Publication Month: May 2022 | Report Code: TIPRE00029385 | No. of Pages: 227 | Category: Healthcare IT | Status: Published
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.
|Market Size Value in||US$ 21,354.38 Million in 2022|
|Market Size Value by||US$ 59,003.21 Million by 2028|
|Growth rate||CAGR of 18.5% from 2022 to 2028|
|No. of Pages||227|
|No. of Tables||139|
|No. of Charts & Figures||85|
|Historical data available||Yes|
|Segments covered||Component, Therapeutic Area, Delivery Mode, Application, and End User|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
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.
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.
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.
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.
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.
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.
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.
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).
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.