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[Research Report] The patient engagement technology market is expected to grow from US$ 21,354.38 million in 2022 to US$ 59,003.21 million by 2028; it is expected to register a CAGR of 18.5% from 2022 to 2028.
Patient engagement technology enables patients to be involved in self-care and significantly increases healthcare understanding regarding their health condition, allowing patients to make informed decisions regarding healthcare. The rising adoption of a patient-centric approach, shortage of nursing staff and doctors, and rising numbers of start-ups are the key factors that are driving the growth of the patient engagement technology market. However, the shortage of skilled IT technicians and the risks of cyber threats hamper the market growth.
The report offers insights and in-depth analysis of the patient engagement technology market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players globally. It also includes the impact of the COVID-19 pandemic on the market across all regions. The COVID-19 pandemic sparked new developments in patient monitoring and cloud computing. For instance, GE Healthcare unveiled in April 2020 an innovative cloud-based remote-monitoring technology to help doctors care for ventilated COVID-19 patients. EmOpti, a company established in the US, provides a telehealth platform compatible with patient electronic health information (EHR). The startup provides the EmOpti Requestor, which consists of a nursing device and a patient device. Nurses and technicians can effectively control variable patient numbers due to the proprietary hardware and software. EmOpti Insights is a collection of carefully chosen real-time patient flow analytics for healthcare professionals. This allows the EmOpti Responder to monitor and act across various facilities in a hospital environment. As a result, the COVID-19 pandemic is expected to impact digital transformation significantly. Thus, these factors have shown steady growth in the patient engagement technology market.
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Published Report - Patient Engagement Technology Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Published Report - Patient Engagement Technology Market: Strategic Insights
Mrinal
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Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
The patient engagement technology market is segmented into component, therapeutic area, delivery mode, application, end user, and geography. By region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Market Insights
Rising Adoption of Patient-Centric Engagement Solutions
Rising Adoption of Patient-Centric Engagement Solutions
Patient engagement refers to anything that allows healthcare organizations to communicate with their patients, such as using an online patient portal. However, patient involvement is more than just interactive technology such as a portal or automated message. Moreover, the medical procedure scheduled for patients is critical in assuring patient satisfaction. Technology increases service quality and ensures safety. Wireless technologies have been built around the hospital environments through which patients and healthcare providers can manage personalized data. According to a white paper issued by UbiCare, patient engagement system usage reduces [length of stay (LOS)] by 25% per day for hip replacement patients and 13% for knee replacement patients. For instance, in 2021, an innovative patient engagement program, enhanced recovery after surgery (ERAS), was implemented at university hospitals (UH), which yielded notable results. According to a news release, it led to shorter hospital stays, less use of opioids, fewer post-surgical infections, and lower costs for patients. The program included pre-operative counseling to set expectations with patients and families, optimizing pre-operative and post-operative nutrition, minimizing the use of narcotic pain relievers after surgery, promoting early mobility after surgery, and getting patients healthier. ERAS was first implemented at UH Cleveland Medical Center and used at all hospitals across the UH system. Further, in May 2022, the program won the Patient Engagement Best Practice Award from the Ohio Patient Safety Institute for 2021.
Patient empowerment through enhanced health knowledge, timely appointment scheduling with doctors/caregivers, increasing adherence to recommended medical treatments, and rising interaction with providers via online tools are advantages of patient engagement technology solutions. These solutions are adopted based on the level of patient empowerment they provide. When patients access their medical records and track their progress, they become more engaged in their care. Thus, benefits associated with the patient engagement system are promoting the patient engagement technology market growth.
Component-Based Insights
Based on component, the global patient engagement technology market is segmented into services, software, and hardware. In 2022, the software segment accounted for the largest share of the market; it is further expected to continue its dominance over the forecast period. The software is mostly used in patient engagement technology-based products as it helps patients to connect with healthcare providers and receive required services. Moreover, the software segment is expected to register the highest CAGR in patient engagement technology market from 2022 to 2028.
