Patient Engagement Technology Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Services, Hardware, and Software), Therapeutic Area (Fitness, Chronic Diseases, Women’s Health, and others), Delivery Mode (Cloud-Based and On-Premis

Patient Engagement Technology Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Services, Hardware, and Software), Therapeutic Area (Fitness, Chronic Diseases, Women’s Health, and others), Delivery Mode (Cloud-Based and On-Premises), Application (Health Management, Financial Health Management, Home Healthcare Management, and Others), and End User (Patients, Payers, Providers, and Others)

The patient engagement technology market is expected to grow from US$ 21,354.38 million in 2022 to US$ 59,003.21 million by 2028; it is estimated to grow at a CAGR of 18.5% from 2022 to 2028.

Increasing prevalence of chronic disorders such as cardiovascular disorders, diabetes, and obesity, the surge in government initiatives, and the growing number of start-ups are likely to fuel the patient engagement market's growth.

Patient engagement refers to anything that allows healthcare organizations to communicate with their patients, such as using an online patient portal. However, patient involvement is more than just interactive technology such as a portal or automated message. Moreover, the medical procedure scheduled for patients is critical in assuring patient satisfaction. Technology increases service quality and ensures safety. Wireless technologies have been built around the hospital environments through which patients and healthcare providers can manage personalized data. According to a white paper issued by UbiCare, patient engagement system usage reduces [length of stay (LOS)] by 25% per day for hip replacement patients and 13% for knee replacement patients. For instance, in 2021, an innovative patient engagement program, enhanced recovery after surgery (ERAS), was implemented at university hospitals (UH), which yielded notable results. According to a news release, it led to shorter hospital stays, less use of opioids, fewer post-surgical infections, and lower costs for patients. The program included pre-operative counseling to set expectations with patients and families, optimizing pre-operative and post-operative nutrition, minimizing the use of narcotic pain relievers after surgery, promoting early mobility after surgery, and getting patients healthier. ERAS was first implemented at UH Cleveland Medical Center and used at all hospitals across the UH system. Further, in May 2022, the program won the Patient Engagement Best Practice Award from the Ohio Patient Safety Institute for 2021.

Patient empowerment through enhanced health knowledge, timely appointment scheduling with doctors/caregivers, increasing adherence to recommended medical treatments, and rising interaction with providers via online tools are advantages of patient engagement technology solutions. These solutions are adopted based on the level of patient empowerment they provide. When patients access their medical records and track their progress, they become more engaged in their care. Thus, benefits associated with the patient engagement system are promoting the patient engagement technology market growth.

The COVID-19 pandemic has accelerated the rise of digital health, a broad concept that includes solutions for telemedicine and teleconsultation, connected devices, and digital health platforms and health apps. The concept covers the related health data analysis and components in systems based on big data, such as epidemiological research and AI-enabled diagnosis support. Digital technologies for the digital delivery of healthcare are becoming critical during the ongoing COVID-19 pandemic. They are used for online medical consultations from home to increase efficiency in diagnosing and treating patients through telemedicine. For instance, the Organization for Economic Co-operation and Development (OECD) reported in January 2020 that telemedicine is being used to deliver healthcare in a wide range of specialties through various means that can improve health outcomes across a range of therapeutic areas, such as diabetes, asthma, cardiovascular disease, and ophthalmology. The European Commission suggested the EU4Health program as part of a COVID-19 recovery response program, according to the essay The European digital health revolution in the aftermath of COVID-19, released in April 2021. The effort aims to raise EUR 5.1 billion for the European health industry's digital transformation and enable cross-border health hazard preparedness in the future. Over the research period, increased government investments in the digital transformation of healthcare will drive patient engagement technology market growth. Thus, the COVID-19 pandemic had a positive effect on the patient engagement technology market.

The global patient engagement technology market is segmented based on component, therapeutic area, delivery mode, application, and end user. Based on product type, the market is segmented into services, software, and hardware. In 2022, the software segment accounted for the largest share of the market; it is further expected to continue its dominance over the forecast period. The software is mostly used in patient engagement technology-based products as it helps patients connect with healthcare providers and receive required services. Moreover, the software segment is expected to register the highest CAGR in the patient engagement technology market from 2022 to 2028.

Based on therapeutic area, the patient engagement technology market is segmented into fitness, chronic diseases, women’s health, and others. The chronic diseases segment held the largest share of the market in 2022; however, the fitness segment is anticipated to register the highest CAGR in the market during the forecast period.

Based on delivery mode, the patient engagement technology market is bifurcated into cloud-based and on-premises. The cloud-based segment held the largest share of the market in 2022, and it is anticipated to register the highest CAGR in the market during the forecast period.

Based on application, the patient engagement technology market is segmented into health management, financial health management, home health management, and others. The health management segment held the largest share of the market in 2022, and it is anticipated to register the highest CAGR in the market during the forecast period.

Based on end user, the patient engagement technology market is segmented into patients, payers, providers, and others. The providers segment held the largest share of the market in 2022, however, the payers segment is anticipated to register the highest CAGR in the market during the forecast period.

American Hospital Association, Information and Communications Technology Council (ICTC), World Health Organization, Centers for Disease Control and Prevention (CDC), National Statistics Institute (INE), and Organization for Economic Co-operation and Development (OECD) are among the primary and secondary sources referred to while preparing the report on the patient engagement technology market.

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The List of Companies - Patient Engagement Technology Market

1. Allscripts Healthcare, LLC
2. athenahealth, Inc.
3. GetWellNetwork, Inc.
4. AdvancedMD, Inc.
5. Cerner Corporation
6. Epic Systems Corporation
7. Orion Health group of companies.
8. McKesson Corporation
9. Lincor, Inc.
10. Medecision