The global Patient Engagement Solutions Market size is expected to reach USD 70.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.4% from 2022 to 2030. The key factors fueling the market growth include rising digitalization across healthcare, increasing prevalence of chronic conditions, and technological advancements. The COVID-19 pandemic boosted digitalization across healthcare. This, in turn, has fueled the awareness and adoption of patient engagement solutions, thus propelling the market growth.
As healthcare providers were battling with the
constant upsurge in cases, patients were looking to digital technologies for
care delivery and monitoring. This contributed to the market growth. Various
key companies released multiple COVID-19-related features as part of their
patient engagement lineup to enhance their offerings. In December 2020,
athenahealth released new features to its athenaOne platform-such as
scheduling, workflow, documentation, and reporting capabilities-to enable
immediate administration of COVID-19 vaccines as and when they become
available.
The necessity of social distancing resulted in the
demand for remote patient monitoring solutions, along with the prerequisite for
the precise and timely exchange of patient wellbeing records. The pandemic has
also made healthcare professionals look for alternate methods to traditional
processes and systems. As a result, market participants had come up with
COVID-19-related features into their existing patient engagement solutions. For
instance, in June 2020, Orion Health partnered with a network of more than 350
healthcare facilities called Keystone Health Information Exchange to enable
real-time automated COVID-19 reporting for improved public health data
collection across Pennsylvania and New Jersey.
As per a survey by Twilio, a provider of cloud
communications and customer engagement, 68% of respondents reported accelerated
digitalization in their organizations due to COVID-19. Companies reported
easing of barriers at organization levels such as getting executive approvals,
lack of clear strategy, and reluctance to replace legacy software. In fact,
according to the Chief Product Officer at Mount Sinai Health System, their
newly developed text‑to‑chat platform witnessed a 10x surge in volume due to
the pandemic. The growing number of smartphone users around the globe expedited
the adoption of digital health technologies across the sector both from
providers and consumers, which, in turn, has augmented the dependability of
patients on mHealth apps.
Moreover, in March 2019, the American Medical
Association entered into a collaboration with Patient Point with the aim to
access point of care to help prevent the occurrence of cardiovascular diseases
and type 2 diabetes. Using PatientPoint technology, approximately 6,500
practicing doctors across the U.S. are expected to educate individuals
regarding disease prevention. Programs such as these are expected to fuel the
market growth over the forecast period.
Related Press Release@ Patient Engagement Solutions Market Report
Patient Engagement Solutions
Market Report Highlights
- The web and cloud-based segment emerged as the largest delivery
type segment in 2021 as it supports hassle-free information flow between
patients and healthcare providers. Moreover, bulk data can be stored in
these platforms and accessed remotely
- By component, the software and hardware segment dominated the
market in 2021 owing to the continuous development in patient engagement
solutions, along with the increasing applications in health and wellness,
patient education, and chronic disease management
- The rising prevalence of chronic diseases such as cardiovascular
diseases, obesity, and diabetes, which require constant monitoring, is
expected to drive the demand for patient engagement solutions in the
coming years
- The communication functionality segment dominated the market in
2021 as it forms the core of any patient engagement solution. Market
players are continuously releasing upgrades and new features to enhance
offerings. For instance, in November 2020, Cerner partnered with WELL
Health Inc. to boost the communication capabilities of its patient portal-
HealtheLife
- North America dominated the global market in 2021 owing to the
increased adoption of m-health and electronic health
records (EHRs) and growing investments in patient engagement software
by major companies
- Companies are adopting various strategies to sustain competition.
New product/solution development, partnerships, mergers, acquisitions,
strategic collaborations, and geographical penetration are some of the key
strategies adopted by market players
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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