The "Global Patient Engagement Solution Market: Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The rising trend of using mobile applications has boosted the growth of this market. Moreover increased prevalence of chronic diseases and efforts by the government to create awareness about the engagement solutions have further helped this market to grow in the forest period. Due to these factors, the market has been attracting investors, which is further helping this market to grow.
But, as this sector is new in healthcare, there is a lack of IT professionals in this industry. Also, online patient data is like an open treasure and hence raises security concerns. These factors are hence restraining this market's growth.
Key Market Trends
Applications in Fitness & Health Management Expected to Register a High Growth Rate
mHealth is an important tool for improving patient engagement because so much of the technology is already consumer-facing. From fitness trackers and patient portals to smartphone apps and home monitoring equipment, mHealth permeates patients' everyday lives. When these tools are easily available through a smartphone or a wearable sensor on a wrist, they can ideally lead patients to monitor their health and even interact with their providers every day.
Moreover, the need for these technologies is increasing due to increasing morbid conditions like obesity. In many countries, especially developed countries, the prevalence of obesity is high. For instance, as per a 2017 report by the OECD, 38.2% of the population in the United States was reported to be obese. Obese carries various health risk factors, including death in severe cases. Patient engagement solutions for fitness and health hence very important to track the obesity. This factor is hence expected to help the market growth.
North America Dominating the Global Market
As per the report of Centres for Medicare and Medicaid Services (CMS), the healthcare spending in the United States has been increased by 4.3% and per person, health spending was USD 10,348, in 2016. Around 17.9% of the total GDP is spent on healthcare in the country. Canada is not far behind, with an expenditure of about 11% GDP on healthcare, according to OECD data.
While considering hospitals as a major component of the health industry, its development is done with the help of novel technologies and services, such as patient engagement solutions, which help in the management of operations related to patient health in these developed countries. Being an integral part of the hospitals and for the ease of access to the patient's health with a better connection to the same, patient engagement solutions are majorly utilized in these countries.
Due to the higher adaptability of innovative technologies and raising awareness among the general population about health, this region is expected to dominate the patient engagement solutions market.
As this is a relatively new market, this market is experiencing some new players. Most of the players are based in developing countries due to more technological advancements. But due to the ease of connectivity in modern times, these players have also penetrated developing countries and are trying to establish a market in these countries as well. Some new players are emerging from developing counties as well.
Moreover, many new startups including My Haven Health, Ask Rose and Advancing Synergy have been emerging to compete with the established companies in the sector
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Trend of Mobile Health Applications
4.2.2 Growing Popularity of Patient Engagement Solutions Among the Aging Population
4.2.3 Rising Investments and Technological advancements
4.3 Market Restraints
4.3.1 Protection of Patient Information
4.3.2 Lack of Skilled IT Professionals in the Healthcare Industry
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Component
5.2 By Delivery Mode
5.2.1 Web-based and Cloud-based
5.3 By Application
5.3.1 Social Management
5.3.2 Fitness and Health Management
5.3.3 Home Healthcare Management
5.3.4 Financial Management
5.4 By End User
5.4.4 Other End Users
5.5.1 North America
5.5.4 Middle-East & Africa
5.5.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allscripts Healthcare Solutions, Inc.
6.1.2 Athenahealth, Inc.
6.1.3 Cerner Corporation
6.1.5 Lincor Solutions
6.1.6 McKesson Corporation
6.1.7 Medecision, Inc.
6.1.8 Orion Health Ltd.
6.1.10 Yourcareuniverse, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/cmecam
View source version on businesswire.com: https://www.businesswire.com/news/home/20200811005702/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900