A new report by Transparency Market Research (TMR) states that the competitive landscape of the global market for the patient engagement solutions market exhibit highly fragmented structure, thanks to the large number of regional and global players. Most of the players in the global patient engagement solutions are largely focused on developing product portfolio and to strengthen their presence across the globe. The study also offers few prominent players operating in the global patient engagement solutions market such as Athenahealth Inc., Cerner Corp., Orion Health, Axial Exchange, Allscripts Inc., and McKesson Corp. Additionally, most of the company are providing technology based software solution as well as innovative software, which are mainly focused on bolstering patient’s engagement market. On the basis of such solution, the players are likely to gain a competitive advantage over others.
As per Transparency Market Research (TMR), the global market for patient engagement solutions held an opportunity worth at US$6.66 bn in 2014. This market is likely to touch at least US$34.94 bn by 2023. The staggering growth in collection of revenue has been predicted to take place with a meteoric 23.0% CAGR from the period ranging between 2015 till 2023.
Massive Participation of the Patients-Doctor Drives Growth
High engagement by the patient engagement solution to maintain their healthcare data could projected to drive the growth of this market in coming years. The patient engagement solution also offers improvised interaction among the medical team and the patient. This is one of the important factors positively influencing the growth of the market in near future. Technology advancement is another factor that helps the healthcare sector to provide necessary information to their patient in order to manage their health and to actively participate. Additionally, high demand for meaningful conversation among the patients and doctors is projected to drive the demand of the global market for patient engagement solution in near future.
On the other hand, Increasing concern about maintain a privacy of data both in electronic forum as well as verbal form, could likely to hinder the growth of the global market for patient engagement solution. Moreover, increasing inclination of healthcare provider and patient involvement towards reimbursement process is likely to hamper the growth of the market in near future. While increasing government initiative and private organization to improve the quality service by doctor is likely to propel the opportunity of this market in coming years.
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Rising Government Reforms Likely To Dominate the Patients Engagement Market in North America
The study provides the global market for the patient engagement market in terms of geographical spread across the North America. Due to transformation of government reforms, and rising number of better healthcare services and changed payment method based on incentive are some of the factor propelling the growth in the patient engagement solution in the North America. The study highlight the fact that North America is likely to remain the leading market during the course of forecast period.
This review is based on the findings of a TMR report titled “Patient Engagement Solutions Market (Delivery Mode – Self-hosted, Software as a Service (SaaS) and Application Managed Services, End-users – Hospitals & Providers, Healthcare Payers, and Pharmaceutical Companies) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”
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