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Patient Engagement Technology an Innovative Tool for Healthcare Industry, by Therapeutic Area, Application, End User, and Region - Global Forecast to 2027


Published : 05, 2020

Patient engagement technology is progressively more being accepted by healthcare payers, providers, and patients worldwide, mainly in the U.S. The market for patient engagement technology is mainly driven by the increasing use of electronic health records for patient-centric care and acceptance of mobile health devices. In 2019, as per the survey conducted by the National Health Service (NHS), roughly 92.0% of patients feel guaranteed in self-managing treatment.

The market is anticipated to grow vastly as the healthcare industry witnesses a move to a value-based reimbursement system from the conventional volume-based fee for reimbursement system. Acceptance of patient engagement solutions allows the healthcare industry to decrease prices while improving the superiority of healthcare. Patient engagement technology also offers positive profits on investment.

Furthermore, acceptance of this technology in emerging countries such as India is supported by positive government initiatives. For example, Columbia Asia Hospitals located across India, Malaysia, Vietnam, and Indonesia, introduced a patient engagement application suite in partnership with MphRx, in March 2019. This program is intended to digitally transform healthcare services and to improve patient engagement.

On the other hand, in spite of several advantages, certain restrainers such as fragmented end-user markets, huge funds requirements, and security of patient data are likely to hamper the market growth in the forecast period.

The global patient engagement technology an innovative tool for the healthcare industry is segmented based on therapeutic area, application, end-user, component type, delivery type, and Region.

Based on therapeutic type, global patient engagement technology an innovative tool for the healthcare industry is bifurcated into chronic diseases (Cardiovascular, Diabetes, Obesity, and Others), Mental Health, Fitness, Women's Health, and Others.

The patients suffering from chronic diseases require training and monitoring for disease management. Patient engagement technology helps users connect with their healthcare providers from remote areas, thereby allowing a streamlined flow of patient feedback, other health-associated data, and information. For example, in November 2019, the Centers for Disease Control and Prevention (CDC) funded 13 state arthritis management and prevention programs intended at improving the superiority of life and patient monitoring for rural arthritis patients.

Based on application, global patient engagement technology an innovative tool for the healthcare industry is segmented into Financial Health Management Social Management, Home Healthcare Management, and Health Management.

The management sector is anticipated to hold the largest share in the forecast period. The growth of this sector is attributed to fast reply and better patient fulfillment for care achieved through engagement solutions are the key factors propelling the segment growth. In May 2019, as per the National Coordinator for Health Information Technology, 51.0% of the patients in the hospitals in the U.S. were accessible online to their medical records.

Based on end-use type, the market is segmented into Payers, Providers, and Individual Users.

The Provider segment is anticipated to hold the major share in the market. Providers widely accept patient engagement technology on account of enhanced utilization of patient portals and routine care processes for making complex healthcare decisions and accessing information.

Based on component type, the market is divided into Software (Integrated, Standalone), Services (Implementation, Consulting, Education, and Others), and Hardware.

The software segment is anticipated to hold a major share of the market in the forecast period. Software is easy to use and easy to install, it also helps to get particular drug information and allows the efficient digital transfer of the prescription. Patient engagement technology software is used in wide-ranging sectors such as in-home healthcare management, and healthcare management. The few accepted software used as patient engagement technology are a cloud-based EHR; NextGen Office, Kareo, and athenahealth, a cloud-based EHR.

Based on the delivery type, the market is divided into On-premise, and Web-based/Cloud-based.

The web/cloud-based sector is anticipated to hold the major share in the forecast period. The acceptance of these patient engagement portals is rising considerably on account of remote admission to real-time data tracking, easy accessibility, integrated features, easy data backup, and minimal handling costs.

Companies are capitalizing on web/cloud-based patient engagement technology. For example, in August 2019, Google Cloud in a partnership with NTT DATA on Next-Gen Healthcare Solutions to progress patient healthcare experience. This partnership is intended at dropping the price of health plans and expenses for providers by creating more proficient operations by changing payment technology, models, and regulations.

Based on geographical outlook, the market is divided into North America (U.S.), Asia Pacific (China, and Japan), Europe (U.K. and Germany), Middle East & Africa (Saudi Arabia), and Central & South America (Brazil).

North America is anticipated to hold the major share in the market during the forecast period. The growth of the region is attributed to a surge in the acceptance of electronic health records (EHR) and mhealth and growing investment in patient engagement software technology by key companies. Furthermore, increasing consciousness level, coupled with government expenditure on the healthcare division, is anticipated to propel market growth.  

The major companies in the market are Orion Health Ltd., Allscripts Healthcare Solutions, McKesson Corporation, and Cerner Corporation.

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