The global patient engagement solutions market size is anticipated to showcase remarkable growth in the forecast period on account of the increasing initiatives taken by the governments of various countries to promote patient-centric care. Patient engagement solutions help to improve patient care and achieve healthy outcomes at relatively lower costs. This solution includes a combination of the patient's knowledge, ability, and skills and how willing he is to take care of himself with the help of communication transparency for promoting positive behavior. Fortune Business Insights in its report, titled, "Patient Engagement Solutions Market Size, Share & Industry Analysis, By Components (Hardware, Software), By Mode of Delivery (Web-based, On-premises, Cloud-based), By Therapeutic Area (Fitness, Chronic Diseases, Women's Health, Others), By Applications(Health Management, Home Health Management, Social and Behavioral Management), By End Users (Hospitals, Ambulatory Surgical Centers, Specialty Clinics) Others and Regional Forecast, 2019-2026," discusses the market in detail by primarily emphasizing on the growth prospects.
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Major Industry Developments of the Market Include:
September 2016 - McKesson Intelligence Hub was launched by McKesson for providing help in business data sharing amongst the healthcare applications.
October 2019 - An organized patient engagement solution was launched by IQVIA for helping to connect patients with life science.
North America Dominates Market Owing to Increasing Cases of Chronic Diseases
North America earned the highest patient engagement solutions market share, followed by Europe. The growth of the North American region is attributed to the rising prevalence of chronic diseases and the rapid acceptance of the internet of things into the healthcare sector. Moreover, the presence of well-established healthcare IT sector is likely to help this region continue dominance. Furthermore, the increasing geriatric population and rise in adoption of digitalization and advanced healthcare technologies such as IT are expected to help Asia Pacific witness rapid growth in the coming years.
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Companies Investing in New Product Launches for Gaining Momentum in Market
The global market for patient engagement solutions is fragmented in nature, with no single company holding dominance. Some players are engaging in collaborative methods such as joint ventures, agreements and contracts, and others to gain a significant position in the market. In contrast, others are investing heavily in research and development to stand out in the crowd and give fierce competition to the others operating in the market.
Segments Present in the Global Market Include:
The global market for patient engagement solutions is categorized on the basis of mode of delivery, applications, components, therapeutic area, and end-users. Bifurcation of the component segment includes software and hardware; sub-categorization of the method of delivery includes cloud-based, on-premises, and web-based. The therapeutic segment is further categorized into women's health, chronic diseases, fitness, and others. Additionally, the applications segment is classified into health management, home health management, social and behavioral management, telemedicine, and others. Furthermore, the end-user segment is grouped into home care settings, research and academic institute, ambulatory surgical centers, hospitals, and others. Various factors are attributed to the sub-dominance of each segment.
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Advent of Information Technology in Healthcare Sector to Augment Growth
The rising prevalence of chronic diseases and the increasing geriatric population with significant healthcare issues are major factors promoting the patient engagement solutions market growth. This, coupled with the increasing adoption of information and technology (IT) in healthcare and medical sector, is adding impetus to the market. Moreover, patient engagement solutions help to easily transmit patient data to the doctors, thereby indulging in quick assessment and take quick diagnostic actions. This is likely to aid in the expansion of the market in the coming years.
The Report Lists the Key Players in this Market:
-- Cisco Systems, Inc.
-- McKesson Corporation
-- IBM Corporation
-- GE Healthcare
-- Boston Scientific Corporation
-- Other players
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By Mode of Delivery
-- Web based
-- On premises
-- Cloud based
By Therapeutic Area
-- Chronic Diseases
-- Women's Health
-- Health Management
-- Home Health Management
-- Social and Behavioral Management
By End Users
-- Ambulatory Surgical Centers
-- Specialty Clinics
-- Research and Academic Institute
-- Homecare Settings
-- North America (USA, Canada)
-- Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
-- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
-- Latin America (Brazil, Mexico, and Rest of Latin America)
-- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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