The global patient engagement solutions market is estimated to grow at a CAGR of 15.1% from USD 11.77 billion in 2019 to USD 41.20 billion in 2027.

Vancouver, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The global patient engagement solutions market is expected to register a CAGR of 15.1% and reach a market size of USD 41.20 Billion in 2027, according to the latest report by Emergen Research. Increasing adoption of mHealth, rising prevalence of chronic diseases and illnesses such as asthma, arthritis, and diabetes, coupled with emergence of more resilient healthcare services, patient data tracking, and advanced diagnostic treatments are some key factors driving market revenue growth currently.

Adoption of initiatives to minimize healthcare burden on payers, and others to promote applications and approaches that boost quality of life of patients and reduce costs of Health Information Technology (HCIT) are other key factors supporting market growth. In 2019, a two-partisan legislative committee in the U.S. proposed a bipartisan bill to offer USD 25 million in funding to the City, State, and Federal Government to design the Social Determinants Accelerator Program to augment patient identification.

In March 2019, the American Medical Association joined forces with PatientPoint to extend access to healthcare facilities that enable better treatment and management of chronic diseases and type 2 diabetes. Around 6,500 practitioners across the United States are expected to aid in increasing awareness amongst people about disease prevention through PatientPoint technology. These measures and initiatives are expected to drive industry and market growth over the forecast period.

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Key Highlights from the Report:

• The software segment dominated other component segments in terms of revenue share contribution to the global market in 2019 owing to continual development of patient engagement solutions and increasing software application for consulting processes.
• Increasing prevalence of chronic diseases and conditions such as cardiovascular disorders, diabetes, cancer, and obesity, is expected to further drive demand for related software and services.
• Web-based/cloud-based segment registered high revenue growth in 2019 owing to convenience and hassle-free information transfer between patients and doctors, coupled with easy storage of bulk data and availability of remote access on the platform.
• Chronic disease segment contributed significantly to global market revenue in 2019 due to extensive benefits offered by these solutions in managing chronic diseases. These systems allow patients to access healthcare services from a remote location, obtain information and knowledge, patient reports, and other healthcare-related data.
• North America accounted to majority revenue share contribution to the global market as compared to that of other regions in 2019 and is expected to retain its leading position over the forecast period. This high growth can be attributed to the extensive use of EHRs and patient interaction tools by hospitals and large organizations in countries in the region.
• Key industry players include Allscripts Healthcare Solutions, Orion Health Ltd., Cerner Corporation, Phytel Inc., McKesson Corporation, Medecision Inc., GetWellNetwork Inc., Lincor Solutions Ltd., Athenahealth, Inc., and YourCareUniverse Inc., among others.
• In 2019, IQVIA launched an innovative cloud software-as-a-solution (SaaS) solution called Orchestrated Patient Engagement, which is designed to gather insights and connections, and bridges the communication gap between patients and life sciences firms.

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For the purpose of this report, Emergen Research has segmented the global patient engagement solutions market on the basis of component, delivery, therapeutic area, application, end-use, and region:

 Component Outlook (Volume, Million Tons; Revenue, USD Billion; 2017-2027)

• Software
• Services
• Hardware

Delivery Outlook (Volume, Million Tons; Revenue, USD Billion; 2017-2027)

• Online
• Offline

Therapeutic Area Outlook (Volume, Million Tons; Revenue, USD Billion; 2017-2027)

• Women’s Health
• Chronic diseases
• Mental Health
• Fitness
• Others

Application Outlook (Volume, Million Tons; Revenue, USD Billion; 2017-2027)

• Health Management
• Social Management
• Financial Health Management
• Home Healthcare Management

End-Use Outlook (Volume, Million Tons; Revenue, USD Billion; 2017-2027)

• Payers
• Individual Users
• Providers

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Regional Outlook (Volume, Million Tons; Revenue, USD Billion; 2017-2027)

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • BENELUX
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East & Africa
  • Saudi Arabia
  • U.A.E.
  • Rest of MEA

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