Patient Engagement Solutions Market Overview
Driven by the rising demand for enhanced patient involvement, patient engagement solutions are capturing substantial interest from healthcare stakeholders.
The global Patient Engagement Solutions Market size is estimated to grow from USD 11.4 billion in 2023 to USD 96 billion by 2035, representing a CAGR of 19.44% during the forecast period 2023-2035.
Patient engagement solutions are innovative tools and strategies designed to actively involve patients to access, manage, and participate in their health and well-being. By leveraging technology and digital platforms, patient engagement solutions enhance communication, information sharing, and collaboration between patients and healthcare providers.
Additionally, through secure messaging systems, virtual consultations, and telehealth services, patients can communicate with their providers, seek guidance, and receive necessary support, irrespective of geographical barriers. Further, by promoting patient education, adherence to treatment plans, and self-management, patient engagement solutions help reduce hospital readmissions, improve health outcomes, and optimize resource utilization.
Patient Engagement Solutions Market Segmentation
Key segments of Patient Engagement Solutions Market are Distribution by Deployment Option (Cloud-based Solutions, On-Premise Solutions and Web-based Solutions), Type of Solution Offered (Appointment Management Solutions, Electronic Health Record Integration Solutions, Patient Education Solutions, Remote Patient Monitoring Solutions and Other Solutions), Application Area (Financial Health Management, Fitness and Wellbeing, Home Health Management, Research and Development and Social Health Management), End-user (Healthcare Providers, Individuals, Payers and Other End-users), and Key Geographical Regions (North America, Europe, Asia, Middle East and North Africa, and Rest of the World).
Patient engagement solutions have revolutionized the healthcare industry, empowering a new healthcare method for both healthcare providers and patients. Driven by the growing technological innovation and rising demand for virtual healthcare, the patient engagement solutions market is anticipated to witness a healthy growth in the foreseen future.
The continuously growing healthcare industry has inadvertently led to an increase in the demand for patient engagement solutions. As a result, the scope of home health is increasing with time, along with increasing demand for virtual healthcare through telehealth. Patient engagement solutions are advanced solutions which involve more patient centric and personalized approach to healthcare journey, also includes features like electronic health record integration, prescription refills, medication adherence and remote patient monitoring. We identified close to 420 companies that are involved in offering various patient engagement solutions.
Patient Engagement Solutions Market Key Players
Key players in this domain are athenahealth, Coviu, GetWellNetwork, Health Catalyst, MediBuddy, Mocero Health, Orion Health, Physitrack, SolvEdge, Veradigm, Well-Beat and Wolters Kluwer.
Web-based solutions are the prominent type of deployment option offered by majority (93%) of the patient engagement solutions, followed by 78% of Solutions offering Cloud-based solutions and 13% offers On- Premise solutions. It is worth highlighting that the majority (94%) of the patient engagement solutions offer chatbots / messaging as their component offered, followed by 84% of the solutions using real time data sharing. Further, home health management is the prominent type of application area offered by the majority (98%) of solutions.
Additionally, 70% of the solutions provide customization features to its services. The patient engagement solutions market is highly fragmented, featuring the presence of small 43%, mid-sized 39%, large 14% and very large companies 4%. Further, the majority 77% of the companies are based in North America, followed by those headquartered in Europe and Asia 10% each. This can be attributed to the advanced healthcare infrastructure offered by these geographies.
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