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Patient engagement solutions are the solutions that provide patients to interact with medical professionals through the online portals that help in the creation of better communication channels. These further influence in achieving better patient care, easy to self-monitoring, quick results, early diagnosis, fast treatment, and others are triggering the growth of the market. Furthermore, technologically advanced patient point of care which include self-assistance, improvised diagnosis, better decision making, quality of healthcare delivery, and data management are also propelling the growth of the market. Moreover, due to the rise in the adoption of healthcare IT, the cloud-based segment is holding major contributions in the market share of patient engagement solutions which helps in easy transformation of the patient data further influencing the physicians in making quick decisions. Moreover, patient engagement solutions attract more market demand owing to continuous monitoring of healthcare and real-time clinical assessment that lead to a better healthcare delivery system by maintain patient satisfaction.
Key Market Driver -
Increase in adoption of healthcare IT and technological advancements.
Key Market Restraint -
lack of technology penetration and stringent regulations.
An increase in the adoption of healthcare IT coupled with technological advancements that help infrequent monitoring of healthcare and helps in the maintenance and storage of data is influencing the growth of the market. For instance, according to studies conducted by WHO, these software service used for the collection of diabetic patient’s health history, data and morbidity rates was anticipated to be about almost 1.2 Million in the year 2012. Furthermore, major factors driving the market are quick access to healthcare, cost-effectiveness, easy data sharing, fewer complications of data management through electronic health records, rise in geriatric population, rise in chronic diseases, increased adoption of healthcare IT, and rise in medical tourism are the factors that are majorly driving the growth of the market. In addition to this, government initiative towards healthcare awareness and healthcare digitization is also anticipated to boost the growth of the market. for instance, introduction of telemedicine to monitor remote area patients and introduction of Affordable Care Act (ACA) which has come up with programs that promotes in more efficient point of patient care which include program named as the Hospital Consumer Assessment of Healthcare Providers and Systems at hospitals that conducts surveys in hospitals that track the record of patient satisfaction based on these digital healthcare services provided at the hospitals. Moreover, mHealth monitoring with advanced networking, various fitness applications that help in continuous health monitoring on daily basis are expected to drive the growth of the market in the near future.
However, lack of skilled professionals, lack of technology penetration, data security maintenance and other factors are hindering the growth of the market during the forecast period.
The major companies in the global patient engagement solutions market report include GE Healthcare, IBM Corporation, Medtronic, Microsoft, Philips, Cisco Systems, Inc., Boston Scientific Corporation, McKesson Corporation, and others.
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Geographically, the patient engagement solutions market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the market owing to the rise in chronic diseases, an increase in acceptance of internet of things, well established healthcare IT, and early adoption of technology. Europe is the second-largest contributor in the market owing to the increased expenditure of healthcare, Healthcare awareness, and presence of developed healthcare infrastructure. Asia Pacific is anticipated to witness lucrative growth owing to the rise in geriatric population, increase in advancement of healthcare IT, increase in adoption of digitization, and government initiatives. Latin America, Middle East, and Africa are also expecting to experience lucrative growth owing to rising healthcare awareness and increased government financial initiatives towards health care programs.
By Mode of Delivery
By Therapeutic Area
By End Users
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