New York, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The patient engagement solution market was valued at US$ 17.01 Billion in 2022, and it is expected to increase to US$ 59.73 Billion by the end of 2033. The market for patient engagement solutions is expected to be valued at US$ 18.83 Billion in 2023, with a CAGR of 12.2% from 2023 to 2033.
The Patient Engagement Solution Market is witnessing significant growth and transformation driven by various factors such as increasing healthcare costs, a shift towards value-based care, and the proliferation of digital health technologies.
Patient engagement solutions encompass a wide range of tools and strategies aimed at empowering patients to take an active role in managing their healthcare and improving communication between patients and healthcare providers.
Patient engagement solutions refer to a set of technologies, strategies, and tools that facilitate active involvement and communication between patients and healthcare providers. These solutions aim to improve patient education, enhance patient-provider interaction, promote self-care, and ultimately, contribute to better health outcomes.
Supercharge Your Business Strategy with Market Intelligence: Request Your Free Sample Copy Now@ https://www.persistencemarketresearch.com/samples/4221
The market's expansion is driven by several key factors, including:
- Increased Healthcare Costs: Rising healthcare costs have prompted a shift towards preventive care and value-based healthcare models. Patient engagement solutions help in early detection and prevention of diseases, reducing healthcare expenses.
- Digital Health Adoption: The proliferation of digital health technologies, including mobile health apps, wearable devices, and telehealth platforms, has created new opportunities for patient engagement solutions. These technologies enable patients to actively manage their health and interact with providers remotely.
- Regulatory Initiatives: Governments and regulatory bodies worldwide are promoting patient engagement to improve healthcare quality and reduce readmissions. Initiatives such as Meaningful Use (in the U.S.) and the European Union's eHealth Action Plan have accelerated the adoption of patient engagement solutions.
- Consumer Demand: Patients are becoming more proactive in managing their health and expect greater transparency, access to health information, and convenient communication with healthcare providers.
Market Segmentation
- By Solution:
- Software (Integrated Patient Software, Standalone Software, Scheduling Software, Billing Software, Secure Messaging Software, Others)
- Services (Implementation and Integration, Consulting, Support & Maintenance)
- By Deployment: (Cloud, On Premise)
- By Application: (Health Management, Social Management, Home Healthcare Management, Financial Health Management, Others)
- By End User: (Patients, Payers, Healthcare Providers, Others)
- By Region: (North America, Latin America, Europe, East Asia, South Asia Pacific, Middle East and Africa)
If You want to Purchase Specific Insights By Segment/Region/Competitor, Request For Customization@ https://www.persistencemarketresearch.com/request-customization/4221
Market Trends
Telehealth Integration The integration of patient engagement solutions with telehealth platforms is a growing trend. Telehealth allows patients to access healthcare services remotely, and the inclusion of patient engagement tools enhances the overall telehealth experience by providing features like virtual consultations, secure messaging, and remote monitoring.
Personalization Patient engagement solutions are increasingly using artificial intelligence (AI) and machine learning to provide personalized healthcare experiences. Tailoring content, reminders, and recommendations to individual patient needs and preferences improves engagement and adherence to care plans.
Mobile Health (mHealth) Adoption The widespread use of smartphones has fueled the adoption of mobile health apps. These apps offer features such as appointment scheduling, medication reminders, and health tracking, making it easier for patients to manage their health on-the-go.
Data Security and Privacy Data security and privacy concerns remain paramount in the patient engagement solution market. Compliance with regulations like HIPAA (Health Insurance Portability and Accountability Act) is essential to build trust among patients and healthcare providers.
Market Challenges
Data Integration Integrating patient engagement solutions with existing healthcare systems and electronic health records (EHRs) can be complex and costly, hindering adoption for some healthcare providers.
Interoperability Ensuring interoperability between different patient engagement tools and healthcare IT systems remains a challenge. Standardization efforts are ongoing to address this issue.
Patient Adoption Encouraging patients to actively use patient engagement solutions can be challenging. Some patients may lack digital literacy or motivation to engage with these tools effectively.
If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/4221
Competitive Landscape
The patient engagement solution market is highly competitive, with numerous vendors offering a wide range of solutions.
Top Key players in the market include: Allscripts Healthcare Solutions, Mckesson Corporation, Cerner Corporation, Phytel Inc, Medecision Inc, Athenahealth Inc, Novartis, Roche Holding AG, Bayer, GlaxoSmithkline, IQVIA
Recent Developments
- Mckesson and Merck established a strategic collaboration in August 2021, allowing the two healthcare titans to use the power of real-world evidence to improve patient outcomes and create cancer therapies.
- on February 2021, Humana and IBM collaborated to deliver IBM Watson Assistant for Health Benefits, an AI-enabled virtual agent created on the IBM Watson Health Cloud. Agent Health provides Humana Employer Group Members with a better member experience as well as enhanced clarity and transparency on benefits and other related topics.
Future Outlook
The patient engagement solution market is poised for continued growth in the coming years. Factors such as the increasing adoption of telehealth, the emphasis on personalized healthcare, and ongoing technological advancements are expected to drive market expansion.
Additionally, the post-pandemic era has accelerated the adoption of digital health solutions, including patient engagement tools, making them an integral part of the healthcare ecosystem. However, addressing challenges related to data integration, interoperability, and patient adoption will be crucial for sustained growth.
Other Trending Reports:
- Mobile Device Management Market Growth
- Network Traffic Analyzer Market Share
- Auto Repair Software Market Sale
- Enterprise Social Networks and Online Communities Market Revenue
- Datacenters Market Demand
- Clinical Communication and Collaboration Market Size
- Video PaaS Market Size
- Embedded Security Market Type
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
