Patient Engagement Solutions Market Expected to Reach $50.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Patient Engagement Solutions Market, By Component (Hardware, Software, Services), By Deployment Mode (On-Premise, Cloud), By Functionality (Communication, Health Tracking And Insights, Biling And Payments, Administrative, Others), By End User (Providers, Payers, Patients): Global Opportunity Analysis And Industry Forecast, 2023-2032" The patient engagement solutions market was valued at $17 billion in 2022, and is estimated to reach $50.5 billion by 2032, growing at a CAGR of 11.5% from 2023 to 2032. 

Patient engagement software is dedicated to any healthcare provider whose services comprise direct contact with a single client. Health engagement platforms serve to schedule appointments and maintain the accessibility of medical records. In addition, a digital patient engagement platform simplifies the healthcare process for the client and brings substantial benefits from the business point of view. The patient engagement solution market has seen significant growth over the years, driven by several key trends and growth factors. One of the major trends is the development of cloud-based platforms to address the demand from large enterprises to secure cloud infrastructure. Similarly, the rise in popularity of managed services to administrate the outsourced IT infrastructure is another trend contributing to the patient engagement solution market growth. Growth factors of the patient engagement solution market include a rise in the number of chronic diseases and increase in awareness regarding mobile health among people, a growth in need to secure critical infrastructure, and extensive adoption and deployment of digital technologies. Overall, the patient engagement solution market is expected to continue to grow due to the rise in the adoption of patient engagement solution services across enterprises.

On the basis of deployment mode, the on-premise segment is expected to grow at the highest growth rate during the forecast period. An increase in the need for secure and reliable data within the organization is fueling the market growth for on-premise patient engagement solutions. However, the cloud segment is expected to exhibit the highest growth during the forecast period. This is attributed to the cost-efficient solutions provided by these solutions.

On the basis of region, North America attained the highest growth in 2022. The presence of prominent players such as Oracle Corporation, Athenahealth, and others has influenced the growth of the patient engagement solutions market size in North America. Moreover, the rise in government initiatives to strengthen database infrastructure across the region is further expected to drive the demand for patient engagement solutions database solutions.  However, Asia-Pacific is projected to be the fastest-growing segment during the forecast period, owing to the availability of cost-effective digital solutions and the rise in the amount of data generation across organizations. In addition, the proliferation of advanced technologies escalates system safety and reduces delays in database operations.

The pandemic has highlighted the necessity of digital solutions in the healthcare sector. Post-COVID-19, there are increased opportunities for cloud technology in industries such as telemedicine, remote patient monitoring, robotic surgery, and drug delivery. In addition, advanced patient engagement solutions help to enhance healthcare services, improve patient treatment, and address upcoming healthcare challenges. Such trends are expected to provide numerous opportunities for the patient engagement solutions market. Moreover, the increased emphasis on cleanliness and hygiene is expected to continue in the post-pandemic world, which in turn, drives the adoption of patient engagement solutions.  Patient engagement solutions can play a significant role in providing efficient and effective disinfection and sanitization solutions. These factors have forced businesses to improve their offerings in the global market. For instance, in March 2020, PatientPoint launched three new digital products further extending the reach of its suite of interactive patient engagement products. Such numerous strategies have built a strong foundation for patient engagement solutions to grow in the forecast period as more and more businesses adopt such digital trends. 

Furthermore, the rise in the trend of cloud computing in several industries including the healthcare industry is anticipated to create numerous opportunities for market growth. As cloud-based healthcare solutions offer scalability, flexibility, and accessibility, that enhance business operations. For instance, in June 2023, Maxim Software Systems launched EngageB, a web application designed to transform patient engagement in dental clinics. EngageB represents a significant leap forward in patient communication and relationship management. Therefore, numerous strategies adopted by businesses further help to accelerate the global patient engagement solutions market growth globally.

Key Findings of the Study

• By component, the software segment accounted for the largest patient engagement solutions market forecast in 2022.
• By deployment mode, the public segment accounted for the largest patient engagement solutions market share in 2022.
• By functionality, the communication segment accounted for the largest patient engagement solutions industry share in 2022.
• By end user, the providers segment accounted for the largest patient engagement solutions market analysis in 2022.
• Region wise, North America generated the highest revenue in 2022.

The market players operating in the patient engagement solutions industry are Aetna Inc., Allscripts Healthcare Solutions, Inc. (Veradigm LLC), Athenahealth, Oracle Corporation, EPIC Systems Corporation, GetWellNetwork, Inc., IBM Corporation, IQVIA Inc., Lumeon Inc. and McKesson Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the patient engagement solutions market globally.