Patient Engagement Solutions Market Component (Hardware, Software, and Service), by Delivery Mode (Cloud-based, and On-Premise), by Application (Social Management, Fitness and Health Management, Home Healthcare Management, and Financial Management), and by End User (Healthcare Provider, Healthcare Payer, and Other)– Global Opportunity Analysis and Industry Forecast, 2024–2030

Patient Engagement Solutions Market Overview

The Global Patient Engagement Solutions Market size was valued at USD 21.68 billion in 2023 and is predicted to reach USD 59.20 billion by 2030 with a CAGR of 15.4% from 2024-2030. The patient engagement solutions market refers to tools and strategies employed by healthcare providers and organizations to actively involve patients in their own healthcare. These solutions aim to enhance communication, encourage participation, and empower patients to take a more active role in managing their health. In the healthcare industry, patient engagement solutions include technologies such as mobile apps, online portals, and communication platforms that facilitate information sharing, appointment scheduling, and health monitoring. The goal is to foster a collaborative relationship between healthcare providers and patients, ultimately leading to better health outcomes and a more satisfying patient experience.

Market Dynamics and Trends

The integration of advanced technologies, including artificial intelligence (AI) and the Internet of Things (IoT), into electronic health records (EHRs) is driving the growth of the market. This integration is designed to collect patient health and wellness data from diverse healthcare providers. For example, in October 2023, Charm Health introduced an AI tool called Chart Note Assist.

This tool enhances the diagnostic and treatment capabilities of physicians, showcasing a significant advancement in AI integration within the healthcare sector. By leveraging this AI tool, physicians can efficiently gather healthcare data and information, enabling the delivery of a more personalized care experience for patients.

Furthermore, the increasing awareness of cardiovascular diseases (CVDs), including coronary heart disease, peripheral arterial disease, and stroke among the geriatric population is driving the growth of the patient engagement solutions market demand. This heightened awareness is leading to a significant shift towards the adoption of patient engagement solutions.

As of 2022, a report published by the American College of Cardiology (ACC) revealed that the global death counts attributed to CVDs surged to 19.8 million. This alarming statistic highlights the urgent need for effective patient engagement solutions to address and mitigate the impact of cardiovascular diseases on a global scale.

However, technological barriers with limited access to technology among aged patients, face challenges in using and adapting to patient engagement solutions is restraining the growth of the market. On the contrary, integration of blockchain technology into the patient engagement solution which provides a decentralized and secure way to store and share health information is expected to create future growth opportunities for the market.

For instance, in March 2022, UST, a global digital transformation solutions company partnered with Well-Beat, an Israeli startup, to develop a new digital patient engagement SaaS solution. The solution is built on patented blockchain technology and dynamically adapts to patients' behavior patterns to make clinical encounters more effective. Moreover, this solution works with existing Electronic Health Record (EHR) systems and connected devices, without requiring changes to clinical workflows or onboarding to a new platform.

Market Segmentation and Scope of Study

The patient engagement solutions market report is segmented on the basis of component, delivery mode, application, end-user, and region. On the basis of component, the market can be divided into hardware, software, and services. On the basis of delivery mode, the market is classified into cloud-based, and on-premise. On the basis of application, the market is segmented into social management, fitness and health management, home healthcare management, and financial management. On the basis of end user, the market is segmented into healthcare provider, healthcare payers, and other. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North-America dominates the patient engagement solutions market share and is expected to continue its dominance during the forecast period. This is attributed to factor such as growing demand for advance digital and virtual health solution in countries including U.S. and Canada to provide on-demand medical service to the patient in this region. 

For instance, in January 2023, CVS Health introduced telehealth-based mental health care services, offering appointments with licensed therapists and psychiatrists. This strategic initiative serves to bolster patient engagement significantly by expanding access to virtual care options, addressing both primary care and mental health needs within the region.

Also, the presence of prominent market players in patient engagement solutions including IBM, Medtronic, Oracle Health (Cerner), and others boost the market growth. These companies are adopting various market strategies such as collaboration and product launches to enhance their dominance as well as market growth in the region.

For instance, in September 2023, FluidAI Medical collaborates with Medtronic for remote monitoring through the Continuous Connected Patient Care project, enhancing patient engagement solutions. This collaboration between FluidAI Medical and Medtronic aims to leverage digital solutions for continuous patient monitoring, contributing to advancements in patient engagement within the healthcare sector.

On the other hand, Asia-Pacific witnesses a steady rise in patient engagement solutions industry due to the rapid expansion of healthcare IT in countries including India and China to improve healthcare access, quality, and patient engagement in the region.

For instance, in January 2024, Shenzhen Mindray Bio-Medical Electronics, a Chinese medical device firm, aims to acquire APT Medical for USD 927 million, expanding its presence in the overall Market. This move enhances Mindray's capabilities in delivering innovative healthcare solutions.

Furthermore, the growing incidence of chronic diseases such as diabetes, high blood pressure levels, high LDL, cholesterol levels and other cardiovascular diseases (CVDs) in the emerging countries such as India and China further propelled the patient engagement solutions market growth.

As per WHO report, about 77 million people above the age of 18 years are suffering from diabetes (type 2) in the country presently and almost 25 million people are in pre-diabetes status, denoting they are at higher risk of developing diabetes in future. This concerning health situation points towards urgency of having right patient engagement solutions to fight this constantly increasing threat of cardiovascular diseases in the region.

Competitive Landscape

The patient engagement solutions industry comprises various key players including Medtronic, Allscripts Healthcare LLC, LG, IBM, Athena Health, Epic Systems Corporations, Press Ganey, Maxim Software Systems, Orion Health, Salesforce, and others. These market players are adopting various strategies such as product launches to maintain their dominance in the market. 

For instance, In September 2023, Orion Health launches Virtuoso, a healthcare AI-enabled patient navigation platform, providing personalized guidance and advice on available care. This innovation enhances patient engagement solutions by leveraging artificial intelligence for improved healthcare navigation.

Also, in August 2023, LG's launch of patient engagement boards signifies a technological innovation within the patient engagement solutions market, contributing to improved patient engagement and care delivery in hospital settings.

Moreover, in June 2023, Maxim Software Systems launched EngageB, a patient engagement solution designed specifically for dental clinics. The innovative software aims to enhance patient communication and experience in dental settings, contributing to improved overall oral health outcomes.

Key Benefits

• The report provides quantitative analysis and estimations of the patient engagement solutions market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the current and future patient engagement solutions market trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the patient engagement solutions market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Patient Engagement Solutions Market Key Segments

By Component

• Hardware

• Software

• Services

By Delivery Mode

• Cloud-Based

• On-Premise

By Application

• Social Management

• Fitness and Health Management

• Home Healthcare Management

• Financial Management 

By End User

• Healthcare Providers

• Healthcare Payers

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• Rest of the World

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

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