Patient Engagement Technology In Health Care Market - Forecast(2024 - 2030)

Patient Engagement Technology In Health Care Market Overview

Patient Engagement Technology In Health Care Market Size is estimated to reach $32.3 billion by 2027. Furthermore, it is poised to grow at a CAGR of 16.5% over the forecast period of 2022-2027. Patient engagement is a dynamic, strategic method used by healthcare organizations to provide patients with holistic, end-to-end care. The level at which healthcare clients, patients are actively involved in decisions about their health, wellness, and care are referred to as patient engagement. From remote patient monitoring (RPM) to wearable devices to patient portals to electronic health records (EHR) and more, mobile health devices and technology have totally revolutionized the ways in which healthcare professionals communicate and engage with their patients, supporting patient-centric care and self-managing treatment. Furthermore, patient engagement technologies are growing rapidly as the healthcare sector is transitioning from a service fee to a value-based reimbursement paradigm. Besides this, social distancing owing to the pandemic resulted in the demand for remote patient monitoring systems as well as the necessity for timely interchange of patient health records. The growing prevalence of chronic diseases, adoption of innovative technologies in healthcare, increase in technology-savvy population, and adoption of mobile healthcare devices are some of the factors driving the Patient Engagement Technology In Health Care Market growth during the forecast period 2022-2027.

Report Coverage

The report: “Patient Engagement Technology In Health Care Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Patient Engagement Technology in the Health Care Market.

By Component- Hardware, Software, Services, Integrated Solutions, Others.
By Application: Health Management, Social Management, Home Healthcare Management, Financial Health Management, Others.
By End-Users- Providers, Payers, Patients, and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

• Geographically, North America held a dominant market share in the year 2021 on account of the technology-savvy population, technological advancements in the healthcare industry as well as growing adoption of Electronic Medical/Health Records. Asia-Pacific is expected to offer lucrative growth opportunities to the manufacturers owing to the increasing prevalence of chronic diseases, demand for better healthcare facilities, and the adoption of innovative technologies. The robust growth of the services segment followed by the software segment is predicted to augment the market growth during the forecast period of 2022-2027.
• Increasing adoption of mobile healthcare devices, as well as the growing geriatric population with a high risk of chronic diseases, is estimated to drive the market growth of Patient Engagement Technology in the Health Care Market. Lack of trained professionals and data hacking continues to pose threat to the market growth.
• A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Patient Engagement Technology In Health Care Market Report.

Patient Engagement Technology In Health Care Market: Market Share (%) by region, 2021