Therapeutic Area-Based Insights
Based on therapeutic area, the patient engagement technology market is segmented into fitness, chronic diseases, women’s health, and others. The chronic diseases segment held the largest market share in 2021. However, the fitness segment is anticipated to register the highest CAGR during the forecast period.
Delivery Mode-Based Insights
Based on delivery mode, the patient engagement technology market is bifurcated into cloud-based and on-premises. The cloud-based segment held the largest market share in 2021 and is anticipated to register the highest CAGR during the forecast period.
Application-Based Insights
Based on application, the patient engagement technology market is segmented into health management, financial health management, home health management, and others. The health management segment held the largest market share in 2021, and it is anticipated to register the highest CAGR during the forecast period.
End User-Based Insights
Based on end user, the patient engagement technology market is segmented into patient, payers, providers, and others. In 2021, the providers segment held the largest share of the market. However, the payers segment is expected to register the highest CAGR in the patient engagement technology market from 2021 to 2028.
The patient engagement technology market players adopt organic strategies such as product launch and expansion to expand their footprint and product portfolio worldwide and meet the growing demand. In April 2022, Medecision and Clearstep, Inc., a healthcare technology company entered into a strategic partnership. The partnership will bring Clearstep’s Smart Care Routing to Medecision’s current and future health system and health plan customers, enabling an enhanced patient engagement experience. The AI technology will be available through Medecision’s HITRUST CSF-certified, SaaS solution, Aerial. Clearstep Smart Care Routing provides patient-consumers with self-service access to the right care and services within a healthcare system or payer network, driving better patient engagement, acquisition, and retention.
Patient Engagement Technology Market Report Scope
Geography-Based Insights
By geography, the patient engagement technology market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Company-Based Insights
Allscripts Healthcare, LLC; athenahealth, Inc. (Veritas Capital); Carilex Medi GetWellNetwork, Inc.; AdvancedMD, Inc.; Cerner Corporation; Epic Systems Corporation; Orion Health group of companies; McKESSON CORPORATION; Lincor, Inc.; and Medecision are among the leading companies operating in the patient engagement technology market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
The factors that are driving the growth of market are rising adoption of patient-centric engagement solutions, rising numbers of startups, and favorable government initiatives. However, the shortage of skilled IT technicians and risks associated with cyber threats are the major factor hindering the patient engagement technology market growth.
Patient engagement technology allows the involvement of patients and their friends, family members in self-care. They are widely used in application such as social management, financial health management, home healthcare management, health management and others.
The patient engagement technology market majorly consists of the players, such as Allscripts Healthcare, LLC; athenahealth, Inc.; GetWellNetwork, Inc.; AdvancedMD, Inc.; Cerner Corporation; Epic Systems Corporation; Orion Health; McKesson Corporation; Lincor, Inc.; Medecision among others.
The market is estimated to grow at a CAGR of 18.5% during the forecast period.
The patient engagement technology market is estimated to be valued at US$ 21,354.38 million in 2022.
The patient engagement technology market is expected to be valued at US$ 59,003.21 million in 2028.
Asia Pacific is expected to be the fastest growing region in patient engagement technology market over the forecast period due to developing healthcare infrastructure and significant prevalence of chronic infectious diseases in countries’.
North America accounts for the major market share of patient engagement technology market in 2022 due to presence of developed healthcare IT infrastructure which led to the high adoption of patient engagement technology.
The patient engagement technology market is analyzed in the basis of component, therapeutic area, delivery mode, application, and end user. Based on component, the market is segmented into services, hardware, and software. The software segment held the largest share of the market. Moreover, the same segment is anticipated to register the highest CAGR in the forecast period.
The List of Companies - Patient Engagement Technology Market
- Allscripts Healthcare, LLC
- athenahealth, Inc.
- GetWellNetwork, Inc.
- AdvancedMD, Inc.
- Cerner Corporation
- Epic Systems Corporation
- Orion Health group of companies.
- McKesson Corporation
- Lincor, Inc.
- Medecision
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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