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Strong Growth Ahead: Patient Engagement Technology Market Size To Grow At Arecord 5.9% Cagr By 2029
Patient Engagement Technology Market
How Big Is the Patient Engagement Technology Market Size Expected to Be by 2034?
The market size of patient engagement technology has seen robust growth in the past few years. It is set to expand from $7.06 billion in 2024 to $7.47 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.8%. This impressive growth in the historical period is primarily due to the establishment of government protocols and initiatives that encourage patient-focused care, a surge in demand for patient engagement solutions in the wake of the pandemic, the increased adoption of mobile health applications, a growing number of collaborations and partnerships within healthcare stakeholders, and the expanding use of telehealth services.
Expected advancements in the patient engagement technology sector should lead to a significant market expansion in the coming years. The market value is projected to reach $9.39 billion by 2029, expanding at a compound annual growth rate (CAGR) of 5.9%. Factors attributing to the expansion during this forecast period include a shortage of proficient IT professionals, the need for patient data security, emerging technological advancements, an escalating demand for patient engagement solutions, as well as a rising inclination towards EHR and mHealth solutions. Prominent trends during this period include an increasing use of telehealth services, a transition towards patient-focused healthcare, a growing number of collaborations and alliances amongst healthcare stakeholders, and a surge in the prevalence of chronic diseases.
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What Are the Emerging Segments Within the Patient Engagement Technology Market?
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
Subsegments:
1) By Hardware: Patient Kiosks, Wearable Devices, Tablets And Mobile Devices, Telehealth Equipment
2) By Software: Patient Portal Software, Mobile Health Applications, Communication And Messaging Platforms, Telemedicine Software, Analytics Tools
3) By Services: Consulting Services, Implementation Services, Training And Support Services, Engagement Strategy Development
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What Long-Term Drivers Are Shaping Patient Engagement Technology Market Trends?
The surge in desires for remote healthcare services is predicted to boost the expansion of the patient engagement technology market. The need for remote care relates to the escalating necessity and anticipation for healthcare services that can be received distantly, eliminating the requirement for face-to-face visits to health clinics. Remote healthcare allows patients to approach healthcare services from their residences. This augmented accessibility and convenience culminate in elevated patient engagement, as people are more prone to dynamically partake in their healthcare when it is accessible and simplified. For example, a study conducted by Rock Health, a healthcare organization based in the US, in February 2023, revealed that 80% of all participants had utilized telemedicine services at some juncture, an increase of eight individuals from 72% in 2021. Additionally, a 9-person increase in telemedicine usage was reported by 82% in 2021, compared to the previous year. Hence, the burgeoning demands for remote care are fueling the expansion of the patient engagement technology market.
Who Are the Top Competitors in Key Patient Engagement Technology Market Segments?
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.
What Patient Engagement Technology Market Trends Are Gaining Traction Across Different Segments?
Leading corporations in the patient engagement technology market are leveraging cutting-edge technologies, such as ZAIDYN Connected Health, to augment their market earnings. ZAIDYN Connected Health is an AI-enabled platform crafted to support pharmaceutical firms, healthcare providers, and payers in contributing innovative solutions to the healthcare sector. For instance, ZS Associates, a US-based business consulting service company, launched this connected health technology in October 2023, to encourage medication compliance, manage chronic diseases, and facilitate early intervention in case of complications. The technology enables remote monitoring of patient health data, helping healthcare sector stakeholders identify gaps in treatment strategies and unmet patient requirements.
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Which Regions Are Becoming Hubs for Patient Engagement Technology Market Innovation?
North America was the largest region in the patent engagement technology market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Patient Engagement Technology Market?
2. What is the CAGR expected in the Patient Engagement Technology Market?
3. What Are the Key Innovations Transforming the Patient Engagement Technology Industry?
4. Which Region Is Leading the Patient Engagement Technology Market?
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