psalexa

North America Patient Engagement Solutions Market Research Report: By Component (Software, Hardware, Services), Delivery Mode (Web Based, Cloud Based, On-Premise), Application (Health Management, Home Health Management, Social & Behavioral Management, Financial Health Management), Therapeutic Area (Chronic Diseases, Women Health, Fitness, Mental Health), End User (Providers, Payers, Individual) – Industry Size, Share, Growth, Trends and Forecast to 2023

  • Published: July 2018
  • Report Code: LS11496
  • Available Format: PDF
  • Pages: 101

Valued at $3.9 billion in 2017, the North American patient engagement solutions market is projected to generate $9.4 billion revenue by 2023, witnessing a CAGR of 15.8% during the forecast period (2018–2023).

Of the two countries in the region, Canada is expected to witness faster growth, in the North American patient engagement solutions market, at a CAGR of 16.3% during the forecast period. The factors driving the market in the country include the increasing prevalence of non-communicable diseases and government initiatives to promote patient engagement solutions, to alleviate the burden of diseases. Furthermore, the Canadian market is advancing due to the growing adoption of healthcare information technology (HIT). For instance, in May 2018, a digital health portal, Carnet santé Québec, was launched, which is an online service that offers the citizens of Québec access to their health information and certain services. Moreover, the portal can be used on computers, tablets, and smartphones.

North America Patient Engagement Solutions Market

Dynamics of North America Patient Engagement Solutions Market

The increasing adoption of cloud-based models is a key trend in the North American patient engagement solutions market. The cloud-based system offers mobility of records and speedy transfer of data, results in a reduction in healthcare costs, and keeps the patients’ data secure. Moreover, market players are acquiring other companies, to expand their cloud-based technology platform. For instance, in May 2018, Allscripts Healthcare Solutions Inc. completed the acquisition of HealthGrid Holding Company, a mobile enterprise patient engagement solution provider. As per the terms of the agreement, Allscripts integrated HealthGrid’s capabilities into its FollowMyHealth platform (cloud-based), leveraging existing patients’ contact information, thereby allowing the patients to connect with their healthcare providers at any point of time.

The increasing utilization of mobile health solutions has raised the demand for healthcare apps. It has further enabled patients to access electronic health records (EHR) and e-prescriptions and store health data on the cloud, which has led to the growing uptake of cloud-based patient engagement solutions. According to a study conducted by the Pew Research Center, approximately 77% of the people in the U.S. are smartphone users, and most of them used mobile health applications in 2017. These users included healthcare professionals and patients. Moreover, the penetration of smartphones and 3G and 4G spectrums are widening the application of the mobile platform for providing healthcare services, thereby enhancing the growth prospects of the patient engagement solutions market in North America.

North America Patient Engagement Solutions Market

North America Patient Engagement Solutions Market Segmentation Analysis

The software component held the largest share in 2017. This can be ascribed to the presence of a large number of North American patient engagement solutions market players, increasing prevalence of chronic diseases, and rising government initiatives to support the adoption of patient engagement solutions.

The cloud-based delivery mode would be the fastest growing category in the North American region, during the forecast period. The market growth in this category is mainly due to the flexibility, scalability, and affordability of cloud-based solutions in healthcare settings.

Health management was the most common application for which patient engagement solutions are utilized in the region, becoming the largest revenue contributor to the North American patient engagement solutions market in 2017. The increasing prevalence of chronic diseases and growing demand for such solutions, especially by the elderly, are the key factors propelling the growth in this category.

The fastest growth is projected to be witnessed by the chronic diseases therapeutic area in the coming years, primarily due to the increasing prevalence of cardiovascular diseases.

Providers held the largest share, as an end user, in the North American patient engagement solutions market during the historical period (2013–2017). The category is further expected to contribute 72.2% revenue by 2023, progressing at a CAGR of 16.1% during the forecast period. The growing need to reduce the healthcare cost and increasing number of chronic disease patients are contributing to the prosperity of this end-user category.

