MAY 02, 2019: The global patient engagement solutions market size is expected to reach USD 56.92 billion by 2026, according to a new report by Radiant Insights Inc. It is anticipated to expand at a CAGR of 20.43% during the forecast period. The supportive government initiatives and rising usage and awareness regarding mobile healthcare services are expected to impel the growth.
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Rising prevalence of chronic conditions is the preliminary factor expected to boost the growth of the patient engagement solutions management market. The mortality rate of diabetic patients was over 1.0 million in 2012, as stated by the World Health Organization (WHO). This spike in the death rate of diabetic patients reflects the lack of knowledge about the causes, symptoms, and preventive measures. The present patient engagement systems aid the patients with educative information; thus, empowering them to make better healthcare decisions.
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The patient engagement solutions assist hospitals in providing financial solutions for effective utilization of the allocated healthcare budget. The market players actively volunteer in obtaining patient feedback regarding the existent solutions to develop better patient engagement plat forms with enhanced quality. Such factors are projected to bode well for market expansion in the forthcoming years.
Moreover, favorable government initiatives and funding efforts undertaken to promote the incorporation of patient engagement solutions in the healthcare sector are anticipated to boost the market growth. For instance, in U.S., under the Health Information Technology for Economic and Clinical Health (HITECH) Act, the government spends around USD 20 billion annually on hospitals for the installation of Electronic Health Records (EHRs), which is expected to help improve the workflow and quality of treatment delivery.
Further key findings from the report suggest:
• Web-based is expected to be the largest delivery mode segment, witnessing at a lucrative CAGR over the forecast period
• North America is expected to lead over the forecast period with a revenue share of over 40.0% by 2026. Favorable government initiatives, such as the Affordable Care Act (ACA) initiated by President Obama and HITECH Act, are anticipated to drive the growth
• Asia Pacific is anticipated to emerge as the fastest growing region with a CAGR of over 20.0% over the forecast period. Increasing healthcare investments, awareness regarding varying types of patient engagement portals, and geriatric population is estimated to catapult the demand
• Some key players operating in the patient engagement solutions market include Allscripts Healthcare Solutions, Inc.; Cerner Corporation; Phytel, Inc.; Athenahealth, Inc.; McKesson Corporation; and MEDecision, Inc.
• To curtail the competition, the key players actively engage in the development of new solutions that facilitate workflow of the existing platforms. For instance, Allscripts Healthcare Solutions, Inc. provides revenue cycle management solutions, which help maintain the financial health of the medical systems.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Information procurement
1.2.1. Purchased database
1.2.2. GVR’s internal database
1.2.3. Secondary sources & third party perspectives
1.2.4. Primary research
1.3. Information analysis
1.3.1. Data analysis models
1.4. Market formulation & data visualization
1.5. Data validation & publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
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