Patient Engagement Solutions Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Mar 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Patient Engagement Solutions market size is expected to be worth around US$ 80.5 billion by 2030, according to a new report by Vision Research Reports.

The global Patient Engagement Solutions market size was valued at US$ 15.1 billion in 2020 and is anticipated to grow at a CAGR of 21.7% during forecast period 2021 to 2030.

Growth Factors

The market is expected to register exponential growth due to the adoption of m-health increasing prevalence of chronic conditions such as diabetes, asthma, and arthritis; improved healthcare services; enhanced patient education; patient data tracking; and diagnostic treatment.

In January 2021, the Biden-Harris administration opened a “Special Enrollment Period”. Under this action, Americans to sign up for health coverage and roll back attacks on the Medicaid, Affordable Care Act, and access to reproductive health care. Hence, such orders meet the healthcare requirements formed by the COVID-19 outbreak, it will protect access to reproductive health care, and make health care system easier and more unbiassed. Such initiatives are anticipated to drive the demand for these services over the forecast period.

As healthcare providers were battling with the constant upsurge in numerous cases, patients were looking to digital technologies for the support which promoted the adoption of a product. The outbreak has resulted in the introduction of multiple COVID-19- related features patient engagement solutions by various players. The growing number of smartphone users around the globe expedited the adoption of mHealth across the sector both from providers and consumers which in turn, has augmented the dependability of patients on mHealth apps.

Moreover, in March 2019, the American Medical Association entered a collaboration with Patient Point with the aim to access point of care to help prevent the occurrence of cardiovascular diseases and type 2 diabetes. Using Patient Point technology, approximately 6,500 practicing doctors across U.S. are expected to educate individuals regarding disease prevention. Programs such as these are expected to drive market growth over the forecast period.

The necessity of social distancing resulted in the demand for remote patient monitoring solutions along with the prerequisite for the precise and timely exchange of patient wellbeing records. The pandemic has also made healthcare professionals look for alternate methods to traditional processes and systems. As a result, market participants had come up with COVID-19- related features into their existing patient engagement solutions. For instance, in 2020, Orion Health has established the first complete pandemic outbreak monitoring platform to control the spread of the coronavirus. Hence, it led to the adoption of the solutions.

Report Highlights

The web/cloud-based segment dominated the market for patient engagement solutions and held the largest revenue share of 80.0% in 2020. The adoption of these portals is increasing at an alarming rate owing to remote access to real-time data tracking, integrated features, easy accessibility, insignificant handling costs, and easy data backup.

Due to the aforementioned reasons, companies are investing in web/cloud-based patient engagement solutions. For instance, in May 2020, Microsoft launched its first sector-specific cloud i.e., Microsoft Cloud for Healthcare. The platform purposes to aid providers to advance patient engagement and association among health teams by features comprising telehealth and data analytics.

On-premise services provide patient data security, easy retrieval, and ease of access. The inclination for on premise services is primarily due to complete access to the information within the premises.

The providers segment dominated the market for patient engagement solutions and held the largest revenue share of 56.3% in 2020. It is anticipated to register lucrative growth during the forecast period. Providers support better patient engagement solutions owing to improved utilization of routine care processes, patient portals for accessing information and making complex healthcare decisions.

The payers segment held the second-largest revenue share in 2020 as payers are using modalities that promote widespread coverage and enable value-based care delivery. To enhance growth, the payers are intending to manage patient care and connect patients at each stage of the treatment.

The health management segment dominated the market for patient engagement solutions and held the largest revenue share of over 41.0% in 2020. Quick response and enhanced patient compliance for care are the major driving factors for the segment. In May 2019, as per the National Coordinator for Health Information Technology, U.S., hospitals 51.0% of patients were offered online access to their medical records.

The home healthcare management segment is expected to be the fastest-growing segment during the forecast period as this solution helps the patients to maintain appointment schedules, online bill payments, and communicate with the healthcare providers from their homes.

