According to the latest report by IMARC Group "Patient Engagement Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global patient engagement solutions market size reached a value of US$ 26 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 69.5 Billion by 2027, exhibiting a CAGR of 16.71% during 2022-2027.
Patient engagement solutions deliver personalized experiences across digital marketing channels to interact with patients. They are integrated with artificial intelligence (AI) technology that assists patients in interacting with healthcare professionals via emails, SMS/MMS, and mobile health (mHealth) applications. They offer helpful tips and advice to patients for enabling them to stay healthy. They promote innovative treatment options, publicize medical advances, and highlight specialty areas through omnichannel marketing.
They support automating repetitive marketing tasks and the launch of campaigns on a large scale. They also help in managing data, segmenting patients, and allocating marketing resources more effectively. Patient engagement solutions highlight mission-related philanthropic and community initiatives to develop relationships and encourage routine preventive care. They also offer medication adherence programs across channels to increase the availability of care and enhance the patient experience. Besides this, they help improve loyalty across the entire patient care journey and assist in building trust with patients of all ages. At present, they find extensive applications in home healthcare and financial health management.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The growing geriatric population and the increasing prevalence of diabetes and cardiovascular diseases represent one of the key factors positively influencing the market. In addition, the rising working population and unhealthy dietary patterns are resulting in lifestyle diseases, which, in turn, is catalyzing the demand for patient engagement solutions. The rising need for remote patient monitoring (RPM) services on account of increasing viral infections is also creating a positive market outlook. Moreover, the growing inclination towards transparent and low-stress treatment, along with the rising awareness about the development of mobile health (mHealth) applications, is driving the market. Mobile health applications provide easy health tracking, share regular healthcare tips, and share prescription refill reminders.
Besides this, rapid digitization, increasing sales of smartphones, tablets, laptops, and personal computers (PCs), and the rising penetration of high-speed internet, is propelling the market growth. Furthermore, the integration of advanced technologies, including artificial intelligence (AI), the internet of things (IoT), cloud computing, and electronic health record (EHR) systems, are strengthening the growth of the market. Additionally, favorable government initiatives to generate health literacy and enhance the quality of healthcare are propelling the market growth. Moreover, the rising need for automated communication and end-to-end patient engagement platforms is contributing to the market growth. Besides this, increasing advancements in patient engagement platforms to provide personalized, profitable, and better clinical outcomes are anticipated to drive the market in the future.
Competitive Landscape:
The competitive landscape of the market has also been analyzed, with some of the top leading patient engagement companies.
- AdvancedMD (Global Payments Inc.)
- Allscripts Healthcare Solutions Inc.
- Athenahealth Inc.
- Cerner Corporation
- EMMI Solutions LLC (Wolters Kluwer N.V.)
- Epic Systems Corporation
- GetWellNetwork Inc.
- Lincor Solutions Limited
- McKesson Corporation
- Medecision Inc. (Health Care Service Corporation)
- Orion Health Ltd.
- Phytel Inc. (International Business Machines Corporation).
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The report has segmented the market on the basis of Product Type, Distribution Channel, Packaging Type and Region.
Breakup by Therapeutic Area:
- Chronic Diseases
- Obesity
- Diabetes
- Cardiovascular
- Others
- Fitness
- Women's Health
- Mental Health
- Others
Breakup by Application:
- Social Management
- Health Management
- Home Healthcare Management
- Financial Health Management
Breakup by Component:
- Software
- Services
- Hardware
Breakup by Delivery Type:
- Cloud-based
- On-premises
Breakup by End User:
- Payers
- Providers
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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