October 01, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Patient Engagement Solutions Market Growth 2019-2024’, the worldwide patient engagement solutions market is predicted to amass US $19400 million by the year 2024.
Patient engagement has become entrenched in the healthcare dictionary. The healthcare industry is striving to attain the IHI’s triple aim which focuses on improving patient experience, reducing per capita cost of healthcare, and enhancing the health of population around the globe.
Main factors fueling patient engagement solutions (PES) market growth are rising geriatric population, demand for improved quality of care, favorable legislative reforms of ACA (Affordable Care Act) in the U.S., and incentives offered by several governments for adoption of patient engagement solutions & HCIT.
According to the report, the market has developed rapidly in recent years with an average growth rate of 18.1% in 2016. Furthermore, patient engagement solutions market was worth US $7200 million in 2019 and is projected to grow with 18% CAGR during the forecast timeframe.
Speaking of the product type, the PES market is fragmented as web-based, cloud-based, and on-premise, wherein cloud-based segment dominated the market with 75% share in 2016 and is presumed to grow significantly over the analysis timeline, owing to its affordability, scalability and high flexibility.
While considering the application spectrum, the market is segmented as health management, social and behavioral management, home health management, and financial health management. Health management segment recorded the largest market share of 47.5% in 2016, cites the report.
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Based on the regional outlook, the PES market is divided into four major regions; Europe, Asia Pacific, Americas, and Middle East & Africa. Furthermore, North America dominated the industry with 48.4% revenue share in 2016, whereas Europe was accounted for 30.1% revenue share in the same year.
The prominent manufacturers operating in patient engagement solutions market include Orion Health, IBM, Lincor Solutions, Epic Systems, Cerner Corporation, GetWell Network, McKesson Corporation, Allscripts, Medecision, Healthagen, and Athenahealth.