Patient Engagement Technology Market
Patient Engagement Technology Market Forecasts to 2030 - Global Analysis By Delivery Type (Web Based, Cloud Based, On Premise and Other Delivery Types), Component (Software, Service, Hardware and Other Components), Therapeutic Area, Application, End User and by Geography
According to Stratistics MRC, the Global Patient Engagement Technology Market is accounted for $19.38 billion in 2023 and is expected to reach $42.83 billion by 2030 growing at a CAGR of 12.0% during the forecast period. The term patient engagement technology describes a group of electronic tools intended to help people take charge of their own healthcare. These tools simplify administrative procedures, enable patients to actively participate in their own health, and improve communication between patients and healthcare professionals. Moreover, patient engagement technology enables collaboration, improves convenience, and eventually results in better health outcomes.
According to the American Medical Association (AMA), patient engagement technology plays a pivotal role in transforming healthcare delivery by empowering patients to actively participate in their care decisions and promoting better health outcomes.
Market Dynamics:
Driver:
Growing need for customized medical solutions
Modern patients demand healthcare that is more individualized and tailored to their unique requirements and preferences. Patient engagement technologies enable patients to actively participate in their care journey by providing a range of personalized solutions like wearables, telehealth platforms, and health monitoring apps. These technologies use machine learning algorithms and data analytics to provide personalized health recommendations, reminders for preventive care, and lifestyle interventions. Additionally, these solutions improve health outcomes by meeting individual patient needs and improving patient satisfaction and treatment plan adherence.
Restraint:
Workflow disruptions and provider resistance
Healthcare providers may encounter difficulties incorporating patient engagement technologies into their clinical workflows because of resistance to change, concerns about increased paperwork, and workflow disruptions. In order to guarantee smooth integration and user acceptance, integrating new technologies into current practice routines takes time, training, and support. Furthermore, some medical professionals might be skeptical of or reluctant to accept these innovations because they believe that patient engagement technologies pose a threat to their independence, knowledge, or job satisfaction.
Opportunity:
Improvements in patient-provider communication
Technologies for patient engagement present chances to improve the smoothness and efficiency of communication between patients and healthcare professionals. Engagement and satisfaction are increased when patients can ask questions, request prescription refills, and communicate with their providers through interactive patient portals, secure messaging platforms, and telemedicine solutions. Additionally, these technologies facilitate care coordination, continuity of care, and shared decision-making, which enhances patient-provider interactions and improves health outcomes.
Threat:
Equitable access to digital resources and health
Exacerbating current health disparities and expanding the digital divide are two of the main risks posed by patient engagement technologies. Patient engagement tools may be difficult for vulnerable populations to adopt and use, such as low-income people, elderly patients, residents of rural areas, and people with limited access to technology or the internet. Moreover, due to the potential exclusion of marginalized groups from the benefits of these technologies, there may be even greater disparities in healthcare outcomes and access as a result of this discrepancy in digital health literacy and access to technology.
Covid-19 Impact:
Patient engagement technology has seen significant growth and adoption due to the COVID-19 pandemic, which has caused healthcare systems all over the world to quickly shift to digital solutions in an effort to slow the virus's spread and preserve continuity of care. The pandemic has accelerated the adoption of virtual care programs, telehealth platforms, and remote monitoring tools. It has also raised demand for patient engagement technologies, which facilitate communication between patients and providers as well as remote consultations and health monitoring. Additionally, the pandemic has highlighted the value of patient involvement in self-care, prevention, and the management of chronic conditions.
The Cloud Based segment is expected to be the largest during the forecast period
The category with the largest market share is the cloud-based segment. Healthcare companies can deploy and manage these technologies remotely without requiring a large amount of on-site infrastructure, thanks to the scalability, flexibility, and accessibility of cloud-based patient engagement solutions. Moreover, cloud-based solutions facilitate easy access to patient data, real-time updates, and collaboration between healthcare providers and patients across various devices and locations by utilizing cloud computing resources and software applications.
