MarketsandMarkets Presents Patient engagement solutions market is projected to reach USD Billion by

The report "Patient Engagement Solutions Market by Component (Hardware, Software, Services), Delivery mode (On-Premise, Cloud), End User (Provider, Payer), Applications (Home Health, Financial Health), Therapeutic Area - Global Forecast to 2022“Patient Engagement Solutions Market The patient engagement solutions market is expected to reach USD Billion by 2022 from an estimated USD 8.80 Billion in 2017, at a CAGR of 16.2%. Browse 86 Market Data Tables and 29 Figures spread through 177 Pages and in-depth TOC on "Patient Engagement Solutions Market by Component (Hardware, Software, Services), Delivery mode (On-Premise, Cloud), End User (Provider, Payer), Applications (Home Health, Financial Health), Therapeutic Area - Global Forecast to

The global patient engagement solutions market is expected to reach USD Billion by 2022 from USD 8.80 Billion in 2017, at a CAGR of 16.2%. The growth of this market is majorly driven by factors such as a rise in the aging population, increasing burden of chronic diseases, and focus of patients on self-managing their care. Rise in number of accountable care organizations (ACOs) and the increasing government initiatives for adoption of patient engagement solutions are seen in a number of countries such as the US and the UK, which will open new opportunities for market players. For instance, in 2016, there were 838 active ACOs in the US, registering an increase of 12.6% from Morover, in 2015, according to a survey of 69 ACOs conducted by eHealth Initiative (US), about 75% of ACOs used EHRs and 62% offered a patient portal

The report analyzes the patient engagement solutions market by component, delivery mode, end user, application, therapeutic area, and region. On the basis of component, the market is segmented into hardware, software, and services. The services segment is estimated to register the highest CAGR during the forecast period as services are an indispensable part of the effective operation of patient engagement solutions. The market is further segmented on the basis on delivery mode into on- premise and cloud-based model. The cloud-based solutions market is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the technology’s flexibility, scalability, and affordability.

Based on application, the patient engagement solutions market is segmented into health management, home health management, social and behavioral management, and financial health management. In 2017, the health management applications segment is expected to account for the largest share of the global market. The large share of this segment can be attributed to the increasing awareness among patients about the complexity of their disease conditions and their willingness to actively participate in maintaining their own health. Based on end user, the patient engagement solutions market is segmented into providers (hospitals and physicians), payers, patients, and other end users (employer groups, government bodies, and pharmaceutical companies). In 2017, the healthcare providers segment is estimated to account for the largest share of the global market. The large share of this segment can be attributed to the high demand for patient engagement solutions by healthcare providers in order to maintain a competitive edge in the market.

Geographically, North America is estimated to account for the largest share of the global market, followed by Europe. The growth of the North American market is expected to be centered particularly in the US. Growth in this segment is largely driven by the federal mandates, focus on Meaningful Use of Healthcare IT, need to curb rising healthcare cost and reduce hospital readmissions, rising number of accountable care organizations (ACO) as end users for patient engagement platforms, rising aging population in the US, and Canada’s efforts to enhance healthcare delivery and digital health measures in Canada. In 2017, McKesson Corporation (US) and Cerner Corporation (US) were some of the major players in the global patient engagement solutions market. Some of the other players competing in the market are Allscripts (US), IBM (US), athenahealth (US), Orion Health (New Zealand), Getwell Network (US), Lincor Solutions (Ireland), Yourcare Universe (US), WelVU (US), Get Real Health (US), and Oneview Healthcare (Ireland).

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