The patient engagement solutions market was USD 17,212.8 million in 2022, and it will touch USD 37,267.1 million, advancing at a 10.1% CAGR, by 2030.
The growth of the industry is mainly because of the rising need for advanced drugs and the surging incidence of chronic illnesses. Furthermore, the advancing healthcare infrastructure, mounting elderly population, increasing utilization of mobile health solutions, and rising need for wearable health technology are also boosting the growth of the industry.
The software category, based on component, held the largest share of the industry, approximately 60%, in 2022. This is because of the rapid acceptance of this software by healthcare facilities to ease off complex health data and modify it as per the requirements.
The service category is advancing at a significant rate as services benefit in leveraging and enhancing engagement solutions of patients according to consumers’ necessities, to improve health outcomes. Furthermore, players in the industry provide support & maintenance, ancillary, and training & installation services, for instance, interoperability and electronic health records access.
The cloud-based category, based on delivery mode, will observe the fastest patient engagement solutions market growth, of over 12%, in the coming years. This is attributed to the fact that the cloud delivery mode is a more-secure as compared to others and performs the highest compliance level with the Health Insurance Portability and Accountability Act.
The home health management category, based on application, will observe the fastest growth in the years to come. This is because of the increasing consciousness among people regarding the complexity of the disease, along with their willingness to participate actively in their treatment optimization, tracking, or planning.
The chronic diseases category, based on therapeutic area, is the largest contributor to the industry. This is because of the rising requirement to control the incidence of chronic illnesses.
Furthermore, government organizations in both developing and developed nations are implementing various solutions to decrease the increasing burden of healthcare. Additionally, the surging elderly population is also boosting the requirement for such solutions all over the world.
Based on end user, the providers category accounted for the largest share in the industry. This is because of the mounting count of patients across the globe, as a result, various healthcare providers have started utilizing such solutions to prove better patient treatment.
North America accounted for the largest share, of over 40%, because of the existence of advanced hospital infrastructure, surging incidence of chronic illnesses, and rising count of HIT solution providers.
APAC will observe the fastest growth in the years to come. This is mainly because of the surging incidence of chronic illnesses, the mounting elderly population, and the rising consciousness of patient engagement solutions for these illnesses management.
With the mounting requirements for advanced drugs and the mounting incidence of chronic illnesses, the patient engagement solutions industry will continue to advance in the years to come.