PUBLISHER: The Business Research Company | PRODUCT CODE: 1458586
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458586
AI in patient engagement refers to the utilization of artificial intelligence (AI) technologies to enhance patient care, improve patient experience, and foster health equity. AI can play a role in engaging patients through various means, including providing online support and education, automating reminders and alerts, delivering personalized health information, and analyzing patient data to identify trends and patterns to optimize healthcare delivery.
The main types of AI in patient engagement technologies are chatbots, natural language processing (NLP), and computer vision. Chatbots are AI-powered software applications designed to simulate conversation with human users, often via text or voice interfaces. These solutions can be delivered through both cloud-based and on-premises methods. The therapeutic areas where AI in patient engagement is applied include health and wellness, chronic disease management, and others. These technologies find applications in various areas, such as outpatient health management, inpatient health management, population health management, and others. The end-users include healthcare providers, payers, and other entities involved in patient care.
The AI in patient engagement market research report is one of a series of new reports from The Business Research Company that provides AI in patient engagement market statistics, including AI in patient engagement industry global market size, regional shares, competitors with a AI in patient engagement market share, detailed AI in patient engagement market segments, market trends and opportunities, and any further data you may need to thrive in the AI in patient engagement industry. This AI in patient engagement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The AI in patient engagement market size has grown exponentially in recent years. It will grow from $6.28 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. The growth observed in the historical period can be attributed to advancements in patient communication, an increasing demand for personalized healthcare solutions, widespread adoption of wearable devices, a heightened focus on patient-centered care, strengthened data security measures, and a rise in the incidence of chronic diseases.
The AI in patient engagement market size is expected to see exponential growth in the next few years. It will grow to $16.88 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The anticipated growth in the forecast period can be attributed to the rapid integration of AI in healthcare systems, the expansion of telehealth services, an increased emphasis on remote patient monitoring, ongoing development of AI-powered chatbots, and a surge in health data analytics. Noteworthy trends expected in the forecast period encompass the adoption of AI for predictive analytics in patient care, the integration of AI in electronic health records (EHR) systems, continuous technological innovations in AI, the provision of personalized healthcare solutions, and advancements in natural language processing (NLP).
The increasing demand for personalized healthcare solutions is anticipated to drive the growth of AI in the patient engagement market in the coming years. Personalized healthcare solutions, also known as personalized medicine, involve tailored medical treatments and preventive care strategies that take into account an individual's medical history, diagnostic testing, circumstances, and genetic information. AI plays a crucial role in patient engagement within the context of personalized healthcare solutions by employing data analysis and machine learning. This enables the customization of treatments, prediction of patient outcomes, and optimization of care plans based on individual factors such as genetics, lifestyle, and clinical history. In 2022, the Food and Drug Administration's Center for Drug Evaluation and Research (CDER) approved 37 new molecular entities (NMEs), out of which 35 were therapeutic. Notably, 12 of these therapeutic NMEs were classified as personalized medicines by the Personalized Medicine Coalition (PMC). This highlights the growing significance of personalized healthcare solutions and their role in driving the adoption of AI in the patient engagement market.
Key players in the AI patient engagement market are actively developing innovative products that leverage advanced technologies, such as AI-powered patient engagement tools, to gain a competitive edge. AI-powered patient engagement tools are instrumental in enhancing communication, providing personalized care, and actively involving patients in managing their health. For instance, in October 2023, ZS Associates, a US-based management consulting services company, introduced the AI-powered ZAIDYN Connected Health solution. This comprehensive patient engagement platform integrates AI-powered virtual assistants, personalized messaging, and actionable insights to elevate patient care and experience. The platform is designed to help healthcare organizations scale personalized support across all points of care, ensuring that patients receive timely and relevant information and resources.
In January 2021, GetWellNetwork, a prominent healthcare technology company headquartered in the United States, finalized the acquisition of Docent Health for an undisclosed sum. This strategic move is anticipated to facilitate the integration of Docent Health's tools into GetWellNetwork's existing suite of solutions, thereby bolstering its capacity to deliver a comprehensive digital patient engagement platform. By harnessing Docent Health's expertise in AI-driven patient experience and engagement, GetWellNetwork aims to enhance consumer engagement and provide a holistic, human-centered approach to addressing the fragmentation often observed in healthcare services. Docent Health, a US-based healthcare technology company renowned for its focus on patient experience and engagement powered by AI, was identified as an ideal partner to augment GetWellNetwork's capabilities in this vital aspect of healthcare delivery.
Major companies operating in the ai in patient engagement market report are ZS Associates, Health Catalyst, Viz.ai, Ada Health, Zocdoc, PathAI, Kyruus, Memora Health, HealthLoop, Qventus, Lark Health, Your.MD, Buoy Health, HealthTap, Welltok, Pillo Health, K Health, Mediktor, Clarify Health Solutions, Zebra Medical Vision, Sensely, Orbita, Ayasdi, Clinithink, WiserCare, Catalia Health, Conversa Health, Prevencio
North America was the largest region in the AI in patient engagement market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai in patient engagement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ai in patient engagement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The AI in patient engagement market includes revenues earned by entities by providing services such as patient recommendations, patient sentiments, patient payments, and electronic health record (EHR) analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in patient engagement market also includes sales of mobile devices, wearable devices, sensor devices, and smart home devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
AI In Patient Engagement Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on AI in patient engagement market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for AI in patient engagement? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The AI in patient engagement market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.