Patient Engagement Technology Market

By Delivery Type (On Premise, Off Premise),
By Component (Hardware, Software, Service),
By Functionality (Administrative and Communication, Health Tracking and Insights, Finance, and Payments, Patient Education, and Others),
By Application (Social Management, Health Management, Financial Management, and Home Healthcare Management),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa):

Global Analysis and Forecast 2023-2033

Domain:
Healthcare and Pharma
Report Code:
HCP22003
Published Date:
July 2023

The global patient engagement technology market will be worth more than USD 48 billion by 2033.

The rise in the adoption of technology, the rise in the geriatric population, and increasing concern towards effective management of chronic diseases are the primary factors that support the market growth of patient engagement technology. Patient engagement technology is used for patient education, distribution or gathering of patient information, patient services, or clinical decision-making. Electronic health records (EHR) are primarily maintained using technology to keep necessary patient information and medical records in an organized format. Certain patient services such as appointment scheduling, prescription filling, or tele-consulting are being delivered online for remote convenience and reducing staffing workload. Healthcare organizations increasingly utilize patient portals to distribute information such as test results reports, medication adherence guidelines, and treatment information. The rise in Data analytics and artificial intelligence applications would further boost the market growth for Patient engagement technology. Data analytics can be effectively applied for sentiment analysis and gathering crucial insights into patient behavior. Artificial intelligence is integrated to carry out prediction modeling to detect risk before treatment. Risk prediction can be effectively utilized to provide customized treatment and thus enhance the patient experience.

The companies operating within the drone camera industry are undergoing mergers, collaboration, acquisition, long-term contracts, and service agreements to increase their global footprint. For instance, Arrive Health (formerly RxRevu) recently acquired a suite of technology developed at UPMC. The technology suite includes an AI-powered chatbot and customer relationship management platform designed to support improved medication adherence and prescription capture rates. Furthermore, notable investment towards research and development to launch new and innovative products that support operational integration at multiple levels is also practiced by industry stakeholders.

According to the CXOs and primary research conducted, COVID-19 was a significant catalyst to support the market growth of virtual patient care and technological intervention to operate healthcare services. Virtual patient care was most suitable for mid-aged to older people who found remote services convenient in times of widespread infection. Telehealth, mobile apps, and patient portals functioning witnessed a rise in the pandemic. It became crucial mediums for carrying out patient services. COVID-19 information, education, and preventive measures were widely distributed using technology-based mediums. The trends as mentioned earlier caused a boost in the market growth of patient engagement technology during post-pandemic times.

The patient engagement technology market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. Quick adoption of new technologies, the rise in the geriatric population, initiatives towards integration of AI and data analytics, and major industry players within the region are primary factors supporting market potential within the North American region. The major companies operating within the market are Allscripts Healthcare, LLC, Athenahealth, CipherHealth Inc, Get Real Health, HealthHub Patient Engagement Solutions, IQVIA, Medecision, Oneview Ltd., Oracle, and SONIFI Health Incorporated.

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Contact:
Dhvanil Dave
Quadrant Market Insights
+1-909-488-5693
query@quadrantmarketinsights.com