Patient Engagement Solutions Market with Lucrative Growth to Reach $74.28 Billion by 2030, Government Initiatives & Rise in Chronic Diseases to Play a Key Role.

The Global patient engagement solutions market in 2021 was $13.42 billion and will be worth $74.28 billion by 2030, growing at a 20.93% CAGR from 2021 to 2030.

Solutions for patient engagement provide greater communication between patients and the medical staff and assist patients in managing their healthcare information. Offering the required resources can help you manage the patient's health more effectively. Patients can aid in efficient self-care with quick and improved access to healthcare professionals and personal healthcare information. 

 

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Patient Engagement Solutions Global Market Insights: 

• The web and cloud-based segment accounted for a revenue share of more than 75% in 2021 on the basis of delivery type.
• With a revenue share of 60%, the software and hardware segment ruled the overall patient engagement solutions market on the basis of components.
• In 2021, the communication segment held a prominent position with a revenue share of 35% in terms of functionality.
• On the basis of therapeutic area, in 2021, chronic disease management ruled the market with the largest share of nearly 40%.
• By application, outpatient health management led the market in 2021 with a revenue share of 35%.
• In 2021, the providers contributed the largest market share of more than 45% based on end-user.
• Geographically, in 2021 North America led the market with a revenue share of nearly 35%.

 

Patient Engagement Solutions Market Dynamics

The growing interest in mobile health, an aging population, and government incentives are driving demand for patient engagement solutions. The expansion of the market for patient engagement solutions has been significantly hindered by the low level of health literacy. Furthermore, there will be greater opportunities for value-based medications due to increasing peer pressure and a radical change toward patient-specific solutions.

 

The market for patient engagement solutions has grown due to the rising use of mobile applications. Furthermore, the increased prevalence of chronic diseases and government objectives to create awareness about engagement solutions have assisted the growth of this market over the projection period. These elements have drawn investors, facilitating the market's expansion for patient engagement solutions. However, since this is a new area of healthcare, there aren't many people working in information technology there. Online patient data is also handled like a public treasure, which creates security issues. These restrictions consequently prevent the market for patient engagement products from growing.

 

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Patient Engagement Solutions Market: A thorough Segmentation Analysis

The worldwide Patient Engagement Solutions Market segmentation has been done on the basis of delivery type, functionality, component, therapeutic area, application, end-user, and region.

 

By Delivery Type:

• Web and Cloud Based
• On-Premise

By Component:

• Services
• Software and Hardware

By Functionality:

• Administrative
• Billing & Payments
• Health Tracking & Insights
• Communication
• Patient Education
• Others

By Therapeutic Area:

• Health & Wellness
• Chronic Disease Management

By Application:

• Population Health Management
• Inpatient Health Management
• Outpatient Health Management
• Others

By End-User

• Payers
• Providers
• Others

 

By Region

North America

• Canada
• United States

Europe

• Sweden
• United Kingdom
• Russia
• Spain
• Germany
• France
• Italy
• Rest of Europe

Asia Pacific

• Japan
• India
• South Korea
• China
• Australia
• Rest of Asia Pacific

LAMEA

• United Arab Emirates
• Argentina
• Brazil
• Saudi Arabia
• Israel
• South America
• Mexico
• Rest of LAMEA

 

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On the basis of therapeutic area, in 2021, chronic disease management ruled the market with the largest share of nearly 40%. The substantial share of the segment has been attributed to the growing older population in important markets, the incidence of chronic conditions, and the uptake of digital technology spurred by the COVID-19 pandemic. Solutions for patient engagement help manage chronic diseases by making it easier to avoid and diagnose illnesses and treat them with a doctor or on their own.

 

Geographically, in 2021 North America led the market with a revenue share of nearly 35%. The major share of this region's market is due to the increased mHealth and EHR usage, the existence of important players, and rising large company investment in patient engagement software. Additionally, it is anticipated that rising awareness levels and government spending in the healthcare industry will speed up growth. As a result of publicly supported institutions like the National Health Services (NHS) in the U.K., Europe had the second-largest proportion in 2021. 

 

Key players in Patient Engagement Solutions Market:

• MEDHOST
• Cerner Corporation
• Solutionreach, Inc.
• Epic Systems Corporation
• McKesson Corporation
• Allscripts Healthcare, LLC
• Nuance Communications, Inc.
• Athenahealth, Inc.
• CPSC
• Koninklijke Philips N.V.
• Experian Information Solution, Inc.
• NextGen Healthcare, Inc
• IBM
• Epic Systems Corporation Klara Technologies, Inc.
• Reed

The market size for Patient Engagement Solutions will experience considerable expansion from 2021 to 2030 due to the growing adoption of digital technologies in the healthcare industry. The main drivers of market expansion include the rising adoption of smartphones and mobile health (mHealth) to facilitate better inpatient treatments.

 

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