Patient Experience Technology Market: Current Analysis and Forecast (2022-2028)

Patient Experience Technology Market: Current Analysis and Forecast (2022-2028)

The patient experience refers to all of the contacts patients have with the healthcare system, including how they are treated by health plans, physicians, nurses, and other medical professionals working in hospitals, physician offices, and other healthcare facilities. The digitalization of the processes such as patient registration, appointment booking, data collation, and others by the use of the latest technology comes under the patient experience technology. Further, the increasing number of service launches along with the rising public-private partnerships is also an important factor for the market growth of patient experience technologies. For instance, in March 2023, New Metrics launched a patient experience program in the United Arab Emirates, the company in partnership with Danat Al Emarat and its technology partners, SAP Mena and Qualtrics, will enable the hospital to continuously improve the patient experience through direct feedback data. This will enable proactive actions to delight patients by better understanding the impact of operational data on the delivered experience.

The Patient Experience Technology Market is expected to grow at a strong CAGR of 10% during the forecast period owing to the increasing adoption of advanced technology in the healthcare sector and the rising prevalence of chronic diseases. For instance, as per the WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.

• Based on components, the market is segmented into digital patient engagement, patient contact center tracking, patient contact centers, patient experience surveys, patient live chat engagement, and others. Digital patient engagement held dominant share in 2021. This is mainly due to theapplications providing features that can track vital signs such as heart rate and blood pressure, which becomes useful in monitoring various diseases.
• On the basis of end-users, the market is segmented into hospitals, clinics, and home care settings. The hospital segment held a significant share of the patient experience technology market in 2021. This is mainly due to the rising need for streamlined workflow, and increasing usage of the patient engagement portals attributes to the considerable share of the patient experience technology market.
 
• For a better understanding of the market adoption of the patient experience technology industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Netherlands, France, Norway, Switzerland, Denmark, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Rest of World. North America dominated the patient experience technology market in 2021 due to the increasing partnerships among the industries in the region are also an important reason for the dominating share of the region. For instance, in January 2023, CipherHealth announced a partnership with SADA to improve the patient experience. As a result of the partnership, CipherHealth’s customers which include 500 hospitals across the US can now access social determinants of health (SDOH) patient data leveraging embedded analytics, including demographic data, to segment patient populations so they can deliver unique, tailored outreach messages to each.
• Some of the major players operating in the market include Sodexo; Press Ganey; Vocera Communications; Huron Consulting Group Inc; Aramark; CipherHealth Inc.; Accenture; Qualtrics LLC; GetWellNetwork, Inc.; and HybridChart, Inc.