Patient engagement solutionsmarket is segmented on the basis of delivery mode and end-users. On the basisof delivery mode it is further segmented as self-hosted, software as a service(SaaS) and application managed services.
Statistics:
The global PatientEngagement Solutions Market is estimated to account for US$ 20.0 Mn interms of value in 2020 and is expected to reach US$ 80.1 Mn by the end of 2027.
Global Patient EngagementSolutions Market: Drivers
Launch of new products isexpected to propel growth of the global patient engagement solutions marketover the forecast period. For instance, in October 2020, Pomelo Health launchedits new website and released the latest version of its Patient EngagementPlatform.
Global Patient Engagement SolutionsMarket: Opportunities
Increasing investment in digitalpatient engagement is expected to offer lucrative growth opportunities forplayers in the global patient engagement solutions market. For instance, inAugust 2020, Hikma Ventures, venture capital arm of Hikma Pharmaceuticals PLC,participated in a CAD4.0 million Series A round of financing for SeamlessMD toexpand digital patient engagement leadership.
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Global Patient EngagementSolutions Market: Restraints
High initial investment isexpected to hinder growth of the global patient engagement solutions market.Modernization of the healthcare systems in the form of healthcare informationtechnology (HIT) is demanding to develop new infrastructure particularly in thedeveloping countries for the services such as cloud computing. This newinformation technology (IT) infrastructure is demanding for significantfinancial investment which is restraining the patient engagement solutionmarket.
Key Takeaways:
The global patient engagementsolutions market was valued at US$ 16.6 Mn in 2019 and is forecast to reach avalue of US$ 80.1 Mn by 2027 at a CAGR of 21.9% between 2020 and 2027. Majorfactor driving the growth of global patient engagement solutions market duringthe forecast period include technological advancement, and increasing use ofsoftware applications.
On premise delivery mode helddominant position in the global patient engagement solutions market in 2019,accounting for 45.3% share in terms of value, followed by Software as a Serviceand Application Managed Service, respectively. Product launches is expected tosupport growth of the segment.
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Market Trends
The global patient engagementsolutions market is witnessing several M&A activities. For instance, inSeptember 2020, CloudMD Software & Services Inc., a telehealth company,entered into a Binding Term Sheet to acquire iMD Health Global Corp.
Increasing adoption of patientengagement solutions is expected to propel growth of the market. For instance,in August 2020, eVideon announced that Ojai Valley Community Hospital’sContinuing Care Center adopted the company’s Patient Experience Platform andDigital Signage solutions.
Global Patient EngagementSolutions Market: Competitive Landscape
Major players operating in theglobal patient engagement solutions market include, Medecision, Inc., CernerCorporation, Phytel, Inc., iMD Health Global Corp., Axial Exchange, OrionHealth, Emmi Solutions LLC, Athenahealth, Inc., RingCentral, InteliChart, RadixHealth, GetWellNetwork, Inc., Pomelo Health, eVideon, and SeamlessMD.
Global Patient Engagement SolutionsMarket: Key Developments
Major players in the globalpatient engagement solutions market are focused on launching new products toexpand their product portfolio. For instance, in June 2020, Pomelo Health(formerly Chronometriq) launched the redesigned version of MagicSeat, a virtualqueue management system for clinics.
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