The primary drivers for the patient engagement solutions market include the launch of several value-based programs, government efforts to create a patient-centric healthcare model, rising adoption of such solutions by the elderly, surging cost of healthcare, increasing use of mobile health (mHealth), and growing requirement for wearable medical devices. Witnessing a 16.9% CAGR during the forecast period, the market revenue is projected to rise to $21.9 billion by 2023, from $8.5 billion in 2017. Such solutions utilize internet of things (IoT) to improve the doctor–patient communication.
 |
| To Learn More About This Report@ http://bit.ly/3cFedx0 |
Under the component segment, services, software, and hardware are the three divisions. Among these, by generating 56.8% of the total revenue, the software division led the patient engagement solutions market in 2017. Across the world, the trend of software customization is growing, as such software helps smoothen the healthcare process and simplify complex data sets. During the forecast period, the services category is predicted to witness growth at the highest CAGR in the market.
The increasing support by the governments for implementing a patient-centric healthcare model is playing an instrumental role in leading the patient engagement market to prosperity. For instance, under the Health Information Technology for Economic and Clinical Health (HITECH) Act, the U.S. federal government offers incentives to medical centers, to encourage the adoption of electronic health records (EHR) and patient engagement solutions. On similar lines, the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) is aimed at improving patient care and engagement, via the Quality Payment Program.
Pre-Purchase Inquiry at@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=patient-engagement-solutions-market
In 2017, North America was the largest patient engagement solutions market, on a regional basis, with a value share of 45.5%. This is credited to its advanced healthcare infrastructure, increasing number of healthcare information technology firms, and rising cases of chronic diseases. During the forecast period, Asia-Pacific (APAC) is expected to grow at the highest CAGR, of 18.8%, as a result of the increasing awareness on the usefulness of such solutions for disease management, rising prevalence of chronic diseases, and increasing population of the elderly.
Hence, with governments around the world taking active initiatives to tackle diseases and improve patient care, the usage of patient engagement solutions would surge further.
