Market Research Report
Patient Engagement Solutions Market with COVID-19 Impact Analysis, By Component, By Delivery Mode, By Therapeutics, By End User and By Region - Size, Share, & Forecast from 2021-2027
|Published by||AnalystView Market Insights||Product code||987632|
|Published||Content info||294 Pages
Delivery time: 2-3 business days
|Patient Engagement Solutions Market with COVID-19 Impact Analysis, By Component, By Delivery Mode, By Therapeutics, By End User and By Region - Size, Share, & Forecast from 2021-2027|
|Published: January 1, 2021||Content info: 294 Pages||
The global patient engagement solutions market was valued at USD 12.8 billion in 2020, growing with 15.3% CAGR during the forecast period, 2021-2027.
Patient engagement involves the communication between patients, doctors, and healthcare advisors through the online portal. Patient engagement solution services include complete service safety and quality to the patient. The growing awareness, expert knowledge in the healthcare sector is shared through online platforms to resolve the patients' problems.
The patient engagement solutions market is estimated to witness tremendous growth in the next few years, owing to the rising usage of electronic-based health data and the growing adoption of mobile devices. According to a survey done by NHS, around 92.0% of patients are satisfied with self-assessed managing treatment. The increasing older adult population and rising incidences of chronic disorders are projected to boost the market growth. According to CDC data, in 2017, around 1.3 million new diabetes cases had been registered in the U.S. Diabetic patients highly seek patient-centric engagement solutions. Additionally, the key players are focusing on providing self-management education to diabetes patients.
These engagement solutions enable self-care services which are highly adopted in remote places. fuel market growth. In addition, several factors such as operational effectiveness, better clinical outcomes, and cost evaluation are driving the market growth. Moreover, the supportive government initiatives and rising awareness about engagement solutions are also expected to foster market growth. For example, FDA has formed the Patient & caregiver Connection Program in 2018. This program is aimed at enhancing patient engagement and proving efficient evaluation in services.
The delivery mode segment is segmented into web-based/cloud-based and on-premise. The cloud segment dominated the market with the highest share in 2019. Further, the growing demand for value-based drugs is projected to offer ample growth opportunities for the market.
Depending upon the end-user category, the provider captured a significant revenue share in 2019. Growth is attributed to enhanced utilization of engagement solutions in daily routine patient management. However, the lack of health literacy may hinder the segment growth to a certain extent.
North America held the largest market share in 2019 and is expected to maintain its dominance in the market. The increasing adoption of engagement solutions like electronic health records (HER) and health is mainly contributing to market growth. Additionally, the rising government spending on developing healthcare facilities is also boosting the market growth. Europe is estimated to be the second-largest market due to the presence of developed healthcare services & solutions. The Asia Pacific is anticipated to witness considerable growth over the forecast period.
The patient engagement solutions market is moderately competitive in nature with the presence of international and local players. Key players including Cerner Corporation, Allscripts Healthcare Solutions, and Orion Health are holding the majority of the market share. Several companies in the industry focus on new product development, strategic mergers, and collaborations to expand their product portfolio. For instance, in 2019, Cerner Corporation has collaborated with GetWellNetwork to offer a convenient engagement solution.
Key features of the study:
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
List of Tables
List of Figures