Market Overview
The Global Patient Engagement Solutions Market is expected to reach a value of
USD 24.3 billion in 2023, and it is further anticipated to reach a market value of
USD 109.2 billion by 2032 at a
CAGR of 18.1%. The market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well.
Patient engagement solutions play an important role in empowering individuals to manage their healthcare information and encouraging improved interaction between patients & medical teams, as they also offer essential tools for dynamic health management, these solutions make sure of quick access to healthcare providers & personal health information, which facilitates effective self-care, contributing to improved patient well-being by promoting proactive & informed
healthcare engagement.
Key Takeaways
- By Component, Software & Hardware segment takes the lead in 2023
- By Delivery Type, Web-based/Cloud-based segment takes the lead in 2023
- In addition, the on-premise segment is expected to have robust growth over the forecasted period.
- By Therapeutic Area, Chronic Disease Management take the lead & drive the market in 2023
- North America has a 36.1% share of revenue in the global patient engagement solutions market in 2023
Market Dynamic
The increasing use of mobile health apps, facilitating the monitoring of health-related concerns, stands out as a major driver of market growth. The growth in coronavirus cases globally increased the demand for accurate diagnosis & treatment devices, thereby boosting the patient engagement solutions market. Governments around the world are constantly implementing regulations & initiatives to encourage the adoption of these solutions, reflecting a proactive stance toward healthcare innovation.
However, the need for high investments in infrastructure for the implementation of patient engagement solutions creates a challenge to market growth. While the demand for these solutions is on the rise, the costs associated with the deployment create a potential obstacle in the coming future, creating a dynamic where the advancement of patient engagement solutions may face restrain despite increasing demand.
Research Scope and Analysis
By Component
The software & hardware segment takes the lead in 2023 by securing the largest share & is projected to experience the fastest growth throughout the forecast period. Patient engagement solutions depend on the foundation provided by software & hardware components, consisting of the essence of the solution. The easy installation, use, & data retrieval is facilitated by built-in user interfaces & constant product upgrades, contributing to the segment's dominant position.
Further, the services segment emerges as a vital element in ensuring the effective operation of patient engagement solutions, which plays a crucial role in customizing & optimizing patient engagement solutions according to customer needs, aiming to maximize patient health outcomes. The range of services includes consulting, implementation & training, support & maintenance, and additional offerings like interoperability & access to electronic health record data.
By Delivery Type
The patient engagement solutions market is significantly led by the web/cloud-based segment in 2023, which is attributed to the growth in the adoption of online platforms, providing advantages like remote access to real-time data tracking, low handling costs, integrated features, quick accessibility, and straightforward data backup. The popularity of these portals is on the rise due to their efficiency & convenience.
Further, the on-premise segment emerges as the fastest-growing sector in the patient engagement solutions market and is expected to have exponential growth in the coming future, which is driven by the assurance of secure, accessible, & retrievable patient data through on-premise services. The growth in prioritizing on-premise solutions is mainly rooted in the desire for total control & unrestricted access to the information housed within the organization's premises.
By Therapeutic Area
Chronic disease management emerged as the dominant force in the market, commanding the largest share in 2023, as the occurrence of chronic diseases, an increase in the elderly population in key markets, & the rise in adoption of digital technologies, grew by the impact of the COVID-19 pandemic, together contributing to the prominence of this segment. Patient engagement solutions play an important role in assisting chronic disease management, helping in the prevention & early detection of conditions, along facilitating collaborative management between patients & healthcare providers or through self-management.
Further, the health & wellness segment is expected for the most rapid expansion in the forecast period, which is fueled by initiatives undertaken by major companies, an expansion of product offerings to include mental health, weight management, & pregnancy, and a rise in research activities dedicated to improving health & wellness via innovative patient engagement solutions.
By Functionality
The communication segment takes the lead in the patient engagement solutions market, contributing the largest share of revenue, which is due to its fundamental role as the core component of any patient engagement solution. The large share is a result of rising demand & a broad adoption of telehealth,
mHealth, & other virtual communication solutions including video, audio, & text formats. Post-pandemic there is further acceleration in the already growing acceptance of these virtual communication tools, extending their application to contain remote patient monitoring, mental health support, & various other modalities.
Further, the health tracking & insights segment is anticipated to experience high rapid growth during the forecast period, which is driven by the growth in the integration of advanced technologies like AI, data analytics, &
machine learning, focused on delivering actionable insights to both patients & their healthcare providers.
By End User
In terms of end users, the largest share of revenue in the patient engagement solutions market is attributed to the providers segment, which is a result of the increased adoption of routine care processes, the simplification of complex healthcare decision-making, & the use of patient portals to give accessible information. Providers play an important role in developing patient engagement solutions, focusing on enhancing the overall healthcare experience.
In addition, the payers segment is expected to have the most rapid growth in the coming years, as they aim to improve patient care management & establish continuous patient connectivity throughout different stages of therapy. The proactive approach of payers in promoting these connections is anticipated to drive significant growth in the segment, highlighting the evolving landscape of patient engagement strategies within the healthcare industry.
