Transparency Market Research has published a new report on the global patient engagement solutions market. As per the report, the global patient engagement solutions market is expected to expand at a 23.0% CAGR from 2015 to 2023. The report, titled ‘Patient Engagement Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,’ states that the market will progress from US$6.66 bn in 2014 to US$34.94 bn by 2023. The introduction of IT in healthcare services and improvements in the quality of healthcare services are some of the factors expected to propel the global patient engagement solutions market in the near future.
Patient engagement solutions offer enhanced healthcare to patients by including electronic devices and advanced IT services in their medical routine. These medical services and solutions assist patients in taking better healthcare-related decisions, thus enabling a healthier life. To deliver enhanced quality healthcare services, patient engagement solutions are supported by healthcare organizations and hospitals. The basic need to use patient engagement solutions is to build a healthy relation between patients and healthcare service providers and promote active participation for self-care.
Since the inclusion of IT in the healthcare industry, the global patient engagement solutions market has gone through many developments. For example, the increasing adoption of electronic healthcare records systems is being seen because of the effective use of IT in healthcare services. Going forward, improved infrastructure is expected to propel the global patient engagement solutions market.
Patient engagement solutions offer many services such as lab reports, medication/appointment reminders, and healthcare tips. With enhanced patient engagement solutions, patients can manage their healthcare expenses in a better way. The global patient engagement solutions market is segmented on the basis of end user, region, and delivery mode. By delivery mode, the global patient engagement solutions market is classified into software as a service (SaaS), application managed services, and self-hosted services. In 2014, the global patient engagement solutions market was dominated by the self-hosted service segment. However, the SaaS segment is predicted to expand at a 23.60% CAGR from 2015 to 2023 owing to the increasing adoption of HCIT services by healthcare service providers and hospitals.
By end user, in 2014, the global market for patient engagement solutions was dominated by the hospitals and providers segment. Pharmaceutical companies and healthcare payers are two of the other end-user segments of patient management solutions. In 2014, the hospitals and providers segment accounted for 42.4% of the global patient engagement solutions market. However, the pharmaceutical companies segment is predicted to expand at a 24.1% CAGR from 2015 to 2023.
The global patient engagement solutions market is geographically spread across regions such as North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Some of the key companies operating in the global patient engagement solutions market are McKesson Corporation, Medecision, Inc., Emmi Solutions, LLC, GetWellNetwork Inc., Athena Health, Inc., Axial Exchange Inc., Phytel, Inc. (An IBM Company), Allscripts Healthcare Solutions, and Orion Health Ltd.
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