The patient engagement solutions market is predicted to expand at a stellar growth rate over the forecast period from 2020 to 2030. Factors such as increasing utilization of electronic health records for patient-centric healthcare and rapid adoption of mobile devices for healthcare are creating massive opportunities in the patient engagement solutions market. According to a survey conducted by the NHS, in 2019, approximately 92 % patients felt to be empowered using self-managing treatment solutions.
Key parameters based on which the patient engagement solutions market is divided are delivery type, end user, application, component, therapeutic area, and region.
The report provides a holistic analysis of the patient engagement solutions market for the 2020 – 2030 forecast period. The report delves into demand dynamics, growth indices, trends, and opportunities that could influence the growth curve of the patient engagement solutions market over the assessment period. Lastly, the report examines the competitive landscape with valuable insights into growth strategies of key players in the patient engagement solutions market.
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Patient Engagement Solutions Market – Competitive Landscape
The patient engagement solutions market is a chock-a-block with both small and large companies demonstrating an intensely competitive vendor landscape. The entry of several startups in the patient engagement solutions space is likely to intensify competition in the patient engagement solutions market.
Keen players are engaged in inorganic and organic growth strategies to expand their footprint in the overall patient engagement solutions market. For example, in September 2019, Cerner and GetWellNetwork partnered to minimize communication gaps between healthcare service providers and patients from inpatient to outpatient settings and home care.
Prominent players operating in the patient engagement solutions market include;
- Allscripts Healthcare Solutions
- Orion Health Ltd.
- Phytel Inc.
- GetWellNetwork Inc.
- Lincor Solutions Ltd.
- Cerner Corporation
- McKesson Corporation
- Medecision Inc.
- YourCareUniverse Inc.
- Athenahealth Inc.
Patient Engagement Solutions Market – Key Trends
First and foremost, growing burden of chronic diseases and rise in the geriatric population is necessitating the adoption of technology-driven patient care solutions. For example, according to statistics of the American Diabetes Association, 1.5 million new diabetes cases were registered in the U.S. in 2020. To address such enormous increase in the number of diabetic patients, large healthcare technology companies are focused on developing patient-centered engagement solutions. For instance, Roche rolled out a digital platform in December 2020 to personalize diabetes management in Thailand.
The outbreak of COVID-19 has led to enormous burden on public healthcare systems worldwide. Healthcare institutions are grappling to provide patient care to the continuous rise in the number of coronavirus patient that need to be served on priority. This forced health service providers to put patients of chronic diseases on self-managing patient engagement solutions in the larger interest to contain the spread of coronavirus.
Patient Engagement Solutions Market – Regional Assessment
North America held the leading revenue among other key regions in the patient engagement solutions market in the recent past. Factors such as substantial use of mhealth services and widespread practices of electronic health records (EHR), and hefty investments by large companies for advancement of patient engagement solutions accounts for leading revenue share of the region. In addition, high awareness of electronic health records and government spending for continual modernization of healthcare accentuates growth in the patient engagement solutions market in the region.
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Europe trailed North America in terms of revenue share in the patient engagement solutions market in the recent past. The presence of a public healthcare system in some countries such as the U.K. which is majorly publicly funded is leading to rapid deployment of avant-garde healthcare systems including patient engagement solutions.
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