Delving into Global Demand and Trends in the Patient Engagement Solutions Market

The patient engagement solutions market size has grown rapidly in recent years. It will grow from $20.65 billion in 2023 to $23.55 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to shift towards value-based care, empowerment of informed patients, focus on preventive healthcare, personalized health plans and care journeys, population health management strategies..

The patient engagement solutions market size is expected to see rapid growth in the next few years. It will grow to $42.78 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to remote patient monitoring, personalized medicine, patient-reported outcomes, focus on health literacy, data analytics for population health management, precision medicine initiatives, focus on health equity, enhanced personalization through predictive analytics.. Major trends in the forecast period include telehealth and remote monitoring integration, data interoperability and integration with ehrs, two-way communication and teleconsultation, focus on user-centric design, patient education and health literacy initiatives..

Market Overview -
The patient engagement solutions refers to a passive or active electronic system designed to communicate with patients to maintain their health through health management software and hardware. Healthcare providers use various technologies to reassure and engage their patients through wearables, mobile apps, educational resources, and others. These solutions enable patients to have quick access to physicians, real-time monitoring of vital body signs, and electronic record storage to make well-informed health decisions.

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Rising Chronic Disease Prevalence Drives Growth In Patient Engagement Solutions Market
The increasing prevalence of chronic diseases is significantly driving the growth of the patient engagement solutions market. Patient engagement solution is crucial in chronic disease management as patients with chronic conditions constant monitoring their health and the minor changes occurring in their bodies. These patient engagement solutions keep patients informed and engaged in their care program and adhere to the treatment plans, leading to more compliant patients, increased communication, more proactive interventions, lower costs, and higher quality of care. For instance, according to the study published by the National Council of Aging in 2021, in the United States, approximately 85% of older adults have been affected by one chronic disease, while 60% of older adults are affected by two or more chronic diseases. Therefore, the increasing prevalence of chronic diseases is expected to boost the patient engagement solution industry during the forecast period.

Competitive Landscape -
Major companies operating in the patient engagement solutions market report are Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions Inc., McKesson Corporation, athenahealth Inc., International Business Machines Corporation, Medecision Inc., Orion Health Ltd., GetWellNetwork Inc., Oneview Healthcare PLC, Medical Information Technology Inc., IQVIA Holdings Inc., Computer Programs and Systems Inc., Cognizant Technology Solutions Corporation, Symphony Care LLC, Harris Computer Corporation, Kareo Inc., CureMD Healthcare Inc., eClinicalWorks LLC, Well-Beat Interactive Limited, AdvancedMD Inc., WellSky Inc., CipherHealth Inc., drchrono Inc., Luma Health Inc., PatientPoint LLC, Experian Health PLC, Agilon Health Inc., Medtronic plc, Physitrack Health Pty. Ltd.

Technological Innovation Drives Advancements In The Patient Engagement Solutions Market
Technological innovation is a key trend gaining popularity in the patient engagement solutions market. Major companies operating in the patient engagement solutions market are focused on providing technologically-advanced solutions with integration of innovative features such as salesforce CRM, video API, text API, end to end patient engagement through AI and ML to strengthen their market position. For instance, In March 2022, UST, a US-based based provider of digital transformation solutions, and Well-Beat, an Israeli start-up added human touch to healthcare through behavioral AI. They jointly developed a digital patient engagement SaaS solution that takes patient records based on data from short surveys, medical records, and linked devices to give intelligent interventions and personalized patient experiences.

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Key Segments -

The patient engagement solutions market covered in this report is segmented -

1) By Component: Software & Hardware, Services
2) By Delivery Type: Web And Cloud-Based, On-Premise
3) By Application: Health Management, Home Health Management, Social and Behavioural Management, Financial Health Management
4) By Therapeutic Area: Chronic diseases, Women's Health, Fitness, Other Therapeutic Areas
5) By End-User: Payers, Providers, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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