FREMONT, California, Oct. 24, 2019 /PRNewswire/ -- According to the new market intelligence report by BIS Research, "Global Patient Engagement Solutions - Analysis and Forecast, 2019-2028", the global patient engagement solution market generated a revenue of $11.84 billion in 2018 and is estimated to grow over $51.65 billion by the end of 2028. The market is projected to grow at a CAGR of 14.09%, during the forecast period from 2019 to 2028. There are multiple factors that drive this market such as increase in the geriatric population, growing prevalence of chronic diseases, growing adoption of mobile phone-based healthcare services, and rising cloud-based networking models.
The report provides varied segmentation of the market on the basis of component, mode of delivery, application, and region. In the case of component type, different software such as Epion Check-in software, Wellframe mobile app, and MedEngage are used. In the case of mode of delivery, web-based, cloud-based, and on-premise modes are used.
Moreover, the market is also categorized on the basis of application into health management (care and social management) and financial management. Several companies and start-ups are based out of the developed regions such as the North America and Europe.
According to Abdul Wahid, Principal Analyst at BIS Research,"North America is the leading contributor to the global patient engagement solution market. In 2018, in terms of revenue, the North America patient engagement solution market was valued $6.85 billion which is anticipated to grow at a significant CAGR during the forecast period. This double-digit growth can be attributed to the increasing number of government initiatives and regulations promoting 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."
North America dominated the patient engagement solution market and accounted for 57.86% of the market share in 2018.
Factors contributing to the growth of North America region are an increasing number of ACOs (accountable care organizations), increasing focus, and a number of government initiatives to promote the use of better healthcare IT technology and solutions.
At present, Asia-Pacific is the second largest contributor to the patient engagement solution market, due to the increasing prevalence of chronic conditions such as diabetes and hypertension and increasing demand for patient-centric care.
This market intelligence report provides a multi-dimensional view of the global patient engagement solution market in terms of market size and growth potential. This research report aims at answering various aspects of the global market with the help of the key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to be acquainted with the recent market activities such as product launches, partnerships, collaborations, business expansions, and mergers and acquisitions.
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 companies that comprise 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, and Valera), and services (such as Get Real Health, Emmi Solutions, and Athenahealth).
Key Questions Answered in the Report:
What are the major market drivers, challenges, and opportunities in the global patient engagement solution market?
What is the global patient engagement solution market size in terms of revenue from 2019-2028?
What are the key development strategies implemented by the major players to sustain in the competitive market?
How is each segment of the global patient engagement solution market expected to grow during the forecast period from 2019 to 2028:
on the basis of component, including software/solution and services
on the basis of mode of delivery, including web-based, cloud-based, and on-premise
on the basis of application, including health management and financial management
on the basis of region, including North America, Europe, Asia-Pacific, and Rest-of-the-World (ROW)
What is the market share of major companies in the global patient engagement solution market?
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.