The Patient Engagement Solutions Market Report is segmented on the basis of the following:
By Component
- Software & Hardware
- Services
By Delivery Type
- Web-Based/Cloud-based
- On-Premise
By Therapeutic Area
- Health & Wellness
- Chronic Disease Management
- Others
By Functionality
- Communication
- Health Tracking & Insights
- Billing & Payments
- Administrative
- Patient Education
- Others
By End User
Regional Analysis
North America leads the global patient engagement solutions market in 2023, contributing a significant 36.1% of the total revenue, which comes from key factors like the higher adoption of mHealth & electronic health records (EHR), along with major corporations rising their investments in patient engagement software. The region's growth is further driven by growing public awareness & augmented government funding in the healthcare sector, promising an expansion in the North American patient engagement solutions market.
Further, the Asia-Pacific region is expected to have the fastest development during the forecast period, as the need for new healthcare systems, ongoing developments in
medical infrastructure, & the replacement of outdated software are expected to create encouraging growth prospects for the patient engagement solutions market in the Asia-Pacific region.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
In the growing patient engagement solutions market, new entrants are highly emerging from developing countries, capitalizing on technological developments., as they are not only taking steps in their home countries but are also expanding into developing nations, assisted by modern connectivity. The landscape is dynamic, with startups like My Haven Health, Ask Rose, & Advancing Synergy looking for market share alongside established industry players, encouraging healthy competition & innovation.
In March 2022, Epic, a leading EHR vendor, unveiled its initial customer relationship management technology named Cheers. Responding to requests from Epic's clientele for better patient connectivity, Cheers was created in light of the challenges created by COVID-19 on healthcare systems, which aims to facilitate enhanced interactions between health systems & patients, marking a strategic move by Epic to address changing requirements in the healthcare landscape.
Some of the prominent players in the global Patient Engagement Solutions Market are:
- Cerner Corp
- Orion Health
- IBM Corp
- Lincor
- Medhost
- IQVIA
- Vivify Health
- CureMD Healthcare
- Mytonomy
- Medecision
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Patient Engagement Solutions Market:
The COVID-19 pandemic & economic downturn has highly influenced the global patient engagement solutions market. The healthcare landscape experienced a growth in demand for digital health solutions as patients & providers look for remote alternatives in the middle of lockdowns & safety concerns. Patient engagement solutions, providing virtual care, telehealth, & remote monitoring, became important in maintaining healthcare access. However, economic uncertainties led to budget limitations, impacting market growth. Organizations faced financial challenges and restrained their ability to invest in advanced patient engagement technologies. Even after challenges, the pandemic grew the adoption of digital health tools, showcasing the importance of patient-centric approaches. The market responded with innovations, emphasizing accessibility & usability, as the healthcare industry adapted to the changing landscape shaped by the dual forces of a global health crisis & economic downturn.
Recent Developments
- In November 2023, PatientPoint introduced an Impact Calculator focused on helping health systems & hospitals quickly assess the potential growth facilitated by their patient engagement platform. The tech-enabled platform operates in more than 200 health systems, improving the in-office patient experience. It provides targeted education & information along with health system priorities, featuring specialty-specific content to enhance practice workflows & contribute to better health outcomes.
- In March 2022, DeliverHealth announced its partner program, developed to enhance strategic alliances in the healthcare ecosystem, as it focuses on driving domestic & international sales growth for partners while supporting healthcare organizations in streamlining the intricacies of daily operations. Through this initiative, DeliverHealth seeks to improve patient outcomes & reduce overall costs in the healthcare sector.
- In September 2023, Belong.Life, a major global supplier of engaging patient communities & care platforms, introduced Tara, a SaaS-based conversational AI platform for cancer clinical trial matching. Targeted at health providers & contract research organizations (CROs), Tara advances the patient matching process with eligible clinical trials, leading to growth in recruitment at highly lower costs. Tara is part of Belong's AI Health Mentor suite, succeeding the launch of Dave, the world's first conversational AI oncology mentor.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 24.3 Bn |
| Forecast Value (2032) |
USD 109.2 Bn |
| CAGR (2023-2032) |
18.1% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Component (Software & Hardware and Services),
By Delivery Type (Web-Based/Cloud-based and On-
Premise), By Therapeutic Area (Health & Wellness,
Chronic Disease Management, and Others), By
Functionality (Communication, Health Tracking &
Insights, Billing & Payments, Administrative, Patient
Education, and Others), By End User (Payers,
Providers, and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Cerner Corp, Orion Health, IBM Corp, Lincor,
Medhost, IQVIA, Vivify Health, CureMD Healthcare,
Mytonomy, Medecision, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Patient Engagement Solutions Market size is estimated to have a value of USD 24.3 billion in
2023 and is expected to reach USD 109.2 billion by the end of 2032.
North America has the largest market share for the Global Patient Engagement Solutions Market with a
share of about 36.1% in 2023.
Some of the major key players in the Global Patient Engagement Solutions Market are Cerner Corp,
Orion Health, IBM Corp, and many others.
The market is growing at a CAGR of 18.1 percent over the forecasted period.