Growth Drivers: Implementation of government regulations and initiatives to promote patient-centric care.
Northbrook, IL -- (SBWIRE) -- 01/14/2021 -- According MarketsandMarkets Research - The Patient Engagement Solutions Market is projected to reach USD 19.3 billion by 2025 from USD 11.9 billion in 2020, at a CAGR of 10.1%. The growth of this market is driven by the implementation of government regulations and initiatives to promote patient-centric care, increasing demand for patient engagement solutions, and the increasing utilization of mobile health apps.-
Growth Opportunities: Emerging Asian Countries:
A number of factors, such as the implementation of government initiatives supporting the adoption of HCIT solutions, rising government healthcare expenditure, and the presence of skilled IT experts in emerging Asian countries, such as China and India, are expected to support the growth of the patient engagement solutions market in Asia.
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Covid 19 impact of the Patient Engagement Solutions Market;
Due to the COVID-19 outbreak, medical practices of all sizes are under immense pressure, and healthcare facilities across the globe have been overwhelmed by the large number of patients visiting them on a daily basis. The rising prevalence of coronavirus disease has driven the demand for accurate diagnosis and treatment devices in several countries across the globe. The COVID-19 pandemic has also increased the need for social distancing among physicians and patients, which has driven the demand for remote patient monitoring and telehealth solutions and the need for the accurate and timely exchange of patient health records. Various players in this market have introduced COVID-19- related features into their existing patient engagement solutions, which are being made available to users free of cost. This is leading to improved adoption of the solutions in current times.
# In 2020, Get Real Health launched Talk With Your Doc, a telehealth solution that enables providers to manage their revenue-generating healthcare services and enables patient-provider relationships, especially during the COVID-19 pandemic.
# In 2020, Orion Health has developed the first comprehensive pandemic outbreak monitoring platform in order to curb the spread of the COVID-19 virus. The Coronavirus Outbreak Solution engages patients in their homes, facilitates communication between quarantined patients and healthcare service providers, and maintains visibility of those recently discharged.
# In 2020, BM and Wipro collaborated to launch an innovation center in India to build industry solutions leveraging cloud, artificial intelligence, machine learning, and the internet of things.
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North America dominates the market during the forecast period.
The global patient engagement solution market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share of the global market. Favorable government initiatives and regulations, the need to reduce healthcare costs, the rising prevalence of chronic diseases, and the presence of key market players in the region are the key factors driving the growth of the market in North America.
McKesson Corporation (US), Allscripts (US), IBM (US), AdvancedMD (US), Cerner Corporation (US), Epic Systems Corporation (US), Orion Health (New Zealand), GetWellNetwork (US), and athenahealth (US), MEDHOST (US), eClinicalWorks (US), Lincor Solutions (US), Get Real Health (US), Symphony Care (US), Harris Healthcare (US), Kareo (US), CureMD Healthcare (US), Oneview Healthcare (Ireland), MEDITECH (US), IQVIA (US), Vivify Health (US) and Cognizant (US) are considered to be the leading players in the Patient Engagement Solutions Market.