Patient Engagement Solutions Market by Component (Software, Services), Delivery (On-Premise, Cloud), Therapy Area (CVD, Diabetes, Obesity, Fitness), Functionality (E-prescribing, Virtual care), End User (Provider, Payer, Patients) - Global Forecast to 202

Patient Engagement Solutions Market by Component (Software, Services), Delivery (On-Premise, Cloud), Therapy Area (CVD, Diabetes, Obesity, Fitness), Functionality (E-prescribing, Virtual care), End User (Provider, Payer, Patients) - Global Forecast to 2027

The patient engagement solutions market is projected to reach USD 27.9 billion by 2027 from USD 17.3 billion in 2022, at a CAGR of 10.0% during the forecast period. The growth of this market is driven by the adoption and changes in government regulations to promote patient-centric care and involve patients throughout the care journey, high demand for patient engagement solutions, and the growing utilization of m- health apps.

However, interoperability issues for patient engagement solutions and a dreadth of skilled IT professionals in the healthcare industry are expected to restrain the growth of this market during the forecast period.

“Services segment is expected to grow at the highest rate during the forecast period”

On basis of components, the patient engagement solutions market is segmented into software, hardware, and services. The software segment accounted for the largest share of the global patient engagement solutions market in 2021. The software market is further segmented into standalone solutions and integrated solutions. In 2021, the integrated solutions segment has accounted for the larger share of this market & is also expected to grow at the highest CAGR during the forecast period.

However, the services segment is expected to grow at the highest CAGR during the forecast period. The high growth of the services segment can be attributed to the services being indispensable for the application of deployed solutions.

“The On-premise solutions segment is estimated to account for the largest share of the Patient Engagement Solutions market in 2022”

Based on delivery mode, the patient engagement solutions market is segmented into on-premise and cloud-based solutions. In 2021, the on-premise solutions segment accounted for the largest share of the global patient engagement solutions market. However, the cloud-based solutions segment is expected to register the highest CAGR during the forecast period. The flexibility, scalability, and affordability are the features offered by cloud-based solutions that are supporting its growth in the patient engagement solutions market.

“Health management segment in the applications accounted for the largest share of the global patient engagement solutions market”

Based on application, the patient engagement solutions market is segmented into health management, home health management, social and behavioral management, and financial health management. The health management applications segment accounted for the largest share of the global patient engagement solutions market in 2021. The large share of this segment can be attributed to the increased awareness among patients about the health conditions cause by severe diseases and their willingness to actively participate in maintaining their own health.

“Chronic diseases among the therapeutic areas accounted for the largest share of the global patient engagement solutions market”

Based on the therapeutic area, the patient engagement solutions market is segmented into chronic diseases, women’s health, fitness, and other therapeutic areas. The chronic diseases segment accounted for the largest share of the global patient engagement solutions market in 2021. The large share of this segment can be attributed to the increase in various chronic diseases and the need to manage these conditions with reduced healthcare costs.

“The E- Prescribing functionality is expected to grow with the highest CAGR during the forecast period”

Based on functionality, the patient engagement solutions market is segmented into E-prescribing, virtual consultation, patient/client scheduling, and document management. The patient/client scheduling segment accounted for the largest share of the global patient engagement solutions market in 2021. The large share of this segment can be attributed to the increasing productivity and efficient care through proper scheduling of appointments. The E- Prescribing segment is expected to grow with the highest CAGR during the forecast period

“Providers' segment accounted for the largest share of the global patient engagement solutions market”

Based on end users, the patient engagement solutions market is segmented into providers, payers, patients, and other end users. The providers' segment accounted for the largest share of the global patient engagement solutions market in 2021. High adoption of patient engagement solutions to curtail rising healthcare costs, offer value-based care, and improve financial outcomes are factors that are supporting the growth of this segment. Patient engagement solutions also help providers to improve patient experience, meet the increasing demand for convenient access to health information, and better serve patients to self-manage their care.

“North America to dominate the patient engagement solutions market in 2022”

North America accounted for the largest share of the global patient engagement solutions market in 2021. Changing government initiatives and regulations in the region , the need to cut down on healthcare costs, the rising prevalence of chronic diseases, and the key market players operating in the region are the key factors driving the growth of the patient engagement solutions market in North America.

The Asia Pacific market is projected to register the highest CAGR during the forecast period, owing to the increasing adoption of HCIT solutions and the growing prevalence of chronic diseases in the region.

Breakdown of supply-side primary interviews, by company type, designation, and region:

By Company Type: Tier 1 (41%), Tier 2 (31%), and Tier 3 (28%)

By Designation: C-level (44%), Director-level (35%), and Others (21%)

By Region: North America (46%), Europe (26%), Asia Pacific (18%), and RoW (10%)

Prominent players in this market are IBM (US), McKesson Corporation (US), Allscripts (US), Cerner Corporation (US), Epic Systems Corporation (US), Orion Health (New Zealand), GetWellNetwork (US), athenahealth (US), Oneview Healthcare (Ireland), MEDITECH (US), IQVIA (US), Get Real Health (US), Cognizant (US), Symphony Care (US), Harris Healthcare (US), Kareo (US), CureMD Healthcare (US), eClinicalWorks (US), and Lincor Solutions (US), AdvancedMD (US), WellStack(US), IQVIA (US), Vivify Health (US), Medhost (US), Validic (US) MEDISYSINC (US), and Patient point LLC (US). These players are increasingly focusing on new product launches and partnerships to expand their product offerings in the patient engagement solutions market.

Research Coverage

The report studies the Patient Engagement Solutions market based on component, delivery mode, therapeutic area, application, functionality, end user, and region

The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth

The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders

The report studies micro-markets with respect to their growth trends, prospects, and contributions to the total remote patient monitoring market

The report forecasts the revenue of market segments with respect to five major regions

Key Benefits of Buying the Report:

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the Patient Engagement Solutions market and provides them information on key market drivers, restraints, challenges, and opportunities.