U.S. Patient Engagement Solutions Market Analysis Report By Service, Functionality, Component, Application, Therapeutic Area, Companies, And Growth Forecast
The U.S. patient engagement solutions market size is anticipated to reach USD 18.12 billion by 2030, registering a CAGR of 15.28%, according to a new report by Grand View Research, Inc. The key factors driving the market growth include rising digitalization in healthcare, the prevalence of chronic conditions, adoption by patients, and the COVID-19 pandemic. The COVID-19 pandemic acted as a catalyst for rapid business and economic changes. Certain trends, which grew steadily in the past decades, including digital healthcare solutions, unexpectedly became omnipresent as lockdowns directed remote operations and large-scale reliance on technology.
U.S. Patient Engagement Solutions Market Report Highlights
The U.S. Patient Engagement Solutions market was valued at USD 5.87 billion in 2022 and is expected to grow at a CAGR of 15.28% during the forecast period
The surge in adoption of telemedicine, increasing healthcare consumerism, and rising integration across healthcare IT platforms is anticipated to propel the market growth over the forecast period
The wed & cloud-based solutions segment held the largest share of delivery type segment in 2022 due to ease of accessibility & scalability, growing adoption of cloud technology, and technological advancements in the segment
By component, software & hardware segment dominated the market in 2022 as it forms the core of patient engagement offerings
Providers accounted for the highest market share by end-user while the application segment was dominated by outpatient health management in 2022
In terms of therapeutic area, chronic disease management attributed to the largest share owing to an aging population and rising prevalence of lifestyle disorders
According to CDC, 6 in 10 Americans live with at least one chronic disease
Diabetes and heart disease are one of the key chronic diseases. In fact, as per CDC’s 2020 report on National Diabetes Statistics 34.2 million Americans had diabetes in the country Gain deeper insights on the market and receive your free copy with TOC now @: U.S.
Patient Engagement Solutions Market Report
Patient engagement solutions refer to a range of technologies, strategies, and tools that are designed to actively involve patients in their own healthcare journey and decision-making processes. These solutions aim to empower patients, improve communication between patients and healthcare providers, and enhance the overall patient experience. Patient engagement solutions often utilize digital platforms, such as mobile applications, patient portals, and telehealth services, to enable patients to access their health information, participate in shared decision-making, manage their conditions, and engage in remote monitoring. By promoting active patient involvement, these solutions can lead to better health outcomes, increased patient satisfaction, and more efficient healthcare delivery.
Telehealth solutions and remote patient monitoring have gained significant traction, especially during the COVID-19 pandemic. These technologies enable patients to access healthcare services remotely, facilitating virtual consultations, remote monitoring of vital signs, and the management of chronic conditions from the comfort of their homes. Healthcare providers are increasingly recognizing the importance of tailoring patient engagement strategies to individual needs. By leveraging patient data and analytics, organizations can develop personalized care plans, targeted health education materials, and customized communication channels to enhance patient engagement and outcomes. The proliferation of wearable devices, such as fitness trackers and smartwatches, along with mobile applications, has allowed patients to actively participate in their own health management. These technologies enable real-time health monitoring, medication reminders, and access to health information, empowering patients to take proactive steps towards better health.
Seamless integration between patient engagement solutions and electronic health records has become crucial. It allows patients to access their medical records, test results, and appointment scheduling through patient portals, fostering better communication between patients and healthcare providers while ensuring accurate and up-to-date information sharing. To drive sustained patient engagement, gamification techniques and behavioral incentives have been employed. These approaches use game-like elements, rewards, and challenges to motivate patients to adopt healthy behaviors, adhere to treatment plans, and actively participate in self-care activities. AI-powered chatbots and virtual assistants are being increasingly utilized to provide personalized patient support, answer common healthcare questions, and offer guidance on self-care. These intelligent systems can triage patient inquiries, provide relevant health information, and route patients to appropriate resources or healthcare professionals. Recognizing the significance of health literacy in patient engagement, healthcare organizations are focusing on improving patient education materials, ensuring they are clear, concise, and accessible to diverse populations. Simplified explanations, multimedia content, and multilingual resources are being incorporated to enhance health literacy and empower patients to make informed decisions.
In addition, the COVID-19 pandemic has shown the importance for clinicians to have rapid and full access to a patient's history to make the best-informed decision about their care. This propelled the growth of the market. For instance, in February 2020, Solutionreach, Inc. launched SR Health, an AI-based patient engagement platform for hospitals, health systems, and enterprise healthcare organizations. This was followed by the addition of vaccine distribution messaging as part of its SR Health COVID-19 Communications solution, in January 2021. A large population over the age of 60 is a keydriver for the U.S. patient engagement solutions market. This is owingto lower immunity levels in the geriatric population and higher vulnerability to chronic conditions such as obesity, cardiac problems, and cancer.
In fact, as per the U.S. Census Bureau, the median age of the country’s population is estimated to reach age 43 by 2060 with just two-and-a-half working-age adults for every retirement-age individual. This indicates an aging U.S. population that is more likely to avail the best possible treatments to increase life span. The incidence of chronic illnesses in the U.S. is also on the rise despite the availability of several effective therapies. The incidence of chronic illnesses in the U.S. is also on the rise despite the availability of several effective therapies.
Chronic ailments are the leading cause of disability & death and are the leading drivers of the country’s USD 3.8 trillion 12-monthly healthcare costs, according to the CDC. The COVID-19 outbreak has expedited the necessity for digital solutions, highlighting the need for remote care, which is not only preferred but also essential. Increasing adoption of mobile platforms coupled with
the dissemination of uninterrupted 3G, 4G networks, and emerging 5G technology, are rapidly boosting the use of mobile health.
Furthermore, there has been an incredible upsurge in the use of mobile phones and the internet by physicians in the U.S. leading to the progress of mobile health solutions. The usage of mobile applications has proven to be very effective in spreading awareness about chronic diseases, managing personal health, communicating with healthcare providers, and maintaining health records. This is expected to fuel the market growth.
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Competitive Analysis By Major Players
The market is competitive in nature and consists of large and small businesses. Key players are involved in implementing initiatives such as product development, geographic penetration, mergers, acquisitions, and collaborations to expand their market footprint Some of the key players in the U.S. patient engagement solutions market include:
Cerner Corporation (Oracle)
NextGen Healthcare, Inc.
Epic Systems Corporation
Allscripts Healthcare, LLC
McKesson Corporation
ResMed
Koninklijke Philips N.V.
Segmented the U.S. Patient Engagement Solutions market on the basis of delivery type, component, type, service type, functionality, therapeutic area, application, and end user.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive
database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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