Patient Engagement Solutions Market by Component (Software, Hardware, Services), by Delivery Mode (Web-Based, Cloud-Based, On-Premises), by Application (Health Management, Home Health Management, Social & Behavioral Health Management, Financial Health Management), by Therapeutic Area (Chronic Diseases, Women’s Health, Mental Health, Fitness), by End User (Providers, Payers, Individuals), by Geography (U.S., Canada, Germany, U.K., France, Italy, Spain, China, Japan, India, Brazil, Mexico, South Africa, Saudi Arabia) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

Patient Engagement Solutions Market Overview

The global patient engagement solutions market generated $8.5 billion revenue in 2017 and is projected to witness a CAGR of 16.9% during 2018–2023. Improved healthcare infrastructure, growing use of mobile health solutions, and increasing demand for wearable health technology are the key factors driving the market growth. Moreover, the government regulations promoting patient-centric care, implementation of value-based programs, and growing use of patient engagement solutions in geriatric population are some of the other driving forces influencing the market growth.

GLOBAL PATIENT ENGAGEMENT SOLUTIONS MARKET, BY COMPONENT, $M (2013-2023)

On the basis of component, the patient engagement solutions market has been categorized into software, hardware, and services. Of these, software held the largest share in the market, accounting for 56.8% in 2017. Software customization is a popular trend across various industries including healthcare, as software solutions help simplify complex data and streamline the healthcare process, which is leading to its increased adoption rate. The category is further classified into integrated and standalone software.

Based on delivery mode, the patient engagement solutions market has been categorized into web-based, cloud-based, and on-premises. Of these, the web-based category held the largest share, of 61.8%, in the global market.

On the basis of application, the patient engagement solutions market has been classified into health management, home health management, social and behavioral management, and financial health management. During the forecast period, demand for patient engagement solutions for home health management is expected to witness the highest growth, with 17.6% CAGR.

These solutions are utilized in different therapeutic areas, such as chronic diseases, women's health, fitness, mental health and others. The chronic diseases for which the patient engagement solutions are used mainly include cardiovascular diseases, cancer, diabetes, and obesity. Several healthcare providers are adopting patient engagement solutions to address the burden of cardiovascular diseases, globally, which has led to the largest share of this category, of 37.6%, in the global patient engagement solutions market for chronic diseases.

Providers held the largest share as an end-user category in the patient engagement solutions market during the historical period. The category is expected to generate revenue of $15.9 billion by 2023, contributing 72.6% market share. The growing need to achieve better clinical outcomes is leading to the high adoption of patient engagement solutions by healthcare providers, globally.

During the forecast period, the patient engagement solutions market is expected to witness the fastest growth in APAC, at a CAGR of 18.8%. The market growth in the region is driven by surging geriatric population, rising prevalence of chronic diseases, and increasing awareness on patient engagement solutions for the management of these diseases.

Patient Engagement Solutions Market Dynamics

Growth Drivers

Government regulations and incentive programs promoting patient-centric care are expected to drive the growth of the patient engagement solutions market. The penetration of smartphones, and 3G and 4G spectrums have enhanced mobile platform capabilities to accommodate healthcare services, thereby encouraging the market growth. Moreover, the implementation of value-based programs results in improved health outcomes, lower healthcare costs, and higher level of patient satisfaction are continuing to drive the market growth. Furthermore, the geriatric population are the major users of healthcare solutions, and their increasing involvement in healthcare decision making and wellness activities through adoption of patient engagement solutions are positively affecting the market growth.

Patient Engagement Solutions Market - Competitive Landscape

Players in the patient engagement solutions market are actively participating in research and development for introducing new solutions to improve patient’s condition. For instance, in April 2018, McKesson Corporation launched a managed-care solution, Health Mart Atlas, which is the largest network of high-performing community pharmacies (as claimed by the company) dedicated to deliver high-quality care. The joint venture by McKesson AccessHealth and American Pharmacy Cooperative Inc.’s (APCI) American Pharmacy Network Solutions (APNS) would manage core pharmacy services administrative organization (PSAO) services.

Some of the other key players in the patient engagement solutions market include Allscripts Healthcare Solutions Inc., athenahealth Inc., Cerner Corporation, International Business Machines Corporation (IBM), Computer Programs and Systems Inc., eClinicalWorks LLC, Epic Systems Corporation, InterSystems Corporation, and Medical Information Technology Inc.