Global Patient Engagement Solutions Market to Grow at a CAGR of 14.09% from 2019-2028 - Growing Medical Tourism & Adoption of Cloud-based Networking Models Present Lucrative Opportunities

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Nov 22, 2019, 11:30 ET

DUBLIN, Nov. 22, 2019 /PRNewswire/ -- The "Global Patient Engagement Solutions Market: Focus on Components, Mode of Delivery, Applications, 16 Countries Data, Industry Insights and Competitive Landscape - Analysis and Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.

Key Questions Answered in the Report

What are the major market drivers, challenges, and opportunities in the global patient engagement solutions market?
What is the global patient engagement solutions market size in terms of revenue from 2018-2028?
How is each segment of the global patient engagement solutions market expected to grow during the forecast period and what is the revenue expected to be generated by each of the segments by the end of 2028?
What are the key development strategies implemented by the key major players to sustain the competitive market?
What is the growth potential of the patient engagement solutions market in each region, namely, North America, Europe, Asia-Pacific, and the Rest-of-the-World?
What components (software and services) are offered by key players such as IBM Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Inc., Cisco, and Cerner Corporation?
What is the market share of major companies in the global patient engagement solutions market?
Which category of components is currently dominating the market and which one is expected to dominate in the future?
Which segment is currently dominating the global patient engagement solutions market and why?

This report projects the market to grow at a significant CAGR of 14.09% during the forecast period from 2019 to 2028.

The market has evolved dramatically with the growing adoption of mobile phones, healthcare services, an increasing number of geriatric populations, a growing prevalence of chronic diseases, and rising cloud-networking models.

Despite the benefits of this market, the major challenges in the market are the absence of health literacy, and lack of security of patient data and health information safety concerns. Some of the major opportunities for the key vendors in the market could be the adoption of cloud-based networking models, and growing investments in healthcare IT.

Expert Quote

North America is the leading contributor to the global patient engagement solutions market. In 2018, in terms of revenue, the North America patient engagement solutions market was valued $6.85 billion which is anticipated to grow at a CAGR of 11.64% during the forecast period.

This double-digit growth can be attributed to the increasing number of government initiatives and regulations promoting the delivery of better healthcare services and rising Electronic Health Record (EHR) and Electronic Medical Record (EMR) companies in North America. However, Asia-Pacific is the fastest-growing region during the forecast period, because of the rising prevalence of chronic diseases such as diabetes, and hypertension and increasing usage of mobile health solutions.

Scope of the Market

The purpose of this study is to gain a holistic view of the global patient engagement solutions market in terms of various influencing factors such as regional adoption trends, and technological advancements.

The scope of this report constitutes an in-depth study of the global patient engagement solutions market, including a thorough analysis of the software and services in the market as well as their adoption spanning different geographical regions. The market has been chiefly segmented into components, modes of delivery, application, and region.

The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering the market.

Market Segmentation

The global patient engagement solutions market can be segmented on the basis of component, mode of delivery, application, and region.

As of 2018, the global patient engagement solutions market was estimated to be approximately $11.84 billion. North America dominated the patient engagement solutions market and accounted for 57.86% in 2018.

Asia-Pacific held the second largest contributor for the patient engagement solutions market, due to the increasing prevalence of chronic conditions such as diabetes and hypertension and increasing demand for patient-centric care.

The global patient engagement solutions market is segmented based on components (software and services), mode of delivery (web-based, cloud-based and on-premise), applications (health management- care and social management and Financial management).

By Component, the service segment held 37.41% of the total market share in 2018 and is expected to grow in the forecasting years. The software segment is expected to increase because of the increasing demand for the coming years.

By Mode of delivery, the cloud-based mode of delivery held the largest market share with 39.13% in 2018. Cloud-based delivery is increasing day-by-day because of the storage of large data from any location of patients and healthcare IT using cloud-based delivery for giving healthcare services to the patients.

By Applications, health management dominated the market in 2018 and held the largest market share with 61.59% due to increasing awareness of complex diseases among patients and the need to maintain their health.

Key Companies

This report is a meticulous compilation of research on 76 players in the market ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles 18 key players from the patient engagement solutions market.

Some of the market players include primary and secondary data analysis tools providers such as IBM Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, and Cisco. Also, there are a plethora of companies providing software and solutions (such as IBM Corporation, Valera, and among others), as well as services (such as Get Real Health, Emmi Solutions, and Athenahealth).

Key Topics Covered

Executive Summary

1 Market Overview
1.1 Introduction
1.2 Technological Trends in Patient Engagement

2 Market Dynamics
2.1 Introduction
2.2 Impact Analysis
2.3 Market Drivers
2.3.1 Rising in Geriatric Population
2.3.2 Incentives Programs
2.3.3 Increasing Connected Devices
2.3.4 Government Regulations
2.4 Market Restraints
2.4.1 Absence of Health Literacy
2.4.2 Lack of Skilled Healthcare Professionals
2.4.3 Lack of Qualified Healthcare IT Workers
2.4.4 Lack of Security of Patient Data and Health Information Safety Concerns
2.5 Market Opportunities
2.5.1 Growing Medical Tourism
2.5.2 Adoption of Cloud-Based Networking Models
2.5.3 Growing Investments in Healthcare IT

3 Competitive Landscape
3.1 Key Strategies and Developments
3.1.1 Collaborations, Partnerships, and Agreements
3.1.2 Product Launches
3.1.3 Mergers and Acquisitions
3.1.4 Business Expansion
3.2 Market Share Analysis
3.2.1 Market Share Analysis (by Company)

4 Industry Insights
4.1 Patent Analysis
4.2 Regulatory Requirements
4.3 Bills, Acts, and Alliances for Patient Engagement Solution

5 Global Patient Engagement Solution Market (by Component)
5.1 Software/Solution
5.2 Services

6 Global Patient Engagement Solution Market (by Mode of Delivery)
6.1 Web-Based
6.2 Cloud-Based
6.3 On-Premise

7 Global Patient Engagement Solution Market (by Application)
7.1 Health management
7.1.1 Care Mangement
7.1.2 Social Management
7.2 Financial management

8 Global Patient Engagement Solution Market (by Region)
8.1 North America
8.2 Europe
8.3 Asia-Pacific (APAC)
8.4 Rest-of-the-World

9 Company Profiles
9.1 Overview
9.2 Cisco Systems, Inc.
9.2.1 Company Overview
9.2.2 Role of Cisco Systems in the Patient Engagement Solution Market
9.2.3 Financials
9.2.4 Key Insights about Financial Health of the Company
9.2.5 SWOT Analysis
9.3 IBM Corporation
9.4 Cerner Corporation
9.5 Allscripts Healthcare Solutions, Inc.
9.6 McKesson Corporation, Inc.
9.7 Orion Health
9.8 Medtronic plc
9.9 Fitbit, Inc.
9.10 Validic, Inc.
9.11 RevSpring, Inc.
9.12 Epion Health
9.13 Welltok, Inc.
9.14 Sapphire Digital
9.15 Catalia Health
9.16 leso Digital Health, Ltd.
9.17 Welldoc, Inc.
9.18 eClinicalWorks LLC
9.19 Lumeon

For more information about this report visit https://www.researchandmarkets.com/r/gsqlz3

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