Market Size of Global Patient Engagement Solution Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 24.00 Billion |
Market Size (2029) | USD 46.96 Billion |
CAGR (2024 - 2029) | 14.38 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Patient Engagement Solution Market Analysis
The Global Patient Engagement Solution Market size is estimated at USD 24 billion in 2024, and is expected to reach USD 46.96 billion by 2029, growing at a CAGR of 14.38% during the forecast period (2024-2029).
During COVID, digital solutions in healthcare have played a major role as the countries went into lockdown with strict measures that led to a decline in many other healthcare services but telehealthcare emerged as one of the foremost tools during this pandemic which facilitates many healthcare services during the lockdown and is still growing. Also, many countries are incorporating digital health services into conventional healthcare systems owing to COVID-19 which is expected to have an impact on the studied market. For instance, according to the article "The European Digital Health Revolution in the wake of COVID-19," published in April 2021, the European Commission proposed the EU4Health program as part of a COVID-19 recovery response program. The initiative aims to raise EUR 5.1 billion for the digital transformation of the European health sector and ensure preparedness for future cross-border health threats. Thus, increasing investments by European governments toward the digital transformation of healthcare will drive market growth over the study period. According to the report "Digital Health and the Global Pandemic" published in 2020, in France, during the pre-coronavirus times, the national insurance fund recorded and reimbursed about 40,000 teleconsultations per month, which increased to more than 10 times in one week during the pandemic. Thus, the high surge in reimbursements for teleconsultations indicates the surge in teleconsultations during the pandemic, thus positively impacting the market in the region. Hence, supporting government initiatives, increasing product launches, and raising awareness about the use of digital solutions in healthcare during COVID has majorly impacted the market.
The rising trend of using mobile applications has boosted the growth of this market. Moreover, the increased prevalence of chronic diseases and efforts by the government to create awareness about the engagement solutions have further helped this market to grow in the forest period. Due to these factors, the market has been attracting investors, which is further helping this market to grow. Initiatives by the government are one of the key factors for the growth of the market. For instance, in March 2020, France's new healthcare act 2019, which is based on the government's plan 'My Health 2022' includes electronic health records (EHR) to be rolled out nationwide and will become essential to several e-Health platforms, artificial intelligence (AI) is a priority domain and telemedicine which will include the full coverage by the public health system. For instance, Dossier Medical Partagé (DMP) will become an integral part of the 'Espace Numerique de Santé,' a digital health platform for patients planned for 2022. The DMP will be further developed with patient summaries and vaccination information. Due to this integration, the ease of access to the information will prevent delays during the consultation as all the data will be available.
Patient engagement solutions are a novel field in healthcare. Thus, there is a lack of awareness of solutions among the people and IT professionals in this industry, which is a major restraint of the market. Moreover, security concerns are also hampering the growth of the market. These factors are hence restraining this market's growth.
Patient Engagement Solution Industry Segmentation
Patient engagement is a broad term that encompasses patient activation along with interventions designed for promoting positive patient behavior. Patient engagement has a two-fold benefit for the healthcare industry. It results in a proactive patient who is more compliant with the ongoing treatment and preventive measures being undertaken. The Patient Engagement Solution Market is segmented by Component (Hardware, Software, and Service), Delivery Mode (Web-based and Cloud-based, and On-Premise), Application (Social Management, Fitness and Health Management, Home Healthcare Management, and Financial Management), End User (Provider Payer, Patient, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above-mentioned segments.
By Component | |
Hardware | |
Software | |
Service |
By Delivery Mode | |
Web-based and Cloud-based | |
On-Premise |
By Application | |
Social Management | |
Fitness and Health Management | |
Home Healthcare Management | |
Financial Management |
By End User | |
Provider | |
Payer | |
Patient | |
Other End Users |
Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Global Patient Engagement Solution Market Size Summary
The patient engagement solution market is experiencing significant growth, driven by the increasing integration of digital health services into traditional healthcare systems, a trend accelerated by the COVID-19 pandemic. The pandemic highlighted the importance of telehealthcare, leading to a surge in its adoption and reimbursement, which has positively impacted the market. Governments, particularly in Europe, are investing heavily in digital health transformations, such as the EU4Health program, to enhance healthcare systems and prepare for future health threats. These initiatives, along with the rising use of mobile applications and the prevalence of chronic diseases, are attracting investors and fostering market expansion. However, the market faces challenges, including a lack of awareness and security concerns, which are hindering its growth.
In North America, the market is rapidly expanding due to supportive initiatives from both public and private sectors. Collaborations between key market players, such as IBM and Wipro, are facilitating the adoption of hybrid cloud solutions, while companies like Humana are leveraging AI to improve patient engagement. The region's dominance is attributed to its high adaptability to innovative technologies and increased health awareness. The market is also witnessing the emergence of new players, particularly from developing countries, who are leveraging modern connectivity to penetrate these markets. Established companies and startups alike are competing to capture market share, with significant players including Allscripts Healthcare Solutions, Cerner Corporation, and IBM.
Global Patient Engagement Solution Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Rising Trend of Mobile Health Applications
-
1.2.2 Growing Popularity of Patient Engagement Solutions Among the Aging Population
-
1.2.3 Rising Investments and Technological advancements
-
-
1.3 Market Restraints
-
1.3.1 Protection of Patient Information
-
1.3.2 Lack of Skilled IT Professionals in the Healthcare Industry
-
-
1.4 Porter's Five Force Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD million)
-
2.1 By Component
-
2.1.1 Hardware
-
2.1.2 Software
-
2.1.3 Service
-
-
2.2 By Delivery Mode
-
2.2.1 Web-based and Cloud-based
-
2.2.2 On-Premise
-
-
2.3 By Application
-
2.3.1 Social Management
-
2.3.2 Fitness and Health Management
-
2.3.3 Home Healthcare Management
-
2.3.4 Financial Management
-
-
2.4 By End User
-
2.4.1 Provider
-
2.4.2 Payer
-
2.4.3 Patient
-
2.4.4 Other End Users
-
-
2.5 Geography
-
2.5.1 North America
-
2.5.1.1 United States
-
2.5.1.2 Canada
-
2.5.1.3 Mexico
-
-
2.5.2 Europe
-
2.5.2.1 Germany
-
2.5.2.2 United Kingdom
-
2.5.2.3 France
-
2.5.2.4 Italy
-
2.5.2.5 Spain
-
2.5.2.6 Rest of Europe
-
-
2.5.3 Asia-Pacific
-
2.5.3.1 China
-
2.5.3.2 Japan
-
2.5.3.3 India
-
2.5.3.4 Australia
-
2.5.3.5 South Korea
-
2.5.3.6 Rest of Asia-Pacific
-
-
2.5.4 Middle-East and Africa
-
2.5.4.1 GCC
-
2.5.4.2 South Africa
-
2.5.4.3 Rest of Middle-East and Africa
-
-
2.5.5 South America
-
2.5.5.1 Brazil
-
2.5.5.2 Argentina
-
2.5.5.3 Rest of South America
-
-
-
Global Patient Engagement Solution Market Size FAQs
How big is the Global Patient Engagement Solution Market?
The Global Patient Engagement Solution Market size is expected to reach USD 24.00 billion in 2024 and grow at a CAGR of 14.38% to reach USD 46.96 billion by 2029.
What is the current Global Patient Engagement Solution Market size?
In 2024, the Global Patient Engagement Solution Market size is expected to reach USD 24.00 billion.