Patient Engagement Solutions Market Outlook and Opportunities in Grooming Regions

The soaring number of government regulations and incentive programs being implemented in several countries all around the world for promoting patient-centric treatment procedures and care are the major factors propelling the demand for patient engagement solutions across the globe. The rising internet penetration, ballooning number of smartphone users, and development of 3G and 4G spectrums have improved the mobile platform capabilities and allowed them to offer healthcare services, and this has significantly boosted the development of patient engagement solutions. Furthermore, the adoption of value-based programs leads to enhanced health outcomes and patient satisfaction and lower healthcare costs.

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The other important factor fuelling the rise in the demand for patient engagement solutions is the surging geriatric population across the world. The rising involvement of older people in healthcare decision making and various wellness activities through the incorporation of patient engagement solutions are further pushing the demand for these solutions in many regions. Due to these factors, the global patient engagement solutions market is expected to exhibit a CAGR of 16.9% during the forecast period (2018–2023). The valuation of the market is predicted to rise from $8.5 billion in 2017 to $21.9 billion by 2023.

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The patient engagement solutions are adopted for a wide array of applications —home health management, health management, financial health management, and social and behavioral management. Out of these, the usage of patient engagement solutions for home health management is predicted to increase at the highest rate in the coming years. Patient engagement solutions are adopted in various therapeutic areas, such as women’s health, mental health, fitness, and chronic diseases, including cancer, cardiovascular diseases, obesity, and diabetes. The adoption of patient engagement solutions was found to be the highest in the treatment procedures of cardiovascular diseases in the last few years, as they are the world’s largest killer.

Globally, North America registered the highest adoption of patient engagement solutions during the historical period (2013–2017). This is credited to the presence of a huge number of healthcare information technology (HIT) solution providers, rising incidence of chronic diseases, and the existence of well-developed healthcare infrastructure, in the region. The patient engagement solutions market is expected to exhibit rapid growth in the Asia-Pacific (APAC) region in the immediate future, owing to the rising public awareness about patient engagement solutions and the increasing incidence of chronic diseases, in the region.

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Created on Aug 4th 2020 02:51. Viewed 280 times.

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