Patient Engagement Solutions Market by Component, Delivery Mode, Applications & End User - 2022

The key factors driving the growth of this market include the rise in aging population, increasing burden of chronic diseases, and focus of patients on self-managing their care has led to an increase in the adoption of patient engagement solutions globally. However, in spite of the numerous benefits certain barriers such as security of patient data and lack of interoperability are restraining the growth of this market.

By component, the software segment accounted for the largest share of the market in 2017
On the basis of component, the patient engagement solutions market is broadly segmented into software, hardware, and services. In 2017, The software segment is estimated to account for the largest share of the global patient engagement solutions market. However, the market for the services (including services for consulting, storage, implementation of solutions, training, maintenance, and regular up gradation of technology) is expected to grow at the highest CAGR during the forecast period.

By delivery mode, the on-premise segment held the largest market share in 2017
On the basis of delivery mode, the patient engagement solutions market is further classified into on-premise and cloud-based models. In 2017, the on-premise delivery mode is expected to account for the largest share of the global patient engagement solutions market.

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However, the cloud-based solutions market is projected to register the highest CAGR during the forecast period. The ability to access computing and storage resources swiftly when needed, without the requirement for a large technical staff, is one of the reasons that is driving the market growth of the cloud-based delivery mode.

By application, the health management segment held the largest market share in 2017
Based on application, the patient engagement solutions market is further segmented into health management, social and behavioral management, home health management, and financial health. In 2017, the health management segment is expected to account for the largest share and is expected to register the highest CAGR during the forecast period. Providers encouraging patients to adopt these tools as it saves a lot of time for the providers as well as increase patient compliance for care is the major factor driving the growth of this segment.

North America dominated the market in 2017
North America accounted for the largest share of the patient engagement solutions market in 2016, followed by Europe. Federal mandates’ focus on Meaningful Use of Healthcare IT, need to curb rising healthcare cost and reduce hospital readmissions, rising number of accountable care organizations (ACO) as end users for patient engagement platforms, rising aging population in the US and Canada’s efforts to enhance healthcare delivery and digital health measures in Canada will also drive market growth during the forecast period.

Patient Engagement Solutions Market

Factors such as growing demand for advanced healthcare solutions and efficient healthcare delivery in Germany, role of NHS in the UK, implementation of the Dossier Médical Personnel (DMP) in France, and rising number of initiatives to improve care coordination in RoE are expected to boost the adoption of patient engagement solutions in these countries.

The key players in the market include McKesson Corporation (US), Allscripts (US), IBM (US), athenahealth (US), Cerner Corporation (US), and Orion Health (New Zealand).

Implementation of Incentives to Shift the Burden of Risk From Healthcare Payers to Providers

Based on application, the patient engagement solutions market is segmented into health management, home health management, social and behavioral management, and financial health management. In 2017, the health management applications segment is expected to account for the largest share of the global market. The large share of this segment can be attributed to the increasing awareness among patients about the complexity of their disease conditions and their willingness to actively participate in maintaining their own health.

Based on end user, the patient engagement solutions market is segmented into providers (hospitals and physicians), payers, patients, and other end users (employer groups, government bodies, and pharmaceutical companies). In 2017, the healthcare providers segment is estimated to account for the largest share of the global market. The large share of this segment can be attributed to the high demand for patient engagement solutions by healthcare providers in order to maintain a competitive edge in the market.

The global patient engagement solutions market USD 8.80 Billion in 2017, For More Information,
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In 2017, McKesson Corporation (US) and Cerner Corporation (US) were some of the major players in the global patient engagement solutions market. Some of the other players competing in the market are Allscripts (US), IBM (US), athenahealth (US), Orion Health (New Zealand), Getwell Network (US), Lincor Solutions (Ireland), Yourcare Universe (US), WelVU (US), Get Real Health (US), and Oneview Healthcare (Ireland).

Geographically, North America is estimated to account for the largest share of the global market, followed by Europe. The growth of the North American market is expected to be centered particularly in the US. Growth in this segment is largely driven by the federal mandates, focus on Meaningful Use of Healthcare IT, need to curb rising healthcare cost and reduce hospital readmissions

Patient Engagement Solutions Market in North America

The patient engagement solutions market is projected to reach USD 16.39 Billion by 2020 from USD 6.68 Billion in 2015, growing at a CAGR of 19.7%. North America is expected to account for the largest share of the market in 2015, followed by Europe, Asia, and the Rest of the World (RoW). However, the European region is expected to grow at the highest CAGR during the forecast period.

The global patient engagement solutions market is segmented on the basis of component, delivery mode, end user, application, and therapeutic area. On the basis of component, the market is segmented into hardware, software, and services. The software segment is estimated to account for the largest share of the global market in 2015. However, the services segment is expected to witness the highest growth rate during the forecast period, owing to the indispensable nature of services which include consulting, storage, and implementation of solutions, training, maintenance, and regular upgrades.

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Patient engagement solutions find major applications in the health management of a patient. These solutions are also used in social and behavioral management, home health management, and financial management. The health management segment is the fastest-growing segment and is expected to command the largest share of the global market in 2015. Providers are encouraging patients to adopt health management solutions as they help save time for providers as well as increase patient compliance with therapy. Health management solutions empower patients to improve the quality of care, resulting in better outcomes with fast recovery.

Factors such as legislations and initiatives to promote ‘patient-centeredness’ in healthcare, increasing number of accountable care organizations, impetus on fulfilling the requirements of Meaningful Use through patient engagement, growth of the HCIT market, consolidation of healthcare providers, and growing focus on eHealth are driving the growth of the market. However, reluctance among providers towards the adoption of patient engagement solutions, requirement of infrastructural investments, and lack of interoperability are expected to restrain market growth. On the other hand, emerging economies in the Asian region, growing medical tourism, and growing use of cloud-based models offer growth opportunities for players in the market.

Geographically, the patient engagement solutions market is categorized into North America, Europe, Asia, and the Rest of the World (RoW).

Source: Center for Patient and Consumer Engagement, Society for Participatory Medicine, Association for Patient Experience, Institute of Patient and Family Centered Care, Patient Engagement Advisory Committee, American Association of Healthcare Administrative Management (AAHAM), Institute for Health Technology Transformation (iHT2), The Health Foundation, Healthcare Information and Management Systems Society (HIMSS), American Medical Group Association (AMGA), Agency for Healthcare Research and Quality (AHRQ), Health Research & Educational Trust (HRET), American Hospital Association (AHA), International Association of Health Policy (IAHP), Institute of Population and Public Health (IPPH), Public Health Agency of Canada, WHO, OECD, Expert Interviews, and MarketsandMarkets Analysis

McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Phytel, Inc. (U.S.), athenahealth, Inc. (U.S.), Orion Health Ltd. (New Zealand), Cerner Corporation (U.S.), GetWellNetwork, Inc. (U.S.), Lincor Solutions Ltd. (U.S.), YourCareUniverse, Inc. (U.S.), WelVU, Inc. (U.S.), Get Real Health (U.S.), Oneview Healthcare (U.S.), PatientPoint (U.S.), and Medecision, Inc. (U.S.) are the key players in the global patient engagement solutions market.