Patient Engagement Solutions Market By Component (Hardware, Software, Services), By Deployment Mode (On-premise, Cloud), By Functionality (Communication, Health Tracking and Insights, Biling and Payments, Administrative, Others), By End User (Providers, P

Patient Engagement Solutions Market By Component (Hardware, Software, Services), By Deployment Mode (On-premise, Cloud), By Functionality (Communication, Health Tracking and Insights, Biling and Payments, Administrative, Others), By End User (Providers, Payers, Patients): Global Opportunity Analysis and Industry Forecast, 2023-2032

Patient engagement is a partnership between a patient and their healthcare provider team where both sides share information and search for the best treatment options. It is opposed to the conventional rigid system where the doctor prescribes one treatment course, and the patient feels free to either accept or ignore it instead of attempting to discuss other options. In addition, using technology, doctors can reach their patients anytime and anywhere, foresee and mitigate deterioration in conditions of patients, and provide helpful information at the right time. These goals can be achieved with the help of patient engagement software — an application or a set of interconnected systems designed to facilitate communication between patients and healthcare providers, offer educational resources, and otherwise manage the patient-doctor relationship.  

Growth in emphasis on automation trends across regions is one of the major driving factors for the patient engagement solution market. It provides many beneficial aspects such as registering new patients and managing their medical history online, scheduling and rescheduling appointments, and others. It also offers to send automatic appointment reminders either via text or voice messages. Thus, there is a growth in demand for real-time identification, monitoring, and response capabilities provided by patient engagement solutions. These factors are further expected to propel the growth of the global patient engagement solution market.

Furthermore, the market is profoundly influenced by considerable expenses related to patient engagement solutions and services. Primarily, these expenses can serve as a deterrent for smaller and medium-sized enterprises (SMEs) with constrained budgets. SMEs may perceive patient engagement solutions as a financial burden, leading to insufficient investment in healthcare measures. In addition, even larger organizations may exhibit hesitation in allocating substantial resources to patient engagement solutions, particularly when faced with competing budgetary demands.

The notable factors positively affecting the patient engagement solutions market include rise in awareness regarding mobile health among people and growing emphasis on electronic health record (HER) reports. However, extensive investments required for healthcare infrastructure and high complexity associated with the integration of advanced solutions with existing healthcare infrastructure components often hinder market growth. However, rise in significance of cloud computing technologies to deliver remote patient monitoring and assistance services offers lucrative market opportunities for the market players. 

The patient engagement solution market is segmented on the basis of component, deployment mode, functionality, end user, and region. On the basis of component, the market is segmented into hardware, software, and service. On the basis of deployment mode, the market is bifurcated into on-premise and cloud. On the basis of functionality, the market is segmented into communication, health tracking and insight, billing and payments, administrative, and others. On the basis of end user, the market is segmented into providers, payers and patients. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the global patient engagement solutions market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include Aetna Inc., Allscripts Healthcare Solutions, Inc. (Veradigm LLC), Athenahealth, Oracle Corporation, EPIC Systems Corporation, GetWellNetwork, Inc., IBM Corporation, IQVIA Inc., Lumeon Inc. and McKesson Corporation.    

KEY BENEFITS FOR STAKEHOLDERS

The study provides an in-depth analysis of the patient engagement solutions market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on patient engagement solutions market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the patient engagement solutions market from 2022 to 2032 is provided to determine the market potential.

Key Market Segments

By End User

Providers
Payers
Patients

By Component

Hardware
Software
Services

By Deployment Mode

On-premise
Cloud

By Functionality

Communication
Health Tracking and Insights
Biling and Payments
Administrative
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

Key Market Players

Aetna Inc.
Athenahealth
EPIC Systems Corporation
IBM Corporation
IQVIA Inc.
Lumeon Inc.
Allscripts Healthcare Solutions, Inc. (Veradigm LLC)
Oracle Corporation
GetWellNetwork, Inc.
McKesson Corporation.

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