The Mental Health segment is expected to have the highest CAGR during the forecast period
The patient engagement technology market's highest CAGR is seen in the mental health segment. Demand for patient engagement technologies specifically designed for mental health management and support has increased as a result of growing awareness and destigmatization initiatives, as well as the growing recognition of mental health as a crucial aspect of overall well-being. These technologies cover a broad range of solutions, such as digital cognitive behavioural therapy (CBT) programs, teletherapy platforms, mental wellness apps, and mood tracking tools. Furthermore, their goals are to improve access to mental health services, enable early intervention, and give people the tools they need to manage their mental health more successfully.
Region with largest share:
Due to its sophisticated healthcare infrastructure, high rate of adoption of digital health solutions, strong regulatory environment, and rising investments in healthcare IT, North America is the region with the largest market share for patient engagement technology. Patient engagement technologies are in high demand across a range of healthcare settings due to the region's developed healthcare ecosystem, strong emphasis on patient-centered care, and value-based reimbursement models. Additionally, the promotion of interoperability, the expansion of telehealth, and patient engagement through strategic initiatives by government agencies, healthcare organizations, and technology vendors has further expedited the growth of the market in North America.
Region with highest CAGR:
In the patient engagement technology market, Asia-Pacific has the highest CAGR. This is due to factors like rising healthcare costs, growing healthcare expenditures, the growing adoption of digital health solutions, and expanding access to healthcare services. Investments in patient engagement technologies aimed at enhancing healthcare access, affordability, and outcomes have been stimulated by the region's growing population, growing healthcare awareness, and growing demand for high-quality healthcare. Furthermore, partnerships with technology providers, regulatory reforms, and government initiatives to support digital health have accelerated the growth of the Asia-Pacific market.
Key players in the market
Some of the key players in Patient Engagement Technology market include Orion Health Ltd., Medecision Inc., Patientpoint, LLC, CipherHealth Inc, Oracle, Allscripts Healthcare, LLC, Phytel Inc., Lincor Solutions Ltd., Oneview Ltd., YourCareUniverse Inc., GetWellNetwork, Inc., SONIFI Health Incorporated. and Mckesson Corporation.
Key Developments:
In January 2024, Finland’s Orion Corp has entered into a licensing agreement with digital therapeutics (DTx) specialist Newel Health, handing over rights to an app designed to support patients with chronic pain. Newel gains exclusive worldwide rights to develop, manufacture, and commercialise the app, called Rohkea or ODD-403, which uses virtual reality to deliver a gamified treatment programme for chronic pain that specifically aims to address patients’ fear of movement and re-injury.
In November 2023, Oracle signed a Memorandum of Understanding (MOU) with the Ministry of Higher Education, Scientific Research and Innovation, and the Ministry of Digital Transition and Administrative Reform. The MoU brings together the classroom to career learning resources and curriculum of Oracle Academy to all higher education institutions in Morocco, alongside Oracle University providing complementary professional digital learning journeys and certifications accessible from a dedicated Learning Portal.
In January 2023, CipherHealth has announced a partnership with Google Cloud partner SADA to enable social determinant of health (SDOH) data integration in an effort to improve patient care. SADA, together with Google Cloud, has enabled us to provide our customers with new insights into their patient populations, giving them the power to make appropriate care delivery changes that directly impact patient care, Nate Perry-Thistle, chief technology officer at CipherHealth, said in a press release.
