Patient Engagement Solutions Market Introduction:
The Patient Engagement Solutions market is a rapidly growing segment of the healthcare industry that is focused on engaging and involving patients in their healthcare journey. Patient Engagement Solutions encompass a range of tools and services, including electronic health records (EHRs), patient portals, mobile apps, and other digital technologies that help patients to stay informed, motivated, and engaged in their health.
The goal of Patient Engagement Solutions is to empower patients to take a more active role in their own healthcare, leading to improved outcomes and better overall health. By providing patients with access to their health information, educational resources, and personalized care plans, Patient Engagement Solutions can help to improve patient satisfaction, reduce healthcare costs, and enhance the quality of care.
Market Size and Growth:
According to the new report by Expert Market Research, the Patient Engagement Solutions market is expected to grow at a CAGR of 18.7% during the forecast period from 2023 to 2028. The market was valued at USD 8.5 billion in 2017 and is expected to reach USD 32.2 billion by 2023.
The market growth is driven by the increasing demand for improved patient outcomes and a growing number of patients with chronic conditions. Chronic diseases are a major cause of morbidity and mortality worldwide, with more than 70% of all deaths being attributed to chronic diseases. Patient Engagement Solutions can play a significant role in managing and treating chronic diseases, leading to improved patient outcomes and reduced healthcare costs.
The increasing use of mobile and digital technologies in healthcare is also driving the growth of the Patient Engagement Solutions market. Patients are increasingly using smartphones and other digital devices to manage their health, and healthcare providers are adopting digital technologies to improve patient engagement and communication.
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Market Segmentation:
The Patient Engagement Solutions market can be segmented based on the type of solution, delivery mode, application, end-user, and region.
Based on the type of solution, the market can be segmented into:
- Patient Portals
- EHRs
- mHealth solutions
- Patient Education
- Others
Based on the delivery mode, the market can be segmented into:
- Web-based
- Cloud-based
- On-premise
Based on the application, the market can be segmented into:
- Health Management
- Social and Behavioral Management
- Home Health Management
- Financial Health Management
Based on the end-user, the market can be segmented into:
- Hospitals and Clinics
- Healthcare Providers
- Payers
- Others
Regional Analysis:
North America is expected to dominate the Patient Engagement Solutions market during the forecast period, due to the high adoption of Patient Engagement Solutions in the region, and the presence of major market players. The region is also characterized by favorable government initiatives to promote the adoption of Patient Engagement Solutions.
Europe is also expected to be a significant market for Patient Engagement Solutions, due to the increasing prevalence of chronic diseases in the region, and the increasing adoption of digital technologies in healthcare.
The Asia Pacific region is expected to experience the highest growth during the forecast period, due to the increasing demand for healthcare technologies, and the growing number of patients with chronic conditions in the region.
Competitive Landscape:
The Patient Engagement Solutions market is highly competitive, with several major players operating in the market. The key players in the market include:
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc.
- Athenahealth, Inc.
- McKesson Corporation
- Medecision, Inc.
These companies are focused on developing innovative solutions to meet the needs of healthcare providers and patients, and are expected to continue to drive the growth of the market.
Conclusion:
The Patient Engagement Solutions market is expected to experience significant growth over the forecast period from 2023 to 2028. The market is driven by several factors, including an increasing demand for improved patient outcomes, a growing number of patients with chronic conditions, and the increasing use of mobile and digital technologies in healthcare. The key players in the market are focused on developing innovative solutions to meet the needs of healthcare providers and patients, and are expected to continue to drive the growth of the market.
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