Global Patient Engagement Solutions Market by Component (Services, Software) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global patient engagement solutions market was valued at USD 15.1 million in 2020. It is expected to grow at a compound annual rate (CAGR of 21.4%) between 2021 and 2028. Major drivers of the market are the growing use of eHealth records to provide patient-centric care, and the widespread adoption of mobile health technology. According to a survey by the NHS, approximately 92.0% feel confident in managing their own treatment.

Global patient engagement solutions have been developed because of factors such as the increasing burden of chronic diseases and the rise in the elderly population. According to the American Diabetes Association 2020, 1.5 million Americans have diabetes each year. Companies are working to develop patient-centric engagement strategies in response to the increasing number of diabetic patients. Roche launched a digital platform in December 2020 to help Thais manage their diabetes. There are approximately 4.3 million people with diabetes in Thailand. Only a third of these are being treated and analyzed. The digital platform of Roche Diabetes Care collects all patient-related data. It facilitates communication between patients, their healthcare team, and allows for easy access to that data. Programs like these can also be used to help with cost evaluation, operational effectiveness and clinical outcomes.

The global coronavirus pandemic is having unprecedented effects on our daily lives and the economy. Healthcare systems around the world are now facing a significant burden. Patients were seeking digital technology to assist them in adopting a product during the COVID-19 crisis, as healthcare providers struggled with increasing numbers of cases. Innovations in cloud computing and patient monitoring have been encouraged by the COVID-19 epidemic. GE Healthcare, for example, has unveiled a cloud-based remote monitoring tool that will allow clinicians to monitor ventilated COVID-19 patients.

The increasing number of smartphone users across the globe has accelerated the adoption of mHealth by both providers and consumers. Easy downloads of healthcare apps on smartphones are increasing. These apps can be linked to wearable devices, and support users in overall healthcare management. This has increased the trustworthiness of patients using mHealth apps. The COVID-19 pandemic will play an important role in the digital transformation.

Market growth will be affected by favorable government initiatives in the future. In 2018, for example, the FDA launched the Patient and Caregiver Connection Program. This program was designed to encourage patient advocacy, caregiver engagement, and monitoring of treatment. These solutions are also supported by government initiatives in India and other developing countries. Columbia Asia Hospitals in Malaysia, India and Indonesia launched in March 2019 a suite of patient engagement applications in collaboration with MphRx. This program is designed to digitally transform healthcare services, increase patient engagement, and foster clinical excellence.

Delivery Type Insights

In 2020, the web/cloud segment was the dominant market for patient engagement solutions. It held the largest revenue share at 80.0%. These portals are being adopted at an alarming pace due to their remote access to real time data tracking, integrated features and simple data backup.

Companies are now investing in cloud-based and web-based solutions for patient engagement. Microsoft Cloud for Healthcare, its first sector-specific cloud, was launched in May 2020 by Microsoft. This platform is designed to help providers improve patient engagement and collaboration among healthcare teams through features such as telehealth, data analytics, and telehealth.

On-premise services offer patient data security, retrieval and access ease. On-premise services are popular because they allow for complete access to information in the premises.

End-use Insights

In 2020, the providers segment was the dominant market for patient engagement solutions. It held 56.3% of the total revenue. This market is expected to experience significant growth over the forecast period. Improved utilization of routine care and patient portals, which allow patients to access information and make complex healthcare decisions, is a key factor in provider support.

In 2020, the payers segment accounted for the second largest revenue share. This is because payers use modalities that encourage widespread coverage and allow value-based care delivery. The payers plan to manage patient care and connect patients at every stage of treatment in order to increase growth.

Application Insights

In 2020, the largest revenue share was held by the health management segment. It dominated the market for patient engagement and had a dominating market share of more than 41.0%. The segment's main drivers are its ability to respond quickly and patient compliance. According to the National Coordinator of Health Information Technology, 51.0% U.S. hospitals offered online access for their patients in May 2019.

Home healthcare management is the segment that will grow the fastest during the forecast period. This solution allows patients to manage their appointments, pay bills online, and communicate with their healthcare providers from the comfort of their own homes.

