Global Patient Engagement Solutions Market Analysis
The patient engagement solution integrates a patient’s information, abilities, capacity, and desire to control their own wellness with health professional communications aimed at encouraging good behaviors.
The global patient engagement solutions market is projected to reach US$ 80.1 million by the end of 2027, with a value of US$ 20.0 million in 2020.
Request Here Free Sample Copy of Report
During the forecast period, the global patient engagement solutions market is predicted to increase due to the increasing burden of cancer conditions. As per the American Cancer Society, there will be 1,762,450 new cancer cases reported and 606,880 cancer fatalities in 2019.
Furthermore, the global patient engagement solutions market is projected to benefit from the growing elderly population. The elderly population in the U.S. is anticipated to reach 77 million by 2034, as per the United States Census Bureau.
In terms of value, the on-premise delivery method dominated the global patient engagement solutions market in 2019, contributing for 45.3 percent market share, trailed by Software as a Service and Application Managed Service.
The global patient engagement solutions market is anticipated to be hampered by database security concerns. Data breaches are a concern with cloud computing. Due to its hypervisor, virtual cloud systems can pose a security risk.
Furthermore, the global patient engagement solutions market is projected to be hampered by a shortage of IT knowledge, particularly in emerging nations.
- According to the mode of delivery: Application Managed Service, On-Premise, and Software as a Service.
- According to the end user: Clinics, Private/Public healthcare institutions, and Hospitals.
For participants in the global patient engagement solutions market, rising expenditure in digital patient interaction is projected to provide attractive development possibilities. SeamlessMD secured $4 million in a Series A fundraising round headed by MEDTEQ+ in August 2020, increasing its total investment to $7.4 million.
Furthermore, the global patient engagement solutions market’s growth is projected to be aided by increased use of clinical care services. Nova Southeastern University has chosen Healthy Outcomes to organize engagement throughout their medical organization, according to InteliChart.
From 2020 to 2027, the global patient engagement solutions market is expected to grow at a CAGR of 21.9 %, from US$ 16.6 million in 2019 to US$ 80.1 million in 2027.
To increase their product range, leading players in the global patient engagement solutions market are focusing on M&A tactics. Pomelo Health (previously Chronometriq) purchased Health Myself, a healthcare management firm, in June 2020.
The global patient engagement solutions market is anticipated to rise due to increased use of patient engagement services. Radix Health and Holyoke Health Center, a federally designated community health center serving communities, established a collaboration in August 2020 under which the health center would utilize Radix Health’s DASHconnect to manage session booking and client alerts.
Key companies contributing in the global patient engagement solutions market are Orion Health, iMD Health Global Corp., Athenahealth, Inc., InteliChart, Phytel, Inc., Cerner Corporation, eVideon, Medecision, SeamlessMD, Pomelo Health, GetWellNetwork, Inc., Radix Health, RingCentral, Axial Exchange, and Emmi Solutions LLC.
To increase their product range, major players in the global patient engagement solutions market are focusing on collaboration tactics. Radix Health and APDerm, a group of patient-centered dermatological specialists, announced a partnership in August 2020 to launch a digital front door that includes most aspects of the patient experience, including provider discovery, appointment, interactions, and digital access.
Likewise, RingCentral announced a partnership with ENT and Allergy Associates, LLP in September 2020 under which the latter will use RingCentral’s Contact Center solution to interact with patients and provide the best patient services, while allowing Patient Rapid Response Center (PRRC) employees to work from anywhere, increasing flexibility.
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027