Patient Engagement Technology Market Overview:
The Patient Engagement Technology Market size is valued at USD 11.7 billion in 2019 and is expected to grow at a CAGR of 17.5%. Technological advancement, government initiatives, increased awareness, and growing benefits of implementing these technologies are important factors driving the growth of this market.
Selection of right patient engagement technology is critical for healthcare organizations/providers and is dependent on several factors such as ease of use, data security, integration with value-based care programs, cost of the patient engagement solution, integration capabilities, aligned functionality, and vendor reputation. The selection of a patient engagement technology must be made based on the organization’s strategic plan and objectives for implementation.
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Driver: Benefits to patients/patient empowerment
Patients will adopt patient engagement solutions if they benefit from their use. In most cases, these benefits are direct monetary benefits. A white paper published by UbiCare stated that due to the use of PES, there is a 25% per day reduction in LOS (length of stay) for hip replacement patients and 13% for knee replacement patients.
Other benefits of these solutions include patient empowerment with higher levels of health literacy, timely appointment scheduling with doctors/caregivers, increased adherence to prescribed medical treatments, and consultation with providers through online tools. The adoption of patient engagement solutions depends on the degree of empowerment they offer to patients. Patients become more active in their care when they have access to their health records and can monitor their health status
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Market Segmentation:
End-User Market Potential Analysis (Qualitative Assessment)
Hospitals Buying Behavior Assessment
Purchase intention, by Hospital Size
Purchase intention, by Role
Pricing Analysis of Patient Engagement Technology
Licensing fees
Implementation fees
Annual license maintenance fees
Up-gradation and integration fees
Consulting fees
Patient Engagement Technology Market: Patient Engagement Technology Replacement Trends (Qualitative Assessment)
Factors triggering the replacement of Patient Engagement Technology
Role of Mobile in Patient Engagement
Importance of mobile and mobile health .applications in patient engagement market
Implementation status of mobile health technology
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