The Patient engagement technology market size is projected to reach US$ 99.61 billion by 2031 from US$ 25.22 billion in 2023. The market is expected to register a CAGR of 18.7% during 2023–2031. Strategic developments by market players followed by the joint initiatives taken by the government bodies are likely to remain key trends in the market.
Increasing adoption of patient centric engagement solutions, surging favourable government initiatives, and rising number of startups are the major factors driving the market growth. Some of the recent startups in the patient engagement technology market are Medionce Solutions, HealthCode AI, Estimtrack, and others. Moreover, increasing in product development and product launches followed by the increasing adoption of smart devoces such as smartphones, tablets, and Pads in healthcare is expected to create ample opportunities in the market.
Increasing adoption of patient centric engagement solutions, surging favourable government initiatives, and rising number of startups are the major factors driving the market growth. Moreover, increasing in product development and product launches followed by the increasing adoption of smart devices such as smartphones, tablets, and Pads in healthcare is expected to create ample opportunities in the market. North America account for the major market share owing to the increasing demand of patient engagement technology systems in hospitals and clinics in the US and increasing healthcare funding dedicated towards development of IT-based solutions for healthcare characterize the growth in North America. Asia Pacific is anticipated to register the highest growth rate owing to the increase in the investments & developments of the innovative solutions by the market leaders, increasing disposable income, rising geriatric population, and the growing demand for improved healthcare solutions.
The government in various countries is taking steps to assist in advancing information technology in healthcare. Foor instance, in February 2021, as a part of the United Kingdom government launched a program to employ a fully connected cloud-driven health service, over two million National Health Services (NHS) mail mailboxes were moved to Exchange Online, which is a part of Microsoft’s Azure Cloud. This facilitated smoother and more efficient communication among NHS organizations, and departments and increased information access. This will improve market growth by increasing the use of (Health Information Technology) HCIT Change Management services in the UK.
For instance, the 'Espace Numerique de Santé,' a digital health portal for patients set to launch in 2022, will include Dossier Medical Partagé (DMP). Patient summaries and immunization information will be added to the DMP in the future. Because of this integration, there will be no delays during the consultation because all of the data will be accessible. Such initiatives will boost the overall adoption of web-based services, resulting in the growth of the patient engagement technology market.
The smartphone is one of the fastest-growing segments in the technology sector, and it has a proven significant impact on the healthcare sector. Smartphones are making day-to-day chores easier, and the technology is also streamlining care for both physicians and patients. According to a new survey, hospitals are making significant investments in smartphone and secure mobile platforms to enable communications between clinicians and patients. For example, purpose-built devices can be integrated with in-hospital patient call systems, so nurses are paged when a patient hits the call button, further increasing responsiveness.
The increasing penetration of smartphones and growing wireless network technology supports improvements in digital healthcare systems with novel opportunities to address more challenges associated with accessibility, quality, effectiveness, efficiency, and healthcare costs. Smartphones are increasingly being used by the common populace for accessing healthcare applications. The increasing use of smartphones is expected to trigger the use of mobile-based applications by healthcare providers and patients to streamline workflow and avoid inconveniences, such as hospital waiting time, availability of admission beds, and others, which will provide significant opportunities for patient engagement technology market players.
Key segments that contributed to the derivation of the Patient engagement technology market analysis are component, therapeutic area, delivery mode, application, and end user.
The geographic scope of the Patient engagement technology market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market owing to the increasing demand of patient engagement technology systems in hospitals and clinics in the US and increasing healthcare funding dedicated towards development of IT-based solutions for healthcare characterize the growth in North America. The US holds the significant share of the patient engagement technology market. The growth of the market in the country is primarily driven by increasing adoption of advanced medical device technologies, growing digitalization of medical devices, increasing emphasis on improving treatment outcomes and increasing prevalence of chronic diseases. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Patient Engagement Technology Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Patient Engagement Technology Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 25.22 Billion |
| Market Size by 2031 | US$ 99.61 Billion |
| Global CAGR (2023 - 2031) | 18.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Patient Engagement Technology Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Patient Engagement Technology Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Patient engagement technology market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Patient engagement technology market are listed below:
The “Patient Engagement Technology Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America region dominated the Patient engagement technology market in 2023
Increasing adoption of patient centric engagement solutions, surging favourable government initiatives, and rising number of startups are the driving factors impacting the Patient engagement technology market.
Strategic developments by market players followed by the joint initiatives taken by the government bodies are the future trends of the Patient engagement technology market
The leading players operating in the Patient engagement technology market includes Allscripts Healthcare LLC, athenahealth Inc. (Veritas Capital), Carilex Medi GetWellNetwork Inc., AdvancedMD Inc., Cerner Corporation, Epic Systems Corporation, Orion Health group of companies, McKESSON CORPORATION, Lincor, Inc., Medecision among others
The estimated value of the Patient engagement technology market by 2031 is US$ 99.61 Bn
The expected CAGR of the Patient engagement technology market is 18.7%