Patient Engagement Technology Market is expected to reach US$ 59,003.21 Million by 2028

Software Segment to Hold Largest Share of Patient Engagement Technology Market During 2022–2028

According to our latest study on “Patient Engagement Technology Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Therapeutic Area, Delivery Mode, Application and End User,” the 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. The report highlights the major factors driving the market and prominent players with their developments.  

North America held a significant market share in the patient engagement technology market. The growth is attributed to the increasing demand for patient engagement technology systems in hospitals and clinics in the US and increasing healthcare funding dedicated toward the development of IT-based solutions for healthcare. Moreover, the presence of various market players and developed healthcare IT infrastructure in the region are driving the growth of the patient engagement technology market.

Rising Favorable Government Initiatives

The government in various countries is taking steps toward technological advancements in healthcare. For instance, the FDA launched the Patient and Caregiver Connection program in 2018. Throughout the review and surveillance of the treatment, the program aimed to create engagement with patients, patient advocates, and caregivers. Furthermore, favorable government actions encourage the use of these solutions in emerging countries such as India. In March 2019, Columbia Asia Hospitals, located in Malaysia, India, Indonesia, and Vietnam, collaborated with MphRx a provider of virtual healthcare, to introduce a patient engagement application suite. This program aimed to improve patient engagement, digitally transform healthcare services, and gain clinical excellence.

In February 2021, as a part of a program launched by the UK government to employ a fully connected cloud-driven health service, over 2 million National Health Services (NHS) mail mailboxes were moved to Exchange Online, which is a part of Microsoft’s Azure Cloud. This facilitated smoother and more efficient communication among NHS organizations and departments and increased information access. Such initiatives will improve patient engagement technology market growth by increasing the use of HCIT (Healthcare Information Technology) Change Management services in the UK.

In March 2020, France's new healthcare act 2019, which is based on the government's strategy 'My Health 2022,' includes electronic health records (EHR) to be rolled out countrywide. The launch of such government initiatives will increase the use of telemedicine and increased use of artificial intelligence along with surge in e-health platforms. This will become crucial to numerous e-Health platforms, provide artificial intelligence (AI) as a priority domain, and telemedicine, which will include full public health system coverage. For instance, the 'Espace Numerique de Santé,' a digital health portal for patients set to launch in 2022, will include Dossier Medical Partagé (DMP). Patient summaries and immunization information will be added to the DMP in the future. Because of this integration, there will be no delays during the consultation because all data will be accessible. Such initiatives will boost the overall adoption of web-based services, resulting in the growth of the patient engagement technology market.

Impact of COVID-19 Pandemic on Patient Engagement Technology Market:

The COVID-19 pandemic has significantly affected the global healthcare system and has disrupted the global economies. To combat the spread of SAR-CoV-2, governments have imposed stringent policies to prevent and reduce the mortality rate. To reduce the risk of virus transmission to either patients or health care workers within their practice, healthcare providers postponed elective and preventive visits, such as annual physicals, and converted in-person visits to telemedicine visits. This has increased the demand for virtual consultation and telemedicine; however, home quarantine has further created the need for remote patient monitoring, which has increased the use of patient engagement technology. Moreover, the increasing prevalence of chronic disorders, such as diabetes, obesity, and cardiovascular disorders, with a surge in COVID-19 cases has led to complications among patients. Furthermore, the rise in consumer awareness regarding health, increase in healthcare IT infrastructure globally, and high adoption rate of patient engagement technology in developing economies are also expected to support the market growth. Moreover, an increase in clinical trials regarding COVID-19 vaccines has boosted the demand for patient engagement technology, which helped fasten the process and led to the launch of vaccines. Thus, the COVID-19 pandemic has positively impacted the global patient engagement technology market growth.

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; and Lincor, Inc., and Medecision are among the leading companies operating in the patient engagement technology market.

Patient Engagement Technology Market, by Region, 2021 (%)

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Patient Engagement Technology Market Size Report 2028

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Patient Engagement Technology Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Services, Hardware, and Software), Therapeutic Area (Fitness, Chronic Diseases, Women’s Health, and others), Delivery Mode (Cloud-Based and On-Premises), Application (Health Management, Financial Health Management, Home Healthcare Management, and Others), and End User (Patients, Payers, Providers, and Others)

Based on component, the patient engagement technology market is segmented into software, services, and hardware. Based on therapeutic area, the market is categorized into fitness, chronic diseases, women’s health, and others.  Based on delivery mode, the market is bifurcated into cloud-based and on-premises. Based on application, the market is segmented into health management, financial health management, home health management, and others. Based on end user, the patient engagement technology market is segmented into patient, payers, providers, and others. Based on geography, the 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 SAM).