Delivery Types Covered:
• Web Based
• Cloud Based
• On Premise
• Other Delivery Types
Components Covered:
• Software
• Service
• Hardware
• Other Components
Therapeutic Areas Covered:
• Chronic Diseases
• Fitness
• Women Health
• Mental Health
• Other Therapeutic Areas
Applications Covered:
• Social Management
• Home Healthcare Management
• Financial Health Management
• Other Applications
End Users Covered:
• Payers
• Providers
• Patients
• Individual Users
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Patient Engagement Technology Market, By Delivery Type
5.1 Introduction
5.2 Web Based
5.3 Cloud Based
5.4 On Premise
5.5 Other Delivery Types
6 Global Patient Engagement Technology Market, By Component
6.1 Introduction
6.2 Software
6.3 Service
6.4 Hardware
6.5 Other Components
7 Global Patient Engagement Technology Market, By Therapeutic Area
7.1 Introduction
7.2 Chronic Diseases
7.3 Fitness
7.4 Women Health
7.5 Mental Health
7.6 Other Therapeutic Areas
8 Global Patient Engagement Technology Market, By Application
8.1 Introduction
8.2 Social Management
8.3 Home Healthcare Management
8.4 Financial Health Management
8.5 Other Applications
9 Global Patient Engagement Technology Market, By End User
9.1 Introduction
9.2 Payers
9.3 Providers
9.4 Patients
9.5 Individual Users
9.6 Other End Users
10 Global Patient Engagement Technology Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Orion Health Ltd.
12.2 Medecision Inc.
12.3 Patientpoint, LLC
12.4 CipherHealth Inc
12.5 Oracle
12.6 Allscripts Healthcare, LLC
12.7 Phytel Inc.
12.8 Lincor Solutions Ltd.
12.9 Oneview Ltd.
12.10 YourCareUniverse Inc.
12.11 GetWellNetwork, Inc.
12.12 SONIFI Health Incorporated.
12.13 Mckesson Corporation
List of Tables
1 Global Patient Engagement Technology Market Outlook, By Region (2021-2030) ($MN)
2 Global Patient Engagement Technology Market Outlook, By Delivery Type (2021-2030) ($MN)
3 Global Patient Engagement Technology Market Outlook, By Web Based (2021-2030) ($MN)
4 Global Patient Engagement Technology Market Outlook, By Cloud Based (2021-2030) ($MN)
5 Global Patient Engagement Technology Market Outlook, By On Premise (2021-2030) ($MN)
6 Global Patient Engagement Technology Market Outlook, By Other Delivery Types (2021-2030) ($MN)
7 Global Patient Engagement Technology Market Outlook, By Component (2021-2030) ($MN)
8 Global Patient Engagement Technology Market Outlook, By Software (2021-2030) ($MN)
9 Global Patient Engagement Technology Market Outlook, By Service (2021-2030) ($MN)
10 Global Patient Engagement Technology Market Outlook, By Hardware (2021-2030) ($MN)
11 Global Patient Engagement Technology Market Outlook, By Other Components (2021-2030) ($MN)
12 Global Patient Engagement Technology Market Outlook, By Therapeutic Area (2021-2030) ($MN)
13 Global Patient Engagement Technology Market Outlook, By Chronic Diseases (2021-2030) ($MN)
14 Global Patient Engagement Technology Market Outlook, By Fitness (2021-2030) ($MN)
15 Global Patient Engagement Technology Market Outlook, By Women Health (2021-2030) ($MN)
16 Global Patient Engagement Technology Market Outlook, By Mental Health (2021-2030) ($MN)
17 Global Patient Engagement Technology Market Outlook, By Other Therapeutic Areas (2021-2030) ($MN)
18 Global Patient Engagement Technology Market Outlook, By Application (2021-2030) ($MN)
19 Global Patient Engagement Technology Market Outlook, By Social Management (2021-2030) ($MN)
20 Global Patient Engagement Technology Market Outlook, By Home Healthcare Management (2021-2030) ($MN)
21 Global Patient Engagement Technology Market Outlook, By Financial Health Management (2021-2030) ($MN)
22 Global Patient Engagement Technology Market Outlook, By Other Applications (2021-2030) ($MN)
23 Global Patient Engagement Technology Market Outlook, By End User (2021-2030) ($MN)
24 Global Patient Engagement Technology Market Outlook, By Payers (2021-2030) ($MN)
25 Global Patient Engagement Technology Market Outlook, By Providers (2021-2030) ($MN)
26 Global Patient Engagement Technology Market Outlook, By Patients (2021-2030) ($MN)
27 Global Patient Engagement Technology Market Outlook, By Individual Users (2021-2030) ($MN)
28 Global Patient Engagement Technology Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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