Press release
Patient Engagement Solutions Market is Expected to Reach $41.8 Billion | MarketsandMarkets Trademark
North America dominates the patient engagement solutions market. This market is projected to reach USD 23.4 billion by 2028, at a CAGR of 12.4% during the forecast period
Patient Engagement Solutions market [https://www.marketsandmarkets.com/Market-Reports/patient-engagement-solutions-market-105975994.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $41.8 Billion in 2023 and is poised to reach $41.8 Billion by 2028, growing at a CAGR of 13.2% from 2023 to 2028 according to a latest report published by MarketsandMarkets Trademark . The market's growth is fueled by an escalating demand for patient engagement solutions and a growing prevalence of collaborations and partnerships among stakeholders. Nevertheless, challenges such as insufficient interoperability among healthcare providers and concerns regarding the protection of patient information are anticipated to impede the market's growth throughout the specified forecast period.
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Based on components, the patient engagement solutions market is bifurcated into software, hardware, and services. The software segment accounted for the largest share of the global patient engagement solutions market in 2022. The hardware is further divided into in-room televisions, integrated bedside terminals/assisted devices, and tablets. The software market is segmented into standalone software and integrated software. The integrated software segment accounted for the largest share of the market in 2022, and this segment is also anticipated to grow at the highest CAGR during the forecast period.
However, the services segment is anticipated to grow at the highest CAGR during the forecast period. The high growth of the services segment can be due to the services component being necessary for the application of deployed solutions. In addition, increasing investments in developing innovative service models that offer value-based patient-centered care also drive the market growth for services.
Based on delivery mode, the patient engagement solutions market is bifurcated into on-premise and cloud-based/web-based modes. The on-premise mode segment accounted for the largest share of the global patient engagement solutions market in 2022. However, the cloud-based/web-based mode segment is estimated to register the highest CAGR during the forecast period. The flexibility, scalability, and affordability provided by cloud-based solutions are supporting its increase in the patient engagement solutions market. The growing embrace of these solutions is driven by factors such as remote access to real-time data tracking, integrated features, seamless accessibility, minimal handling costs, and straightforward data backup. This has spurred companies to invest significantly in patient engagement solutions that are web-based and leverage the cloud for enhanced efficiency.
Categorized by application, the patient engagement solutions market is divided into health management, home health management, social and behavioral management, and financial health management. In 2022, the health management applications segment held the largest share of the global patient engagement solutions market. Factors such as increasing awareness among patients about the obstacles of their disease conditions and their willingness to participate in maintaining their health actively are a few factors driving market growth.
Based on therapeutic areas, the patient engagement solutions market is bifurcated into chronic diseases, women's health, fitness, and other therapeutic areas. Chronic diseases are further divided into cardiovascular disease, diabetes, obesity, and other chronic diseases. The chronic diseases segment holds the largest share of the global patient engagement solutions market in 2022. Factors such as the high burden of chronic diseases, an increasing problem in the treatments, and the requirement to successfully manage these conditions while reducing overall healthcare costs are some of the key factors driving market growth.
Based on functionality, the patient engagement solutions market is bifurcated into E-prescribing, telehealth, patient/client scheduling, document management, patient education, billing & payments, and other functionality. The patient/client scheduling segment hold the largest share of the global patient engagement solutions market in 2022. Factors such as risen productivity through proper scheduling of appointments and digitization in the healthcare process are driving market growth.
Based on end users, the patient engagement solutions market is bifurcated into payers, providers, patients, and other end users. The providers are further divided into hospitals and healthcare systems, ambulatory care centers, home healthcare, and other providers. The payers are further divided into private and public. The providers' segment accounted for the largest share of the global patient engagement solutions market in 2022. Providers progressively adopt patient engagement solutions to curtail expanding healthcare costs, offer value-based care, and improve financial outcomes. Patient engagement solutions also help providers enhance the patient experience, meet the expanding demand for appropriate access to health information, and better serve patients to self-manage their care.
Based on region, the patient engagement solutions market is bifurcated into five major regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the largest share of the global patient engagement solutions market in 2022. The growth of the patient engagement solutions market in North America is propelled by the increasing prevalence of chronic diseases, supportive government initiatives, reduced healthcare costs, and the presence of key market players in the region. In the Asia Pacific, the market is anticipated to achieve the highest Compound Annual Growth Rate (CAGR) during the forecast period, driven by the rising adoption of Healthcare Information Technology (HCIT) solutions and the increasing prevalence of chronic diseases in the region.
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Patient Engagement Solutions market major players covered in the report, such as:
* McKesson Corporation (US)
* Veradigm (US)
* Oracle Corporation (US)
* Merative (US)
* AdvancedMD (US)
* CureMD Healthcare (US)
* eClinicalWorks (US)
* Epic Systems Corporation (US)
* Oneview Healthcare (Ireland)
* Orion Health (New Zealand)
* GetWellNetwork (US)
* athenahealth (US)
* MEDITECH (US)
* IQVIA (US)
* Get Real Health (US)
* Cognizant (US)
* Harris Healthcare (US)
* Kareo (US)
* and Lincor Solutions (US)
* Luma Health Inc. (US)
* WellStack(US)
* Vivify Health (US)
* Medhost (US)
* MEDISYSINC (US)
* Patient point LLC (US)
* and Among Others
This report categorizes the Patient Engagement Solutions market into the following segments:
Patient engagement solutions market, By component
* Hardware
* In-room televisions
* Integrated bedside terminals/Assisted devices
* Tablets
* Software
* Standalone Software
* Integrated Software
* Services
Patient engagement solutions market, By Delivery Mode
* On-Premise Mode
* Cloud-Based Mode
Patient Engagement solutions market, by Application
* Health management
* Home health management
* Social & behavioral management
* Financial health management
Patient engagement solutions market, By Therapeutic area
* Chronic diseases
* Cardiovascular diseases (CVD)
* Diabetes
* Obesity
* Other chronic diseases
* Women's health
* Fitness
* Other Therapeutic Areas
Patient engagement solutions market, By Functionality
* Introduction
* E-Prescribing
* Telehealth
* Patient/Client Scheduling
* Document Management
* Patient Education
* Billing & Payments
* Others Functionality
Patient engagement solutions market, By End user
* Providers
* Hospitals and healthcare system
* Ambulatory care centers
* Home healthcare
* Other Providers
* Payers
* Private
* Public
* Patients
* Other End users
Patient engagement Solution Market, By Region,
* North America
* US
* Canada
* Europe
* Germany
* France
* UK
* Spain
* Italy
* Rest of Europe
* Asia Pacific
* Japan
* China
* India
* Rest of Asia Pacific
* Latin America
* Brazil
* Mexico
* Rest of Latin America
* Middle East & Africa
* GCC Countries
* Rest of Middle East & Africa
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