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Patient Engagement Solutions Market Size Report 2022-2030

The patient engagement solutions market size is expected to reach around US$ 102.46 billion by 2030, growing at a CAGR of 20.3% every year, according to a 2022 study by Precedence Research, the Canada-based market Insight Company.

Patient Engagement Solutions Market Size 2022 to 2030

The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2022 to 2030. The patient engagement solutions market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

The patient engagement solutions include a variety of services as well as accompanying healthcare information technology and hardware. These services are used to get patients involved in their own health. These platforms employ a patient-centered healthcare delivery system to improve health outcomes and ensure value-based care, which is expected to boost the growth of the global patient engagement solutions market during the forecast period.

The adoption of government regulations and initiatives to patient-centric care as well as an increase in demand for patient engagement solutions and the use of mobile health applications are driving the expansion of the global patient engagement solutions over the projection period. The patient engagement solutions have become increasingly popular as the global burden of chronic diseases and the geriatric population has grown.

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Patient Engagement Solutions Market Scope
Report Coverage Details
Market Size by 2030 USD 102.46 Billion
Growth Rate from 2022 to 2030 CAGR of 20.3%
Base Year 2021
Largest Market North America
Fastest Growing Market Asia Pacific
Forecast Period 2022 to 2030
Patient Engagement Solutions Market Report Highlights
Patient Engagement Solutions Market Regional Snapshot

North America is the largest segment for patient engagement solutions market in terms of region. This is attributed due to an increase in the quantity of high-quality healthcare services as well as increased legislative reforms and new incentive-based payment mechanisms.

Asia-Pacific region is the fastest growing region in the patient engagement solutions market. The patient engagement solutions market opportunities in Asia-Pacific region are being created by factors such as rising healthcare spending, increased awareness of mobile health, and favorable regulatory frameworks.

Patient Engagement Solutions Market Dynamics

Drivers

Growing importance of health tracking software

The health tracking is becoming more common as the prevalence of health issues rises. The patients in today’s technologically advanced world have access to information that can help them receive individualized care and keep track of their health. People are increasingly keeping track of their health data and many of them share it with their health and fitness coaches and doctors in order to keep track of their health. The health and fitness tracking devices, which are in great demand, are also helping to drive the growth of patient engagement solutions market during the forecast period.

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Restraints

High cost of patient engagement solutions deployment

The healthcare information technology systems are expensive software solutions. Furthermore, the cost of software updates and operating costs may exceed the cost of the product. The maintenance and support services which include software upgradation and modification are a recurrent cost that accounts for more than half of the total cost of ownership. Due to a lack of internal information technology experience in the healthcare industry, end users must be trained in order to maximize the productivity of various healthcare information technology solutions, which increases the system’s cost. Thus, the high cost of patient engagement solutions is hindering the growth of the market.

Opportunities

Technological advancements

The patients can share information through technology to help with personalized care and health monitoring for those with chronic care and health monitoring for those with chronic illnesses. The number of patients who track their health data has risen and many are prepared to disclose information in order to keep track of their health. The incorporation of technologies such as patient engagement technology, artificial intelligence (AI), the internet of things, health information technology solutions are expected to result in the development of patient engagement solutions features and capabilities. As a result, the technological advancements is creating lucrative opportunities for the growth of the patient engagement solutions market during the forecast period.

Challenges

Lack of data security

The problems about the security of patient health data are obstructing the transfer of the information among healthcare practitioners. As a result, patient engagement initiatives in various healthcare organizations are being hampered and the adoption of patient engagement solutions among prospective end users is being limited. Thus, the lack of data security is a major challenge for the growth of the patient engagement solutions market over the projection period.

Some of the prominent players in the global patient engagement solutions market include:

Segments Covered in the Report

By Delivery Type

By Component

By End Use

By Application

By Therapeutic Area

By Functionality

By Geography

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