According to the new market intelligence report by BIS Research, “Global Patient Engagement Solutions – Analysis and Forecast, 2019-2028“, the global patient engagement solution market generated a revenue of $11.84 billion in 2018 and is estimated to grow over $51.65 billion by the end of 2028. The market is projected to grow at a CAGR of 14.09%, during the forecast period from 2019 to 2028. There are multiple factors that drive this market such as increase in the geriatric population, growing prevalence of chronic diseases, growing adoption of mobile phone-based healthcare services, and rising cloud-based networking models.
BIS Research Report: https://bisresearch.com/industry-report/patient-engagement-solutions-market.html
The report provides varied segmentation of the market on the basis of component, mode of delivery, application, and region. In the case of component type, different software such as Epion Check-in software, Wellframe mobile app, and MedEngage are used. In the case of mode of delivery, web-based, cloud-based, and on-premise modes are used.
Moreover, the market is also categorized on the basis of application into health management (care and social management) and financial management. Several companies and start-ups are based out of the developed regions such as the North America and Europe.
The global patient engagement solutions market can be segmented on the basis of component, mode of delivery, application, and region.
As of 2018, the global patient engagement solutions market was estimated to be approximately $11.84 billion. North America dominated the patient engagement solutions market and accounted for 57.86% in 2018.
Asia-Pacific held the second largest contributor for the patient engagement solutions market, due to the increasing prevalence of chronic conditions such as diabetes and hypertension and increasing demand for patient-centric care.
The global patient engagement solutions market is segmented based on components (software and services), mode of delivery (web-based, cloud-based and on-premise), applications (health management- care and social management and Financial management).
By Component, service segment held 37.41% of the total market share in 2018 and is expected to grow in the forecasting years. Software segment is expected to increase because of the increasing demand for the coming years.
By Mode of delivery, cloud-based mode of delivery held the largest market share with 39.13% in 2018. Cloud-based delivery is increasing day-by-day because of the storage of large data from any location of patients and healthcare IT using cloud-based delivery for giving healthcare services to the patients.
By Applications, health management dominated the market in 2018 and held the largest market share with 61.59% due to increasing awareness of complex diseases among patients and the need to maintain their health.
- North America dominated the patient engagement solution market and accounted for 57.86% of the market share in 2018.
- Factors contributing to the growth of North America region are an increasing number of ACOs (accountable care organizations), increasing focus, and a number of government initiatives to promote the use of better healthcare IT technology and solutions.
- At present, Asia-Pacific is the second largest contributor to the patient engagement solution market, due to the increasing prevalence of chronic conditions such as diabetes and hypertension and increasing demand for patient-centric care.
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Key Companies in the Global Patient Engagement Solutions Market
This report is a meticulous compilation of research on 76 players in the market ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles 18 key players from the patient engagement solutions market. Some of the market players include primary and secondary data analysis tools providers such as IBM Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, and Cisco. Also, there are a plethora of companies providing software and solutions (such as IBM Corporation, Valera, and among others), as well as services (such as Get Real Health, Emmi Solutions, and Athenahealth).
Key Questions Answered in the Report:
- What are the major market drivers, challenges, and opportunities in the global patient engagement solution market?
- What is the global patient engagement solution market size in terms of revenue from 2019-2028?
- What are the key development strategies implemented by the major players to sustain in the competitive market?
- How is each segment of the global patient engagement solution market expected to grow during the forecast period from 2019 to 2028:
- on the basis of component, including software/solution and services
- on the basis of mode of delivery, including web-based, cloud-based, and on-premise
- on the basis of application, including health management and financial management
- on the basis of region, including North America, Europe, Asia-Pacific, and Rest-of-the-World (ROW)
- What is the market share of major companies in the global patient engagement solution market?