How is Rising Use of mHealth Driving North American Patient Engagement Solutions Market?

The ballooning usage of mobile health solutions is pushing up the requirement for healthcare apps. Moreover, these solutions are fueling the surging adoption of e-prescriptions and electronic health records (EHR), that use cloud for storing health data. Because of this reason, the growing usage of mobile health solutions is positively impacting the demand for cloud-based patient engagement solutions in North America. As per a study conducted by the Pew Research Center, around 77% of Americans are smartphone users.

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The increasing population of geriatric people is pushing up the requirement for technologically advanced healthcare and medical solutions, on account of the fact that the geriatric people are highly vulnerable to various chronic diseases and are usually not able to travel frequently for medical treatment. Cloud-based patient engagement solutions are allowing them to seek healthcare and remain connected with medical practitioners at all times without physically traveling to the healthcare facilities. 

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As per the 2017 World Aging Population report produced by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people in the age bracket- 60 years or above in the U.S. was 69.7 million in 2017. Moreover, as per the report, this number is predicted to increase to 108.4 million by 2050. This will massively boost the demand for patient engagement solutions in the country in the coming years. 

Web-based, cloud-based, and on-premises are the main three types of methods via which the patient engagement solutions are deployed in the region. Out of these, the usage of web-based delivery mode is predicted to be the highest in the forthcoming years. This would be because the web-based delivery mode can be easily accessed both offline and online, unlike the cloud-based one, which requires the availability of high-speed internet for access. 

The North American patient engagement solutions market recorded the highest growth in the U.S. in the years gone by and this trend is predicted to continue in the upcoming years as well. The rapid market advancement in the country will be driven by the existence of advanced and well-established healthcare infrastructure, the increasing presence of numerous healthcare IT solution providing organizations, and the growing incidence of chronic diseases in the country.

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How are Government Efforts Helping Patient Engagement Solutions Market Advance?

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.

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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.

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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.

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