Patient Support Technology Market Size, Share & Trends Analysis Report By Type (Standalone, Integrated), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030

Patient Support Technology Market Size, Share & Trends Analysis Report By Type (Standalone, Integrated), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030

Patient Support Technology Market Growth & Trends

The global patient support technology market is expected to reach USD 3.2 billion by 2030, registering a CAGR of 10.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing requirement for comprehensive patient-centric solutions, increasing adoption of digital healthcare solutions by healthcare systems, technological advancements, and active participation in strategic advancements by the market players are expected to drive market growth.

Furthermore, mobile health applications or mHealth apps are playing a crucial role in accelerating the growth of the patient support technology market. These applications provide diverse functionalities, including medication reminders, health monitoring, symptom tracking, and virtual consultations. They encourage patients by enabling active engagement in their healthcare management, promoting healthy habits, and facilitating seamless communication with healthcare providers. The rising use of smartphones and wearable devices amplifies the adoption of mHealth apps, solidifying their position as an essential component of the patient support technology ecosystem.

According to IQVIA, companies seeking optimal outcomes for stakeholders should align their investment strategy in Patient Support Program (PSP) technology with the EESI (EASY) goals. These objectives emphasize enhancing patient and care partner engagement, fostering collaboration among service teams, simplifying user experiences, and enhancing insight generation for improved patient outcomes. This alignment involves promoting active participation, effective communication, and shared decision-making among patients and their care partners, facilitating seamless teamwork and communication across service teams, designing intuitive interfaces for enhanced usability, and leveraging data-driven approaches to derive actionable insights and streamline workflows. By integrating their PSP technology investment strategy with the EESI (EASY) goals, companies can elevate patient engagement, enhance team collaboration, streamline user experiences, and drive better patient outcomes.

Furthermore, technology offers the potential to enhance program performance measurement, enabling the incorporation of practical assessments into patient outcomes. This technology is utilized to conduct thorough investigations into longitudinal performance, aiding in evaluating patient outcomes during therapy over extended periods. Furthermore, AI and machine learning-driven technology platforms analyze patients' diverse needs, enabling a more customized and personalized experience. Integrating innovative technologies across different stages of the patient support lifecycle presents an opportunity to gain comprehensive insights into patient needs through data and advanced analytics.

In September 2023, Microsoft Corp. and Mercy partnered to utilize generative AI and digital technologies, enabling healthcare providers to devote more time to patient care and enhance the patient experience. Generative AI-assisted communication empowers patients by providing understandable lab results and facilitating informed discussions. Additionally, the chatbot aids Mercy co-workers in swiftly accessing essential information, allowing nurses and staff to focus more on patient care.

Patient Support Technology Market Report Highlights

• Based on type, the integrated segment dominated the market in 2023, owing to the availability of a comprehensive solution and increased focus on patient-centered care.
• North America dominated the global market with a revenue share of 41.12% in 2023. The growth is attributed to the increasing government initiative, technological advancement in the healthcare industry, and a strong presence of key market players.
• The patient support technology market is competitive, and various players are adopting strategies such as new product launches, partnerships, and acquisitions to strengthen their market share. For instance, in October 2023, ZS launched the AI-powered ZAIDYN Connected Health solution, part of the ZAIDYN by ZS platform. ZAIDYN Connected Health helps pharmaceutical companies, healthcare providers, and payers innovate to understand unmet needs, better engage with patients, and improve health outcomes.

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