North America Patient Engagement Solutions Market (2013-2023) Report Coverage
Report Attribute Details
Historical Years 2013-2017
Forecast Years 2018-2023
Market Size by Segments Component, Delivery Mode, Application, Therapeutic Area, End User
Market Size of Geographies U.S., Canada
Market Players Allscripts Healthcare Solutions Inc., McKesson Corporation, athenahealth Inc., International Business Machines Corporation (IBM), Cerner Corporation, Lincor Inc.

Geographical Analysis of North America Patient Engagement Solutions Market

The U.S. held the larger share, of 87.6%, in the North American patient engagement solutions market in 2017. The growth of the U.S. market is mainly driven by the increasing prevalence of chronic diseases, rising geriatric population, developed private and public medical reimbursement structure, and advanced healthcare infrastructure. According to the United Nations (UN) publication, World Population Ageing 2017, in the U.S., the number of people aged 60 years or above was approximately 69.7 million in 2017, and it is expected to reach 108.4 million by 2050.

Canada is expected to witness faster growth, at a CAGR of 16.3%, during the forecast period. The market growth in the country is primarily due to the swift adoption of HIT and increasing government support for the sector.

Competitive Landscape of North America Patient Engagement Solutions Market

The North American patient engagement solutions market is consolidated in nature, due to the presence of concentrated players, who are extensively involved in the manufacturing and commercialization of cloud-based solutions. These include Allscripts Healthcare Solutions Inc., McKesson Corporation, athenahealth Inc., International Business Machines Corporation (IBM), Cerner Corporation, and Lincor Inc.

Recent Strategic Developments of North America Patient Engagement Solutions Market Players

In recent years, the major players operating in the North American patient engagement solutions market have actively engaged in mergers and acquisitions to gain a competitive edge. For instance, in in July 2017, McKesson Specialty Health completed the acquisition of intraFUSION, a Houston-based provider of management services for physician office infusion centers. The resulting organization will bring new infusion management capabilities to McKesson’s broad portfolio of offerings for community-based physician practices.

Similarly, in June 2017, athenahealth Inc. entered into an agreement to acquire Praxify Technologies Inc. This acquisition would advance athenahealth's platform strategy and mobile capabilities, to drive frictionless workflows and intelligence during the entire patient care process. Further, it will accelerate research and development initiatives, by adding significant expertise in mobile and user experience design, through the integration of Praxify’s technologies into athenahealth's cloud platform.

North America Patient Engagement Solutions Market Size Breakdown by Segment

The North America Patient Engagement Solutions Market report offers comprehensive market segmentation analysis along with market estimation for the period 2013–2023.

Based on Component

  • Software
    • Integrated software
    • Standalone software
  • Hardware
  • Services
    • Consulting services
    • Education services

Based on Delivery Mode

  • Web based
  • On-premise
  • Cloud based

Based on Application

  • Health management
  • Home health management
  • Social and behavior management
  • Financial health management

Based on Therapeutic Area

  • Chronic diseases
    • Cardiovascular diseases
    • Cancer
    • Diabetes
    • Obesity
  • Women health
  • Fitness
  • Mental health

Based on End User

  • Providers
  • Payers
  • Individuals

Geographical Analysis

  • North America
    • U.S.
    • Canada

Key Questions Addressed in the Report

  • What is the current scenario of the North American patient engagement solutions market?
  • What are the historical size and the present size of the categories within the market segments and their future potential?
  • What are the major catalysts for the market and their expected impact during the short, medium, and long terms?
  • What are the evolving opportunities for the players in the market?
  • Which are the key regions from the investment perspective?
  • What are the key strategies being adopted by the major players to up their market shares?
  • What are the challenges faced by the market players?
Place An Order
USD 3500 USD 4200 USD 5200
Customized Report Solution

Get a bespoke market intelligence solution

 
We are committed to ensuring the highest level of client satisfaction
Quality Acknowledgement
Quality Acknowledgement

Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you

Unmatched Standards
Unmatched Standards

Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights

Reach Us
Reach Us Whenever You Need Us

With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required

Data Security
Complete Data Security

We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws