About the Report
The global patient engagement solution market is anticipated to top a valuation of US$ 25 Bn by 2021, and expand at an impressive CAGR of around 21% over the forecast period of 2021 to 2031.
The market has been progressing at rapid pace over past few years. The key reason behind the market growth has been the continuously rising chronic disease.
In response to growing number of diseases like diabetes, cancer and other chronic diseases, information & technology companies have started developing patient engagement solutions for hospitals and healthcare sector.
Apollo Hospital in India has digital platform for patients and doctors to maintain proper record of data and files. It also helps patients to connect with doctor in emergency situations. Moreover, patients can directly chat with doctors regarding their health issues, without waiting in queue.
Apart from its various advantages, patient engagement solution also helps the government and healthcare sector to track down patient details and their conditions, which helps them to understand current situation and previous situation.
Foremost objective of the report by Fact.MR on this market is to pitch insights on the purchase growth scenario, demand generators, and development strategies in this space. The report provides a taxonomy elaborating on key segments.
The report also outlines visionary insights on the market dynamics, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key success factors. Demand trends have been tracked in 15+ high-growth countries, pointing towards countries in North America holding bulk of the share.
Historical Trends Vs Future Market Projections
Historically from 2016 to 2020, demand of patient engagement solution increased at around 24% CAGR, and the key factor assisting this growth is its advantages over traditional record keeping and telephonic consultation on health problems as patient engagement do not need much time to approach doctor and previous data, as these data were already stored in server for patient and doctor’s purpose.
The market of patient engagement solution is forecasted to expand at the CAGR of nearly 21% over the coming years (2021 – 2031). Major reason influencing the market growth is growing demand for maintaining records of patient and provide fast treatment to patient in less time.
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Which Region Offers Larger Opportunity for Patient Engagement Solution Providers?
Major market of patient engagement solution has been observed in North America. North America accounts for over 36% of global share of the patient engagement solution market in 2020. The region is expected to offer over US$ 47 Bn absolute dollar opportunity in the forecast period (2021 – 2031).
The key reason for the highest market share is it highly developed health sector. Apart from this, North America also leads in adaptation of mobile health, and has been continuously growing investment in its patient health management system.
Why are Web / Cloud-based Deployment of Patient Engagement Solutions More Preferred?
In deployment type of patient engagement solution, the market is bifurcated into two segments including web / cloud based deployment and on premises deployment. The web / cloud deployment contributes the highest in deployment of patient engagement solution market with around 70% market share.
The reason for demand of cloud / web based deployment include its real time access to files and other medical documents. Furthermore, it provides direct access to patient and providing remote access to both patients and doctors.
The web / cloud based deployment in patient engagement system market is expected to grow even future in forecasted period (2021 – 2031). Web / cloud in the deployment is anticipated to expand at the CAGR around 22%, while on premises at CAGR of 17%.
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How Has COVID-19 Aided Demand for Patient Engagement Solutions?
With the implementation of lockdown at global level response to covid-19 pandemic, industries are badly affected globally, due to the halt in business activities by government to prevent spread on covid-19 virus. Government across the world started expanding huge amount of budget in health sector to overcome from covid-19 pandemic.
In turn, huge demand for healthcare online helping portals has observed, due to which it has increased the demand for patient engagement solution. Owning to this, global patient engagement solution market is expected to generate revenue of over US$ 20 Bn in 2020.
Fact.MR has profiled the following key patient engagement solution providers in its report:
- Allscripts Healthcare Solutions
- McKesson Corporation
- Orion Health Ltd.
- Cerner Corporation
- Phytel Inc.
- Medecision Inc.
- GetWellNetwork Inc.
- YourCareUniverse Inc.
- Lincor Solutions Ltd.
- Athenahealth, Inc.
Majority of the companies discussed in the report have focusing on investing to expand their business, doing R&D to make better user friendly interfaces; besides they are also focusing on mergers and acquisitions. Some of the key developments are:
- In September 2019, GetWellNetwork and Cerner signed a deal for a partnership to cut down the gap between hospitals and patients for both outpatient and inpatient. This will help the patient to access the real time data and it will also increase customer engagement with the hospital.
- In April 2021, Orion Health, a leading provider of population health management solutions has signed a deal with SYNCRONYS to exchange data with each other. Together, SYNCRONYS and Orion Health will break down data-sharing barriers, increase interoperability, and enhance the functionality, data sets, reach, and overall value of the health information exchange.
- In January 2021 - Orion Health announced its collaboration with Amazon Web Services (AWS) to deploy Amazon HealthLake, a HIPAA (Health Insurance Portability and Accountability), and run machine learning to derive meaningful value from the newly normalized data. Amazon HealthLake will provide a complete view of patient and population health, derive insights using analytics and machine learning, and discover previously obscured relationships and trends.
Similarly, recent developments related to companies providing patient engagement solution has been tracked by the team at Fact.MR, which is available in the full report.
An Adaptive Approach to Modern-day Research Needs
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
By Software Type
- Standalone Patient Engagement Solutions
- Integrated Patient Engagement Solutions
- Web- / Cloud-based Patient Engagement Solutions
- On-premise Patient Engagement Solutions
- Patient Engagement Solutions for Social Management
- Patient Engagement Solutions for Health Management
- Patient Engagement Solutions for Home Healthcare Management
- Patient Engagement Solutions for Financial Health Management
By End User
- Patient Engagement Solutions for Payers
- Patient Engagement Solutions for Providers
- Patient Engagement Solutions for Individual Users
- North America
- Latin America
- East Asia
- South Asia
Patient Engagement Solution Market - Scope of Report
A recent study by Fact.MR on the patient engagement solution market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of patient engagement solution.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the patient engagement solution market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of patient engagement solution across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of patient engagement solution during the forecast period. Price point comparison by region with global average price is also considered in the study.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of value (US$ Mn).Market estimates at global and regional levels for patient engagement solution are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report.
Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a companies can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global patient engagement solution market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include Porter’s five forces analysis and PESTLE analysis (political, economic, social, technology, legal and environment outlook), which are expected to have a momentous influence on the growth of the patient engagement solution market during the forecast period.
Country-specific valuation on demand for patient engagement solution has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading companies of patient engagement solution, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the companies of patient engagement solution has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player.
Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the patient engagement solution market.
- FAQs -
Market projected at a CAGR of around 21% for patient engagement solution sales during 2021-2031.
South Asia and East Asian countries would experience the highest growth rate.
Prominent players providing patient engagement solutions including Allscripts Healthcare Solutions, McKesson Corporation, Orion Health Ltd., Cerner Corporation, Phytel Inc., Medecision Inc., and GetWellNetwork Inc
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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