The Global Patient Engagement Platforms Industry is on the verge of a remarkable transformation, poised for extraordinary growth as it sets its sights on a projected US$ 93.4 billion by 2032, a significant surge from the 2021 figure of US$ 16.6 billion. Several key factors are driving this monumental rise:
- Pervasive Online Services: The integration of online services into every facet of life is rapidly becoming the norm. A substantial investment in innovative patient engagement mobile health apps is facilitating real-time connections with patients, empowering them with personalized healthcare experiences.
- Addressing the Challenges of an Aging Population and Contagious Diseases: The ongoing demographic shift toward an aging population, combined with the resurgence of contagious diseases that discourage in-person medical visits, has fostered an increasing demand for virtual consulting services. These services provide a practical and safe solution for patients seeking healthcare guidance from the comfort of their homes.
- Surge in Digital Communication: The skyrocketing popularity of digital communication and the smart utilization of data are contributing significantly to market expansion. Patients and healthcare providers are embracing these technologies, allowing for more efficient and personalized interactions.
The patient engagement platforms industry is at the forefront of revolutionizing the healthcare landscape, ushering in an era of accessible and patient-centric care. The remarkable 17% CAGR and the projected value of US$ 93.4 billion by 2032 underscore the sector’s growing importance in healthcare and the pivotal role it plays in shaping the future of patient care.
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The HITECH Act formed ONC and gave the US Department of Health and Human Services the authority to create initiatives to promote health IT and improve healthcare quality, safety, and efficiency. The usage of patient experience technology solutions is likely to increase as a result of such activities.
The majority of healthcare organizations engaged in patient engagement in healthcare lack the necessary infrastructure (technology, data, and other resources) to implement complex HCIT solutions.
Providers must make additional expenditures in infrastructure development to support IT systems in order to properly integrate patient experience technology solutions.
Owing to the efficiency of a patient experience technology solution is determined by the hardware and software available to the end-user, any end-user interested in implementing one must first invest extensively in these areas. Many hospitals have limited funds; such large investments are difficult for them to make.
Patient engagement platforms market adoption is on the rise as a result of factors such as the rising prevalence of chronic diseases and the growing geriatric population.
According to the American Diabetes Association 2020, 1.5 million new cases of diabetes are diagnosed in the United States each year. Companies are focused on the development of patient engagement solutions in response to the rising number of diabetic patients.
Data security issues are extremely critical in the digital patient engagement platforms since the infrastructure can be exposed to networks that are not part of the organization’s secure network.
Medical devices connected to home networks, public Wi-Fi, or cellular networks, for example, may broadcast information back to the hospital’s network. These external networks may not be secure, allowing unwanted access to the data being exchanged. As a result, patient comments may be shared with unintended recipients, which could be exploited and lead to a security breach.
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Key Takeaways
- In 2026, the market for patient experience technology in the United States is predicted to be worth $299 million.
- With a revenue share of over 75.0 per cent in 2021, the web and cloud-based category dominated the market. These solutions are becoming more popular as a result of remote access to real-time data tracking, integrated features, easy accessibility, low handling costs, and simple data backup.
- In 2020, the technology category impacted the majority of the patient experience technology and patient engagement platforms industry outlook in the United States. Technology is an essential aspect of the patient experience journey, and it is expected to increase at the fastest CAGR during the projection period.
- In 2021, the software and hardware sector had the greatest patient engagement platforms market share of more than 60.0 per cent, and it is predicted to grow at the quickest CAGR over the forecast period.
- As the key component of every patient engagement solution, communication accounted for the greatest patient engagement platforms industry share of approximately 35.0 per cent in 2021. A spike in demand and implementation of telehealth, mhealth, and other virtual communication options via audio, video, and text is responsible for this huge proportion.
- Due to the presence of significant players, increased acceptance of mhealth and EHR, and expanding investment in patient engagement software by big enterprises, North America held the largest revenue share of about 35.0 per cent in 2021.
“During the forecasted period, the Asia Pacific patient engagement platforms industry is predicted to grow at an attractive rate of 18.8%. The growth of this region is aided by the economic prosperity of countries such as India and China.”
Competitive Landscape
Due to the presence of large and small enterprises, the demand for patient engagement platforms has been characterized by severe rivalry. Key players control a considerable portion of the market. To increase their market presence, major firms are pursuing new strategies such as geographic penetration, new product/solution development, mergers and acquisitions, partnerships, and strategic alliances.
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Some prominent patient engagement platform vendors in the global patient engagement platforms industry include NextGen Healthcare, Inc., CPSI, McKesson Corporation, Allscripts Healthcare, LLC, Experian Information Solutions, Inc., ResMed, Epic Systems Corporation, Klara Technologies, Inc., Koninklijke Philips N.V., and Cerner Corporation.
- Press Ganey (US) collaborated with The Beryl Institute (US) in 2021, a global network of healthcare professionals and seasoned champions. Press Ganey will focus on expanding the healthcare experience movement as a result of this partnership.
- Vocera (US) and Amazon (US) cooperated in 2021 to create the Vocera Skill tool for Alexa. Vocera Skill will add hands-free and immersive voice experiences for patients and their families to Vocera’s ecosystem.
- SONIFI Health (US) and CipherHealth (US) formed a strategic agreement in 2021 to combine their primary strengths and give health systems a more comprehensive approach to patient communication and successful care planning.
Key Segments
By Component:
- Technology
- Patient Rounding
- Patient Experience Survey
- Consulting Services
By Facility Type:
- Acute Care Facility
- Acute Hospitals
- Children’s Hospitals
- Academic Medical Centre
- Military Treatment Facility
- Ambulatory Surgery Centre
- Post Acute Care Facility
- Long Term Acute Facility
- Skilled Nursing Facility
- Other
- Non Acute Care Facility
- Physicians Office
- Clinics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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