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Patient Engagement Solution Market

Global Market Study on Patient Engagement Solutions: Demand for Effective Patient Communication & Collaboration to Drive Market Growth

Patient Engagement Solutions Market Segmented By Solution such as Software and Services with Cloud and On-Premise deployment

Patient Engagement Solution Market Outlook (2023-2033)

The patient engagement solution market was valued at US$ 17,015.4 Mn in 2022, and by the end of 2033, it is projected to have grown to US$ 59,737.3 Mn. The market for patient engagement solution is estimated to valuate US$ 18,836.0 Mn in 2023, and is predicted to grow at a CAGR of 12.2% from 2023 to 2033.

Patient engagement is a strategy used in the healthcare system where patients, clinicians, and others work together to improve outcomes. Patients have access to up-to-date records on their most current health reports, dosages, and medications. The patient and the consultant can both use this software to manage their own healthcare and offer the necessary treatments. Cost-effective healthcare, increased patient outreach, fewer complications, lower hospital readmission rates, shorter hospital stays, and enhanced health care quality are a few advantages associated with patient engagement solutions. More interference is required by patient engagement strategies to motivate people to take part in patient education.

The global market for patient engagement solutions is being driven by rising government spending on healthcare and prescription drugs, as well as rising smartphone usage in consulting and healthcare. Additionally, the market as a whole has been impacted by expanding stakeholder alliances and stakeholder investment. Additionally, factors like the growing geriatric population and the frequency of chronic diseases have stimulated the creation of patient engagement solutions globally.

Government regulations and directives intended to enhance patient-centric care are anticipated to promote industry expansion. Governments all across the world are putting in place a number of regulations and programmes to promote the use of patient engagement technologies. New opportunities for this market are anticipated to arise in the coming years as a result of the growing usage of cloud-based systems in hospitals and clinics, as well as breakthroughs in wearable health technology and technological advancements. Additionally, it appears that the implementation of value-based healthcare programmes leads to better health outcomes, lower healthcare costs, and greater patient satisfaction, all of which are anticipated to lead to market expansion.

In terms of the regional market landscape, the market in North America held a leading market share of 28.7% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for patient engagement solution in the Europe region will hold around 20.5% of the market in 2022.

Patient Engagement Solution Market Size (2023)

US$ 18,836.0 Mn

Projected Market Value (2033)

US$ 59,737.3 Mn

Global Market Growth Rate (2023-2033)

12.2%

Standalone Software Segment Market Share (2022)

58.9%

U.S. Market Share (2022)

18.9%

On-Premise Segment Market Share (2022)

57.7%

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What restraints will Hamper the Growth of Patient Engagement Solution Market?

“Increased Investment in Healthcare Infrastructure for Implementing Patient Engagement Solution”

The players have invested a lot in proprietary systems and infrastructure. Cost-wise, it will present a number of obstacles for these organizations. Additionally, it will necessitate modifications to their existing systems, which are designed to handle only their current requirements. The current IT architecture would need to be altered if cloud-based patient engagement solutions were to be implemented, especially in hospitals that already serve as hubs that connect multiple physician labs and clinics.

  • In December 2021, Allied Digestive Health ADH selected Athenahealth US cloud based healthcare payments and patient engagement solutions to drive patient relations and revenue cycle excellence, thus supporting the organizations growth in coming years.
  • In December 2022, Happydemic Streamlines its Processes with Percipere and Cloud ERP from SAP, Happydemic went through an upgrade to its cloud landscape, powered by the partnership with Percipere. The company has completed the implementation of SAP Business by Design, a comprehensive cloud enterprise resource planning (ERP) system.
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In U.S Patient Engagement Solution Market is Developing?

