Patient Engagement Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Patient Engagement Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : January, 2023 | Healthcare IT

Report Digest

Patient Engagement Solutions MarketOverview

The patient engagement solutions market is predicted to expand at a stellar growth rate over the forecast period from 2020 to 2030. Factors such as increasing utilization of electronic health records for patient-centric healthcare and rapid adoption of mobile devices for healthcare are creating massive opportunities in the patient engagement solutions market. According to a survey conducted by the NHS, in 2019, approximately 92 % patients felt to be empowered using self-managing treatment solutions.

Key parameters based on which the patient engagement solutions market is divided are delivery type, end user, application, component, therapeutic area, and region.

The report provides a holistic analysis of the patient engagement solutions market for the 2020 – 2030 forecast period. The report delves into demand dynamics, growth indices, trends, and opportunities that could influence the growth curve of the patient engagement solutions market over the assessment period. Lastly, the report examines the competitive landscape with valuable insights into growth strategies of key players in the patient engagement solutions market.

Patient Engagement Solutions Market – Competitive Landscape

The patient engagement solutions market is a chock-a-block with both small and large companies demonstrating an intensely competitive vendor landscape. The entry of several startups in the patient engagement solutions space is likely to intensify competition in the patient engagement solutions market.

Keen players are engaged in inorganic and organic growth strategies to expand their footprint in the overall patient engagement solutions market. For example, in September 2019, Cerner and GetWellNetwork partnered to minimize communication gaps between healthcare service providers and patients from inpatient to outpatient settings and home care.

Prominent players operating in the patient engagement solutions market include;

  • Allscripts Healthcare Solutions
  • Orion Health Ltd.
  • Phytel Inc.
  • GetWellNetwork Inc.
  • Lincor Solutions Ltd.
  • Cerner Corporation
  • McKesson Corporation
  • Medecision Inc.
  • YourCareUniverse Inc.
  • Athenahealth Inc.

Patient Engagement Solutions Market – Key Trends

First and foremost, growing burden of chronic diseases and rise in the geriatric population is necessitating the adoption of technology-driven patient care solutions. For example, according to statistics of the American Diabetes Association, 1.5 million new diabetes cases were registered in the U.S. in 2020. To address such enormous increase in the number of diabetic patients, large healthcare technology companies are focused on developing patient-centered engagement solutions. For instance, Roche rolled out a digital platform in December 2020 to personalize diabetes management in Thailand.

The outbreak of COVID-19 has led to enormous burden on public healthcare systems worldwide. Healthcare institutions are grappling to provide patient care to the continuous rise in the number of coronavirus patient that need to be served on priority. This forced health service providers to put patients of chronic diseases on self-managing patient engagement solutions in the larger interest to contain the spread of coronavirus.

Patient Engagement Solutions Market – Regional Assessment

North America held the leading revenue among other key regions in the patient engagement solutions market in the recent past. Factors such as substantial use of mhealth services and widespread practices of electronic health records (EHR), and hefty investments by large companies for advancement of patient engagement solutions accounts for leading revenue share of the region. In addition, high awareness of electronic health records and government spending for continual modernization of healthcare accentuates growth in the patient engagement solutions market in the region.

Europe trailed North America in terms of revenue share in the patient engagement solutions market in the recent past. The presence of a public healthcare system in some countries such as the U.K. which is majorly publicly funded is leading to rapid deployment of avant-garde healthcare systems including patient engagement solutions.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?