According to Strategic Market Research, the global Patient Engagement Solutions Market size is projected to reach USD 74.28 Billion by 2030, growing at a CAGR of 20.93% during the forecast period of 2022 - 2030; Rising prevalence of chronic diseases and advocacy to patient-centric care to boost the industry growth.

New York, USA, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The Global Patient Engagement Solutions Market in 2021 was worth USD 13.42 billion, and by 2030 it will reach USD 74.28 billion, with a 20.93% CAGR. Patient engagement solutions help patients to manage their healthcare information and enable better patient interaction with the healthcare team. Wearables, educational resources, mobile apps, and other technologies are used by healthcare professionals to engage their patients. In order to make informed health decisions, these solutions give patients quick access to doctors and real-time monitoring of vital body signs.

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Patient Engagement Solutions Market Insights: 

• By product, the web and cloud-based segment ruled the overall market with a revenue share of approximately 75% in 2021

• In 2021, the software and hardware segment held a significant position, with 60% of the market share on the basis of components.

• Based on functionality, in 2021, the communication segment held a prominent position with a market share of more than 35%.

• In terms of therapeutic areas, with a revenue share of more than 40%, the chronic disease management segment ruled the overall market in 2021.

• In 2021, the outpatient health management segment held a significant position, with a share of around 35% on the basis of application.

• On the basis of end-user, in 2021, the providers ruled the overall market with a share of around 45%.

• Regionally, in 2021 North America ruled the overall patient engagement solutions market with a revenue share of around 35%.
  
  

Factors accelerating the Patients Engagement Solutions Market growth: 

The increasing incidence of chronic diseases and technological advancements are stimulating the expansion of the market.

• The market for patient engagement solutions is expanding significantly due to the rising prevalence of chronic diseases. Patient Engagement Solution is essential for the management of chronic diseases as patients with chronic conditions constantly monitor their health and minor changes that occur in their bodies. These patient engagement solutions help patients to stay informed and involved with their treatment plans. This promotes greater patient compliance, proactive interventions, improved communication, lower costs, and higher-quality care. According to a study published in 2021 by the National Council on Aging, approximately 60% of older adults have two or more chronic diseases, while 85% of older adults have at least one chronic disease in the United States.
  
  

• Technological innovation is a popular trend in the patient engagement solutions market. To strengthen their market position, major players in the patient engagement solutions market are focusing on providing technologically advanced solutions that incorporate innovative features such as video API, salesforce CRM, text API, and end-to-end patient engagement via AI and ML.
  
  

Patient Engagement Solution Market: A thorough Segmentation Analysis

The worldwide Patient Engagement Solution Market segmentation has been performed on the basis of delivery type, component, functionality, 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

• Communication

• Patient Education

• Billing & Payments

• Health Tracking & Insights

• Others

By Therapeutic Area:

• Health & Wellness

• Chronic Disease Management

By Application:

• In-Patient Health Management

• Population Health Management

• Outpatient Health Management

• Others

By End-User

• Providers

• Payers

• Others
  
  

By Region

North America

• Canada

• United States

Europe

• Spain

• Sweden

• United Kingdom

• Russia

• Germany

• France

• Italy

• Rest of Europe

Asia Pacific

• Japan

• India

• China

• Australia

• South Korea

• Rest of Asia Pacific

LAMEA

• Argentina

• Israel

• Brazil

• Saudi Arabia

• South America

• Mexico

• United Arab Emirates

• Rest of LAMEA

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By product, the web and cloud-based segment ruled the overall market with a revenue share of approximately 75% in 2021. These solutions are becoming more popular due to their integrated features, easy accessibility, low handling costs, remote real-time data tracking, and simple data backup capabilities. Companies are investing in web- and cloud-based patient engagement solutions because of these factors.

In 2021, the software and hardware segment held a significant position, with 60% of the market share on the basis of components. The solution's main components are hardware and software for patient engagement. Because of the user-friendly user interfaces and ongoing product upgrades, it is simple to install, use, and retrieve records. A well-known mobile-first, adaptable, and enterprise patient engagement solution is Allscripts' FollowMyHealth. Providers, hospitals, and health systems use it to improve patient satisfaction and care quality.

On the basis of functionality, in 2021, the communication segment held a outstanding position with a market share of more than 35%. This significant market share is due to increased demand and implementation of Mhealth, telehealth, and other virtual communication solutions via video, audio, and text. The pandemic has accelerated the rapid adoption of virtual communication solutions, which have expanded their application to remote patient monitoring, mental health, and other modalities.

In terms of therapeutic areas, with a revenue share of more than 40%, the chronic disease management segment ruled the overall market in 2021. The segment holds a sizable market share due to factors like the growing senior population in important economies and the acceleration of digital technology adoption caused by the COVID-19 pandemic.

In 2021, the outpatient health management segment held a significant position, with a share of around 35% on the basis of application. Patients with chronic disorders must be closely monitored and informed about how to treat their condition. Patients are now more involved in planning, monitoring, and improving their care due to growing healthcare consumerism.

Patient Engagement Solutions Market Report Coverage

On the basis of end-user, in 2021, the providers ruled the overall market with a share of around 45%. Due to the increased use of routine care procedures, complex healthcare decision-making, and patient portals for information access, providers encourage improved patient engagement techniques.

Regionally, in 2021 North America held a significant position in the overall patient engagement solutions market with a revenue share of around 35%. North America ruled the overall market because of the rising adoption of Mhealth and EHR, the presence of key players, and increased investment in patient engagement software by major corporations. Additionally, it is anticipated that the rising awareness levels and government spending on healthcare will boost growth. As a result of publicly funded systems like the National Health Services (NHS) in the U.K., Europe had the second-largest share in 2021.
The Asia Pacific market will grow at a profitable rate of 18.8%. Growing internet and smartphone penetration, improved healthcare infrastructure and care quality, a large patient population, and the presence of local players are some key factors accelerating the growth of this region's market.

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Key players in Patient Engagement Solutions Market:

• Solutionreach, Inc.

• Epic Systems Corporation

• McKesson Corporation

• MEDHOST

• Cerner Corporation

• Allscripts Healthcare, LLC

• Koninklijke Philips N.V.

• Experian Information Solution, Inc.

• Nuance Communications, Inc.

• Athenahealth, Inc.

• CPSI

• NextGen Healthcare, Inc

• IBM

• Epic Systems Corporation Klara Technologies, Inc.

• Reed
  
  

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Recent Developments

• On October 2022, DentalMonitoring collaborated with People + Practice to offer complementary solutions to providers to help them use remote monitoring to attract native digital patients and fuel growth.
  
  

• On September 2022, a digital health company Spencer Health Solution collaborated with Advantage Healthcare Services, a California-based mental health pharmacy, to offer advanced in-home patient services for its largest commercial pharmacy programs.
  
  

• On September 2022, Kyruus announced the acquisition of Epion Health, a leader in digital patient engagement solutions. The acquisition will offer providers and healthcare organizations a one-stop shop for engagement solutions and patient access.
  
  

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