Patient Engagement Solution Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Patient Engagement Solution Market is segmented by Component, Delivery Mode, Application (Social Management, Fitness and Health Management, Home Healthcare Management, Financial Management), End User, and Geography.

Market Snapshot

Patient Engagement Solution Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 10.5 %

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Market Overview

The Patient Engagement Solution Market is poised to grow at a CAGR of 10.5% in the forecast period.

Patient engagement solutions are a key part of mobile health technology. Healthcare providers engage with patients during routine exams and when problems arise. Patient engagement solutions offer frequent monitoring of patient health and compliance, with real-time reporting to clinicians and rapid feedback to the patient. Ultimately, this can result in fewer office visits, procedures, and hospitalization.

The rising trend of using mobile applications has boosted the growth of this market. Moreover increased prevalence of chronic diseases and efforts by the government to create awareness about the engagement solutions have further helped this market to grow in the forest period. Due to these factors, the market has been attracting investors, which is further helping this market to grow.

But, as this sector is new in healthcare, there is a lack of IT professionals in this industry. Also, online patient data is like an open treasure and hence raises security concerns. These factors are hence restraining this market's growth.

Scope of the Report

In the report, a detailed analysis of the Patient Engagement Solutions Market is provided. The market is evaluated by collating revenues generated across segments, categorized by component, delivery mode, application, therapeutic area, end-user, and geography.

By Component
Hardware
Software
Service
By Delivery Mode
Web-based and Cloud-based
On-Premise
By Application
Social Management
Fitness and Health Management
Home Healthcare Management
Financial Management
By End User
Provider
Payer
Patient
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Application in Fitness and Health Management is expected to Register a High Growth Rate in the Forecast Period

mHealth is an important tool for improving patient engagement because so much of the technology is already consumer-facing. From fitness trackers and patient portals to smartphone apps and home monitoring equipment, mHealth permeates patients’ everyday lives. When these tools are easily available through a smartphone or a wearable sensor on a wrist, they can ideally lead patients to monitor  their health and even interact with their providers every day.

Moreover, the need for these technologies is increasing due to increasing morbid conditions like obesity. In many countries, especially developed countries, the prevalence of obesity is high. For instance, as per NCHS, National Health and Nutrition Examination Survey, 2017–2018, the prevalence of obesity among adults aged 20 and over in the United States. Obese carries various health risk factors, including death in severe cases. Patient engagement solutions for fitness and health hence very important to track the obesity. This factor is hence expected to help the market growth.

Obesity

North America dominates the patient engagement solutions market

As per the report of Centres for Medicare and Medicaid Services (CMS), the healthcare spending in the United States has been increased by 4.3% and per person, health spending was USD 10,348. Around 17.9% of the total GDP is spent on healthcare in the country. Canada is not far behind, with an expenditure of about 11% GDP on healthcare, according to OECD data.

While considering hospitals as a major component of the health industry, its development is done with the help of novel technologies and services, such as patient engagement solutions, which help in the management of operations related to patient health in these developed countries. Being an integral part of the hospitals and for the ease of access to the patient's health with a better connection to the same, patient engagement solutions are majorly utilized in these countries.

Due to the higher adaptability of innovative technologies and raising awareness among the general population about health, this region is expected to dominate the patient engagement solutions market.

Patient Engagement

Competitive Landscape

As this is a relatively new market, this market is experiencing some new players. Most of the players are based in developing counties due to more technological advancements. But due to the ease of connectivity in modern times, these players have also penetrated developing countries and are trying to establish a market in these countries as well. Some new players are emerging from developing counties as well.

Moreover, many new startups including My Haven Health, Ask Rose and Advancing Synergy have been emerging to compete with the established companies in the sector

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Trend of Mobile Health Applications

      2. 4.2.2 Growing Popularity of Patient Engagement Solutions Among the Aging Population

      3. 4.2.3 Rising Investments and Technological advancements

    3. 4.3 Market Restraints

      1. 4.3.1 Protection of Patient Information

      2. 4.3.2 Lack of Skilled IT Professionals in the Healthcare Industry

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Hardware

      2. 5.1.2 Software

      3. 5.1.3 Service

    2. 5.2 By Delivery Mode

      1. 5.2.1 Web-based and Cloud-based

      2. 5.2.2 On-Premise

    3. 5.3 By Application

      1. 5.3.1 Social Management

      2. 5.3.2 Fitness and Health Management

      3. 5.3.3 Home Healthcare Management

      4. 5.3.4 Financial Management

    4. 5.4 By End User

      1. 5.4.1 Provider

      2. 5.4.2 Payer

      3. 5.4.3 Patient

      4. 5.4.4 Other End Users

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia-Pacific

      4. 5.5.4 Middle-East and Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle-East and Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Allscripts Healthcare Solutions, Inc.

      2. 6.1.2 Athenahealth, Inc.

      3. 6.1.3 Cerner Corporation

      4. 6.1.4 IBM

      5. 6.1.5 Lincor Solutions

      6. 6.1.6 Mckesson Corporation

      7. 6.1.7 Medecision, Inc.

      8. 6.1.8 Orion Health Ltd.

      9. 6.1.9 Welvu

      10. 6.1.10 Yourcareuniverse, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Patient Engagement Solution Market market is studied from 2018 - 2026.

The Patient Engagement Solution Market is growing at a CAGR of 10.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Allscripts Healthcare Solutions Inc, Athenahealth Inc, Cerner Corporation, IBM, Mckesson Corporation are the major companies operating in Patient Engagement Solution Market.

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