher quality of care. For example, a report from the World Health Organization in February 2024 projected that over 35 million new cancer cases will arise by 2050, marking a 77% increase compared to the estimated 20 million cases in 2022. Therefore, the rising prevalence of chronic diseases is expected to stimulate the patient engagement solution industry during the forecast period.
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Who Are the Key Players Driving Patient Engagement Solutions Market Growth?
• Cerner Corporation
• Epic Systems Corporation
• Allscripts Healthcare Solutions Inc.
• McKesson Corporation
• athenahealth Inc.
• International Business Machines Corporation
• Medecision Inc.
• Orion Health Ltd.
• GetWellNetwork Inc.
• Oneview Healthcare PLC
• Medical Information Technology Inc.
What Are The Key Trends In The Patient Engagement Solutions Market?
• Integration of telehealth and remote monitoring
• Data interoperability and integration with EHRs
• Two-way communication and teleconsultation
• A focus on user-centric design
• Patient education and health literacy initiatives
What Are The Segments Of The Global Patient Engagement Solutions Market?
• By Component: Software And Hardware, Services
• By Delivery Type: Web And Cloud-Based, On-Premise
• By Application: Health Management, Home Health Management, Social and Behavioral Management, Financial Health Management
• By Therapeutic Area: Chronic diseases, Women's Health, Fitness, Other Therapeutic Areas
Which Region Leads The Patient Engagement Solutions Market?
In 2024, North America was the largest region in the patient engagement solutions market. However, Asia-Pacific is anticipated to be the fastest-growing region in the coming years. The report covers all major regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Patient Engagement Solutions Market Global Market Report?
Market Size Analysis: Analyze the Patient Engagement Solutions Market size by key regions, countries, product types, and applications.
Market Segmentation Analysis: Identify various subsegments within the Patient Engagement Solutions Market for effective categorization.
Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
Market Contribution: Evaluate contributions of different segments to the overall Patient Engagement Solutions Market growth.
Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
Industry Challenges: Analyze challenges and risks affecting the Patient Engagement Solutions Market.
Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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