The software segment dominated the market for patient engagement solutions and held the largest revenue share of around 49.0% in 2020. Software is simple to install and use, easy to obtain specific drug information and helps in efficient digital transfer of the prescription. Patient engagement solutions software is used in varied segments such as healthcare management, home healthcare management, and others. Some of the popular software used as patient engagement solutions are NextGen Office—a cloud-based EHR, Kareo is a web-based medical billing and practice management solution, athenahealth’s cloud-based EHR, and others. The software segment is further categorized as integrated and standalone.

The service is one of the crucial parts of the effective operation of patient engagement solutions. It helps in leveraging refined analytics on-premise or in the cloud, which enables predicting and triggering interventions that can use live training methods. This also helps in delivering personalized education to patients that will further increase the adoption behavior. This segment is further divided into consulting, implementation, education, and others.

The chronic diseases segment dominated the market for patient engagement solutions and held a major revenue share of over 43.0% in 2020. Patients suffering from chronic disorders need monitoring and training about diseases. Patient engagement solutions help the patients to connect with their healthcare providers from remote locations, thereby enabling the streamlined flow of information, patient feedback, and other health-related data. For instance, in November 2019, CDC had funded 13 state arthritis management and prevention programs aimed at improving the quality of life and patient monitoring for rural arthritis patients.

Fitness is expected to be the fastest-growing segment during the forecast period. Rising need to enhance the user experience, awareness pertinent to fitness and health, and adoption of wearables, tracking apps are anticipated to provide a lucrative growth platform for this market segment over the forecast period. In addition, the increase in remote work and improved awareness in health monitoring through the coronavirus pandemic further driving the market.

North America dominated the patient engagement solutions market and accounted for the largest revenue share of over 38.0% in 2020. The dominance is due to key drivers inclusive of the adoption of mhealth and EHR, and growing investment in patient engagement software by the major companies. Moreover, increasing awareness level coupled with government spending on the healthcare sector is further expected to accelerate the growth. With the wider adoption of innovative technologies amongst the population, this region is likely to dominate the market.

In Europe, the market held the second-largest revenue share in 2020 owing to publicly funded systems, such as the National Health Services (NHS) in the U.K. For instance, by 2020 the NHS is set to go completely paperless and offered patient access to EHR in 2018. In the Asia Pacific, the market is expected to show lucrative growth during the estimated period. The need to develop new systems, replacement and progression of medical infrastructure is anticipated to address the market with lucrative growth opportunities over the forecast period. Economic development in countries such as India and China is also supporting the growth of this region.

Key Players

  • Allscripts Healthcare Solutions

  • McKesson Corporation

  • Orion Health Ltd.

  • Cerner Corporation

  • Phytel Inc.

  • Medecision Inc.

  • GetWellNetwork Inc.

  • YourCareUniverse Inc.

  • Lincor Solutions Ltd.

  • Athenahealth, Inc.

Market Segmentation

  • Component Outlook

    • Software

      • Standalone

      • Integrated

    • Services

      • Consulting

      • Implementation     

      • Education

      • Others

    • Hardware

  • Delivery Type Outlook

    • Web-based/Cloud-based

    • On-premise

  •  End-Use Outlook

    • Payers

    • Providers

    • Individual Users

  • Application Outlook

    • Social Management

    • Health Management

    • Home Healthcare Management

    • Financial Health Management

  • Therapeutic Area Outlook 

    • Chronic diseases

      • Obesity

      • Diabetes

      • Cardiovascular

      • Others

    • Fitness

    • Women's Health

    • Mental Health

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Netherlands

      • Sweden

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

The Patient Engagement Solutions market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Patient Engagement Solutions market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Patient Engagement Solutions market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Patient Engagement Solutions market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Patient Engagement Solutions market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Patient Engagement Solutions capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Patient Engagement Solutions by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Patient Engagement Solutions market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Patient Engagement Solutions market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Patient Engagement Solutions market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Patient Engagement Solutions industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Patient Engagement Solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Patient Engagement Solutions market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Patient Engagement Solutions market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Patient Engagement Solutions market. These factors have benefited the growth of the global market for Patient Engagement Solutions. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Patient Engagement Solutions. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Patient Engagement Solutions are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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