Component Insights

Software dominated the market for patient engagement software and held the largest revenue share at 49.0% in 2020. It is easy to use and install, it is easy to get specific drug information, and it facilitates digital transfer of prescriptions. Software that helps patients engage with their healthcare providers is used in many areas, including home healthcare management and healthcare management. NextGen Office, Kareo, and athenahealth's cloud based EHR are some of the most popular patient engagement software. You can further categorize the software segment as standalone or integrated.

This service is crucial for the efficient operation of patient engagement solutions. This service allows for the use of advanced analytics, either on-premise or in cloud. It allows for the prediction and triggering of interventions that can be used live training methods. It also allows for personalized education that can be delivered to patients, which will increase adoption behavior. This segment can be further divided into education, consulting, implementation, and other.

Therapeutic Area Insights

In 2020, the market leader in patient engagement solutions was the chronic diseases segment. It held a significant revenue share of more than 43.0%. Patients with chronic conditions need training and monitoring. Patients can connect to their healthcare providers remotely through patient engagement solutions. This allows for a smooth flow of information and patient feedback. In November 2019, the CDC funded 13 state arthritis prevention and management programs that aim to improve quality of life and monitor rural arthritis patients.

The fastest-growing market segment is expected to be fitness during the forecast period. This market segment is expected to grow rapidly due to the rising need to improve the user experience, increased awareness regarding fitness and health, as well as the adoption of tracking apps and wearables. The market is also being driven by the increased use of remote work and better awareness regarding health monitoring due to the coronavirus pandemic.

Regional Insights

North America was the dominant market for patient engagement solutions and had the highest revenue share, with 38.0% in 2020. This dominance can be attributed to key drivers such as the adoption of EHR and mhealth, and the growing investment by major companies in patient engagement software. The growth is expected to be further accelerated by increasing public awareness and increased government spending in the healthcare sector. This region will dominate the market due to the widespread adoption of innovative technologies by the population.

The market in Europe held the second-largest share of 2020 revenue owing to the public funded systems such as the National Health Services in the U.K. By 2020, for instance, the NHS will be completely paperless and offer patient access to EHR by 2018. The market in Asia Pacific is expected to experience lucrative growth over the forecast period. Market growth is expected to be driven by the need to create new systems and replace or improve existing medical infrastructure. This region is also supported by the economic development of countries like India and China.

Market Share Insights & Key Companies

There are both large and small businesses in the market. The market is dominated by large players who are looking to implement new strategies such as geographic penetration and mergers and acquisitions. In September 2019, Cerner and GetWellNetwork partnered to reduce the gap between patients and providers, from the inpatient setting to the outpatient setting and home. This partnership aims to provide easy access and encourage consumer engagement. Many startups, including SaRa Health and Babyscripts, CoHealth and Roundtrip Health, My Haven Health, Advancing Synergy, Roundtrip Health, Roundtrip Health, Roundtrip Health, My Haven Health, Advancing Synergy, Ask Rose, and Roundtrip Health have emerged to compete with established players in the market. These are some of the most prominent players in patient engagement solutions:

• Allscripts Healthcare Solutions

• McKesson Corporation

• Orion Health Ltd.

• Cerner Corporation

• Phytel Inc.

• Medecision Inc.

• GetWellNetwork Inc.

• YourCareUniverse Inc.

• Lincor Solutions Ltd.

• Athenahealth, Inc.

Up Market Research published a new report titled “Patient Engagement Solutions Market research report which is segmented by Component (Services, Software), By Players/Companies Cerner Corporation, Lincor Solutions Ltd, Orion Health Ltd, Athenahealth Inc, McKesson Corporation, Allscripts Healthcare Solutions, YourCareUniverse Inc, Medecision Inc, GetWellNetwork Inc, Phytel Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Patient Engagement Solutions Market Report Segments:

The market is segmented by Component (Services, Software).

Patient Engagement Solutions Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Patient Engagement Solutions Market

Overview of the regional outlook of the Patient Engagement Solutions Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Patient Engagement Solutions Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Patient Engagement Solutions Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Services

                2. Software

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Patient Engagement Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Patient Engagement Solutions Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.