“Implementation of Government Initiatives to Promote Patient Care”

The U.S. is the most lucrative market for patient engagement solution in the North American region and is expected to maintain this position across the forecast period as well. The demand for patient engagement solution in this country is witnessing significant development in the market such as initiatives to promote patient centric care. It also increase the flexibility for medicare to protect telehealth services in them. It authorizes for home health services by physician, nurse. Also it increase the medicare payments in hospitals and medical equipment’s.

In 2022, the U.S. patient engagement solution market helped the country to account for a dominant share of 18.9% in the global marketplace.

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Why Patient Engagement Solution Market in Japan Will Provide Growth Opportunities?

“Technological Advancement in Healthcare Sector of Japan”

The adoption of government initiatives that supports the adoption of HCIT solutions. Also rising expenditure on healthcare facilities and the presence of skilled IT experts. Also technological advancement in AI, IoT etc. For these reasons, the market for patient engagement solution was estimated to amount to 5.2% for the year 2022, but it has potential to grow over the forecast period.

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Why Adoption of Healthcare Management Services increases in Europe. Also which country Holds Largest Market Share?

“Adoption of Home Healthcare Management Services in Germany”

The availability of advanced patient engagement solution services enabled the growing adaptation of technology. The patient engagement solution allows patients to keep track of appointments, they can pay the bill online. Also they can communicate with healthcare providers from their home as per their comfort.

Due to adoption of home healthcare management services in patient engagement solution market in Germany held the market share of 9.10% in 2022.

Category-wise Insights

Why Technological Advancement in Standalone Software keeps it upfront?

The market is divided into integrated patient engagement software, standalone software and services. The standalone software accounted for 58.9% of the global market share and is expected to hold that position over the next ten years. The biggest market for reliable, unbiased, pertinent, and curated data is patient engagement software. Also, the software's seamless integration with electronic medical records gives users access to real-time clinical intelligence whenever and wherever they need it, making it suitable for both clinicians and patients.

What factors in On-Premise segment increase adoption in Patient Engagement Solution Market?

Based on deployment, the market is segmented into the on premise and cloud segment as well. In 2022, on premise accounted for 57.7% of the global market share and are expected to maintain their position over the next ten years. Due to the information within the premises and also the software installation and use are handled by the organization's infrastructure.

Thus, this would improve the overall quality of patient engagement solution products, enabling the market share to be held by this industry by a wide margin.

Competitive Landscape

Major patient engagement solution companies are collaborating and partnering with other organizations to provide more care.

  • On August 2021, Mckesson announced a strategic agreement with Merck that enables the two healthcare leaders to harness the power of real world evidence toward the common goal improving the outcomes from patients and developing the treatments for cancer.
  • In February 2021, Humana collaborated with IBM to deploy IBM Watson Assistant for Health Benefits it is an AI enabled virtual agent built in IBM Watson Heath Cloud. The Agent Health provides a better member experience while providing greater clarity and transparency on benefits and other related matters for Humana Employer Group Members.

Recent developments related to key players providing patient engagement solution market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Business Transcription Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • and GCC Countries

Key Market Segments Covered

  • Solution
  • Deployment
  • Application
  • End User

Key Companies Profiled

Pricing

Available upon Request

Key Segments of Patient Engagement Solution Market Industry Research

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

- Companies Covered in This Report -

  • Allscripts Healthcare Solutions
  • Mckesson Corporation
  • Cerner Corporation
  • Phytel Inc
  • Medecision Inc
  • Athenahealth Inc
  • Novartis
  • Roche Holding AG
  • Bayer
  • GlaxoSmithkline
  • IQVIA

- Frequently Asked Questions -

In 2022, the market value of patient engagement solution was US$ 17,015.4 Mn.

The global patient engagement solution market is estimated to advance at a 12.2% CAGR through 2033.

The market for patient engagement solution is forecasted to climb to US$ 59,737.3 Mn by 2033 end.

Demand for patient engagement solution market in China is projected to rise at a CAGR of 13.6% over the forecast period.

In 2022, the North America patient engagement solution market held a dominant market share of 28.7%.

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