Patient engagement refers to the involvement of health professionals in the health and well-being of patients. A patient engagement platform allows patients to interact with their healthcare professionals using their mobile device, tablet, or computer. Patient retention solutions have recently become popular due to the increasing number of chronic diseases.
The global market size of Patient engagement solutions Market in 2021 was $13.42; by 2030. It will grow to reach $74.28 billion with a CAGR of 20.93% during the forecast period 2021-2030.
The increasing burden of chronic disease and a fast-growing elderly population drive the adoption of patient engagement solutions worldwide. With the increasing number of diseases in people, such as diabetes, companies are focusing on developing patient-centric solutions. Also, patient engagement solutions have enabled governments and healthcare providers to track patient data. Thus helping them understand their patient’s medical history and prescribe appropriate treatment. To ensure better health and improve the patient experience, patient engagement services are redefining healthcare solutions in the healthcare industry.
COVID-19 impact analysis
Remote patient monitoring collects patient data like heart rate and body temperature, is the most common application of patient engagement.
Lockdowns have raised the demand for Intelligent Virtual Assistants, digital and cloud-based patient engagement solutions. This is increasing demand for software and services aimed at patient interaction.
Improved health outcomes and increased health outcomes are creating new growth opportunities.
Patients and doctors are linked via the Internet, increasing both parties’ interest in improving diagnostic performance. Patients can now interact with doctors more easily and efficiently thanks to patient engagement solutions.
Remote monitoring has significantly reduced the length of hospital stay. Patient engagement services are reshaping healthcare by ensuring better health outcomes and higher patient satisfaction.
As more patients are aware of their medical issues and available treatments, communication between patients and doctors has increased. As a result, the need for patient engagement solutions is growing, and the global market is driven by better health outcomes and improved patient outcomes.
The development of patient engagement solutions with better performance can result from integrating technologies such as patient engagement technology, IoT, artificial intelligence (AI), health information technology (HIT) solutions, and others.
Growing demand for tracking health data
Technologies enable patients to share information to provide personalized care for those with chronic health conditions and efficient health monitoring. The number of patients tracking their health data has increased, and many are willing to share data to monitor their health conditions.
Patients can prick their fingers at home for blood tests to check blood glucose levels, cholesterol, triglycerides, inflammation, and other factors. These tests are carried out by connecting to an application that monitors these parameters. Thus, tracking health data is helping to drive demand for patient engagement solutions.
The global market is associated with numerous local, regional, and global vendors. IBM, McKesson Corporation, Allscripts, Cerner Corporation, Epic Systems Corporation, Orion Health, Get Well Network, Athenahealth, Oneview Healthcare, Meditech, IQVIA, Get Real Health, Cognizant, Symphony Care, Harris Healthcare, Kareo, CureMD Healthcare, eClinical Works, Lincor Solutions, AdvancedMD, Well Stack, and other prominent players are active in the global market. The market leaders maintain their dominance by investing in research and development, incorporating cutting-edge technologies into their product lines, and launching improved products for customers.
- Orion Health developed the first detailed pandemic outbreak monitoring system in March 2020 to ease the stress on healthcare systems and limit the spread of the COVID-19 virus. Existing and upcoming company clients can use Orion Health free of charge.
- Allied Digestive Health (ADH) has chosen athenahealth(US) cloud-based healthcare payments and patient engagement solutions to drive patient relations and revenue cycle excellence in 2021, consequently supporting the organization’s growth in the coming year.
- On July 5th, 2022, Biogen partnered with Happify Health to offer assistance and support to Multiple Sclerosis patients through the company’s AI-powered online care community Kopa. Biogen, a major player in the Multiple Sclerosis space, will release educational content related to its therapies for the Kota website and App, with the primary goal of supporting people with MS throughout their entire care journey.
The implementation of evolving government laws and healthcare efforts to encourage patient-centric care, the rising demand for patient engagement solutions in the post-pandemic era, and the expanding use of m-health apps are the factors propelling the growth of this market. However, interoperability for patient engagement solutions and a lack of qualified IT workers in the healthcare sector is expected to restrict this market’s growth throughout the projected period.