Medgadget

Growing Prevalence of Chronic Diseases Drives Patient Engagement Solutions Market

Patient engagement solutions have become the need of the hour as the global population is experiencing an unfortunate rise in the incidence of chronic diseases. The prevalence of chronic diseases can be blamed on stressful lifestyles, poor habits, genetic predisposition, the growing pool of the aging population, and lack of development in several countries around the world. In times when deteriorating health conditions have to be monitored to contain epidemics and save lives, patient engagement solutions are proving their mettle by motivating patients to track their own health status. These advanced tools allow the patients to improve their health conditions by taking proper care in an organized fashion. The biggest advantage of patient engagement solutions is that they reduce the chances of re-admissions of patients in hospitals, thereby mitigating the financial burden on the payers.

The global patient engagement solutions market is segmented on the basis of delivery mode, end user, and geography. The modes of delivery used in the global patient engagement solutions market are self-hosted, application managed services, and software as a service (SaaS). The end users of patient engagement solutions are healthcare payers, hospitals and providers, and pharmaceutical companies. Geographically, this market is segmented into North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe.

North America to Remain Dominant in the Global Patient Engagement Solutions Market

Out of all the geographical segments of the global market, North America will hold the dominant share in the overall patient engagement solutions market across the globe. This trend will be complemented by the increasing government reforms and the growing demand for good quality of healthcare services. In addition to this, the growing trend of incentive-based payments for healthcare organizations and payers will also propel this market in North America.

Application Managed Services to Surge Ahead

Amongst the delivery modes, self-hosted solutions were the most popular form in 2014. However, this segment is expected to be taken over by the application managed services segment in the next few years. The remarkable growth of the application managed services segment will be attributable to the on-the-go services offered via PDAs and smartphones and the ease of access they come with.

Pharmaceutical Companies Show Growing Interest in Patient Engagement Solutions
The biggest users of patient engagement solutions in 2014 were hospitals and healthcare providers. However, research shows that the pharmaceutical companies segment of the global patient engagement solutions market will show a good growth rate in the near future as a large number of players will offer their services to keep up with the research and development requirements and to cut down on large investments.

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The sudden surge in pharmaceutical companies using patient engagement solutions is mainly due to efficiency they bring in. These solutions have allowed the companies to gather valuable feedback from physicians and patients about their prescribed drugs and medicines, which helps in evaluating the research and development of certain treatments.

Some of the important players in the patient engagement solutions market are McKesson Corporation, Medecision, Inc., Axial Exchange Inc., Phytel, Inc. (An IBM Company), Allscripts Healthcare Solutions, Emmi Solutions, LLC, Athena Health, Inc., GetWellNetwork Inc., and Orion Health Ltd. The growth of the global patient engagement solutions market is largely attributable to the phenomenal penetration of smartphones and other consumer electronics such as tablets and other wearables. These gadgets have brought large-scale commercialization of patient engagement solutions much closer, enabling easy access for those who need them.

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